Remedies of Purchaser. If an Event of Default by SELLER, shall have occurred and shall not have been remedied within any applicable grace period as provided in Section 12.3.3, PURCHASER may, after giving thirty (30) days written notice thereof to SELLER, and upon the expiration of such notice period and SELLER’s failure to cure such Event of Default, at its option, (i) terminate this Agreement, in which case this Agreement shall be deemed terminated, the Deposit refunded to PURCHASER, and neither party shall have any further obligations hereunder (except such obligations which survive the expiration or termination of this Agreement as expressly provided hereunder), or (ii) subject to Section 12.6 below, enforce the obligations of SELLER hereunder by legal or equitable action, including by action for specific performance.
Appears in 3 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement