{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "this-agreement", "type": "clause", "offset": [95, 109]}, {"key": "sale-of-the-property", "type": "clause", "offset": [152, 172]}, {"key": "the-closing-date", "type": "clause", "offset": [176, 192]}, {"key": "the-purchaser-may", "type": "clause", "offset": [194, 211]}, {"key": "after-receiving", "type": "clause", "offset": [241, 256]}, {"key": "knowledge-of-the-seller", "type": "clause", "offset": [264, 287]}, {"key": "written-notice", "type": "clause", "offset": [315, 329]}, {"key": "one-of-the-following-options", "type": "clause", "offset": [339, 367]}], "size": 9, "samples": [{"hash": "4jOhLv8yLHe", "uri": "/contracts/4jOhLv8yLHe#sellers-default", "label": "Purchase and Sale Agreement", "score": 26.9000682831, "published": true}, {"hash": "3h91eHE2c3", "uri": "/contracts/3h91eHE2c3#sellers-default", "label": "Purchase and Sale Agreement", "score": 26.9000682831, "published": true}, {"hash": "hpIpGgA3qG2", "uri": "/contracts/hpIpGgA3qG2#sellers-default", "label": "Purchase and Sale Agreement", "score": 24.9000682831, "published": true}], "snippet": "means that the Seller breached its representations, warranties, covenants, or agreements under this Agreement, or failed or is unable to consummate the sale of the Property by the Closing Date. The Purchaser may, no later than ten (10) days after receiving actual knowledge of the Seller\u2019s Default, give the Seller written notice electing one of the following options:", "hash": "46b5c274a5f6d52994bcba6498bef2ef", "id": 1}, {"snippet_links": [], "size": 7, "samples": [{"hash": "3SWvKQIpUX3", "uri": "/contracts/3SWvKQIpUX3#sellers-default", "label": "Asset Purchase Agreement", "score": 29.3408622742, "published": true}, {"hash": "9I8AEKBYlvf", "uri": "/contracts/9I8AEKBYlvf#sellers-default", "label": "Asset Purchase Agreement (CNL Lifestyle Properties Inc)", "score": 27.6201229095, "published": true}, {"hash": "gS5QJXyWtiG", "uri": "/contracts/gS5QJXyWtiG#sellers-default", "label": "Asset Purchase Agreement (CNL Income Properties Inc)", "score": 21.0, "published": true}], "snippet": "has the meaning set forth in Section 10.1.", "hash": "a640614616de972a98decbcf85766209", "id": 2}, {"snippet_links": [], "size": 3, "samples": [{"hash": "beO7cIN3Vlz", "uri": 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"published": true}, {"hash": "66AcLfjtaf0", "uri": "/contracts/66AcLfjtaf0#sellers-default", "label": "Purchase and Sale Agreement (KBS Real Estate Investment Trust, Inc.)", "score": 24.1950721741, "published": true}], "snippet": "means Seller\u2019s failure to perform its obligation to convey the Property to Purchaser in accordance with the terms of this Agreement (as opposed to the failure of a condition listed in Section 12.1 over which Seller had no reasonable control), provided: (1) the reasons for such refusal do not include conditions beyond Seller\u2019s reasonable control or the non-conformance of title with the conditions described in Section 6.2; and (2) Purchaser has satisfied all conditions required to be satisfied by it under this Agreement, is not otherwise in default under this Agreement, and is ready, willing and able to perform all of its obligations under this Agreement and to deliver the Purchase Price due Seller under this Agreement (without tender thereof being 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In no event may Purchaser bring an action against Seller for damages or seek any remedy (whether or not in an action at law or in equity) against Seller on account of a Seller\u2019s default prior to the Closing that could require Seller to pay any monies to Purchaser (other than the Capped Expenses Amount) whether characterized as damages or otherwise (except for an action (i) to compel Escrowee to return the Deposit to Purchaser if Purchaser is, in fact, entitled to the return thereof in accordance with this Agreement or (ii) with respect to any failure of Seller to pay the Break-Up Fee (defined below) (if applicable) under Section 35.2.3). 