Objection and Cure Period Sample Clauses

Objection and Cure Period. (a) If the Purchaser's Title Report and/or Survey contain any matters not constituting Permitted Exceptions or Removable Liens (hereinafter defined), then Seller may, at its election, within ten (10) days after receipt from Purchaser of the Permitted Exceptions or a subsequent version of the Preliminary Title Report, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Report; (b) cause the Title Insurer to expressly waive such non-permitted matters as may be mutually agreed to by Seller and Purchaser; (c) agree in writing to cause such non-permitted matters to be deleted at or prior to the Closing. Seller shall cause all Removable Liens to be satisfied or discharged as of the date of Closing, subject to the provisions of this Section 10.4. (b) If Seller fails or elects not to cause all of the non-permitted matters to be removed or waived, within the aforementioned ten (10) day period, Purchaser may by written notice to Seller within five (5) days after the expiration of Seller's 10-day objection and cure period elect to: (x) terminate this Agreement, in which case all of the Xxxxxxx Money Deposit and any interest earned thereon shall be returned to Purchaser, provided such termination occurs on or prior to the expiration of the Review Period, (y) agree to take title as Seller can convey without a deduction from and offset against the Purchase Price or (z) upon mutual written agreement of the parties pay and discharge such matters (to the extent dischargeable by the payment of money) and all such amounts paid by Purchaser shall be a credit against the Purchase Price. (c) As used in this Section 10.4, the term "Removable Liens" shall mean liens which are of a definite and ascertainable amount which in the aggregate can be removed at Closing by payment of monies constituting a portion of the Purchase Price, and which (A) represent mortgage debt, (B) represent taxes or assessments which are then delinquent or which are then due and payable (in which event Seller need not pay or credit to Purchaser more than is required pursuant to the proration provisions of Sections 8.5 hereof), or (C) were created, granted or permitted by, or arise through, Seller.
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Objection and Cure Period. If the Title Insurer raises additional title exceptions in any version of the Title Commitment issued at or before the Closing and such additional title exceptions do not constitute Permitted Exceptions or Removable Liens (hereinafter defined), then Seller may, at its election, within ten (10) days after receipt of the subsequent version of the Title Commitment, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Commitment; (b) cause the Title Insurer to expressly waive or insure over such non-permitted matters; or (c) cause the Title Insurer to agree to delete or insure over such non-permitted matters at the Closing. Except for Removable Liens and additional exceptions to title resulting from a breach by Seller under Section 5.5 hereof, Seller shall have no obligation to elect the alternatives set forth in clauses (a), (b) or (c) of this Section 5.
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Objection and Cure Period. If the Title Commitment contains any matters not constituting Permitted Exceptions or Removable Liens (hereinafter defined), then Seller may, at its election, within ten (10) days after receipt from Purchaser of the Permitted Exceptions or a subsequent version of the Title Commitment, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Commitment; (b) cause the Title Insurer to expressly waive or insure over such non- permitted matters; or (c) cause the Title Insurer to agree to delete or insure over such non-permitted matter at the Closing. Except for Removable Liens, Seller shall have no obligation to elect the alternatives set forth in clauses (a), (b) or (c) of this Section 5.
Sample 1
Objection and Cure Period. If any Title Commitment or Preliminary Survey or any updates of any of them contain any matters not constituting Permitted Exceptions or liens which are of a definite and ascertainable amount which can be removed at Closing by payment of money (“Removable Liens”), then the Seller may, at its election, within thirty (30) days after Seller’s receipt from Purchaser of the Permitted Exceptions or a subsequent version of the Title Commitment or Survey, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Commitment; (b) subject to Purchaser’s approval of such arrangement (acting reasonably), cause the Title Insurer expressly to insure over such non-permitted matters; or (c) object in writing to Purchaser to the exclusion of any one or more of such matters as a Permitted Exception. If Seller fails or elects not to cause all of the non-permitted matters to be deleted or insured over within the aforementioned thirty (30) day period, Purchaser may by written notice to Seller within five (5) days after the expiration of Seller’s 30-day objection and cure period elect to: (x) terminate this Agreement, in which case all of the Xxxxxxx Money shall be returned to Purchaser, or (y) agree to take title subject to the matters at issue, in which case the Permitted Exceptions shall be expanded to include the additional matters not deleted or insured over, but with a deduction from and offset against the Purchase Price for all Removable Liens. If the updated Title Commitment or Survey containing the non-permitted matter is issued within thirty
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Related to Objection and Cure Period

  • Notice and Cure Period In the event of a breach, the aggrieved Party shall give written notice of breach to the other Party. If the notified Party does not cure the breach, at its sole expense, within 30 days after the delivery of written notice, the Party may exercise any of the remedies as described in §14 for that Party. Notwithstanding any provision of this Agreement to the contrary, the State, in its discretion, need not provide notice or a cure period and may immediately terminate this Agreement in whole or in part or institute any other remedy in the Agreement in order to protect the public interest of the State.

  • Cure Period Prior to any claim for default being made, either the Buyer or Seller will have an opportunity to cure any alleged default. If either Buyer or Seller fails to comply with any provision of this Agreement, the other party will deliver written notice to the non- complying party specifying such non-compliance. The non-complying party shall have calendar days after delivery of such notice to cure the non-compliance.

