Common use of Buyer’s Remedies Clause in Contracts

Buyer’s Remedies. Upon failure of Seller to comply herewith by the Closing Date, as it may be extended in accordance herewith, Buyer, at its sole option and in addition to any other remedies it may have at law or equity, may (i) enforce specific performance, or (ii) terminate this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately return the Performance Deposit to Buyer, without interest.

Appears in 3 contracts

Samples: Purchase and Sale Agreement I (Natural Gas Systems Inc/New), Purchase and Sale Agreement Ii (Natural Gas Systems Inc/New), Purchase and Sale Agreement (Natural Gas Systems Inc/New)

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Buyer’s Remedies. Upon failure of Seller to comply herewith by the Closing Date, as it may be extended in accordance herewith, Buyer, at its sole option and in addition to any other remedies it may have at law or equity, may (i) enforce specific performance, or (ii) terminate this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately cooperate with Buyer to facilitate return of the Performance Deposit (as increased by any interest earned as described in Section 3.2) to Buyer, without interest.

Appears in 3 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Vanguard Natural Resources, LLC), Purchase and Sale Agreement (Vanguard Natural Resources, LLC)

Buyer’s Remedies. Upon failure of Seller to comply herewith by the Closing Date, as it may be extended in accordance herewith, Buyer, at its sole option and in addition to any other remedies it may have at law or equity, may (i) enforce specific performance, or (ii) terminate this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately return the Performance Deposit to Buyer, without interest.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Denbury Resources Inc), Purchase and Sale Agreement (Parallel Petroleum Corp), Purchase and Sale Agreement (Parallel Petroleum Corp)

Buyer’s Remedies. Upon In the event of any failure of Seller to comply herewith by with any of its obligations hereunder which are required to be performed at or prior to the Closing DateClosing, as it may be extended in accordance herewith, BuyerBuyer may, at its sole Buyer's option and in addition to any other remedies it may have at law or equityas its exclusive remedy, may either (i) enforce specific performanceterminate this Agreement by giving written notice of termination to Seller and to Closing Agent whereupon Closing Agent shall return the Deposit to Buyer and both Buyer and Seller shall be relieved of further obligations or liabilities hereunder, or (ii) terminate Buyer may seek specific performance of this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately return the Performance Deposit to Buyer, without interest.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Boettcher Western Properties Ii LTD)

Buyer’s Remedies. Upon failure of Seller to comply herewith by the Closing Date, as it may be extended in accordance herewith, Buyer, at its sole option and in addition to any other remedies it may have at law or equity, may (i) enforce specific performance, or (ii) terminate this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately return the Performance Deposit to Buyer, without interest.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Arena Resources Inc)

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Buyer’s Remedies. Upon failure of Seller to comply herewith by the Closing Date, as it may be extended in accordance herewith, Buyer, at its sole option and in addition to any other remedies it Buyer may have at law or equity, may (i) enforce specific performance, or (ii) terminate this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately and request return of the Performance Deposit to Deposit, as Buyer's sole and exclusive remedy for such default, without interestall other remedies (except as expressly retained in Section 15.3) being expressly waived by Buyer.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Castle Energy Corp)

Buyer’s Remedies. Upon failure of Seller to comply herewith by the Closing Date, as it may be extended in accordance herewith, Buyer, at its sole option and in addition to any other remedies it may have at law or equity, may (i) enforce specific performance, or (ii) terminate this Agreement. In the event Buyer elects to terminate this Agreement as set forth above, Seller shall immediately return the Performance Escrow Deposit to Buyer, without interest.

Appears in 1 contract

Samples: Escrow Agreement (Evolution Petroleum Corp)

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