Buyer’s Breach. If Buyer defaults in the performance of any term or obligation herein and Closing does not timely occur as a result, Seller will give written notice to Buyer that the Xxxxxxx Money Deposit will be immediately forfeited to Seller and King (but not King’s Broker) as reasonable liquidated damages and not as a penalty against Buyer. Seller and King (but not King’s Broker) will equally split the Xxxxxxx Money Deposit between them and keep their respective shares. Buyer forever waives and releases any right to xxx Seller, Auctioneer, or Escrow Agent to recover the Xxxxxxx Money Deposit, or any part thereof, on the grounds that it is unreasonable in amount, or that its retention by Seller and Auctioneer is wrongful or a penalty not agreed upon by the parties as reasonable liquidated damages. If Buyer defaults in the performance of any term or other obligation herein and Closing does not timely occur as a result, Seller will have all rights allowed by law and in equity and pursuant to this Sale Contract, including the right to pursue a claim against Buyer for additional damages, specific performance of this Sale Contract, or cancellation of the sale, and including Buyer’s payment of Seller’s reasonable attorneys’ fees and costs. In no event will Auctioneer have any liability whatsoever on any basis and for any amount as a result of Buyer’s breach of this Sale Contract or other wrongful act or omission.
Buyer’s Breach. If Buyer breaches this Agreement, as its sole remedy Seller shall be entitled to retain the Xxxxxxx Money Deposit in accordance with subsection 5(b) as Seller’s agreed and total liquidated damages. Seller hereby waives any right to seek any equitable or legal remedies against Buyer.
Buyer’s Breach. If Closing does not occur because Buyer wrongfully fails to tender performance at Closing or otherwise breaches this Agreement prior to Closing, and Seller is ready to close, the Escrow Agent shall disburse the Deposit to Seller, together with interest thereon, as liquidated damages. Buyer's failure to close shall not be considered wrongful if Buyer has terminated this Agreement as of right under Section 11.1. The remedy set forth herein shall be Seller's sole and exclusive remedy for Buyer's wrongful failure to close hereunder and Seller expressly waives any and all other remedies, legal and equitable, that it otherwise may have had for Buyer's wrongful failure to close.
Buyer’s Breach. In the event Buyer does not close the transaction herein described for any reason or no reason as and when required herein (other than as a result of a material breach of this Agreement by Seller), then, in such event, Seller shall retain the Deposit as liquidated damages (“Liquidated Damages”). The parties hereto acknowledge Seller’s expenses and costs, in the event of a default by Buyer, would be impossible or very difficult to accurately estimate at the time of this Agreement and as a result, the Liquidated Damages are a reasonable estimate of the anticipated or actual harm that might arise from breach of this Agreement by Buyer. As such, the Liquidated Damages constitute compensation, and not a penalty. In light of the foregoing, Buyer and Seller acknowledge and agree that the Liquidated Damages are fair, reasonable and necessary to provide Seller with a remedy upon Buyer’s breach of this Agreement.
Buyer’s Breach. If Buyer defaults under this Agreement prior to Closing, Seller’s sole and exclusive remedy at law or in equity shall be to terminate this Agreement and to retain the Deposit in accordance with Sections 2.4 and 9.3. If Buyer defaults under this Agreement after Closing, Seller may, at Seller’s option, pursue all of Seller’s rights and remedies that Seller may have under this Agreement and at law; provided that Seller may not recover any consequential, exemplary, incidental, special or punitive damages resulting from Buyer’s breach of this Agreement.
Buyer’s Breach. If Buyer breaches this Agreement and provided Buyer has not cured such breach within fifteen (15) days of receipt of written notice from Seller of the nature of said breach, Seller, as its sole remedy, shall be entitled to retain the Xxxxxxx Money Deposit in accordance with subsection 5(b) as Seller’s agreed and total liquidated damages, and Buyer shall pay for all title and escrow charges incurred. Seller hereby waives any right to seek any equitable or legal remedies against Buyer.
Buyer’s Breach. IF BUYER DEFAULTS IN THE PERFORMANCE OF ANY OF ITS OBLIGATION HEREUNDER THEN BUYER AND SELLER AGREE THAT IT WOULD BE IMPRACTICAL AND EXTREMELY DIFFICULT TO ESTIMATE THE DAMAGES WHICH SELLER WILL SUFFER. THEREFORE BUYER AND SELLER DO HEREBY AGREE THAT A REASONABLE ESTIMATE OF THE TOTAL NET DETRIMENT THAT SELLER WILL SUFFER IF BUYER DEFAULTS AND FAILS TO COMPLETE THE PURCHASE OF THE PROPERTY IS AND SHALL BE AS SELLER’S SOLE AND EXCLUSIVE REMEDY (WHETHER AT LAW OR IN EQUITY) AN AMOUNT EQUAL TO THE DEPOSIT. SAID AMOUNT SHALL BE THE FULL, AGREED AND LIQUIDATED DAMAGES FOR THE BREACH OF THIS AGREEMENT BY BUYER, ALL OTHER CLAIMS TO DAMAGES OR OTHER REMEDIES BEING HEREIN EXPRESSLY WAIVED BY SELLER. UPON DEFAULT BY BUYER, THIS AGREEMENT SHALL BE TERMINATED AND NEITHER PARTY SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS HEREUNDER, EACH TO THE OTHER EXCEPT FOR THE RIGHT OF THE SELLER TO COLLECT SUCH LIQUIDATED DAMAGES FROM BUYER AND ESCROW HOLDER; IN THAT REGARD, SELLER SPECIFICALLY WAIVES ANY RIGHT TO BRING AN ACTION FOR SPECIFIC PERFORMANCE AGAINST BUYER. THE FOREGOING SHALL NOT LIMIT THE RIGHT OF THE SELLER TO SEEK RECOVERY UNDER ANY INDEMNITY EXPRESSLY PROVIDED BY BUYER HEREUNDER OR TO RECOVER ANY DOCUMENTS THAT BUYER IS REQUIRED TO RETURN TO SELLER HEREUNDER. SELLER’S INITIALS BUYER’S INITIALS
Buyer’s Breach. If Buyer fails to perform its obligations hereunder to purchase and assume the Loan Rights and Obligations from Seller on the Closing Date and all of Buyer’s Conditions Precedent have been satisfied or Buyer is otherwise in material default of its obligations, representations or warranties hereunder, Seller’s sole and exclusive remedy at law or in equity shall be to terminate this Agreement (in which event this Agreement shall be of no further force or effect except for any obligations which by their express terms survive the termination of this Agreement) and to retain the Deposit as liquidated damages.
Buyer’s Breach. If Buyer defaults under this Agreement, Seller's sole and exclusive remedy at law shall be to terminate this Agreement.
Buyer’s Breach. Buyers’ breach of Section 10.03(b)(vi) will relieve Sellers, to the extent of any Loss suffered or incurred by such breach, of its obligation to indemnify Buyers for any Environmental Claim if and to the extent that such breach is materially prejudicial to Seller’s ability to remediate such Environmental Claim or otherwise prevents Sellers from discharging their obligations hereunder.