  • Notice and Cure In the event Seller or Purchaser fails to perform any of its obligations under this Agreement, the non-defaulting party shall provide the defaulting party with notice and five (5) days to cure such default, prior to pursuing any remedies available with respect to such default; provided, however, that (i) no such notice and cure shall be provided with respect to a party’s default in failing to timely close, or with respect to any party’s anticipatory breach of this Agreement, and (ii) in no event shall any such notice and cure period result in an extension of the Closing Date.

  • Notice and Cure Provisions 7.1.1 Each Party will give prompt notice to the other of the occurrence, or failure to occur, at any time from the date hereof until the earlier to occur of the termination of this Agreement and the Effective Time of any event or state of facts which occurrence or failure would, or would be likely to: 7.1.1.1 cause any of the representations or warranties of either Party contained herein to be untrue or inaccurate in any material respect on the date hereof or at the Effective Time; or 7.1.1.2 result in the failure to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by either Party hereunder prior to the Effective Time. 7.1.2 No Party may elect not to complete the transactions contemplated hereby pursuant to the conditions set forth herein or any termination right arising therefrom and no payments are payable as a result of such election pursuant to Section 7.4 unless forthwith and in any event prior to the Effective Time, the Party intending to rely thereon has delivered a written notice to the other Party specifying in reasonable detail all breaches of covenants, representations and warranties or other matters which the Party delivering such notice is asserting as the basis for the non-fulfillment or the applicable condition or termination right, as the case may be. If any such notice is delivered, provided that a Party is proceeding diligently to cure such matter and such matter is capable of being cured, no Party may terminate this Agreement until the expiration of a period of 15 business days from such notice, and unless such matter has not been cured by such date. If such notice has been delivered prior to the date of the Target Meeting, such meeting shall, unless the Parties agree otherwise, be postponed or adjourned until the expiry of such period. If such notice has been delivered prior to the filing of the Articles of Arrangement with the Enterprise Registrar, such filing shall be postponed until two business days after the expiry of such period. 7.1.3 Each Party hereto shall promptly notify the other Party of (i) any communication from any person alleging that the consent of such person (or another person) is or may be required in connection with the transactions contemplated by this Agreement (and the response thereto from such Party, its subsidiaries or its representatives), (ii) any material communication from any Governmental Entity in connection with the transactions contemplated by this Agreement (and the response thereto from such Party, its subsidiaries or its representatives), and (iii) any material Legal Actions threatened or commenced against or otherwise affecting such Party or any of its subsidiaries that are related to the transactions contemplated by the Agreement.

  • Termination for Cause with Notice to Cure Requirement Contractor may terminate this contract for the Department’s failure to perform any of its duties under this contract after giving the Department written notice of the failure. The written notice must demand performance of the stated failure within a specified period of time of not less than 30 days. If the demanded performance is not completed within the specified period, the termination is effective at the end of the specified period.

  • Notice of Objection Contractor may object to any action taken by NYSERDA pursuant to this Exhibit that prevents the commencement of the time in which interest will be paid by submitting a written notice of objection to NYSERDA. Such notice shall be signed and dated and concisely and clearly set forth the basis for the objection and be addressed to the Vice President, New York State Energy Research and Development Authority, at the notice address set forth in Exhibit B to this Agreement. The Vice President of NYSERDA, or his or her designee, shall review the objection for purposes of affirming or modifying NYSERDA‘s action. Within fifteen (15) working days of the receipt of the objection, the Vice President, or his or her designee, shall notify the Contractor either that NYSERDA‘s action is affirmed or that it is modified or that, due to the complexity of the issue, additional time is needed to conduct the review; provided, however, in no event shall the extended review period exceed thirty (30) working days.

  • Review Period The Asset Representations Reviewer will complete the Review of all of the Review Receivables within sixty (60) days after having received access to the Review Materials pursuant to Section 3.2(a). However, if additional Review Materials are provided to the Asset Representations Reviewer in respect of any Review Receivables pursuant to Section 3.2(b), the Review period will be extended for an additional thirty (30) days in respect of any such Review Receivables.

  • Dispute Notice If there is a dispute between the parties, then either party may give a notice to the other succinctly setting out the details of the dispute and stating that it is a dispute notice given under this clause 17.1.

  • Objections Buyer may object in writing to defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; disclosed in the Commitment other than items 6A(1) through (9) above; or which prohibit the following use or activity: . Buyer must object the earlier of (i) the Closing Date or (ii) days after Xxxxx receives the Commitment, Exception Documents, and the survey. Buyer’s failure to object within the time allowed will constitute a waiver of Buyer’s right to object; except that the requirements in Schedule C of the Commitment are not waived by Buyer. Provided Seller is not obligated to incur any expense, Seller shall cure any timely objections of Buyer or any third party lender within 15 days after Seller receives the objections (Cure Period) and the Closing Date will be extended as necessary. If objections are not cured within the Cure Period, Buyer may, by delivering notice to Seller within 5 days after the end of the Cure Period: (i) terminate this contract and the xxxxxxx money will be refunded to Buyer; or (ii) waive the objections. If Buyer does not terminate within the time required, Buyer shall be deemed to have waived the objections. If the Commitment or Survey is revised or any new Exception Document(s) is delivered, Buyer may object to any new matter revealed in the revised Commitment or Survey or new Exception Document(s) within the same time stated in this paragraph to make objections beginning when the revised Commitment, Survey, or Exception Document(s) is delivered to Buyer.

  • Cure Periods 11 (c) Remedies...................................................12 (d) Specific Performance.......................................

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