Common use of Default by the Purchaser Clause in Contracts

Default by the Purchaser. 5.1 If the Purchaser shall fail to pay the Purchase Price in accordance with the terms and conditions herein for any reason not due to the default of the Vendor or the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in breach of any of the material terms, conditions and provisions of this Agreement which if capable of being remedied is not remedied within twenty one (21) days of the Vendor’s notice to the Purchaser, the Vendor shall be entitled to terminate this Agreement at any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fit.

Default by the Purchaser. 5.1 If 14.1 Should the Purchaser shall fail to pay any amount, or fail to provide the Purchase Price guarantee(s) required in accordance with terms of this Agreement on due date, or should the Purchaser commit a breach of any other of the terms and conditions herein of this Agreement and remain in default for any reason not due to 7 days (unless such breach occurs after the default transfer documents have been lodged in the Deeds Office for registration, in which case the 7 day period may at the election of the Vendor Developer be reduced to 48 hours) after dispatch of a written notice requiring payment and/or delivery of the guarantee(s) and/or requiring such breach to be remedied, the Developer shall be entitled without prejudice to any other rights of the Developer in law or in terms of this Agreement including the right to claim interest in terms of 13 above:- 14.1.1 to claim immediate payment of the Purchase Price or the balance of the Purchase Price as the case may be, together with all interest and other moneys which may then be outstanding, all of which shall immediately become due and payable, or 14.1.2 to cancel this Agreement without further notice in which event the Purchaser shall fail, neglect or refuse to observe or perform or otherwise automatically forfeit and the Developer shall be in entitled by way of rouwkoop and/or rental and/or a genuine pre- estimate of damages for breach of any of Contract, to retain all moneys then having been paid by the material termsPurchaser under this Agreement, conditions and provisions of together with all interest accrued thereon, and/or 14.1.3 to cancel this Agreement without further notice and to claim damages, if any, in lieu of such forfeiture, in which if capable of being remedied is not remedied within twenty one (21) days of event the Vendor’s notice to the Purchaser, the Vendor Developer shall be entitled to retain any moneys paid by the Purchaser pending determination of the amount of the damages by Agreement, by Order of Court, or otherwise. 14.2 The Developer may at any time, without prejudice to any other rights or remedies which it may have at law, terminate this Agreement forthwith, if the estate of the Purchaser is at any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to provisionally or finally sequestrated or, if the Purchaser is a juristic person and the Vendor such juristic person is at any time wound up or liquidated, whether final or provisional. 14.3 The Purchaser shall refund within fourteen (14) days from the date of the notice of termination be responsible for and shall pay all other Purchase Price received (save for the Agreed LAD) legal costs incurred by the Vendor from the Purchaser Developer in accordance with the provisions pursuant to enforcing its rights in terms of this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment a scale as between an attorney and in exchange of such refund, the Purchaser shall at their his own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitclient.

Default by the Purchaser. 5.1 If Should the Purchaser PURCHASER be in default in payment of any CONTRACT installment and/or other amounts due under this CONTRACT, then the PURCHASER shall fail pay to the CONTRACTOR - as from the due date - interest thereon at the rate of 0,1 % per annum over 3 months EURIBOR, up to maximum of 30 % of the CONTRACT price. The CONTRACTOR shall only be entitled to the above interest if the PURCHASER fails to pay the Purchase Price payment even within 10 days from the date of receipt of the prior written notice of his default in payment. After prior written notice to the PURCHASER the CONTRACTOR shall be entitled to one day's postponement of the Delivery Date of the VESSEL for each day of delay in excess of two days in the payment of the aforesaid sums and if the delay exceeds 60 days as from the due date the CONTRACTOR shall have the option to suspend the CONTRACTOR's obligations under this CONTRACT until payment of such sums and interest thereon has been received by the CONTRACTOR. If the aforesaid delay exceeds 90 calendar days from the due date, the CONTRACTOR, even if it has elected to suspend the work as aforesaid, after prior written notice and failure of the PURCHASER to comply with the obligation within an additional period of 7 days, may have the right to terminate the CONTRACT by giving notice in writing, which may be by e-mail if confirmed by letter, to the PURCHASER about such termination. In this event the CONTRACTOR shall be entitled to recover damages from the PURCHASER in respect of any loss that the CONTRACTOR has suffered by reason of the PURCHASER's default. Should the PURCHASER fail to take delivery of the completed VESSEL in accordance with the terms and conditions herein for any reason not of this CONTRACT the amounts due on or related to delivery by the PURCHASER to the default of the Vendor or the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in breach of any of the material terms, conditions and provisions of this Agreement which if capable of being remedied is not remedied within twenty one (21) days of the Vendor’s notice to the Purchaser, the Vendor CONTRACTOR shall be entitled regarded as having fallen due upon receipt of written notice. The CONTRACTOR shall inform the PURCHASER about the dates on which the PURCHASER has to terminate this Agreement at any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest deliver its supplies at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitShipyard.

Default by the Purchaser. 5.1 If 14.1 In the event that the Purchaser shall fail to pay the Purchase Price in accordance with the terms and conditions herein for or any reason not due part thereof to the Vendor in the manner and within the time stipulated in this Agreement without any default of the Vendor or Vendor, then it is hereby agreed between the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in breach of any of the material terms, conditions and provisions of this Agreement which if capable of being remedied is not remedied within twenty one (21) days of the Vendor’s notice to the Purchaser, Parties that the Vendor shall be entitled to terminate this Agreement at any time thereafter and forfeit the Deposit paid to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only Vendor absolutely as the agreed liquidated damages (hereinafter referred and all other monies in excess of the Deposit paid to as the “Agreed LAD”) by notice in writing Vendor hereunder shall be refunded to the Purchaser and the Vendor shall refund free of interest within fourteen (14) days from the date of the notice Purchaser’s Solicitors’ receipt of a written notification from the Vendor’s Solicitors of such termination all other Purchase Price received (save in simultaneous exchange for the Agreed LAD) return of all documents forwarded to the Purchaser and/or the Purchaser’s Solicitors and/or the Purchaser’s Financier and/or the Purchaser’s Financier’s Solicitors by the Vendor from and/or the Vendor’s Solicitors with the Vendor’s interest remaining intact (if the Memorandum of Transfer is not required by the stamp office for cancellation and refund of the stamp duty paid by the Purchaser) and redelivery of vacant possession of the said Property (if it has already been delivered to the Purchaser) substantially in the same state and condition (fair wear and tear excepted) and further upon proof of withdrawal of any private caveat lodged by the Purchaser in accordance with and/or the provisions pursuant Purchaser’s Financier (if any) Provided Always That if the Vendor fails to this Agreement refund the said monies free of interestinterest within the said fourteen (14) days, failing which the Purchaser shall be entitled to an interest at the rate of eight per centum (8%) per annum on the said monies or any part thereof remain outstanding calculated on a daily rests shall be paid on the aforesaid Purchase Price to be refunded basis from the expiry of the due date to fourteenth (14th) day until the actual date of actual payment and in exchange of such refundpayment. Thereafter, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate become null and be of void and shall have no further effect and neither parties Party hereto shall have any claim claims against the other save for antecedent breach and thereafter the Vendor shall be at liberty to deal dispose of the said Property to such party and in such manner as the Vendor may in his sole discretion deem fit. For clarification purpose, no such interest shall think fitbe payable by the Vendor to the Purchaser until and unless all the aforesaid documents and/or vacant possession of the said Property have been deposited with and/or redelivered to the Vendor simultaneously with the refund of the said monies by the Vendor to the Purchaser.

