New Exception definition

New Exception shall have the meaning set forth in Section 4.6.

New Exception has the meaning ascribed to such term in Section 6(a) hereof.

New Exception has the meaning set forth in Section 5.1(a).

Examples of New Exception in a sentence

• Not later than five (5) days after receipt of an Updated Title Objection Notice, Seller may give written notice (an “Updated Title Response”) to Purchaser informing Purchaser of Seller's election with respect to the Material New Exception.

• If Purchaser does not object to any Material New Exceptions first raised in an Updated Title Commitment by giving timely written notice as herein provided, such Material New Exception (other than Monetary Liens) shall be deemed a Permitted Exception.

• In the event Purchaser gives timely written notice of objection to any Material New Exception as herein provided, Seller shall have the right, but not the obligation, to attempt to remove, satisfy or otherwise cure the Material New Exception.

• If any New Exception to the Preliminary Title Report arises after the Effective Date and prior to the Close of Escrow, then Buyer may elect, at any time prior to Close of Escrow, to either (i) waive any objection it may have to any New Exception and accept title to the Property subject to the New Exception, (ii) request that County remove the New Exception, or (iii) terminate this Agreement.

• If Purchaser is dissatisfied with Seller's response, or lack thereof, Purchaser may, as its exclusive remedy elect either: (i) to terminate this Contract, in which event the Deposit shall be promptly returned to Purchaser or (ii) to waive the New Exception and proceed with the transactions contemplated by this Contract, in which event Purchaser shall be deemed to have approved the New Exception.

More Definitions of New Exception

New Exception means any encroachment, overlap, boundary line dispute or other matter that materially or adversely affects title to the Property shown on any amended Preliminary Title Report issued by Title Insurer.

New Exception has the meaning set forth in Section 3.4.3.1.

New Exception has the meaning set forth in Section 6.18(c).

New Exception means any exceptions to title arising after the effective date of the Title Commitment which resulted from the intentional act or omission of Seller. Within three (3) business days after receipt of Purchaser's notice of such objections, Seller shall notify Purchaser in writing whether Seller elects to attempt to cure such objections. If Seller elects to attempt to cure, Seller shall have until the date of Closing to attempt to remove, satisfy or cure the same and for this purpose Seller shall be entitled to a reasonable adjournment of the Closing if additional time is required to a date mutually satisfactory to Seller and Purchaser, but in no event shall the adjournment exceed sixty (60) days after the date for Closing set forth in Section 4.1 hereof. If any such objection is the result of a New Exception, Seller shall remove, satisfy or cure the same or, with respect to those New Exceptions that can be satisfied by paying determinable sums of money such as mortgages, judgment liens and mechanics' liens, to cause the Title Company to provide affirmative insurance reasonably satisfactory to Purchaser over same, and for this purpose Seller shall be entitled to a reasonable adjournment of the Closing if additional time is required to a date mutually satisfactory to Seller and Purchaser, but in no event shall the adjournment exceed sixty (60) days after the date for Closing set forth in Section 4. 1 hereof, provided that Seller shall not be entitled to an adjournment of Closing as a result of a New Exception that can be satisfied by paying determinable sums of money. If Seller elects not to cure any objections, except a New Exception, specified in Purchaser's notice, or if Seller is unable to effect a cure of same prior to the Closing (or any date to which the Closing has been adjourned), Purchaser shall have the following options: (i) to accept a conveyance of the Property subject to the Permitted Exceptions, specifically including any matter objected to by Purchaser which Seller is unwilling or unable to cure, and without reduction of the Purchase Price; or (ii) terminate this Agreement by sending written notice thereof to Seller, and upon delivery of such notice of termination, this Agreement shall terminate and the Xxxxxxx Money shall be returned to Purchaser, and thereafter neither party hereto shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survive...

New Exception. Shall have the meaning given to it in Section 4.06.

New Exception has the meaning given to such term in Section 4.2 of this Agreement.

New Exception shall have the meaning set forth in Section 2.08(e) of this Agreement.