Purchaser’s Default. Upon Purchaser's default, this Agreement shall be terminated and both parties released from all obligations hereunder, and the deposit shall be retained by the Seller as liquidated damages. Seller shall have no other remedy against Purchaser in the event of Purchaser's default.
Appears in 14 contracts
Samples: Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Contract (Apple Residential Income Trust Inc), First Modification to Purchase Contract (Cornerstone Realty Income Trust Inc)
Purchaser’s Default. Upon upon Purchaser's default, this Agreement shall be terminated and both parties released from all obligations hereunder, and the deposit shall be retained by the Seller as liquidated damages. Seller shall have no other remedy against Purchaser in the event of Purchaser's default.
Appears in 1 contract
Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)
Purchaser’s Default. Upon PurchaserPurohaser's default, this Agreement shall be terminated and both parties released from all obligations hereunder, and the deposit shall be retained by the Seller as liquidated damages. Seller shall have no other remedy against Purchaser in the event of Purchaser's default.
Appears in 1 contract
Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)
Purchaser’s Default. Upon Purchaser's default, this Agreement shall be terminated and both parties released from all obligations hereunder, and the deposit shall be retained by the Seller as liquidated damages. Purchaser shall indemnify Seller for any reasonable costs incurred by Seller in recovering the deposit if litigated. Seller shall have no other remedy against Purchaser in the event of Purchaser's default.
Appears in 1 contract
Samples: Purchase Contract (Apple Residential Income Trust Inc)
Purchaser’s Default. Upon Purchaser's Purchaser"s default, this Agreement shall be terminated and both parties released from all obligations hereunder, and the deposit shall be retained by the Seller as liquidated damages. Seller shall have no other remedy against Purchaser in the event of Purchaser's default.
Appears in 1 contract
Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)
Purchaser’s Default. Upon Purchaser's default, this Agreement shall be terminated and both parties released from all obligations hereunder, and the deposit shall be retained by the Seller as liquidated damages. This section does not apply to Purchaser's obligation under Par. 6.2.3. Seller shall have no other remedy against Purchaser in the event of Purchaser's default.
Appears in 1 contract
Samples: Purchase Contract (Apple Residential Income Trust Inc)
