Known Defects definition

Known Defects means any and all reports, and any and all facts and conclusions set forth therein, which were commissioned or requested and received by the Company or any of its affiliates in connection with the transactions contemplated by this Agreement or the other Transaction Documents and which relate to, or were prepared in connection with, environmental or structural matters with respect to any one or more properties currently or formerly owned, operated or leased by any Seller or any of its subsidiaries.
Sample 1Sample 2Sample 3
Known Defects means the defect(s) set out in Schedule 4, Part 1 (Known Defects and Known Defects Longstop Date).
Sample 1Sample 2Sample 3

Examples of Known Defects in a sentence

  • Known Defects Supplier’s offerings and responsibilities related to known defects in the Software are described in Exhibit C.

  • Known Defects Supplier shall promptly notify VDOT in writing of any defects or malfunctions in the Solution or Documentation of which it learns from any source.

  • From the Known Defects Longstop Date (or if earlier, from the date that such Known Defects have been rectified to the satisfaction of the Project Company) the relevant defect shall cease to be a Known Defect and the O&M Contractor shall provide the O&M Services in relation to any affected part of the Facility (including any replacement items) in accordance with the terms of this Agreement.

  • If the O&M Contractor is the same as or an Affiliate of the Supplier, the O&M Contractor shall have no claim for the Known Defects Fee.

  • Known Defects Upon Supplier's knowledge of any defects or malfunctions, Supplier shall notify DMAS immediately, in writing (email is sufficient), and work with DMAS to expediently create a mutually agreed upon schedule to correct the defects or malfunctions, or provide a work around until corrected, and provide DMAS with corrected copies of same.

  • The O&M Contractor, provided it is not the same company as or an Affiliate company of the Supplier, shall be entitled to the Known Defects Fee once the Known Defects have been rectified in accordance with Clause 4.10(a).

  • Known Defects Supplier shall promptly notify VDSS in writing of any defects or malfunctions in the Solution or Documentation of which it learns from any source.

  • Known Defects30 If identified as applicable in the Key Information Table and where so instructed by the Project Company acting reasonably, the O&M Contractor shall rectify the Known Defects in accordance with the standards of a Reasonable and Prudent Operator as soon as reasonably practicable and by no later than the Known Defects Longstop Date.

  • Known Defects Seller ❑agrees ❑does not agree to provide a Property Condition Disclosure Statement.

  • Obviously, Unk- nown Defects and Known Defects accumulate in the stocks of Unknown Vulnerabilities and Known Vulnerabilities respectively.

Related to Known Defects

  • 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.

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

  • 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.

  • 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.

  • 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:

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

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

  • 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.

  • 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.

  • Document Defect As defined in Section 2.03(a).

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

  • 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.

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

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

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

  • Environmental Conditions means any conditions of the environment, including, without limitation, the work place, the ocean, natural resources (including flora or fauna), soil, surface water, ground water, any actual or potential drinking water supply sources, substrata or the ambient air, relating to or arising out of, or caused by the use, handling, storage, treatment, recycling, generation, transportation, Release or threatened Release or other management or mismanagement of Regulated Substances resulting from the use of, or operations on, the Property.

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

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

  • 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:

  • Nonconforming use means a use of land that:

  • Seller’s Warranties means Seller’s representations and warranties set forth in Section 9.2 and the Closing Documents executed by Seller, as such representations and warranties may be deemed modified or waived by Buyer pursuant to the terms of this Agreement.

  • 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.

  • 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.

  • 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.

  • Nonconforming zoning condition means a physical improvement on a property that does not conform with current zoning standards.