Default by the Purchaser. 5.1 If 12.1 Provided Always That the Vendor is ready, willing and able to perform the Vendor's obligation under this Agreement, in the event:- (a) the Purchaser shall fail to pay the Purchase Price within the time and in accordance with the terms and conditions herein for any reason not due to the default of the Vendor or manner stated in Clause 3 hereof; or (b) the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in breach of any of the material terms, conditions and provisions term of this Agreement which if capable of being remedied is not remedied within twenty one (21) days of Agreement, without any default by the Vendor’s notice to the Purchaser, the Vendor shall be entitled to terminate this Agreement at any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to require the Purchaser and the Vendor shall refund to remedy such breach within fourteen (14) days from the date of the receipt of such notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from and if the Purchaser in accordance with fails to remedy the provisions pursuant to this Agreement free of interestrelevant default or breach within the stipulated fourteen (14) days; then, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal terminate this Agreement by a notice in writing to the Purchaser whereupon: (i) the Deposit shall be forfeited to the Vendor absolutely as agreed compensation and the Vendor shall be entitled to retain or recover the same (if unpaid) and be at liberty to sell or otherwise dispose of the Property in such manner as the Vendor shall think fitfit without being liable to the Purchaser for any profit made on such sale or dealing; and (ii) the Vendor shall refund or cause to be refunded to the Purchaser all other monies paid by the Purchaser to the Vendor towards payment of the Balance Purchase Price free of interest in exchange for the Purchaser's compliance with Clause 12.2 herein. 12.2 In the event of termination of this Agreement pursuant to Clause 12.1 above, the Purchaser shall in exchange for the refund provided in Clause 12.1(ii) hereof (if applicable) or where there is no money required to be refunded, the Purchaser shall in exchange comply with the following:- (a) return or cause to be returned to the Vendor all documents (inclusive of the Transfer Documents) which were delivered to the Purchaser or the Purchaser's Solicitors or the Financier or the Financier's solicitors under the provisions of this Agreement with the Vendor's right, title and interests intact; (b) remove or cause to be removed any private caveat entered on the Sale Property by the Purchaser or the Purchaser's Financier or any other person claiming under the Purchaser, at the Purchaser's own costs and expenses; (c) deliver the RPGT Termination Letter; and (d) upon the Purchaser's compliance with the above, neither party shall thereafter have any claims whatsoever against the other in respect of this Agreement save on any antecedent breach of this Agreement.

Default by the Purchaser. 5.1 If 13.1 Should the Purchaser shall fail to pay any amount, or fail to provide the Purchase Price guarantee(s) required in accordance with terms of this Agreement on due date, or should the Purchaser commit a breach of any other of the terms and conditions herein of this Agreement and remain in default for any reason not due to 7 days (unless such breach occurs after the default transfer documents have been lodged in the Deeds Office for registration, in which case the 7 day period may at the election of the Vendor Developer be reduced to 48 hours) after dispatch of a written notice requiring payment and/or delivery of the guarantee(s) and/or requiring such breach to be remedied, the Developer shall be entitled without prejudice to any other rights of the Developer in law or in terms of this Agreement including the right to claim interest in terms of 12 above:- 13.1.1 to claim immediate payment of the Purchase Price or the balance of the Purchase Price as the case may be, together with all interest and other moneys which may then be outstanding, all of which shall immediately become due and payable, or 13.1.2 to cancel this Agreement without further notice in which event the Purchaser shall fail, neglect or refuse to observe or perform or otherwise automatically forfeit and the Developer shall be in entitled by way of rouwkoop and/or rental and/or a genuine pre- estimate of damages for breach of any of Contract, to retain all moneys then having been paid by the material termsPurchaser under this Agreement, conditions and provisions of together with all interest accrued thereon, and/or 13.1.3 to cancel this Agreement without further notice and to claim damages, if any, in lieu of such forfeiture, in which if capable of being remedied is not remedied within twenty one (21) days of event the Vendor’s notice to the Purchaser, the Vendor Developer shall be entitled to retain any moneys paid by the Purchaser pending determination of the amount of the damages by Agreement, by Order of Court, or otherwise. 13.2 The Developer may at any time, without prejudice to any other rights or remedies which it may have at law, terminate this Agreement forthwith, if the estate of the Purchaser is at any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to provisionally or finally sequestrated or, if the Purchaser is a juristic person and the Vendor such juristic person is at any time wound up or liquidated, whether final or provisional. 13.3 The Purchaser shall refund within fourteen (14) days from the date of the notice of termination be responsible for and shall pay all other Purchase Price received (save for the Agreed LAD) legal costs incurred by the Vendor from the Purchaser Developer in accordance with the provisions pursuant to enforcing its rights in terms of this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment a scale as between an attorney and in exchange of such refund, the Purchaser shall at their his own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitclient.

