Purchaser’s Default definition

Purchaser’s Default means that the Purchaser breached its representations, warranties, covenants, or agreements under this Agreement, or failed or is unable to consummate the purchase of the Property by the Closing Date. The Seller may, no later than ten (10) days after receiving actual knowledge of the Purchaser’s Default, give the Purchaser written notice electing one of the following options:

Purchaser’s Default has the meaning set forth in Section 10.2.

Purchaser’s Default means a default of the Purchaser in the manner described in Clause 6.13.

Examples of Purchaser’s Default in a sentence

• Any recordation or attempted recordation by Purchaser shall constitute a Purchaser’s Default.

• The remedy set forth in the preceding provisions of this Section 8.1(b) shall be Seller’s sole and exclusive remedy, at law or in equity, for a Purchaser’s Default.

• If a Purchaser’s Default occurs and provided no Seller’s Default has occurred that has not been cured, then Seller shall have the right to terminate this Agreement immediately by giving written notice to Purchaser, in which event Seller shall be entitled to the immediate receipt of the Xxxxxxx Money together with all interest accrued thereon as liquidated damages.

• The retention of the bidder’s deposit shall not limit any rights or remedies of Auctioneer or Seller with respect to Purchaser’s Default.

• If this Agreement terminates for any reason other than solely as a result of Purchaser’s Default in accordance with the terms and conditions hereof, Escrow Agent shall automatically and promptly refund the Deposit, together with all accrued EXECUTION VERSION interest, to Purchaser, and no party hereto shall have any further obligation under this Agreement except for such obligations which by their terms expressly survive the Closing or other termination of this Agreement (the “Surviving Obligations”).

More Definitions of Purchaser’s Default

Purchaser’s Default has the meaning set forth in Section 10.2 of this Agreement.

Purchaser’s Default. As defined in Section 15.4(d) hereof.

Purchaser’s Default. Shall have the meaning set forth in Section 2.5(a) of this Contract.

Purchaser’s Default means the breach by the Purchaser of a material covenant, condition or agreement in this Agreement or any other act or omission on the part of the Purchaser which prevents Closing from occurring.

Purchaser’s Default has the meaning set forth in clause (2) of Section 9.14(a) "Rights To Terminate."

Purchaser’s Default. This term shall have the meaning ascribed to it in Section 9.01 below.

Purchaser’s Default means the failure of any of the Purchasers to acquire any of the Sale Shares held by the Holdco Promoters in the Company, the Snowdrop Sale Shares 1 and/or Snowdrop Sale Shares 2, post the completion of all Conditions Precedent in accordance with the terms of this Agreement, on account of any reason solely attributable to such Purchaser, including but not limited to their inability to organise the funding; Purchasers has the meaning ascribed to it in the preamble hereof; Purchaser Nominee Directors has the meaning ascribed to it in Clause 6.2.2 (b) hereof; Purchaser Warranties has the meaning ascribed to it in Clause 8.1 hereof; Relative shall have the meaning as ascribed to the term in the Act; Respondent has the meaning ascribed to it in Clause 13.11.1 hereof; Restated CMD SPA has the meaning ascribed to it in Recital D hereof; Restated Indemnity Agreement means the amended and restated warranties and indemnity agreement entered into on the Agreement Date between the Holdco, the Holdco Promoters, Opco Promoters, the Purchaser SPV, Snowdrop, the Purchasers and the Company, which shall amend and replace the Indemnity Agreement in its entirety; Restated Minority Shareholders SPA has the meaning ascribed to it in Recital E hereof; Restated OIC Agreement means the share purchase agreement to be entered into between the Purchasers, the Company and Oman Insurance Company PSC on the Agreement Date; Restated Opco Promoters’ SPA has the meaning ascribed to it in Recital F hereof; R&W Insurance means a buy-side representations and warranties insurance policy in a form acceptable to the Purchaser Representatives and the Holdco, from a reputable insurer to be obtained by the Purchasers in relation to indemnity payments by the Holdco (in case of a Direct Transfer or Joint Transfer) and the Holdco Promoters (in case of an In-specie Distribution) to the Indemnified Persons for breach of warranties pursuant to the terms of the Restated Indemnity Agreement;