Buyer’s Objections Sample Clauses
The "Buyer’s Objections" clause defines the process by which a buyer can formally raise concerns or objections regarding certain aspects of a transaction, such as the condition of goods, title issues, or contract terms. Typically, this clause outlines the timeframe within which objections must be made, the method for submitting them, and the seller’s obligations to address or remedy the issues raised. Its core practical function is to ensure that any problems identified by the buyer are addressed promptly and transparently, thereby protecting the buyer’s interests and facilitating a smoother transaction process.
Buyer’s Objections. Buyer will make any objections it may have regarding the Title Commitment and any Schedules thereto within ten (10) days of receiving the Title Commitment. Buyer’s failure to make Objections within such period will constitute a waiver of Objections with respect to matters disclosed in the Title Commitment and the Schedules thereto. Any specific matter shown in the Title Commitment and the Schedules thereto and not objected to by Buyer shall be included as a “Permitted Exception” hereunder. In the event Buyer’s objection to any exceptions or defects set forth in the Title Commitment and the Schedules thereto, Seller shall have five (5) days from delivery of Buyer’s notice to notify Buyer, in writing, that: (i) Seller will cause the disapproved exceptions to be removed from the policy of title insurance to be issued in favor of Buyer on or before Closing; or (ii) that Seller will not eliminate the disapproved exceptions. If Seller: (i) notifies Buyer, in writing, that Seller will not eliminate the objected to exceptions on or before Closing; or (ii) Seller does not notify Buyer, in writing, that Seller will cause the objected to exceptions to be eliminated on or before Closing, then this Agreement shall terminate, and neither Buyer nor Seller shall have any further rights, duties, or obligations hereunder except that the ▇▇▇▇▇▇▇ Money previously paid by Buyer together with any interest accrued thereon, shall be immediately refunded by the Closing Agent to Buyer, unless within three (3) days of the earlier of (i) the expiration of said five (5) day period, or (ii) the date that Seller notifies Buyer that Seller will not eliminate the objected to exceptions, Buyer waives its objections and elects to proceed with Closing subject to the objected to exceptions. The title exceptions approved as provided herein shall be included as Permitted Exceptions. Objections to be discharged by Seller may be paid out of the purchase money received at date of Closing.
Buyer’s Objections. Within twenty (20) days after receiving the last of the Title Evidence, Buyer will make written objections (“Objections”) to the form and/or contents of the Title Evidence. Buyer’s failure to make Objections within such time period will constitute waiver of Objections. Any matter shown on such Title Evidence and not objected to by Buyer shall be a “Permitted Encumbrance” hereunder. Seller will have thirty (30) days after receipt of the Objections to cure the Objections, during which period the Closing will be postponed, if necessary. Seller shall use its best efforts to cure any Objections. To the extent an Objection can be satisfied by the payment of money, Buyer shall have the right to apply a portion of the cash payable to Seller at the Closing to satisfaction of such Objection, and the amount so applied shall reduce the amount of cash payable to Seller at the Closing. If the Objections are not cured within such 30-day period, Buyer will have the option to do any of the following:
6.2.1 Extend the time period for Seller to cure the Objections by up to sixty (60) days, at the end of which time Buyer may exercise any of the remaining options set forth below.
6.2.2 Terminate this Agreement and receive a refund of the ▇▇▇▇▇▇▇ Money and the interest accrued thereon, if any.
6.2.3 Withhold from the Purchase Price an amount which, in the reasonable judgment of Title, is sufficient to assure cure of the Objections. Any amount so withheld will be placed in escrow with Title, pending such cure. If Seller does not cure such Objections within sixty (60) days after such escrow is established, Buyer may then cure such Objections and charge the costs of cure against the escrowed amount. The parties agree to execute and deliver such documents as may be reasonably required by Title, and ▇▇▇▇▇▇ agrees to pay the charges of Title, to create and administer the escrow.
6.2.4 Waive the Objections and proceed to close.
Buyer’s Objections. Within thirty (30) days after receiving a Title Commitment, Buyer shall make written objections (“Objections”) to the form and/or contents of the Title Commitment. Buyer’s failure to make Objections within such time period will constitute a waiver of Objections. Any matter shown on the Title Commitment and not objected to by Buyer shall be a “Permitted Encumbrance” pursuant to this Agreement. Seller will have 60 days after receipt of the Objections to cure the Objections, during which period the Closing will be postponed as necessary. Seller shall use its best efforts to correct any Objections. To the extent an Objection can be satisfied by the payment of money, Buyer shall have the right to apply a portion of the cash payable to Seller at the Closing to satisfaction of such Objection and the amount so applied shall reduce the amount of cash payable to Seller at the Closing. If the Objections are not cured within such 60 day period, Buyer will have the option to do any of the following:
Buyer’s Objections. Within ten (10) days after receiving the Title Commitment, Buyer will notify Seller of any objections to the form and/or contents of the Title Commitment (“Objections”). Buyer’s failure to make Objections within such time period will constitute waiver of any Objections. Any matter shown on such Title Commitment and not objected to by Buyer shall be a “Permitted Encumbrance” hereunder. Seller will have fifteen (15) days after receipt of the Objections to cure the Objections, during which period the Closing will be postponed, if necessary, provided Seller shall have no obligation to cure such Objections. If the Objections are not cured within such 15-day period, Buyer will have the option to do any of the following:
i. Terminate this Agreement.
ii. Waive the Objections and proceed to Closing. If Buyer fails to waive the Objections within ten (10) days after the expiration of such 15-day period, it shall be deemed to have elected to terminate this Agreement. Notwithstanding the foregoing, it is understood and agreed by the parties that all mortgages, tax liens, judgments, mechanics’ liens and any other monetary lien against the Property shall be satisfied at or prior to Closing by Seller.