Default by the Purchaser. 5.1 If the (i) Purchaser shall fail to pay default in the Purchase Price in accordance with the terms and conditions herein for any reason not due to the default of the Vendor or the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in breach of any of the material terms, conditions and provisions of this Agreement which if capable of being remedied is not remedied within twenty one (21) days of the Vendor’s notice to the Purchaser, the Vendor shall be entitled to terminate this Agreement at any time thereafter and to forfeit such part payment of the Purchase Price equivalent or if Purchaser shall default in the performance of any of its other material obligations to Ringgit Malaysia Three Hundred Thousand be performed on the Closing Date, or (RM300,000ii) only as Purchaser shall default in the agreed liquidated damages (hereinafter referred performance of any of its material obligations to as the “Agreed LAD”) by notice in writing be performed prior to the Purchaser Closing Date and, with respect to any default under this clause (ii) only, such default shall continue for 5 days after notice to Purchaser, then Seller’s sole and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests exclusive remedy shall be paid on to cause Title Company to deliver the aforesaid Purchase Price ▇▇▇▇▇▇▇ Money to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refundSeller, the Purchaser shall at their own cost and expense: - amount thereof being fixed as liquidated damages. BY INITIALING THIS SECTION 11.2 IN THE SPACE PROVIDED BELOW, PURCHASER, OWNER AND SELLER AGREE THAT IF THE CLOSING FAILS TO OCCUR BY REASON OF EITHER OF THE OCCURRENCES IDENTIFIED IN (i) withdraw all caveats lodged by or on behalf of the Purchaser; and AND (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save in the event that the stamp duty has been paid on the Memorandum of TransferABOVE, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty)THE ▇▇▇▇▇▇▇ MONEY SHALL BE DEEMED LIQUIDATED DAMAGES FOR PURCHASER’S NON-PERFORMANCE AS SELLER’S SOLE AND EXCLUSIVE REMEDY AGAINST PURCHASER. PURCHASER AND SELLER AGREE THAT IT WOULD BE IMPRACTICAL AND EXTREMELY DIFFICULT TO FIX ACTUAL DAMAGES RESULTING FROM SUCH DEFAULT, whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fit.DUE TO THE NATURE OF THIS TRANSACTION AND THE UNIQUE NATURE OF THE PROPERTY, AND THAT A REASONABLE ESTIMATE OF SELLER’S DAMAGES IN SUCH EVENT IS THE ▇▇▇▇▇▇▇ MONEY. PURCHASER AND SELLER AGREE THAT LIQUIDATED DAMAGES ARE PARTICULARLY APPROPRIATE FOR THIS TRANSACTION AND AGREE THAT SAID LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OF PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL CODE SECTION 3275 OR 3369, BUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER UNDER CALIFORNIA CIVIL CODE SECTIONS 1671, 1676 AND 1677. SELLER’S INITIALS _________________________ PURCHASER’S INITIALS _________________________ OWNER’S INITIALS _________________________

Default by the Purchaser. 5.1 If Should the Purchaser shall Purchaser: 26.1 fail to pay any amount due, or 26.2 fail to provide the Purchase Price guarantee required in accordance with the terms and conditions herein for any reason not of this Agreement on due to the default of the Vendor or the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in date; or 26.3 commit a breach of any of the material terms, terms and conditions and provisions of this Agreement which if capable of being remedied is not remedied within twenty one and remain in default for 7 (21seven) days (except where such breach occurs at a time critical to the registration procedure in which case the 7 (seven) day period may at the election of the Vendor’s Seller be reduced to 48 (forty-eight) hours after having received written notice from the Seller requiring: 26.3.1 payment; or 26.3.2 delivery of the guarantee; or 26.3.3 such breach to be remedied, the Seller shall be entitled without prejudice to any other rights of the Seller in law or in terms of this Agreement (including the right to claim interest): 26.3.3.1 to claim immediate payment of the purchase price or the balance of the purchase price as the case may be together with all interest and other monies which may then be outstanding, all of which shall immediately become due and payable; or 26.3.3.2 to cancel this Agreement without further notice and the Purchaser shall automatically forfeit to the PurchaserSeller and the Seller shall be entitled by way of recoupment or occupational rental or genuine pre-estimate of damages for breach of contract to retain monies which the Seller had been lawfully proved to be entitled then having been paid by the Purchaser under this Agreement, or 26.3.3.3 to cancel this Agreement without further notice and to claim damages, if any, in lieu of or in addition to such forfeiture, in which event the Vendor Seller shall be entitled to terminate retain any monies paid by the Purchaser pending determination of the amount of the damages by agreement or by order of Court or otherwise. 