New Matter definition
Examples of New Matter in a sentence
Notwithstanding the foregoing, any New Matter that is the result of the activities of Buyer shall be deemed approved by Buyer and Buyer shall have no right to object to such New Matter.
Except as set forth in this Section 3.1, if Seller refuses for any reason or no reason to cure, remove or remedy any such New Matter, Buyer shall have the option of terminating this Agreement by written notice to Seller or accepting title in its then state and condition.
From time to time prior to the Closing, Seller shall promptly but in no event more than once every thirty days, supplement or amend the Disclosure Schedule with respect to any matter, condition or occurrence hereafter arising which, if existing or occurring at the date of this Agree ment, would have been required to be set forth or described in the Disclosure Sched ule ("New Matter").
No supplement or amendment shall be deemed to cure any breach of any representation or warranty made in this Agreement for the purpose of determining satisfaction of the conditions set forth in Article VII hereof provided, however, that if Purchaser elects to close the Transactions contemplated hereby after receiving notice of a New Matter, Purchaser shall not be entitled to indemnification as contemplated under Article IX with respect to such New Matter.
Seller shall not be obliged to cure, remove or remedy any New Matter, except for removal of liens or encumbrances caused by Seller in amounts aggregating not more than $150,000 (exclusive of first and second mortgages).