Termination As A Consequence Of A Buyer Default Termination Sample Clauses

Termination As A Consequence Of A Buyer Default Termination. In the event this Agreement terminates as a result of a Buyer Default Termination, Seller's sole and exclusive remedy shall be strictly limited to (x) the retention of the Property and of the Deposit (together with the interest earned thereon) as liquidated damages, and (y) any actual damages the Seller has sustained, after application of the Deposit (together with any interest thereon), up to $1,500,000. In no event shall Buyer have any liability to Seller hereunder in excess of the aggregate of the Deposit (together with any interest thereon) plus $1,500,000 in the event this Agreement terminates as a result of a Buyer Default Termination, and any claim, right, cause of action or liability by Seller against Buyer in excess of the Deposit (together with any interest thereon) plus $1,500,000 is hereby fully released and forever discharged. In no event shall Buyer have any liability to Seller for special, consequential or punitive damages, and any claim, right, cause of action or liability for any damages that are special, consequential or punitive (or are other than up to $1,500,000 for actual damages) or for specific performance of this Agreement is hereby fully released and forever discharged.
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Termination As A Consequence Of A Buyer Default Termination. In the event this Agreement terminates as a result of a Buyer Default Termination, Covanta's and the Sellers' sole and exclusive remedy, notwithstanding any other provision of this Agreement, shall be strictly limited to the retention of the Interests and of the Deposit as liquidated damages. In no event shall the Buyers or their Affiliates have any liability to Covanta and the Sellers in excess of the Deposit in the event this Agreement terminates as a result of a Buyer Default Termination, except in the event of the Buyers' gross negligence or fraud. In no event shall the Buyers have any liability to Covanta or the Sellers for any special, consequential or punitive damages, and any claim, right, cause of action or liability for any damages that are special, consequential or punitive or for specific performance of this Agreement is hereby fully released and forever discharged. Without limiting the generality of the foregoing, the Sellers shall not have a right to specific performance following a Buyer Default Termination.
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Related to Termination As A Consequence Of A Buyer Default Termination

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Termination by Buyer This Agreement and the transaction contemplated herein may be terminated and abandoned at any time on or prior to the Closing Date by Buyer, if:

  • Consequence of Termination Upon termination of this Agreement for any reason:

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but vested rights of the parties shall not be affected.

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

  • Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include:

  • Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Master Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Master Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Master Contract, until such obligations have been fulfilled.

  • Termination for Default The County may, by written notice to the Contractor terminate this contract for default in whole or in part (delivery orders, if applicable) if the Contractor fails to:

  • Right to Terminate Following Event of Default If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

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