26.4 Should this Agreement at any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refundcancelled, the Purchaser shall at their own cost immediately give up possession of and expense: - vacate the Property (iif applicable) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return and shall cease to the Vendor’s Solicitors all the documents provided by the Vendor have any rights under this Agreement with and the Vendor’s interest intact (save in Seller shall immediately be entitled to resell the event that the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer Property. 26.5 The Purchaser shall be retained liable for all and any costs, including attorney and own client costs, collection commission or tracing agents fees, incurred by the Purchaser’s Solicitors Seller arising out of or in connection with any breach by the Purchaser of any of the provisions of this Agreement, or any other matter relating to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitAgreement.

Default by the Purchaser. 5.1 If 9.1 Should the Purchaser shall fail to pay any amount, or fail to provide the Purchase Price guarantee(s) required in accordance with terms of this agreement on due date or commit a breach of any other of the terms and conditions herein of this agreement and remain in default for any reason not due 7 days (unless such breach occurs at a time critical to the default registration procedure in which case the 7 day period may at the election of the Vendor Seller be reduced to 48 hours) after dispatch of a written notice requiring payment and/or delivery of the guarantee(s) and/or requiring such breach to be remedied, the Seller shall be entitled without prejudice to any other rights of the Seller in law or in terms of this agreement including the right to claim interest. 9.1.1 to claim immediate payment of the purchase price or the balance of the purchase price as the case may be, together with all interest and other moneys which may then be outstanding, all of which shall immediately come due and payable, or 9.1.2 to cancel this agreement without further notice in which event the Purchaser shall failautomatically forfeit and the Seller shall be entitled by way of rouwkoop and/or rental and/or a genuine pre- estimate of damages for breach of contract, neglect to retain all moneys then having been paid by the Purchaser under this agreement, or 9.1.3 to cancel this agreement without further notice and to claim damages, if any, in lieu of or refuse in addition to observe such forfeiture, in which event the Seller shall be entitled to retain any moneys paid by the Purchaser pending determination of the amount of the damages by agreement, by order of court, or perform otherwise. 9.2 Should this agreement be cancelled in terms of 9.1.2 or otherwise 9. 1.3 the Purchaser shall forthwith give up possession of and vacate the property and shall cease to have any rights under this agreement and the Seller shall immediately be entitled to resell the property. 9.3 The Purchaser shall be liable for all and any costs, including attorney and own client costs, collection commission or tracing agent’s fees, incurred by the Seller arising out of or in connection with any breach by the Purchaser of any of the material terms, conditions and provisions of this Agreement which if capable agreement, or any other matter relating to this agreement. 9.4 No indulgence granted by the Seller shall constitute an estoppel or a waiver of being remedied is not remedied within twenty one (21) days any of the VendorSeller’s notice to the Purchaserrights under this agreement. Accordingly, the Vendor Seller shall not be entitled to terminate this Agreement at precluded, as a consequence of having granted such indulgence, from exercising all or any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to right against the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save may have arisen in the event that past or which may arise in the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitfuture.

