Default; Specific Performance Clause Samples

Default; Specific Performance. If Seller shall default under any of its obligations hereunder, Buyer may terminate this Agreement, in which case the Deposit shall be refunded to Buyer. Either party may seek specific performance and enforcement of this Agreement by a court of law having jurisdiction hereof in the event of default by the other party in the performance of its obligation under the terms of this Agreement.

Default; Specific Performance. If Sellers or the Company shall fail or refuse to consummate the transactions set forth in this Agreement on or prior to the Closing Date in breach of this Agreement, or otherwise breach any other material obligation hereunder, then, in addition to any other remedies available to Buyer, Buyer may, at its option, invoke any equitable remedies it may have to enforce the sale of the Purchased Interests hereunder or such other material provision, including, without limitation, an action or suit for specific performance. Each Seller acknowledges that in the event of such Seller's breach of its obligations hereunder, Buyer will suffer irreparable harm and such Seller hereby irrevocably waives the defense that Buyer has an adequate remedy at law. If Buyer shall fail or refuse to consummate the transactions set forth in this Agreement on or prior to the Closing Date in breach of this Agreement, or otherwise breach any other material obligation hereunder, then, in addition to any other remedies available to Sellers, any Seller may, at its option, invoke any equitable remedies it may have to enforce the purchase of the Purchased Interests hereunder, including, without limitation, an action or suit for specific performance. Buyer acknowledges that in the event of Buyer's breach of its obligations hereunder, Sellers will suffer irreparable harm and Buyer hereby irrevocably waives the defense that Sellers have an adequate remedy at law.

Default; Specific Performance. (a) In the event that Buyer shall fail to perform, observe or comply with any of its covenants, agreements or obligations hereunder, including, without limitation, Buyer's obligation to pay the Purchase Price when due, or if Buyer shall otherwise be in default hereunder, this Agreement, at Seller's option, shall be terminated whereupon this Agreement shall terminate and become null and void and, except as otherwise provided herein, and Buyer and Seller shall be released and discharged of all further claims and obligations to each other hereunder, the parties agreeing that Seller's actual damages would be difficult or impossible to determine if Buyer defaults and the ability to convey ownership of the Property has a unique value to Seller. (b) In the event that the sale of the Property shall fail to close as a result of the failure of Seller to perform, observe or comply with any of its covenants, agreements or obligations hereunder (subject to the right of Seller to extend the Closing Date pursuant to Paragraph 11 or 14), this Agreement, at Buyer's option, shall be terminated whereupon this Agreement shall terminate and become null and void and, except as otherwise provided herein, and Buyer and Seller shall be released and discharged of all further claims and obligations to each other hereunder, or Buyer may commence an action for specific performance of this Agreement, the parties agreeing that Buyer's actual damages would be difficult or impossible to determine if Seller defaults and the ownership of the Property has a unique value to Buyer.

Default; Specific Performance. If any payment or any other condition hereof is not made, tendered or performed by either the Seller or the Buyer, as herein provided, then this Contract, at the option of the party who is not in default or breach, may at that party's option, be terminated by such party, in which case the non-defaulting party may recover such damages as may be proper, or such party may require specific performance of the other herein. In the event of default by either party hereto, the defaulting party shall pay the non-defaulting party their reasonable attorneys' fees and costs necessary to enforce their rights herein, whether by litigation or otherwise, as may be incurred as a result of said default.

Default; Specific Performance. 7.1 In the event all other conditions of this Agreement required to be performed by a Party hereunder has been performed, and the other Party fails to close on the Closing Date, the performing Party shall not be entitled to Specific Performance. In event the County or Town fail to close on the Closing Date and the Parties do not mutually agree in writing to extend the Closing Date, the Parties shall walk away whole and this Agreement shall be Void and Null, as if it had never been entered into, with neither Party owing any compensation or damages to the other Party.