Equitable's Default Clause Samples

Equitable's Default. If at the Closing Date the conditions to the obligation of Purchaser to close title as set forth in Article XI have not been fulfilled solely as a result of the default of Equitable hereunder, and the Closing shall not occur as a result thereof, then Purchaser shall be entitled to pursue, at its election, one of the following as its sole and exclusive remedy: (i) terminate this Agreement and have the Deposit returned to it by the Escrow Agent (and in such circumstances Equitable shall join with Purchaser in a written instruction to Escrow Agent to pay the Deposit to Purchaser), (ii) seek specific performance of Equitable's obligations under this Agreement or (iii) in the case of prior sale or mortgaging of the Mall to any person or entity (other than Purchaser or its successors or assigns) in breach of this Agreement, seek damages (but excluding 46 consequential damages) but only if Purchaser has theretofore brought an action seeking specific performance of Equitable's obligations under this Agreement within six months after such prior sale or mortgaging. Except as provided in the preceding clause (iii), Purchaser hereby waives any right to sue ▇▇▇itable for damages (including consequential damages) for any default by Equitable hereunder, but if the Closing occurs, subject to the provisions of Sections 8.05 and 8.06 such waiver shall not apply to damages to which Purchaser may be entitled hereunder by reason of any breach by Equitable of any of its warranties or representations hereunder which survive the Closing.