Default by the Purchaser. 5.1 If 12.1. Should the Purchaser shall fail to pay any amount, or fail to provide the Purchase Price guarantee/s required in accordance with terms of this agreement on due date, or commit a breach or any other of the terms and conditions herein for any reason not due of this agreement and remain in default seven days (unless such breach occurs at a time critical to the default registration procedure, in which case the seven day period may at the election of the Vendor Seller be reduced to 48 hours), after dispatch of written notice requiring payment and/or delivery of the guarantee/s and/or requiring such breach to be remedied, the Seller shall be entitled without prejudice to any other rights of the Seller, in law or in terms of this agreement, including the right to claim interest in terms of the Penalty Interest Clause: 12.1.1. to claim immediate payment of the Purchase Price or the balance of the Purchase Price as the case may be, together with all interest and other moneys which may then be outstanding, all of which shall immediately become due and payable; or 12.1.2. to cancel this agreement without further notice, in which event the Purchaser shall failautomatically forfeit and the Seller shall be entitled by way of “rouwkoop” and/or rental and/or a genuine pre-estimate of damages for breach of contract, neglect to retain all moneys then having been paid by the Purchaser under this agreement; or 12.1.3. to cancel this agreement without further notice and to claim damages if any, in lieu of or refuse in addition to observe such forfeiture in which event the Seller shall be entitled to retain any moneys paid by the Purchaser pending determination of the amount of the damages by agreement, by Order of Court, or perform otherwise. 12.2. Should this agreement be cancelled in terms of the preceding clauses, the Purchaser shall forthwith give up possession of, and vacate the property and shall cease to have any rights under this agreement, and the Seller shall immediately be entitled to resell the property. 12.3. The Purchaser shall be liable for all and any costs, including attorney and own client costs, collection commission or otherwise be tracing agents’ fees incurred by the Seller, arising out of or in connection with any breach by the Purchaser of any of the material terms, conditions and provisions of this Agreement which if capable agreement, or any other matter relating to this agreement. 12.4. No indulgence granted by the Seller shall constitute an estoppel or waiver of being remedied is not remedied within twenty one (21) days any of the VendorSeller’s notice to the Purchaserrights under this agreement. Accordingly, the Vendor Seller shall not be entitled to terminate this Agreement at precluded as a consequence of having granted such indulgence from exercising all or any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to rights against the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save may have arisen in the event that past or which may arise in the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitfuture.

