Xxxxx's Default. 14.1 If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract.
Xxxxx's Default. 13.1 If the Buyer fails to make any payment on the due date then, without prejudice to any other right or remedy available to the Seller, the Seller shall be entitled to:-
Xxxxx's Default. If Xxxxx fails to complete this transaction by reason of any default of Buyer, as determined by Seller in Seller's sole discretion, Seller, at Seller's option, may retain the Deposit and any other funds then paid by Xxxxx as liquidated damages and/or invoke any other remedy expressly set out in this Agreement and Seller is automatically released from the obligation to sell the Property to Buyer and neither Seller nor Seller's representatives, agents, attorneys, successors, or assigns shall be liable to Buyer for any damages of any kind as a result of Seller's failure to sell and convey the Property.
Xxxxx's Default. In the event of Xxxxx's default and to the extent allowed by law, Seller shall be entitled to retain the Deposits up to 10% of the Purchase Price as liquidated damages, and if the Deposits are less than 10% of the Purchase Price, Buyer shall immediately pay to Seller the difference between 10% of the Purchase Price and the amount of the Deposits. In addition, Seller shall be entitled to keep, as liquidated damages and not as a penalty, any and all Advanced Payments made by Buyer to Seller for installed options, extras or upgrades for which Seller has made contractual commitments or incurred liability by placing orders or otherwise. Xxxxx agrees that actual damages in the event of breach by Xxxxx would be costly and difficult to calculate, and that such liquidated damages are a fair and reasonable remedy and shall not be considered a penalty.
Xxxxx's Default. Should Buyer fail to take delivery of goods on tender of the same by Xxxx, in addition to any other remedies it may have at law, in equity, or by contract, Xxxx shall be entitled to (i) store and insure the goods at Buyer's cost, together with annual interest at the rate of Prime Rate plus 5% on the invoiced amount until paid, until such time as Buyer takes delivery of the goods, and/or (ii) cancel the contract for those goods and recover its damages from Buyer.
Xxxxx's Default. If Buyer wrongfully fails to tender performance at Closing or otherwise materially breaches this Agreement prior to Closing and all of the conditions to Closing under Section 10.2(a) have been satisfied or waived, Seller shall be entitled to terminate this Agreement pursuant to Section 11.1(b) and retain the Deposit and any interest accrued thereon as its sole and exclusive remedy for Buyer's breach of this Agreement and as full and final settlement of all liabilities associated with Buyer's breach of this Agreement or obligation to purchase the Assets. Xxxxx and Seller acknowledge and agree that (i) Seller's actual damages upon such a termination would be difficult to ascertain with any certainty, (ii) that the Deposit and any interest accrued thereon is a reasonable estimate of such actual damages, and (iii) such liquidated damages do not constitute a penalty. Buyer's failure to close shall not be considered wrongful if (1) Buyer's conditions under Section 10.2(a) are not satisfied through no fault of Buyer and are not waived, or (2) Buyer has the right to terminate or has terminated this Agreement as of right under Section 11.1.
Xxxxx's Default. In the event Buyer fails to close the purchase of the Unit in accordance with the provisions of this Agreement, Seller may exercise all of its legal rights and remedies, or may terminate this Agreement and retain the Deposit in full satisfaction of all claims against Buyer.
Xxxxx's Default. In the event Buyer defaults, and without fault on the part of Seller, then Seller shall declare this Agreement null and void and Buyer shall forfeit his Deposit and Seller shall proceed a suit for damages sustained as result of Xxxxx’s default. This obligation shall survive termination of this Agreement.
Xxxxx's Default. Should Buyer default on its obligations provided herein then Seller shall so notify Buyer in writing specifying the nature of the default. Buyer shall have five (5) Business Days from the date of such notice to cure the default. If Buyer fails to cure said breach within said five (5) Business Day period or otherwise resolve the matter to Seller’s reasonable satisfaction, Seller shall have the option to cancel this Agreement upon notice to Buyer and upon such cancellation, the Deposit shall be retained by Seller as liquidated damages. The retention of the Deposit shall be Seller's sole and exclusive remedy in the event of default by Xxxxx and shall be in lieu of any and all other legal and equitable remedies otherwise available to Seller and Seller hereby waives any other rights or remedies Seller may have against Buyer. In the event of a valid termination by Seller pursuant to this Section 14.1, this Agreement shall terminate and the parties hereto shall be released from any further obligations hereunder each to the other except for those matters which, by their terms, survive the termination of this Agreement. This Section 14.1 shall not limit the liability of Buyer under its obligations contained in Section 4 and 12.1 of this Agreement.
Xxxxx's Default. If Buyer does not purchase all of the Shares by the Final Closing Date under Paragraph 4, for any reason other than Seller's default or termination under Paragraph 2, Seller will retain the Deposit. Buyer expressly assumes the risk of obtaining the Regulatory Approvals and Seller is entitled to retain the Deposit as liquidated damages and as consideration for the rights given Buyer, even if Buyer does not obtain any necessary Regulatory Approvals. Xxxxx agrees that: (i) in entering into this Agreement, Seller may be foreclosing the possibility of selling the Shares to another party or parties, (ii) the Deposit is reasonable consideration to Seller for the rights accorded Buyer under this Agreement, and (iii) the Deposit represents reasonable liquidated damages in view of the difficulty of determining actual damages. Seller agrees that the right to retain the Deposit is its sole remedy for Xxxxx's failure to purchase the Shares for any reason, other than Seller's default.
