New Survey Defect definition

New Survey Defect has the meaning set forth in Section 5.3.3.
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New Survey Defect has the meaning set forth in Section 4.2.2 of this Agreement.
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New Survey Defect shall have the meaning ascribed to it in Section 4.2.3 hereof. “New Title Exception” shall have the meaning ascribed to it in Section 4.2.3 hereof.
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Examples of New Survey Defect in a sentence

  • If Seller does not provide a New Title and Survey Election Notice to Purchaser within such time period, then Seller shall be deemed to have elected not to remove or cure such New Title Exception or New Survey Defect as an Unpermitted Exception pursuant to clause (2) of the preceding sentence.

  • If Seller does not provide a New Title and Survey Election Notice to Purchaser within such time period, then Seller shall be deemed to have elected not to remove or cure the New Title Exception or New Survey Defect as an Unpermitted Exception pursuant to clause (2) of the preceding sentence.

  • If CWI does not provide a New Title and Survey Response Notice to WPPI within such time period, CWI shall be deemed to have elected to proceed to Closing pursuant to this Agreement and accept title to the Real Property subject to such New Title Exception or New Survey Defect pursuant to clause (y) of the preceding sentence.

  • The Seller will not create or permit to exist any New Title Exception or New Survey Defect.

  • Notwithstanding the foregoing, if the pre-Closing default by WPPI arises from failing to remove or cure within the applicable time periods a New Title Exception or New Survey Defect required to be removed or cured pursuant to Section 2.8.3, CWI shall be entitled to obtain a reimbursement from WPPI of CWI’s actual out of pocket expenses incurred in connection with this Agreement and due diligence not to exceed Five Hundred Thousand Dollars ($500,000).

  • If WPPI does not provide a New Title and Survey Election Notice to CWI within such time period, then WPPI shall be deemed to have elected to accept the New Title Exception or New Survey Defect as an Unpermitted Exception pursuant to clause (A) of the preceding sentence.

  • The Seller will not create or permit to exist any New Title Exception on New Survey Defect.

  • Except with respect to any Required Removal Exception which Seller shall be required to remove on or prior to Closing, if Seller does not provide a Title and Survey Election Notice to Purchaser within such time period, then Seller shall be deemed to have elected not to remove or cure such Unpermitted Exception, New Title Exception or New Survey Defect pursuant to clause (2) of the preceding sentence.

  • Neither Seller not SSL Riverview will create or permit to exist any New Title Exception or New Survey Defect, without the prior written consent of Purchaser.

  • In the event that Seller fails to remove or cure such New Title Exception or New Survey Defect at or prior to Closing, Purchase shall be entitled to the same remedies as set forth in the preceding paragraph.

Related to New Survey Defect

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

  • Existing Survey means the existing ALTA survey of the Property.

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

  • 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.

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

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

  • 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.

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

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

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Nonconforming lot means a lot that met dimensional requirements of the applicable master program at the time of its establishment but now contains less than the required width, depth or area due to subsequent changes to the master program.

  • Title Review Period shall have the meaning set forth in Section 4.3.

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

  • 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.

  • Title Report has the meaning set forth in Section 5.4(b).

  • 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:

  • Record of survey map means a map of a survey of land prepared in accordance with Section 10-9a-603, 17-23-17, 17-27a-603, or 57-8-13.

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

  • Defective Mortgage Loan Any Mortgage Loan which is required to be repurchased pursuant to Section 2.02 or 2.03.

  • 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.

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

  • Nonconforming sign means a sign or sign structure, other than a nonstandard sign or a sign that is erected and maintained in a business area along a scenic byway prior to the designation as a scenic byway, that satisfies 1 of the following:

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

  • Preliminary Title Report A report issued by a title insurance company in anticipation of issuing a Title Insurance policy which evidences existing liens and gives a preliminary opinion as to the absence of any encumbrance on title to a Mortgaged Property, except liens to be removed on or before purchase or refinance, as the case may be, by the Borrower and Permitted Encumbrances.

  • 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.