Purchaser’s New Objections Clause Samples

Purchaser’s New Objections. To the extent the Real Property is encumbered after the Effective Date and prior to the Closing without the approval of Purchaser, and such encumbrance is not a Permitted Exception, (a “New Exception”), upon receipt of written notice of any such New Exception, Purchaser shall have five (5) Business Days to review such New Exception and provide written notice to Seller with any objections to such New Exception (the “Purchaser’s New Objections”); provided, however, Purchaser agrees that it shall not have the right to object to any of the matters described in Section 5.3.1 that constitute Permitted Exceptions. To the extent Purchaser receives written notice of any New Exception less than five (5) Business Days prior to Closing, Purchaser shall be entitled to a reasonable adjournment of the Closing in order to review such New Exception and evaluate Seller’s Response in accordance with and within the times frames set forth in Section 5.3.3(a) and Section 5.3.3(b). Unless Purchaser notifies Seller in writing that it objects to a New Exception within the foregoing time period, each such New Exception shall automatically constitute a Permitted Exception.