Common use of Breach by Buyer Clause in Contracts

Breach by Buyer. If Buyer breaches its obligations under this Agreement, Seller’s sole remedy shall be to terminate the Agreement and retain the Deposit as agreed liquidated damages for such breach, and upon payment in full to Seller of such Deposit, Seller will have no further rights, claims, liabilities or obligations under the Agreement (except those obligations that expressly survive termination). The parties agree that such liquidated damages are not a penalty or forfeiture and because it would be difficult to determine actual damages, the Deposit reflects a reasonable estimate of the damages incurred by Seller under this Agreement.