Montana Clauses Relating to Defaults, Default Remedies

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FAQ

Borrower certifies that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of the Loan requested hereby and no Default or Event of Default has occurred and is continuing.

The Agreement has several available remedies for the buyer and seller in the event of default. The options include (1) declaring the Agreement null and void, (2) termination of the Agreement, (3) specific performance, and (4) stipulated damages.

Nothing in this Agreement shall obligate either Party to enter into any further agreements or business relationship. Either Party may, in its sole discretion, choose to not proceed with any possible future business relationship or agreement.

A default is a failure to fulfill an obligation. Defaulting is most common in regards to debtor-creditor law and contract law. Typically, a default leads to judicial proceedings or triggers the application of a separate contract provision.

If the buyer fails to rectify the default during the notice and cure period, the seller can pursue legal remedies, as specified in the default provision. This may include seeking damages, specific performance of the contract, or retaining the deposit paid by the buyer.

NO DEFAULT . Unless a full withdrawal is made, this Contract remains in force and will not be in default if no additional Purchase Payments are made. ALLOCATION OF PURCHASE PAYMENTS: Purchase Payments are allocated to one or more of the Investment Options in ance with your selection.

A default clause is a provision in a legal contract that states what will happen if either party in a contract defaults or fails to hold up their end of the agreement.

A default clause is a provision in a legal contract that states what will happen if either party in a contract defaults or fails to hold up their end of the agreement. These clauses can be found in any type of contract including loan agreements, lease agreements, and property agreements.

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Montana Clauses Relating to Defaults, Default Remedies