Asserted Defects definition

Asserted Defects shall have the meaning assigned to such term in Section 7.1.
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Asserted Defects mean Asserted Title Defects and Asserted Environmental Defects, collectively.
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Asserted Defects has the meaning given it in Section 5.1(a).
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Examples of Asserted Defects in a sentence

  • Notwithstanding any such election to postpone Closing, Seller shall still have no obligation to cure Asserted Defects.

  • Seller may (but shall have no obligation to) attempt to cure, prior to Closing, one or more Asserted Defects.

  • Notwithstanding any other election made under this Section (without limitation, it being expressly recognized that Seller may attempt to cure Asserted Defects while acting under this election), Seller may elect to have one or more Asserted Defects handled under Section 7 below.

  • Such Defects of which Buyer so provides notice are herein called "Asserted Defects." All Defects with respect to which Buyer fails to so give Seller notice will be deemed waived for all purposes.

  • In the event that Buyer notifies Seller of Asserted Defects, Seller shall have the right (but not the obligation) to attempt to cure, prior to Closing, such Asserted Defects to the reasonable satisfaction of Buyer (exclusive of a Defect in subsection (b)(iii) below.

  • Whether or not Seller has then begun to, or ever begins to, cure one or more Asserted Defects (and whether or not Seller has elected option (iii) below with respect to one or more Asserted Defects), Seller may postpone the Closing by designating a new Closing Date not later than September 30, 2007, so that it may attempt to cure one or more Asserted Defects.

  • Notwithstanding any other election made under this Section (without limitation, it being expressly recognized that Seller may attempt to cure Asserted Defects while acting under this election), Seller may elect to have one or more Asserted Defects handled under Section 8 below.

  • The aggregate Defect Amount for Asserted Defects (if any) resulting from the procedures set forth in Article VIII does not exceed fifteen percent (15%) of the Base Purchase Price.

  • Parent shall have the right, but not the obligation (at its sole cost) to cure any Asserted Defects on or before one-hundred twenty (120) days after the Closing Date (the “Cure Period”).

  • In the event that Buyer notifies Seller of Asserted Defects, Seller shall have the right (but not the obligation) to attempt to cure, such Asserted Defects to the reasonable satisfaction of Buyer.


More Definitions of Asserted Defects

Asserted Defects is defined in Section 10.1(a). ---------------
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Asserted Defects is defined in Section 2.8(b) of this Agreement.
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Asserted Defects shall have the meaning assigned to such term in Section 7.1. “Bank” is defined in Section 3.2.
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Related to Asserted Defects

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.

  • Title Defect as used herein shall mean any encumbrance, encroachment, irregularity, defect in or objection to Seller’s title to the Leases and Xxxxx (excluding Permitted Encumbrances) which would result in Seller not having Defensible Title.

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

  • Title Defect Notice shall have the meaning set forth in Section 11.2(a).

  • Latent Defects means such defects caused by faulty designs, material or work man ship which cannot be detected during inspection, testing etc, based on the technology available for carrying out such tests.

  • Defects means any part of the Works not completed in accordance with the Contract, or completed with deficiencies and flaws and includes deficiencies, flaws, etc. developed during the execution of Works and during the Defect Liability Period.

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Defects Liability Period (Warranty Period) means the period stated in the Schedule A Special Stipulations, following the taking over, during which the Contractor is responsible for making good defects and damage in accordance with Clause 15.

  • Asserted Liability has the meaning set forth in Section 9.4(a).

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows:

  • Defect Notice shall have the meaning specified in Section 3.2 of this Agreement.

  • Unresolved Claims has the meaning set forth in Section 7.6(c).

  • Indemnification Claim Notice has the meaning set forth in Section 11.3.

  • Environmental Defect Value means, with respect to any Environmental Defect, the value, as of the Closing Date, of the estimated costs and expenses to correct such Environmental Defect in the most cost-effective manner reasonably available, consistent with Environmental Laws, taking into account that non-permanent remedies (such as mechanisms to contain or stabilize hazardous materials, including monitoring site conditions, natural attenuation, risk-based corrective action, institutional controls or other appropriate restrictions on the use of property, caps, dikes, encapsulation, leachate collection systems, etc.) may be the most cost-effective manner reasonably available.

  • Title Defect Property has the meaning set forth in Section 6.2(a).

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.

  • Claim Notice has the meaning set forth in Section 8.4(a).

  • Indemnified Matter has the meaning specified in Section 11.4 (Indemnities).

  • Indemnification Claim has the meaning set forth in Section 8.4(a).

  • Third Party Claim Notice shall have the meaning set forth in Section 6.5(a).

  • Indemnified Matters has the meaning specified therefor in Section 12.15.

  • Nonconformity or “Nonconformities” means any failure or failures of the Software to conform to the requirements of this Contract, including any applicable Documentation.

  • Latent Defect means a defect, inherently lying within the material or arising out of design deficiency, which do not manifest themselves and/or was not reasonably discoverable during Defect Liability period.