Common use of Purchase Default Clause in Contracts

Purchase Default. In the event Buyer defaults after exercising the Option to Purchase, Buyer shall forfeit ( ☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises to Seller as liquidated damages, which shall be the sole and exclusive remedy available to Seller. In the event Seller defaults after Buyer has exercised the Option to Purchase, (☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises shall be refunded to Buyer, and Buyer may sue for all remedies available at law or in equity.

Purchase Default. In the event Buyer defaults after exercising the Option to Purchase, Buyer shall forfeit ( ☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises to Seller as liquidated damages, which shall be the sole and exclusive remedy available to Seller. In the event Seller defaults after Buyer has exercised the Option to Purchase, (☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises shall be refunded to Buyer, and Buyer may sue xxx for all remedies available at law or in equity.

Purchase Default. In the event Buyer defaults after exercising the Option to Purchase, Buyer shall forfeit ( ☐ [the Deposit and) ] the credit, if any, Buyer would have received if Buyer closed on the Premises to Seller as liquidated damages, which shall be the sole and exclusive remedy available to Seller. In the event Seller defaults after Buyer has exercised the Option to Purchase, (☐ [the Deposit and) ] the credit, if any, Buyer would have received if Buyer closed on the Premises shall be refunded to Buyer, and Buyer may sue for all remedies available at law or in equity.

Purchase Default. In the event Buyer defaults after exercising the Option to Purchase, Buyer shall forfeit ( (☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises to Seller as liquidated damages, which shall be the sole and exclusive remedy available to Seller. In the event Seller defaults after Buyer has exercised the Option to Purchase, (☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises shall be refunded to Buyer, and Buyer may sue xxx for all remedies available at law or in equity.

Purchase Default. In the event Buyer defaults after exercising the Option to Purchase, Buyer shall ☐ forfeit ( ☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises to Seller as liquidated damages, which shall be the sole and exclusive remedy available to Seller. In the event Seller defaults after Buyer has exercised the Option to Purchase, (☐ the Deposit and) the credit, if any, Buyer would have received if Buyer closed on the Premises shall be refunded to Buyer, and Buyer may sue xxx for all remedies available at law or in equity.