New Title Exception definition

New Title Exception has the meaning set forth in Section 5.3.3.
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New Title Exception has the meaning set forth in Section 4.2.2 of this Agreement.
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New Title Exception means any matter which first arises and is shown as an exception to title in the Title Report (or any amendments or updates thereof) after the Review Period Expiration Date and prior to the Closing Date due to the acts or omissions (whenever occurring) of a person or entity other than Buyer, or Buyer’s employees, agents or contractors, without Buyer’s prior written approval, and which (a) will materially interfere with Buyer’s proposed use of the Property after Closing, or (b) constitutes a lien or other monetary encumbrance on title to the Property.
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Examples of New Title Exception in a sentence

  • In the event that Seller is unable or unwilling to remove any New Title Exception identified in a New Title Exception Notice on or before Closing, then Buyer may elect to either: (I) accept such New Title Exception and proceed with Closing, in which event such New Title Exception shall constitute a Permitted Exception, or (II) elect to terminate this Agreement, in which event this Agreement shall terminate and Buyer shall be entitled to a refund of the Deposit and the Extension Deposit (if applicable).

  • Seller shall have no obligation to remove any New Title Exception, or any other title defect or condition, or otherwise take any action with respect to the Permitted Exceptions.

  • If Buyer timely elects to terminate, and if the New Title Exception affects the value of the Property in a greater than de minimis amount, the Escrow Deposit (minus Escrow Holder’s and the Title Company’s cancellation fees) shall be returned to Buyer by Escrow Holder and neither party shall have any further rights or liabilities hereunder, except for those provisions (including this provision) which expressly survive the termination of this Agreement.

  • Buyer’s failure to deliver a Title Objection Notice by the Objection Deadline shall be deemed Buyer’s approval of the New Title Exception and waiver of any further right to object with respect thereto.

  • If the Title Company raises any New Title Exception, the Closing Date shall be extended to the extent necessary to accommodate the objection and response process and time periods specified heretofore in this subsection, provided that in no event shall the Closing Date be extended beyond the Outside Closing Date.

  • Notwithstanding anything to the contrary in this subsection, if a New Title Exception is attributable to Seller’s breach of a covenant set forth in Section 7.2, Seller shall be obligated to remove the exception on or before the Closing (failure of which shall entitle Buyer to its remedies under Section 12.1).

  • If the Title Company discloses in writing to Buyer that Title Company intends to include in the Title Policy a title exception that does not appear in the Form Title Commitment (each, a “New Title Exception”), Buyer shall have until five (5) business days following such disclosure of the New Title Exception (the “Objection Deadline”), to deliver a Title Objection Notice to Seller and Escrow Holder disapproving the New Title Exception.

  • Quantitation Level (QL) also known as Minimum Level of Quantitation (ML) – The lowest level at which the entire analytical system must give a recognizable signal and acceptable calibration point for the analyte.

  • If Seller timely removes or corrects the New Title Exception to Buyer’s reasonable satisfaction or obtains an agreement from Title Company to provide title insurance at Closing over or with respect to the New Title Exception, the parties shall proceed to Closing on the Closing Date, or on such earlier Business Day as may be mutually agreed upon by Seller and Buyer, without any reduction in the Purchase Price by reason of such New Title Exception and otherwise on the terms provided for in this Agreement.

  • If the New Title Exception is due to the acts or omissions of Seller, Seller shall use its commercially reasonable efforts to (i) remove or correct the New Title Exception to Buyer’s reasonable satisfaction on or prior to the Closing Date or (ii) cause the Title Company to provide, at Closing, title insurance over the New Title Exception, at Seller’s cost and expense.


More Definitions of New Title Exception

New Title Exception means an exception that (a) was not disclosed in the Preliminary Report, (b) does not constitute an Easement approved under subsection 9.2.2 above, or (c) does not arise from CFD 2000-1 described in section 9.7 below. BUYER's Disapproval Notice shall also itemize any and all objections that BUYER may have to any such New Title Exception. If BUYER fails to timely deliver a Disapproval Notice, BUYER shall be conclusively deemed to have approved all such exceptions and items shown in the Final Title Report or Pro Forma Policy, whichever is applicable, and the requirement for BUYER's approval of title to the Land shall be deemed satisfied for all purposes; provided, however, this provision providing for automatic approval shall not constitute BUYER's approval of any deed of trust, mortgage or other security instrument encumbering the Land, and BUYER shall be deemed to have automatically disapproved and objected to any such items and SELLER shall cause the same to be removed from title to the Property prior to Closing.
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New Title Exception means an exception to title not shown in the Title Report and which (a) would, in BUYER's reasonable judgment, materially interfere with BUYER's proposed use or enjoyment of the Property, including the ability of BUYER to sell, lease or finance the Property, or (b) constitutes a lien or other monetary encumbrance upon the Property. If a New Title Exception arises, BUYER shall have a period of ten (10) days from the delivery of a supplement to the Title Report
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New Title Exception means any matter which first arises and is shown as an exception to title in the Title Commitment (or any amendments or updates thereof) after the Review Period Expiration Date and prior to the Closing Date due to the acts or omissions (whenever occurring) of a person or entity other than Buyer, or Buyer’s employees, agents or contractors, without Buyer’s prior written approval, and which (a) will materially interfere with Buyer’s proposed use of the Property after Closing, or
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Related to New Title Exception

  • 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 Exception means that, with respect to any representation, warranty or covenant with respect to the interest of the Buyer and its assignees in the ARSC Purchased Assets or any Servicer Default, that (i) prior to recordation (A) pursuant to Section 8.3 of this Agreement and/or Section 2.01(d)(i) of the Transfer and Servicing Agreement or (B) upon the sale of a Home to an Ultimate Buyer, record title to such Home may remain in the name of the related Transferred Employee, and no recordation in real estate records of any mortgage or any conveyance pursuant to the related Home Purchase Contract or Home Sale Contract in favor of any Transaction Party or any of the Buyer’s assignees and assigns pursuant to the Receivables Purchase Agreement will be made except as otherwise permitted under Section 2.01(d)(i) of the Transfer and Servicing Agreement and (ii) no delivery of any Home Purchase Contracts, Home Deeds and Equity Loan Notes to any custodian will be required.

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

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

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

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

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

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • 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.

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

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

  • Title Defect means with respect to a Lease any lien, encumbrance, adverse claim, default, expiration, failure, defect in or objection to real property title, other than Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ title to the Lease less than Defensible Title.

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

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

  • Title IX means 20 U.S.C. §§ 1681-1688 and the implementing regulations.

  • 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).

  • Title Policies has the meaning set forth in Section 6.17.

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

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Title Documents shall have the meaning set forth in Section 4.1.

  • Title Page means, for a printed book, the title page itself, plus such following pages as are needed to hold, legibly, the material this License requires to appear in the title page. For works in formats which do not have any title page as such, “Title Page” means the text near the most prominent appearance of the work’s title, preceding the beginning of the body of the text.

  • 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.

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

  • Survey means a survey of the Property prepared by a surveyor licensed in the State and satisfactory to Lender and the company or companies issuing the Title Insurance Policy, and containing a certification of such surveyor satisfactory to Lender.

  • Survey Area means the area of land or waters the subject of a Survey, or proposed to be the subject of a Survey.