Donor’s Default Clause Samples
Donor’s Default. If Donor defaults in the performance of any of Donor’s obligations under this Agreement or if any of Donor’s representations or warranties in Section 7 are found to be inaccurate prior to Closing, Donee may cancel this Agreement by proving written notice of cancellation to Donor or initiate a civil action to compel Donor’s specific performance of Donor’s obligations under this Agreement.
Donor’s Default. If Donor defaults in its obligations hereunder or makes any material misrepresentation or breaches any warranty, the Donee may, at its option, either:
(A) Terminate this Agreement, whereupon the obligations of the parties hereto, other than those expressly set forth to survive termination hereof, shall terminate, or
(B) Terminate this Agreement, whereupon the obligations of the parties hereto, other than those expressly set forth to survive termination hereof, and receive reimbursement from Donor of (i) all of Donee's expenses in testing the property during the Contingency Period, (ii) all of Donee's expenses in designing the Town Center, and (iii) all of Donee's expenses in preparation for Closing. This Section shall survive Closing or other termination of this Agreement.
Donor’s Default. If Donor fails to perform any of its obligations under this Agreement or if any of Donor’s representations is not true and correct as of the Effective Date or on the Closing Date (“Donor’s Default”), and Donor fails to reasonably cure the default within five (5) days after receiving written notice of it from the City, City may as its sole and exclusive remedy terminate this Agreement by giving notice to Donor on or before the Closing Date and Closing Time.