Buyer’s Objections. If Buyer has an objection to items disclosed in the Commitment or Survey, Buyer shall have thirty (30) days after receipt of the last of the Commitment and Survey (“Title Objection Deadline”), to give Seller written notice of its objections (“Title Objections”). Buyer will be deemed to have approved all matters reflected by the Commitment and Survey to which ▇▇▇▇▇ has made no Title Objection by the Title Objection Deadline, and any exception to the Commitment or Survey not timely objected to by Buyer shall become a Permitted Exception, as set forth below.
Buyer’s Objections. Within ten (10) days after receiving the last of the Title Evidence, Buyer may make written objections (“Objections”) to the form and/or contents of the Title Evidence. Buyer’s failure to make Objections within such time period will constitute a waiver of Objections. Any matter shown on the Title Evidence and not objected to by Buyer will be a “Permitted Encumbrance” pursuant to this Agreement. Seller may, but is not required, to cure the Objections, during which period the Closing will be postponed as necessary. Seller will use its best efforts to correct any Objections. If the Objections are not cured prior to Closing, Buyer will have the option to do any of the following:
Buyer’s Objections. Within ten (10) days after ▇▇▇▇▇’s receipt of the last of the Title Evidence, Buyer may make written objections (“Objections”) to the form or content of the Title Evidence. The Objections may include, without limitation, any easements, restrictions or other matters which may interfere with the Proposed Use of the Property or matters which may be revealed by the Survey. Any matters reflected on the Title Evidence which are not objected to by Buyer within such time period or waived by Buyer in accordance with Section 8.2(B) shall be deemed to be permitted encumbrances (“Permitted Encumbrances”). Notwithstanding the foregoing, the following items shall be deemed Permitted Encumbrances: (a) Covenants, conditions, restrictions (without effective forfeiture provisions) and declarations of record which do not interfere with the Proposed Use, if any; (b) Reservation of minerals or mineral rights by the State of Minnesota, if any;
Buyer’s Objections. Within ten (10) business days after receiving the later of the Title Commitment and the Survey, Buyer shall make written objections (“Objections”) to the form and/or contents of the Title Commitment and the Survey if Buyer has obtained one within the time set forth in 10.2. Buyer’s failure to make Objections within such time period will constitute a waiver of Objections. Any matter shown on the Title Commitment and/or Survey and not objected to by Buyer shall be a “Permitted Encumbrance” pursuant to this Agreement. Seller will have sixty (60) days after receipt of the Objections to cure the Objections, during which period the Closing will be postponed as necessary. Seller shall use its best efforts to correct any Objections. To the extent an Objection can be satisfied by the payment of money, Buyer shall have the right to apply a portion of the cash payable to Seller at the Closing to satisfaction of such Objection and the amount so applied shall reduce the amount of cash payable to Seller at the Closing. If the Objections are not cured within such sixty (60) day period, Buyer will have the option to do any of the following:
Buyer’s Objections. 4.3.1 On or before the date which is the Thirty-Fifth (35th) day after the Effective Date, Buyer may deliver to Seller Buyer’s written notice identifying any matters, conditions and exceptions reflected in the Commitment and the Survey, if any, which are not acceptable to Buyer (the “Objected Exceptions”).
4.3.2 If any update of the Commitment shows any new or additional exception not previously reflected in the Commitment or any update thereof, Buyer may, on or before the date for Buyer’s objection notice set forth in Section 4.3.1, or, if later, the day that is the third (3rd) day after Buyer’s receipt of any update of the Commitment first disclosing such new or additional exception (but not in any event later than the Closing), deliver to Seller Buyer’s notice objecting to such new or additional exception.
4.3.3 All matters, conditions and exceptions reflected in the Commitment and the Survey, if any, which are not Objected Exceptions will be deemed permitted exceptions (the “Permitted Exceptions”) including all exceptions for which Buyer does not deliver a timely notice designating such matters, conditions and exceptions as Objected Exceptions.
Buyer’s Objections. Buyer shall have fifteen (15) days after the later of receipt of the Commitment or the Survey within which to examine same (the “Title/Survey Review Period”). Buyer shall, no later than the expiration of the Title/Survey Review Period, notify Seller in writing of any defect(s) (the “Objections”), provided that if Buyer fails to give Seller written notice of the Objections before the expiration of the Title/Survey Review Period, the matters shown in the Commitment and on the Survey shall be deemed to be waived as objections and be deemed “Permitted Exceptions”. Seller will have thirty (30) days after receipt of the Objections to cure the Objections, during which period the Closing shall be postponed if necessary. Seller agrees to remove by payment, bonding, or otherwise, any lien or encumbrance in a liquidated amount against the Property which was created by Seller and which is removable by the payment of money or the posting of a bond. Seller shall remove any other defect provided that Seller shall not be required to cure any other defect(s) to the extent that the cost of curing such defect(s) exceeds, in the aggregate, Five Thousand and 00/100 Dollars ($5,000.00). If the Objections are not cured within said thirty (30) day period, Buyer shall have the option to:
(1) Terminate this Agreement by notice in writing to Seller and receive a refund of the ▇▇▇▇▇▇▇ Money and all interest earned thereon; or
(2) Waive the Objections and proceed to the Closing.