Common use of Contributor’s Default Clause in Contracts

Contributor’s Default. Except for any breaches waived in writing by FWRLP, if Contributor breaches any of its covenants or obligations under this Agreement or has failed, refused or is unable to consummate the Contribution contemplated herein by the Closing Date or if any of the representations and warranties made by Contributor under this Agreement shall be inaccurate or incorrect in any material respect, then FWRLP shall notify Contributor of such breach in writing and, should Contributor not cure same within five (5) business days of receipt of such default notice, then FWRLP shall be entitled to (i) waive such breach, default or failure, and proceed to Closing, (ii) extend the Closing for such reasonable time or times as may be necessary in order to enable Contributor to remedy such breach, default or failure (but in no event more than three (3) months), (iii) terminate this Agreement and obtain the return of the Deposit, and/or (iv) pursue such remedies as may be available at law or in equity, including without limitation maintaining an action for damages (other than for consequential damages (i.e., lost profits)) and/or specific performance (including without limitation reasonable attorneys' fees and court costs). Notwithstanding the foregoing, if in the event of a failure by the Closing Date of a condition precedent set forth in Section 8 herein and such failure was not known to Contributor at the Acceptance Date and such failure was not caused by any act or omission of Contributor, then FWRLP shall be precluded from maintaining an action for damages pursuant to clause (iv) above with respect to such failure.

Contributor’s Default. Except for any breaches waived in writing by FWRLP, if Contributor breaches any of its covenants or obligations under this Agreement at or prior to Closing or has failed, refused or is unable to consummate the Contribution contemplated herein by the Closing Date or if any of the representations and warranties made by Contributor under this Agreement shall be inaccurate or incorrect in any material respect, then FWRLP shall notify Contributor of such breach in writing and, should Contributor not cure same within five (5) business days of receipt of such default notice, then FWRLP shall be entitled to (i) waive such breach, default or failure, and proceed to Closing, (ii) extend the Closing for such reasonable time or times as may be necessary in order to enable Contributor to remedy such breach, default or failure (but in no event more than not to exceed three (3) months), (iii) terminate this Agreement and obtain the return of the Deposit, and/or (iv) pursue such remedies as may be available at law or in equity, including without limitation maintaining maintain an action for damages (other than for consequential damages (i.e., lost profits)) and/or specific performance and/or (including without limitation reasonable attorneys' fees v) if and court costs). Notwithstanding only if the foregoingbreach, if in failure or refusal is due to the event of a failure by the Closing Date of a condition precedent set forth in Section 8 herein and such failure was not known to Contributor at the Acceptance Date and such failure was not caused by any wrongful act or omission of Contributor, then FWRLP shall be precluded from maintaining maintain an action for damages pursuant against Contributor in an amount not to clause exceed $200,000 (ivexclusive of court costs and reasonable attorneys' fees). In the event this Agreement is terminated, the indemnities set forth in Sections 13(a) above with respect to such failureand 15 shall nevertheless remain in full force and effect.

Contributor’s Default. Except for any breaches waived in writing by FWRLP, if Contributor breaches has breached any of its covenants or obligations under this Agreement or has have failed, refused or is are unable to consummate the Contribution contemplated herein by the Closing Date or if any of the representations and warranties made by Contributor under this Agreement shall be inaccurate or incorrect in any material respect, then FWRLP shall notify Contributor of such breach in writing and, should Contributor not cure same within five (5) business days of receipt of such default noticeincorrect, then FWRLP shall be entitled as its sole and exclusive remedy to (i) (A) waive such breach, default or failure, failure and proceed to Closing, (B) terminate this Agreement and obtain the return of the Deposit, or (C) pursue an action for specific performance, or (ii) extend the Closing for such reasonable time or times (not to exceed 3 months) as may be necessary in order to enable Contributor to remedy such breach, default or failure failure, and if not so remedied by the end of such extension period (but in no event more than three (3) monthsif FWRLP elects such extension), FWRLP shall have the choice of remedies set forth in clause (iiii) terminate this Agreement and obtain above. In the return of the Deposit, and/or (iv) event that FWRLP elects to pursue such remedies as may be available at law or in equity, including without limitation maintaining an action for damages (other than for consequential damages (i.e., lost profits)) and/or specific performance (including without limitation and FWRLP prevails in such action, in addition to any relief awarded to FWRLP, Contributor shall be obligated to pay all reasonable attorneys' fees legal fees, costs and court costs)expenses incurred by FWRLP. Notwithstanding The foregoing exclusive remedy applies solely to Contributor`s failure to consummate the foregoingContribution contemplated herein, if and shall not apply to limit any right or remedy available to FWRLP in the event of a failure by the Closing Date Contributor`s violation of a condition precedent set forth in its post-closing obligations hereunder, including but not limited to Contributor`s post-closing obligations under Section 8 herein 14(a) and such failure was not known to Contributor at the Acceptance Date and such failure was not caused by any act or omission of Contributor, then FWRLP shall be precluded from maintaining an action for damages pursuant to clause (iv) above with respect to such failureSection 18 hereof.

Contributor’s Default. Except for any breaches waived in writing by FWRLP, if Contributor breaches any of its covenants or obligations under this Agreement or has failed, refused or is unable to consummate the Contribution contemplated herein by the Closing Date and such breach is not cured within five (5) days after written notice thereof from FWRLP or if any of the representations and warranties made by Contributor under this Agreement shall be inaccurate or incorrect in any material respectrespect on the Acceptance Date, then FWRLP shall notify Contributor of such breach in writing and, should Contributor not cure same within five (5) business days of receipt of such default notice, then FWRLP shall be entitled to (i) waive such breach, default or failure, and proceed to Closing, (ii) extend the Closing for such reasonable time or times as may be necessary in order to enable Contributor to remedy such breach, default or failure (but in no event more than three (3) months), (iii) terminate this Agreement and obtain the return of the Deposit, and/or (iv) pursue such remedies as may be available at law or in equity, including without limitation maintaining an any action for damages (other than for consequential damages (i.e., lost profits)) and/or specific performance (including without limitation reasonable attorneys' fees and court costs). Notwithstanding the foregoing, if in the event of a failure by the Closing Date of a condition precedent set forth in Section 8 herein and such failure was not known to Contributor at the Acceptance Date and such failure was not caused by provided that any act or omission of Contributor, then FWRLP shall be precluded from maintaining an action for damages pursuant against Contributor shall be limited to clause an amount equal to $50,000.00 (iv) above with respect to such failureexclusive of reasonable attorneys' fees and court costs).