Common use of Default by Buyer Clause in Contracts

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer ▇▇▇▇▇ fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer ▇▇▇▇▇ under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. IfAt any time after the Effective Date, prior to Closing, if Buyer fails to make any payment when it is due or fails to keep any of Buyer's ’s other promises or agreements contained in this Agreementcontract, then Seller will have the right, at Seller's ’s sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement contract by giving ▇▇▇▇▇ Buyer written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement contract as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreementcontract, ▇▇▇▇▇ Buyer agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s Seller’s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ Buyer agrees that the sums paid by ▇▇▇▇▇ Buyer under this Agreement contract are a reasonable estimate of a fair payment to Seller for Seller's ’s loss or damage resulting from ▇▇▇▇▇'s Buyer’s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "“specific performance" ” (in other words, a lawsuit to make Buyer keep all of Buyer's ’s promises and agreements, including, without limitation, closing the purchase of the Propertyunit). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreementcontract. ▇▇▇▇▇ Buyer also agrees to pay for all costs, including Seller's ’s reasonable lawyers' ’ fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's ’s default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following:: Specimen (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages.. SPECIMEN (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ Buyer written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving ▇▇▇▇▇ written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by ▇▇▇▇▇ and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, ▇▇▇▇▇ understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, ▇▇▇▇▇ agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, ▇▇▇▇▇▇'s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. ▇▇▇▇▇ agrees that the sums paid by ▇▇▇▇▇ under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from ▇▇▇▇▇'s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. ▇▇▇▇▇ also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.. specimen