Seller Default definition

Seller Default has the meaning set forth in Section 12.1.
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Seller Default refers to the failure of this transaction to close due to nonperformance, breach and/or default with respect to the Seller’s obligation(s) under this Agreement; provided, however, if Seller is unable to convey the Property in accordance with the Conveyance Requirements, such inability shall constitute a failure of a condition under Section 5 above, and not a Seller Default. In the event of a Seller Default: (a) Buyer shall have the right to demand and receive a full refund of the ▇▇▇▇▇▇▇ Money; (b) upon such demand and Buyer’s receipt of the ▇▇▇▇▇▇▇ Money, this Agreement shall be completely terminated in all respects at such time; and (c) at Buyer’s option, at any time prior to such termination, Buyer may elect instead to seek specific performance of Seller’s obligations.
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Seller Default shall have the meaning set forth in SECTION 11.1.
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Examples of Seller Default in a sentence

  • In the event this Agreement is terminated, (i) all documents and funds delivered by Seller to Buyer or Escrow Holder shall be returned immediately to Seller, provided there is no Seller Default, and likewise (ii) all documents and funds delivered by Buyer to Seller or Escrow Holder shall be returned immediately to Buyer.

  • As of the Closing, there shall be no Seller Default under this Agreement.

  • In the event of a Seller Default, Buyer, as its sole and exclusive remedies: (i) may terminate this Agreement by delivery of written notice of termination to buyer and escrow holder, and this Agreement and the rights and obligations, other than those rights and obligations that expressly survive the termination of this Agreement, of the Buyer and Seller hereunder shall terminate or (ii) specifically enforce Seller’s performance.

  • In the event each of the Seller’s Conditions Precedent set forth in Section 7(b) is not fulfilled by the Outside Closing Date, or such earlier time period as provided for herein or waived by Seller pursuant to Section 7(c), and provided there is no Seller Default under this Agreement, Seller may at its option terminate this Agreement and the Escrow opened hereunder.


More Definitions of Seller Default

Seller Default is defined in Section 12.1.
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Seller Default is defined in Section 9.1.
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Seller Default has the meaning set forth in Section 10.1(a).
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Seller Default means any of the following events or circumstances (in each case, other than where solely due to Force Majeure, a Compensation Event, a System Event, Government Default or Unforeseeable Conduct):
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Seller Default. Shall have the meaning given to it in Section 15.2.
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Seller Default has the meaning set forth in Section 25.1(a).
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Seller Default has the meaning specified in Section 7.1.
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