Default by the Purchaser. 5.1 If (i) the Purchaser shall have made any representation or warranty herein which shall be untrue or misleading in any material respect, or (ii) if the Purchaser shall fail to perform any of the covenants and agreements contained herein and such condition or failure shall continue for a period of ten (10) days (or such additional period as may be reasonably required to effectuate a cure of the same; provided that no such extension of time shall apply to Purchaser's failure to pay the Purchase Price at Closing or otherwise operate to extend the Closing Date) after notice thereof from the Seller, or (iii) the Seller becomes entitled to terminate (and in accordance with fact terminates) the terms and conditions herein for any reason not due 3-Pack Contract as a result of Purchaser's default pursuant to the default Section 10.2 of the Vendor 3-Pack Contract, the Seller may, as its sole and exclusive remedy, at law, or in equity, terminate this Agreement, whereupon the Purchaser shall failpay to the Seller, neglect or refuse to observe or perform or otherwise be in breach of any as liquidated damages and not as a penalty, for and on account of the material termsProperty (and the properties remaining unsold under the 3-Pack Contract, conditions and provisions if any) the sum of this Agreement Three Million One Hundred Fifty-two Thousand Six Hundred Eighty Dollars ($3,152,680.00) (which if capable of being remedied sum is not remedied within twenty one (21) days inclusive of the Vendor’s notice amount of liquidated damages, if any, paid or payable by Purchaser pursuant to the Purchaser, the Vendor shall be entitled to terminate this Agreement at any time thereafter and to forfeit such part Section 10.02 of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as 3-Pack Contract, it being the agreed intent and agreement of the parties that Purchaser's aggregate liability for liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with and the Vendor’s interest intact (save 3-Pack Contract shall not exceed $3,152,680.00, including any portion of the Aggregate Deposit applied thereto pursuant to Section 10.3 hereof or Section 10.3 of the 3-Pack Contract), plus the reasonable attorneys' fees and expenses incurred by Seller in enforcing this Agreement and/or the event 3-Pack Contract against Purchaser in respect of Purchaser's default. It is understood and agreed that the stamp duty has been paid on the Memorandum for purposes of Transferthis Section 10.2, the Memorandum of Transfer if a default results from a false representation or warranty, such default shall be retained by deemed cured if the Purchaser’s Solicitors events, conditions, acts or omissions giving rise to obtain the falsehood are cured within the applicable cure period even though, as a refund technical matter, such representation or warranty was false as of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitdate actually made.

Default by the Purchaser. 5.1 If the Purchaser or Guarantors shall have made any representation or warranty herein which shall be untrue in any material respect when made or updated as herein provided, or if the Purchaser shall fail to pay the Purchase Price in accordance with the terms and conditions herein for any reason not due to the default of the Vendor or the Purchaser shall fail, neglect or refuse to observe or perform or otherwise be in breach of any of the material terms, conditions covenants and provisions agreements contained herein and such condition or failure continues for a period of this Agreement which if capable of being remedied is not remedied within twenty one ten (2110) days (or such additional period as may be reasonably required to effectuate a cure of the Vendor’s same) after notice to thereof from the PurchaserSeller or Tenant, either the Vendor shall be entitled to Seller or the Tenant may terminate this Agreement with respect to the affected Property and each of Seller and Tenant may respectively elect that either Purchaser or Guarantors shall reimburse to Seller or Tenant, as the case may be, the Seller's or the Tenant's respective direct, out of pocket expenses incurred in respect of such affected Property (and an allocable share of expenses attributable generally to the transactions contemplated by this Agreement and not attributable specifically to any Property), not to exceed $30,000 per Property per party, or the Seller and/or Tenant may instead elect to pursue any and all remedies available to them at law or in equity, including, but not limited to, a suit for specific performance or other equitable relief, provided, however, that, (x) in no event shall the Purchaser be liable for (and Seller and Tenant hereby agree that they will not commence or prosecute any time thereafter action for) consequential or punitive or exemplary damages (other than Tenant's, Crestline's, Seller's or MI's reasonable attorneys' fees and expenses pursuant to forfeit such part Section 11.11 hereof or for any matter indemnified pursuant to Section 11.1 hereof) and (y) in no event shall the aggregate liability of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact exceed an amount equal to five percent (save in the event that the stamp duty has been paid on the Memorandum of Transfer5%) (provided, the Memorandum of Transfer Tenant and Crestline together shall be retained limited to, and shall not recover in excess of, one percent (1%) of such Allocable Purchase Price from Purchaser) of the aggregate of the Allocable Purchase Prices for all of the Properties affected by the default plus any amounts necessary to be paid to indemnify and hold harmless Tenant, Crestline, Seller or MI pursuant to Section 11.1 and the reasonable attorneys' fees and expenses incurred by Seller and/or Tenant in enforcing the Agreement against Purchaser in respect of Purchaser’s Solicitors to obtain 's default. It is understood and agreed that for purposes of this Section 10.2, if a refund of stamp duty)default results from a false representation or warranty, whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor such default shall be at liberty deemed cured if the events, conditions, acts or omissions giving rise to deal the Property in falsehood are cured within the applicable cure period even though, as a technical matter, such manner representation or warranty was false as of the Vendor shall think fitdate actually made.

