Common use of Failure of Performance Clause in Contracts

Failure of Performance. If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specific performance or elect to receive the return of ▇▇▇▇▇'s deposit(s) without thereby waiving any action for damages resulting from ▇▇▇▇▇▇'s breach.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Contract for Purchase

Failure of Performance. If Buyer fails to perform this Contract within the time specified, including payment of all depositsdeposit(s), the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by and or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; , whereupon, Buyer and Seller shall be relieved of all obligations under the this Contract; , or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of ▇▇▇▇▇Buyer's deposit(s) without thereby waiving any action for damages resulting from ▇▇▇▇▇▇Seller's breach.

Appears in 1 contract

Sources: Contract for Sale and Purchase (American Marine Recreation Inc)

Failure of Performance. If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by 242 Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for 243 the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this Contract; or Seller, 244 at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title marketable mar- 245 ­ketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specific performance or elect to receive the return of ▇▇▇▇▇Buyer's 246 deposit(s) without thereby waiving any action for damages resulting from ▇▇▇▇▇▇Seller's breach.

Appears in 1 contract

Sources: Contract for Sale and Purchase (SupportSave Solutions Inc)

Failure of Performance. If Buyer fails to perform this Contract within the time specified, including payment of any and all depositsdeposits required hereunder, the deposit(s) deposits paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by and or for the account of the Seller as agreed upon liquidated damages, consideration for the execution of this Contract Contract, and in full settlement of any claimsclaims by Seller against Buyer; whereuponin that event, Buyer and Seller shall be relieved of all further obligations under this Contract; or Seller, at Seller's option, Sellers option may proceed in equity to enforce Seller's Sellers rights under this Contract. If If, for any reason other than the failure of Seller to make Seller's Sellers title marketable after diligent effort, Seller fails, neglects or refuses refused to perform this Contract, Buyer may seek specific performance or elect to receive the return of ▇▇▇▇▇'s deposit(s) Buyers deposits without thereby waiving any action for damages resulting from ▇▇▇▇▇▇'s Sellers breach.

Appears in 1 contract

Sources: Contract for Sale and Purchase

Failure of Performance. If Buyer fails to perform this Contract within the time specified, including payment of all depositsdeposit(s), the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by and or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, whereupon Buyer and Seller shall be relieved of all obligations under this Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of ▇▇▇▇▇Buyer's deposit(s) without thereby waiving any action for damages resulting from ▇▇▇▇▇▇Seller's breach.

Appears in 1 contract

Sources: Contract for Sale and Purchase (International Airline Support Group Inc)

Failure of Performance. If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this Contract; or Seller, at Seller's ’s option, may proceed in equity to enforce Seller's ’s rights under this Contract. If for any reason other than failure of Seller to make Seller's ’s title marketable after diligent effort, Seller fails, neglects neglects, or refuses to perform this Contract, Buyer may seek specific performance or elect to receive the return of ▇▇▇▇▇'s Buyer’s deposit(s) without thereby waiving any action for damages resulting from ▇▇▇▇▇▇'s Seller’s breach.

Appears in 1 contract

Sources: Purchase and Sale Agreement