Common use of Events Constituting Clause in Contracts

Events Constituting. a Seller Default. Seller shall be in breach of this Agreement if Seller: (1) Terminates this Agr ement prior to the end of the Agreement without the prior written agreement of Broker. Broker taking down Broker’s sign, cea ing to market the Property after this Agreement is unilaterally terminated by Seller and other similar activities shall not be e idence of the Broker’s agreement to mutually terminate this Agreement, but shall instead merely be an acquiescence by Broker of the unilateral termination by Seller; (2) Defaults under any Contract to Sell the Property procured as a result of Broker’s efforts resulting in such contract not closing; (3) Agrees with a buyer of the Property procured as a result of Broker’s efforts to terminate a Contract to Sell without the consent of Broker; or (4) Refuses to accept a lawful, bona fide, written offer to purchase the Property meeting the following terms and conditions at a time when the Property is not otherwise under contract: (a) The purchase price in the offer, after deducting all fees, costs and contributions to be paid by the Seller (other than the real estate brokerage commission to be paid by Seller and the Seller’s payment of ad valorem real property taxes through the date of closing) is for at least the full listing price set forth herein and is to be paid in cash or cash equivalent at the closing; (b) The offer is not subject to contingencies, conditions precedent, due diligence periods, or required terms other than those set forth herein; (c) The offer is not subject to Seller warranties or representations other than: (i) those warranties the Seller agrees to provide in any Seller’s Property Disclosure Statement the Seller has filled out and made available to prospective buyers for inclusion in any offer, and (ii) the Seller warranting to convey good and marketable title (which for all purposes herein shall have the same meaning as set forth in the GAR Purchase and Sale Agreements) to the Property at closing by limited warranty deed; and (d) The date of closing in the offer is not less than thirty (30) days nor more than forty-five (45) days from the offer date. Notwithstanding the above, in the event there are multiple offers to purchase the Property meeting the above criteria, Seller shall not be in breach of this Agreement if the Seller first gives the prospective buyers a reasonable opportunity (not exceeding ten (10) days from the date of the first offer) to make their best offer to purchase the Property and Seller accepts one of the offers.

Events Constituting. a Seller Default. Seller shall be in breach of this Agreement if Seller: (1) Terminates this Agr ement Agreement prior to the end of the Agreement without the prior written agreement of Broker. Broker removing the listing from multiple listing service(s), taking down Broker’s sign, cea ing ceasing to market the Property after this Agreement is unilaterally terminated by Seller and other similar activities shall not be e idence evidence of the Broker’s agreement to mutually terminate this Agreement, but shall instead merely be an acquiescence by Broker of the unilateral termination by Seller; (2) Defaults under any Contract to Sell the Property procured as a result of Broker’s efforts resulting in such contract not closing; (3) Agrees with a buyer of the Property procured as a result of Broker’s efforts to terminate a Contract to Sell without the consent of Broker; or (4) Refuses to accept a lawful, bona fide, written offer to purchase the Property meeting the following terms and conditions at a time when the Property is not otherwise under contract: (a) The purchase price in the offer, after deducting all fees, costs and contributions to be paid by the Seller (other than the real estate brokerage commission to be paid by Seller and the Seller’s payment of ad valorem real property taxes through the date of closing) is for at least the full listing price set forth herein and is to be paid in cash or cash equivalent equ valent at the closing; (b) The offer is not subject to contingencies, conditions precedent, due diligence periods, or required terms other than those set forth herein; (c) The offer is not subject to Seller warranties or representations other than: (i) those warranties the Seller agrees to provide in any Seller’s Property Disclosure Statement the Seller has filled out and made available to prospective buyers for inclusion in any offer, and (ii) the Seller warranting to convey good and marketable title (which for all purposes herein shall have the same meaning as set forth in the GAR Purchase and Sale Agreements) to the Property at closing by limited warranty deed; and (d) The date of closing in the offer is not less than thirty (30) days nor more than forty-five (45) days from the offer date. Notwithstanding the above, in the event there are multiple offers to purchase the Property meeting the above criteria, Seller shall not be in breach of this Agreement if the Seller first gives the prospective buyers a reasonable opportunity (not exceeding ten (10) days from the date of the first offer) to make their best offer to purchase the Property and Seller accepts one of the offers.

Events Constituting. a Seller Default. Seller shall be in breach of this Agreement if Seller: (1) . Terminates this Agr ement Agreement prior to the end of the Agreement without the prior written agreement of Broker. Broker removing the listing from multiple listing service(s), taking down Broker’s sign, cea ing ceasing to market the Property after this Agreement is unilaterally terminated by Seller and other similar activities shall not be e idence evidence of the Broker’s agreement to mutually terminate this Agreement, but shall instead merely be an acquiescence by Broker of the unilateral termination by Seller; (2) . Defaults under any Contract to Sell the Property procured as a result of Broker’s efforts resulting in such contract not closing; (3) . Agrees with a buyer of the Property procured as a result of Broker’s efforts to terminate a Contract to Sell without the consent of Broker; or (4) . Refuses to accept a lawful, bona fide, written offer to purchase the Property meeting the following terms and conditions at a time when the Property is not otherwise under contract: (a) i. The purchase price in the offer, after deducting all fees, costs and contributions to be paid by the Seller (other than the real estate brokerage commission to be paid by Seller and the Seller’s payment of ad valorem real property taxes through the date of closing) is for at least the full listing price set forth herein and is to be paid in cash or cash equivalent at the closing; (b) ii. The offer is not subject to contingencies, conditions precedent, due diligence periods, or required terms other than those set forth herein; (c) iii. The offer is not subject to Seller warranties or representations other than: (i) those warranties the Seller agrees to provide in any Seller’s Property Disclosure Statement the Seller has filled out and made available to prospective buyers for inclusion in any offer, and (ii) the Seller warranting to convey good and marketable title (which for all purposes herein shall have the same meaning as set forth in the GAR Purchase and Sale Agreements) to the Property at closing by limited warranty deed; and (d) iv. The date of closing in the offer is not less than thirty (30) days nor more than forty-five (45) days from the offer date. Notwithstanding the above, in the event there are multiple offers to purchase the Property meeting the above criteria, Seller shall not be in breach of this Agreement if the Seller first gives the prospective buyers a reasonable opportunity (not exceeding ten (10) days from the date of the first offer) to make their best offer to purchase the Property and Seller accepts one of the offers.. FO