Common use of Purchaser Default Clause in Contracts

Purchaser Default. If Purchaser shall become in material breach of or material default under this Agreement and the breach or default continues beyond the expiration of the cure period, if any, provided in Section 13.7 hereof, the Deposit shall be retained by Sellers as liquidated damages, and all parties shall be relieved of and released from any further liability hereunder except for the Surviving Obligations. Sellers and Purchaser agree that the Deposit is a fair and reasonable amount to be retained by Sellers as agreed and liquidated damages in light of Sellers' removal of the Property from the market and the costs incurred by Sellers and shall not constitute a penalty or a forfeiture.

Purchaser Default. If Purchaser shall become in material breach of or material default under this Agreement and the breach or default continues beyond the expiration of the cure period, if any, provided in Section 13.7 14.7 hereof, the Deposit shall be retained by Sellers as liquidated damages, and all parties shall be relieved of and released from any further liability hereunder except for the Surviving Obligations. Sellers and Purchaser agree that the Deposit is a fair and reasonable amount to be retained by Sellers as agreed and liquidated damages in light of Sellers' removal of the Property from the market and the costs incurred by Sellers and shall not constitute a penalty or a forfeiture.

Purchaser Default. If Purchaser shall become in material breach of or material default under this Agreement and the breach or default continues shall continue beyond the expiration of the cure period, if any, provided in Section 13.7 11.6 hereof, the Deposit shall be retained by Sellers Seller as liquidated damages, and all both parties shall be relieved of and released from any further liability hereunder except for the Surviving Obligations. Sellers Seller and Purchaser agree that the Deposit is a fair and reasonable amount estimate of the actual damages to be retained sustained by Sellers Seller as agreed and liquidated damages a result of such breach, in light of Sellers' Seller’s removal of the Property from the market and the costs incurred by Sellers Seller, and shall be retained by Seller as agreed and liquidated damages and shall not constitute a penalty or a forfeiture.

Purchaser Default. If Purchaser shall become in material breach of or material default under this Agreement and the breach or default continues beyond the expiration of the notice and cure period, if any, provided in Section 13.7 11.6 hereof, the Deposit shall be retained by Sellers Seller as liquidated damages, and all both parties shall be relieved of and released from any further liability hereunder except for the Surviving Obligations. Sellers Seller and Purchaser agree that the Deposit is a fair and reasonable amount to be retained by Sellers Seller as agreed and liquidated damages in light of Sellers' Seller’s removal of the Property from the market and the costs incurred by Sellers Seller and shall not constitute a penalty or a forfeiture.