Contract Vendee definition
Examples of Contract Vendee in a sentence
Contract Vendee agrees that retention of the Deposit constitutes fixed and liquidated damages resulting from Assignee's default, and Contract Vendee waives any other claim, at law or in equity, either against Assignee or against any person, known or unknown, disclosed or undisclosed.
Contract Vendee represents and warrants to Assignee that it has not issued any notice of any defect, encumbrance or other title objection, and covenants that it (i) shall not issue any such notice without Assignee's prior consent, (ii) will issue any such notice which Assignee so requests, and (iii) will exercise the options set forth in Section 2.3 of the Sale Agreement as directed by Assignee.
The parties agree that if the Deposit is cash, such cash shall be invested in an assignable interest-bearing certificate of deposit, money market fund, treasury ▇▇▇▇ or other similar security approved by Contract Vendee and Assignee, and all interest accruing thereon shall be paid to Assignee, except as otherwise provided herein.
In the event that Seller has applied the Deposit posted by Contract Vendee to the Purchase Price under the Sales Agreement, Assignee shall reimburse Contract Vendee for the Deposit at Closing and shall pay to Seller the Purchase Price in an amount equal to $10,700,000.00.
In the event that Seller has applied the Deposit posted by Contract Vendee to the Purchase Price under the Sale Agreement, Assignee shall reimburse Contract Vendee for the Deposit at Closing and shall pay to Seller the balance of the Purchase Price in an amount equal to Nine Million, One Hundred and Fifty Thousand and 00/100 ($9,150,000.00) Dollars, excluding operating expenses for the period from June 14, 1997 until Closing, which shall be paid by Contract Vendee.
Contract Vendee shall use its best efforts to cause the Seller to perform all of its covenants and obligations under the Sale Agreement in accordance with its terms up to the date of the Closing.
Contract Vendee shall indemnify, defend and hold Assignee harmless from and against all claims, suits, liens, actions proceedings, liabilities, damages and expenses (including, without limitation, reasonable attorneys fees) arising out of or relating to the performance of the work (including, without limitation, any injury or damage to property) or the failure liensto complete the same in accordance with this paragraph.
If title to the Premises is not conveyed to Assignee pursuant to the Sales Agreement and this Assignment Agreement as a result of any act or omission of Contract Vendee, Contract Vendee shall be responsible for all title fees, survey expenses and search charges of the Title Company.
Notices may be given by counsel for the parties described above, and such Notices shall be deemed given by Assignee or Contract Vendee, as the case may be, for all purposes hereunder.
Notices may be given by counsel for the parties described above, and such notices shall be deemed given by Assignee or Contract Vendee, as the case may be, for all purposes hereunder.