Default by the Purchaser. 5.1 If 9.1 Should the Purchaser shall fail to pay any amount, or fail to provide the Purchase Price guarantee(s) required in accordance with terms of this agreement on due date or commit a breach of any other of the terms and conditions herein of this agreement and remain in default for any reason not due 7 days (unless such breach occurs at a time critical to the default registration procedure in which case the 7 day period may at the election of the Vendor Seller be reduced to 48 hours) after dispatch of a written notice requiring payment and/or delivery of the guarantee(s) and/or requiring such breach to be remedied, the Seller shall be entitled without prejudice to any other rights of the Seller in law or in terms of this agreement including the right to claim interest. 9.1.1 to claim immediate payment of the purchase price or the balance of the purchase price as the case may be, together with all interest and other moneys which may then be outstanding, all of which shall immediately come due and payable, or 9.1.2 to cancel this agreement without further notice in which event the Purchaser shall failautomatically forfeit and the Seller shall be entitled by way of rouwkoop and/or rental and/or a genuine pre-estimate of damages for breach of contract, neglect to retain all moneys then having been paid by the Purchaser under this agreement, or 9.1.3 to cancel this agreement without further notice and to claim damages, if any, in lieu of or refuse in addition to observe such forfeiture, in which event the Seller shall be entitled to retain any moneys paid by the Purchaser pending determination of the amount of the damages by agreement, by order of court, or perform otherwise. 9.2 Should this agreement be cancelled in terms of 9.1.2 or otherwise 9. 1.3 the Purchaser shall forthwith give up possession of and vacate the property and shall cease to have any rights under this agreement and the Seller shall immediately be entitled to resell the property. 9.3 The Purchaser shall be liable for all and any costs, including attorney and own client costs, collection commission or tracing agents fees, incurred by the Seller arising out of or in connection with any breach by the Purchaser of any of the material terms, conditions and provisions of this Agreement which if capable agreement, or any other matter relating to this agreement. 9.4 No indulgence granted by the Seller shall constitute an estoppel or a waiver of being remedied is not remedied within twenty one (21) days any of the VendorSeller’s notice to rights under this agreement. Accordingly the PurchaserSeller shall not be precluded, the Vendor shall be entitled to terminate this Agreement at as a consequence of having granted such indulgence, from exercising all or any time thereafter and to forfeit such part of the Purchase Price equivalent to Ringgit Malaysia Three Hundred Thousand (RM300,000) only as the agreed liquidated damages (hereinafter referred to as the “Agreed LAD”) by notice in writing to right against the Purchaser and the Vendor shall refund within fourteen (14) days from the date of the notice of termination all other Purchase Price received (save for the Agreed LAD) by the Vendor from the Purchaser in accordance with the provisions pursuant to this Agreement free of interest, failing which interest at the rate of eight per centum (8%) per annum on daily rests shall be paid on the aforesaid Purchase Price to be refunded from the expiry of the due date to the date of actual payment and in exchange of such refund, the Purchaser shall at their own cost and expense: - (i) withdraw all caveats lodged by or on behalf of the Purchaser; and (ii) return to the Vendor’s Solicitors all the documents provided by the Vendor under this Agreement with the Vendor’s interest intact (save may have arisen in the event that past or which may arise in the stamp duty has been paid on the Memorandum of Transfer, the Memorandum of Transfer shall be retained by the Purchaser’s Solicitors to obtain a refund of stamp duty), whereupon this Agreement shall terminate and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be at liberty to deal the Property in such manner as the Vendor shall think fitfuture.