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
Sources: Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc), 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
Sources: Purchase Contract (Apple Residential 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. Seller shall have no other remedy against Purchaser in the event of This section does not apply to Purchaser's defaultobligation under Par. 6.
Appears in 1 contract
Sources: Purchase Contract (Apple Residential 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
Sources: 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
Sources: Purchase Contract (Cornerstone Realty 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
Sources: Purchase Contract (Cornerstone Realty Income Trust Inc)