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capable of being cured within such [***], subject to Seller having commenced good faith efforts to cure the same, the material breach has thereafter not been cured within [***] following receipt of \u2587\u2587\u2587\u2587\u2587\u2019s written notice).", "hash": "7aa1e8a7b1c980f564db8f10f3745acd", "id": 6}, {"snippet_links": [{"key": "defined-in-section", "type": "clause", "offset": [3, 21]}], "size": 2, "samples": [{"hash": "gZvSBDzUxgI", "uri": "/contracts/gZvSBDzUxgI#sellers-default", "label": "Purchase and Sale Agreement (Union Plaza Hotel & Casino Inc)", "score": 18.0, "published": true}, {"hash": "3eqHGWBzEj", "uri": "/contracts/3eqHGWBzEj#sellers-default", "label": "Purchase and Sale Agreement (Union Plaza Hotel & Casino Inc)", "score": 18.0, "published": true}], "snippet": "As defined in Section 15.2(g) hereof.", "hash": "f610f181326db9b82c457c68e6b9e453", "id": 7}, {"snippet_links": [{"key": "exercise-of", "type": "clause", "offset": [26, 37]}, {"key": "termination-rights", 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The Purchaser may, no later than ten (10) days after receiving actual knowledge of the Seller\u2019s Default, give the Seller written notice electing one of the following options:", "title": "Seller\u2019s Default", "id": "sellers-default", "examples": ["If Seller is or becomes the subject of a Change in Ownership, Buyer may at its discretion terminate this AGREEMENT or a Purchase Order for default, <strong>Seller\u2019s Default</strong>, at no cost to Buyer, and notwithstanding any termination, Seller shall take all measures reasonably necessary to protect Buyer\u2019s Property and any proprietary information.", "If Seller is or becomes the subject of a Change in Ownership, Buyer may at its discretion terminate this Agreement or a Purchase Order for default under Article 22, <strong>Seller\u2019s Default</strong>, at no cost to Buyer, and notwithstanding any termination, Seller shall take all measures reasonably necessary to protect Buyer\u2019s Property and any proprietary information.", "If Purchaser elects to seek such specific performance, Purchaser shall give Seller written notice of such election within thirty (30) days after the occurrence of such <strong>Seller\u2019s Default</strong>, and thereafter commence an action seeking such specific performance within ninety (90) days after the occurrence of such <strong>Seller\u2019s Default</strong>.", "Payment to Buyer of liquidated damages is not intended as a forfeiture or penalty within the meaning of applicable law and is intended to settle all issues and questions about the amount of damages suffered by Buyer in the event of <strong>Seller\u2019s Default</strong>.", "If Buyer fails to consummate this Agreement for any reason other than <strong>Seller\u2019s Default</strong> or a termination of this Agreement by Seller or Buyer pursuant to a right to do so expressly provided for in this Agreement (a \u201cBuyer\u2019s Default\u201d), Seller shall have all rights and remedies given at law or in equity, including, without limitation specific performance.", "Notwithstanding the foregoing, if the address of the Lender or Agent is outside Pakistan, any notice delivered to the Lender or Agent pursuant to this Section 14.4 (Notice to the Lenders of the <strong>Seller\u2019s Default</strong>) shall be sent by international courier or facsimile, and if sent by facsimile, confirmed by international courier.", "Any notice given by facsimile under this Section 14.4 (Notice to the Lenders of the <strong>Seller\u2019s Default</strong>) shall be confirmed in writing delivered personally or sent by prepaid post, but failure to so confirm shall not void or invalidate the original notice if it is in fact received by the Lender or the Agent.", "Upon such designated date, subject to the expiration of the applicable cure period provided in Section 14.4 (Notice to the Lenders of the <strong>Seller\u2019s Default</strong>), AEDB (acting for itself and the GOP) may exercise without restriction all of its rights under this Agreement.", "If Seller is or becomes the subject of a Change in Ownership, Buyer may at its discretion terminate this AGREEMENT or a Purchase Order for default, <strong>Seller\u2019s Default</strong>, at no cost to Buyer, and notwithstanding any termination, Seller shall take all measures reasonably necessary to protect \u2587\u2587\u2587\u2587\u2587\u2019s Property and any proprietary information.", "In the event of <strong>Seller\u2019s Default</strong> under (c) above, the parties acknowledge and agree that such default by Seller will cause Buyer irreparable harm and Buyer shall be entitled to any and all legal and equitable rights and remedies available to it against Seller to remedy such default, including, without limitation, injunctive relief prohibiting Seller from refusing to deliver the Goods."], "related": [["seller-default", "Seller Default", "Seller Default"], ["buyer-default", "Buyer Default", "Buyer Default"], ["purchaser-default", "Purchaser Default", "Purchaser Default"], ["customer-default", "Customer Default", "Customer Default"], ["lease-default", "Lease Default", "Lease Default"]], "related_snippets": [], "updated": "2026-04-10T04:42:41+00:00"}, "json": true, "cursor": ""}}