Approved Exceptions definition

Approved Exceptions means those exceptions to title that are approved in accordance with this Agreement. 1.3

Approved Exceptions means, with respect to an Asset, any irregularity in the documentation, underwriting or origination for such Asset, such irregularity (i) does not make the related Contracts unenforceable and is not reasonably expected to impair the practical realization of benefits intended to be created by such Contracts (determined without giving effect to any indemnification from the related Originator), (ii) has been taken into account by the Obligors in determining the Carrying Value of such Asset in accordance with its usual and customary business practices, and (iii) has been disclosed to the Credit Agent, it being understood and agreed that disclosure may be in the form of discussion between the Obligors and the Credit Agent in the context of the Credit Agent’s determination of whether to include such Asset (individually or with a group of Assets) in a Collateral Addition Designation Notice and, if applicable, establishment of a related Specified Percentage (as defined in Schedule 2.04), provided that the Obligors’ description of such irregularity is sufficiently clear and detailed to enable the Lender to reasonably evaluate the risks with respect to such Asset.

Approved Exceptions means those matters reflected on the Title Commitment referenced in Section 3.2(b) hereof which have been approved by Developer in accordance with the procedure outlined in said Section 3.2(b).

Examples of Approved Exceptions in a sentence

• At the Closing, Seller shall deliver title to the Property to Buyer subject only to the Approved Exceptions.

• At or prior to Closing, Seller shall deposit into Escrow a Grant Deed in the form attached hereto as Exhibit B, properly executed and acknowledged by Seller, in favor of Buyer, containing the legal description of the Property and subject only to the Approved Exceptions.

• At the Close of Escrow, Buyer shall obtain from Escrow Holder a standard coverage American Land Title Association (“ALTA”) owner’s form policy of title insurance in the amount of the Purchase Price insuring title to the Property in the name of Buyer subject only to the Approved Exceptions and the standard printed exclusions from coverage of an ALTA standard title policy (“Title Policy”).

• Possession of the Property shall be delivered to Purchaser at the Close of Escrow, subject to the Approved Exceptions .

• No leases, licenses, or other agreements allowing any third party rights to use the Property are or will be in force, except as otherwise provided in the Approved Exceptions.

More Definitions of Approved Exceptions

Approved Exceptions means any irregularity in the documentation or underwriting for an Asset if such defect is not reasonably expected to impair the practical realization of benefits intended to be created by such documentation or otherwise have a Material Adverse Effect (determined without giving effect to any indemnification from the related Originator).

Approved Exceptions means, with respect to any Financed Property, exceptions to the criteria set forth on Schedule I acceptable to the Administrative Agent, in its sole discretion, as set forth in the Borrowing Request delivered in connection with the Borrowing of Property Loans on the Closing Date.

Approved Exceptions means Permitted Exceptions and other title exceptions approved by the District in writing or deemed approved as provided in Section 12. partnership.

Approved Exceptions means those title exceptions applicable to the Property which are accepted by Buyer in accordance with the terms of this Section 4.1.1.

Approved Exceptions are defined in Section 501.

Approved Exceptions is defined in Section 7(c).

Approved Exceptions is defined in Section 2.5.1.