Curable Defect definition

Curable Defect means shortfalls in submission such as:
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Curable Defect means shortfalls in submission suchas:
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Curable Defect means shor√alls in submission such as:
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Examples of Curable Defect in a sentence

  • If, at the end of the Cure Period, Seller and Buyer are unable to agree (a) whether Seller has cured a Post-Closing Curable Defect or (b) to the Title Defect Amount or Environmental Defect Amount attributable to a Post-Closing Curable Defect, then the applicable amount of funds in dispute, and accrued interest thereof, shall remain with the Escrow Agent pursuant to the Escrow Agreement until such disagreement shall be resolved as provided in Section 8 of Exhibit A.

  • If Seller and Buyer mutually agree in good faith that a Post-Closing Curable Defect has been cured at any time during the Cure Period, then within ten (10) days after such determination, the Post-Closing Defect Escrow Amount withheld with respect thereto shall be released to Seller in accordance with the terms of the Escrow Agreement.

  • The amount deposited into the Defects Escrow with respect to a Post-Closing Curable Defect will remain therein until released as provided in Section 5.6(e).

Related to Curable Defect

  • 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.

  • Material Defect As defined in Section 2.02(c) hereof.

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

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

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

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

  • Cure Period means the period specified in this Agreement for curing any breach or default of any provision of this Agreement by the Party responsible for such breach or default and shall:

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

  • Title Objection shall have the meaning assigned thereto in Section 8.5.

  • 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.

  • 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:

  • Claim Objection Deadline means the first Business Day that is 180 days after the Effective Date, as may be extended by order of the Bankruptcy Court.

  • 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 Objections has the meaning ascribed to such term in Section 6.2(a).

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

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

  • Defects Notification Period means the period for notifying defects in the Works or a Section (as the case may be) under Sub-Clause 11.1 [Completion of Outstanding Work and Remedying Defects], which extends over 365 days except if otherwise stated in the SCC (with any extension under Sub-Clause 11.3 [Extension of Defects Notification Period]), calculated from the date on which the Works or Section is completed as certified under Sub-Clause 10.1[Taking Over of the Works and Sections].

  • Qualification Defect With respect to a Mortgage Loan, (a) a defective document in the Mortgage File, (b) the absence of a document in the Mortgage File, or (c) the breach of any representation, warranty or covenant with respect to the Mortgage Loan made by the Company, but, in each case, only if the affected Mortgage Loan would cease to qualify as a “qualified mortgage” for purposes of the REMIC Provisions.

  • Cure means a Claim (unless waived or modified by the applicable counterparty) based upon a Debtor’s defaults under an Executory Contract or an Unexpired Lease assumed by such Debtor under section 365 of the Bankruptcy Code, other than a default that is not required to be cured pursuant to section 365(b)(2) of the Bankruptcy Code.

  • Minor defect means a defect which is not a Major Defect.

  • Objection Notice has the meaning set forth in Section 2.3(a) of this Agreement.

  • Breaching Party has the meaning set forth in Section 12.2.

  • Objection Period has the meaning set forth in Section 2.4(d).

  • Non-Breaching Party has the meaning set forth in Section 9.3.

  • Construction defect means a deficiency in or a deficiency arising out of the design, specifications, surveying, planning, supervision, or observation of construction or construction of residential improvements that results from any of the following: