Mandatory Removal Exceptions definition

Mandatory Removal Exceptions shall have the meaning set forth in Section 2.3(g)(ii).
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Mandatory Removal Exceptions means exceptions for any of the following: (i) real estate contracts, security deeds, mortgages, deeds of trust, and other instruments evidencing or securing loans or other Indebtedness; (ii) any real estate excise, sales, conveyance, transfer or stamp Taxes payable at Closing under applicable law; (iii) local improvement district and other similar assessments, and any delinquent real estate Taxes or owners association assessments; (iv) mechanics, materialmen, or construction liens, judgment liens, and lis pendens; (v) other monetary liens and monetary exceptions; (vi) any option or right to purchase all or any part of the Wood Campus Real Property (New Hospital Site), other than this Agreement; (vii) ad valorem tax covenant; or (viii) the authority, organization or legal standing of Seller or the authority of any Person signing for Seller.
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Mandatory Removal Exceptions means (a) all mechanics’ liens, contractors’ liens or tax liens which are filed by contractors or suppliers engaged by, through or under Sellers that encumber a Property as of the Closing Date, (b) all liens against a Property which evidence monetary obligations of any Seller, including any mortgages and liens in connection with any financing encumbering the Property, and (c) any other liens evidencing monetary obligations voluntarily created by any Seller on or after the Effective Date, in each case excepting therefrom all liens arising from or related to or securing all unpaid personal property, real estate and excise taxes, and all water, sewer, utility, trash and other similar charges, in each case that are not yet due and payable as of the Closing Date.
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Examples of Mandatory Removal Exceptions in a sentence

  • Mandatory Removal Exceptions do not have to be paid or satisfied at the Deposit Date in order to satisfy the condition in Section 11.2(f) to payment of the Deposit or the corresponding delivery requirement in Section 12.1(a)(xii), but must be satisfied by Sellers prior to or at Closing, and if not so satisfied, shall be satisfied at Closing out of the proceeds otherwise payable to Sellers without adjustment to the Purchase Price.

  • The Mandatory Removal Exceptions will not be Permitted Exceptions, whether the City objects to them or not, and whether or the City gives any notice thereof pursuant to Section 6(c) or Section 6(d).

  • Notwithstanding the foregoing, Seller will cause the removal of all Mandatory Removal Exceptions at or before Closing, and Mandatory Removal Exceptions may not become Permitted Exceptions unless expressly accepted in writing by Buyer.


More Definitions of Mandatory Removal Exceptions

Mandatory Removal Exceptions means (i) any Liens voluntarily recorded by any Acquired Entity or arising from the voluntary action (or failure to take required action) of any Acquired Entity (in each case, as opposed to any tenant or other party), in each case but other than with the prior written approval of Buyer, (ii) all matters set forth on Exhibit C hereto, and (iii) any other Lien granted by any Acquired Entity which secures indebtedness for borrowed money (other than the Lien created by the Existing Loan Documents).
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Related to Mandatory Removal Exceptions

  • Tree removal means to kill or to cause irreparable damage that leads to the decline and/or death of a tree. This includes, but is not limited to, excessive pruning, application of substances that are toxic to the tree, over-mulching or improper mulching, and improper grading and/or soil compaction within the critical root radius around the base of the tree that leads to the decline and/or death of a tree. Removal does not include responsible pruning and maintenance of a tree, or the application of treatments intended to manage invasive species.

  • Legend Removal Date shall have the meaning ascribed to such term in Section 4.1(c).

  • Permitted Title Exceptions means those exceptions to title to the Real Property that are satisfactory to the Acquiror as determined pursuant to Section 2.2.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Emergency removal means the suspension or expulsion of a student on an emergency basis, consistent with state law. Nothing in the Title IX regulations precludes a district from removing a respondent from the district’s education program or activity on an emergency basis, provided that the district follows all procedures under Massachusetts law, undertakes an individualized safety and risk analysis, determines that an immediate threat to the physical health or safety of any student or other individual arising from the allegations of sexual harassment justifies removal, and provides the respondent with notice and an opportunity to challenge the decision immediately following the removal.

  • Permitted Exception means (a) liens for Taxes and other governmental charges and assessments which are not yet due and payable, (b) liens of landlords and liens of carriers, warehousemen, mechanics and materialmen and other like liens arising in the ordinary course of business for sums not yet due and payable, (c) other liens or imperfections on property which are not material in amount or do not materially detract from the value or the existing use of the property affected by such lien or imperfection, (d) such statements of fact and exceptions shown on any title insurance policies delivered to Global.

  • Mandatory Requirements means those requirements described herein, which shall be fully satisfied in order for any Proposal to be considered by the City as a qualified Proposal.

  • Bug and tar remover means a product labeled to remove either or both of the following from painted motor vehicle surfaces without causing damage to the finish:

  • Qualified Replacement Mortgage A Home Equity Loan substituted for another pursuant to Section 3.04, 3.05(b) or 3.06(b) hereof, which (i) has a Coupon Rate at least equal to the Coupon Rate of the Home Equity Loan being replaced, (ii) is secured by Property that is of the same or better property type as, or is a single family dwelling and the same or better occupancy status as, the Property securing the Home Equity Loan being replaced or is a primary residence, (iii) shall mature no later than the latest Final Scheduled Distribution Date with respect to the related Home Equity Loan Group, (iv) has a Loan-to-Value Ratio as of the Replacement Cut-Off Date no higher than the Loan-to-Value Ratio of the replaced Home Equity Loan at such time, (v) shall be of the same or higher credit quality classification (determined in accordance with the Seller’s credit underwriting guidelines set forth in the Seller’s underwriting manual) as the Home Equity Loan which such Qualified Replacement Mortgage replaces, (vi) shall be a First Mortgage Loan if the Home Equity Loan which such Qualified Replacement Mortgage replaces was a First Mortgage Loan and shall be a First Mortgage Loan or Second Mortgage Loan if the Home Equity Loan which such Qualified Replacement Mortgage replaces was a Second Mortgage Loan, (vii) has an outstanding principal balance as of the related Replacement Cut-Off Date equal to or less than the outstanding principal balance of the replaced Home Equity Loan as of such Replacement Cut-Off Date, (viii) shall not provide for a “balloon” payment if the related Home Equity Loan did not provide for a “balloon” payment (and if such related Home Equity Loan provided for a “balloon” payment, such Qualified Replacement Mortgage shall have an original maturity of not less than the original maturity of such related Home Equity Loan), (ix) shall be a fixed rate Home Equity Loan if the Home Equity Loan being replaced is in Group I or an adjustable rate Home Equity Loan if the Home Equity Loan being replaced is in Group II, (x) satisfies the criteria set forth from time to time in the definition thereof at Section 860G(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust, (xi) satisfies the representations and warranties set forth in Section 3.04(b) hereof, (xii) shall not be 30 days or more Delinquent and (xiii) if such Home Equity Loan being replaced is in Group II, shall adjust based on the same index as, have no lower margin than, have the same interval between adjustment dates as and have a maximum Coupon Rate no lower than, and a minimum Coupon Rate no lower than, the Home Equity Loan being replaced.

  • Adverse REMIC Event As defined in Section 9.01(f) hereof.

  • Qualified Replacement Special Servicer A Person as to which all the following conditions are satisfied at the relevant date of determination: (A)(i) all the representations and warranties set forth in Section 2.06 are true and accurate as applied to such Person (other than any change in the entity type or the state or jurisdiction of formation), (ii) there is no event or circumstances that constitutes, or would constitute, but for notice or the passage of time, a Servicer Termination Event with respect to such Person under this Agreement, (iii) such Person is not the Trust Advisor or an Affiliate of the Trust Advisor and there exists no agreement as a result of which, whether or not subject to any condition or contingency, such Person would become an Affiliate of the Trust Advisor or merge or be consolidated with or into the Trust Advisor (regardless of the identity of the surviving Person) or succeed to any portion of the business of the Trust Advisor that includes the Trust Advisor’s rights or duties under this Agreement, (iv) neither such Person nor any Affiliate of such Person is obligated, whether by agreement or otherwise, and whether or not subject to any condition or contingency, to pay any fee to, or otherwise compensate or grant monetary or other consideration to, the Trust Advisor or any Affiliate thereof in connection with this Agreement, (x) in connection with the special servicing obligations that such Person would assume under this Agreement or the performance thereof or (y) in connection with the appointment of such Person as, or any recommendation by the Trust Advisor for such Person to become, the successor Special Servicer, (v) such Person is not entitled to receive any compensation from the Trust Advisor in connection with its activities under this Agreement and (vi) such Person is not entitled to receive from the Trust Advisor or any Affiliate thereof any fee in connection with the appointment of such Person as successor Special Servicer, unless, in the case of each of the foregoing clauses (i) through (vi), the appointment of such Person as successor Special Servicer has been expressly approved by 100% of the Certificateholders; and (B) is not a Prohibited Party and has not been terminated in the capacity of Master Servicer or Special Servicer hereunder in whole or in part as a result of a Servicer Termination Event under Section 7.01(a)(xv), unless the appointment of such Person as successor Special Servicer has been expressly approved by Depositor acting in its reasonable discretion.

  • Nail polish remover means a product designed to remove nail polish and coatings from fingernails or toenails.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Initial Covered Debt means the Corporation’s 6.25% Notes due 2036, CUSIP No. 000000XX0.

  • Equitable Exceptions means, with respect to the enforceability of any obligation, that such obligation is subject to (a) applicable bankruptcy, insolvency, moratorium, receivership, assignment for the benefit of creditors or other similar state or federal laws affecting the rights and remedies of creditors generally (including, without limitation, fraudulent conveyance or transfer laws) and judicially developed doctrines in this area, such as equitable subordination and substantive consolidation of entities and (b) equitable principles (whether considered in a proceeding in equity or at law).

  • Paint remover or stripper means any product designed to strip or remove paints or other related coatings, by chemical action, from a substrate without markedly affecting the substrate. “Paint Remover or Stripper” does not include “Multi-purpose Solvent,” paint brush cleaners, products designed and labeled exclusively as “Graffiti Remover,” and hand cleaner products that claim to remove paints and other related coatings from skin.

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

  • Removal Date means, with respect to the Removed Accounts designated hereby, , .

  • Involuntary Resettlement Safeguards means the principles and requirements set forth in Chapter V, Appendix 2, and Appendix 4 (as applicable) of the SPS;

  • Standard Listing Conditions has the meaning ascribed thereto in subsection 4(a)(iv);

  • Voluntary Refunds means a refund of an unused or partially used ticket for reasons other than those mentioned under the definition of an involuntary refund.

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Removal Event has the meaning set forth in Section 12.12 hereof.

  • Nonrecoverable Property Advance shall have the meaning assigned thereto in the Outside Servicing Agreement.

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

  • Pre-Existing Conditions means, in respect of the Insured Person, any Sickness, Disease, Injury, physical, mental or medical condition or physiological degradation, including Congenital Condition, that has existed prior to the Policy Issuance Date or the Policy Effective Date, whichever is the earlier. An ordinary prudent person shall be reasonably aware of a Pre- existing Condition, where -