Purchaser's Failure to Perform. In the event of a default hereunder by the Purchaser or if the Closing fails to occur by reason of the Purchaser's failure or refusal to perform its obligations hereunder, then the Seller may terminate this Agreement by notice to the Purchaser. PURCHASER AND SELLER AGREE THAT IT WOULD BE IMPRACTICABLE OR EXTREMELY DIFFICULT TO FIX, AT THE TIME OF SIGNING THIS AGREEMENT, THE ACTUAL DAMAGES WHICH WOULD BE SUFFERED IF THE PURCHASER FAILS OR REFUSES TO PERFORM ITS OBLIGATIONS HEREUNDER. THEREFORE, IF PURCHASER FAILS OR REFUSES TO PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT AND If the Seller elects to terminate this Agreement, then this Agreement shall be terminated and the Seller may retain the Deposit as liquidated damages for all loss, damage and expenses suffered by the Seller, and neither party shall have any further rights, obligations or liabilities hereunder, except for the Surviving Obligations. _________________ ______________ Purchaser Initials Seller Initials Nothing contained herein shall limit or restrict the Seller's ability to pursue any rights or remedies it may have against the Purchaser with respect to the Surviving Obligations. Except as set forth in this Section 14.2 and the Surviving Obligations, the Seller hereby expressly waives, relinquishes and releases any other right or remedy available to them at law, in equity or otherwise by reason of the Purchaser's default hereunder or the Purchaser's failure or refusal to perform its obligations hereunder. Notwithstanding anything to the contrary herein, if the Purchaser's default or the Purchaser's failure or refusal to perform its obligations under this Agreement is a result of any action of, or failure to act by, the Seller or any of the Seller's Affiliates, the Seller shall not be relieved of its obligations under this Agreement and the Seller shall not be entitled to any right or remedy provided in this Section 14.2 or elsewhere in this Agreement.
Purchaser's Failure to Perform. In the event of a material default hereunder by the Purchaser or if the Closing fails to occur by reason of the Purchaser's failure or refusal to perform its obligations hereunder, then the Seller may terminate this Agreement by notice to the Purchaser. If the Seller elects to terminate this Agreement, then this Agreement shall be terminated and the Seller may retain the Deposit as liquidated damages for all loss, damage and expenses suffered by the Seller, it being agreed that the Seller's damages are impossible to ascertain, and neither party shall have any further rights, obligations or liabilities hereunder, except for the Surviving Obligations. Nothing contained herein shall limit or restrict the Seller's ability to pursue any rights or remedies it may have against the Purchaser with respect to the Surviving Obligations. Except as set forth in this Section 14.2 and the Surviving Obligations, the Seller hereby expressly waives, relinquishes and releases any other right or remedy available to them at law, in equity or otherwise by reason of the Purchaser's default hereunder or the Purchaser's failure or refusal to perform its obligations hereunder. Notwithstanding anything to the contrary herein, if the Purchaser's default or the Purchaser's failure or refusal to perform its obligations under this Agreement is a result of any wrongful action of, or wrongful failure to act by, the Seller or any of the Seller's Affiliates, the Seller shall not be relieved of its obligations under this Agreement and the Seller shall not be entitled to any right or remedy provided in this Section 14.2 or elsewhere in this Agreement.
Purchaser's Failure to Perform. By the Seller if as of the Closing Date any of the conditions specified in Article VIII hereof have not been satisfied (and remain so unsatisfied for more than ten (10) days after the Seller has notified the Purchaser in writing thereof) or waived by Seller or if the Purchaser is otherwise in default in any material respect under this Agreement (and remains in default for more than ten (10) business days after the Seller has notified the Purchaser in writing in reasonable detail of such default).
Purchaser's Failure to Perform. By the Sellers if as of the Closing Date any of the conditions specified in Article VIII hereof have not been satisfied (and remain so unsatisfied for more than ten (10) days after the Sellers have notified the Purchaser in writing thereof) or if the Purchaser is otherwise in default in any Material respect under this Agreement (and remains in default for more than ten (10) days after the Sellers have notified the Purchaser in writing of such default) or if at any time prior to the Closing Date it becomes apparent to the Sellers (on reasonable grounds) that the Purchaser will be unable to satisfy one or more of its representations and warranties in Article III hereof or one or more of the covenants or agreements in Articles V, VI or VIII hereof.
Purchaser's Failure to Perform. In the event of a material default hereunder (other than under Section 18) by the Purchaser or if the Closing fails to occur by reason of the Purchaser's failure or refusal to perform its obligations hereunder in any material respect, then the Sellers may terminate this Agreement by notice to the Purchaser. If the Sellers elect to terminate this Agreement, then this Agreement shall be terminated and the Sellers may, as their sole and exclusive remedy for such material default, or failure or refusal to perform, retain the Fund as liquidated damages for all loss, damage and expenses suffered by the Sellers, it being agreed that the Sellers' damages are impossible to ascertain, and neither party shall have any further rights, obligations or liabilities hereunder, except for the
Purchaser's Failure to Perform. The SELLER will have no claims or recourse whatsoever against the AGENT arising from the failure of a purchaser to perform any of its obligation that might arise out of a sale of the Property pursuant to this mandate
Purchaser's Failure to Perform. In the event Purchaser fails to perform its obligations pursuant to the terms of this Agreement and such failure is not cured within ten (10) days after written notice of default is received by Purchaser, Seller shall be entitled to terminate this Agreement and retain Purchaser’s deposit.
Purchaser's Failure to Perform. If Purchaser fails to perform timely any of Purchaser's obligations hereunder for any reason other than (1) a permitted termination pursuant to this Agreement by Purchaser or (2) Seller's failure to perform Seller's obligations under this Agreement, then, except as provided in subsection 11(a)(4) hereinbelow, Seller, as Seller's sole and exclusive remedy, shall have the right to terminate this Agreement by giving written notice thereof to Purchaser at or before settlement.
Purchaser's Failure to Perform. In the event Purchaser fails to perform any obligation for which Purchaser is responsible under the terms of this Agreement (including, without limitation, Purchaser’s failure to restore the Real Property as required by Section 1(a) or to discharge any liens as required by Section 1(d)), Seller may, but shall not be obligated, to perform such obligation and Purchaser shall reimburse and indemnify Seller for all costs and expenses relating thereto, plus interest at the Prime Rate reported in the Wall Street Journal plus four percent (4%). Nothing in this Section 8 or elsewhere in this Agreement shall imply any duty on the part of Seller to do or perform any obligation of Purchaser hereunder, and the performance thereof by Seller shall not constitute a waiver of Purchaser’s default in failing to perform same.
Purchaser's Failure to Perform. Should PURCHASER fail to close this transaction as provided herein, or to perform any of the PURCHASER’S other obligations hereunder, time being of the essence, SELLER may either (i) terminate this Agreement by notice to the PURCHASER, whereupon PURCHASER’S Deposits are non-refundable and shall be paid to SELLER as liquidated, agreed damages (and not as a penalty) due to PURCHASER’S default, and the parties shall have no further rights or obligations hereunder, or (ii) seek specific performance of PURCHASER’S obligations under this Agreement. PURCHASER and SELLER agree that it would be impractical or extremely difficult to determine SELLER’S actual damages if PURCHASER defaults.
