Dear Forms Committee: What happens if one party believes the other party is in default under the terms of the OREF Sale Agreement?
The OREF Sale Agreement doesn’t lock the parties into using certain forms, responses, and deadlines when one party is believed to be in default. OREF forms are straightforward: look at the Earnest Money provisions (Sections 28.2 and 28.3 of OREF-001). If the parties don’t agree about how that applies, they can negotiate a solution, but if they aren’t successful, the Dispute Resolution provisions describe what happens next.
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