Permitted Real Estate Exceptions definition

Permitted Real Estate Exceptions has the meaning set forth in Section 6.01(a).

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Permitted Real Estate Exceptions has the meaning set forth in Section 6.01(a). “Person” means any natural person, corporation, limited liability company, partnership, joint venture, trust, association or unincorporated entity of any kind and any Governmental Authority or instrumentality.

Permitted Real Estate Exceptions means (a) the matters disclosed on Schedule B of any title policy held by any Project Company or shown on any title survey relating to any Project, and any Liens created thereby or pursuant thereto, and (b) any Applicable Laws that are Liens.

Examples of Permitted Real Estate Exceptions in a sentence

Seller has good and marketable fee simple title to the Real Property free and clear of all Liens, except for the Permitted Real Estate Exceptions.
Except for the Permitted Real Estate Exceptions, to the Company's Knowledge, there is no unrecorded or undisclosed legal or equitable interest in any Real Property owned or claimed by any Person.
A commitment for an owner’s extended coverage policy of title insurance issued by a title company satisfactory to Buyer to be dated as of the Closing Date insuring title to such Owned Real Property in an amount at least equal to the allocated portion of the Purchase Price applicable thereto and free and clear of all Liens and other exceptions to or exclusions from coverage, other than the Permitted Real Estate Exceptions (in each case, a “Title Commitment”).
Schedule 7.08 contains a complete list of all Permitted Real Estate Exceptions that are of record as of the date of this Agreement.
Purchaser shall be deemed to have accepted all defects and exceptions disclosed by the commitment, any secured transaction search undertaken by Purchaser, and Survey to which Purchaser does not object in a timely Objection Notice, and such accepted defects and exceptions shall be deemed to be Permitted Real Estate Exceptions hereunder.
Title to the Owned Real Property shall be insurable by Ticor Title Insurance Company, at such company's regular rates pursuant to an ALTA 1987 owner's form of policy, free of all exceptions, including the so-called standard exceptions and survey exceptions, except the Permitted Real Estate Exceptions.
Seller has good and indefeasible title to the Real Property and a valid and subsisting leasehold estate to the Properties other than the Real Property, free and clear of all Liens, except for the Permitted Real Estate Exceptions.
Subject to the terms and conditions of this Agreement, on the Closing Date, Purchaser will acquire good and marketable title to all of the Assets, free and clear of any Encumbrances, except Permitted Real Estate Exceptions.
An owner’s extended coverage policy of title insurance issued by a title company satisfactory to Buyer and dated as of the Closing Date insuring title to such Owned Real Property in an amount at least equal to the allocated portion of the Purchase Price applicable thereto and free and clear of all Liens and other exceptions to or exclusions from coverage, other than the Permitted Real Estate Exceptions.

More Definitions of Permitted Real Estate Exceptions

Permitted Real Estate Exceptions means (i) real estate taxes, assessments, governmental levies, fees or charges or statutory liens for current taxes or other governmental charges with respect to the Owned Real Property or Leased Real Property not yet due and payable or being contested in good faith by appropriate proceedings, (ii) mechanics’, carriers’, workers’, repairers’ and similar Liens arising or incurred in the ordinary course of business for amounts which are not delinquent or the amount or validity of which are being contested in good faith by appropriate proceedings; (iii) zoning, entitlement, building codes and other land use regulations, ordinances or laws imposed by Governmental Authorities having jurisdiction over the Owned Real Property or Leased Real Property; (iv) all rights relating to the construction and maintenance in connection with any public utility of wires, poles, pipes, conduits and appurtenances thereto, on, under or above the Owned Real Property or Leased Real Property; (v) riparian rights of others in and to any creeks, streams or bodies of water, including flowage rights; (vi) rights to minerals of whatever kind and character, including all coal, iron ore, oil, gas, sulfur, methane gas in coal seams, limestone, sand, gravel and other minerals, metals and ores (“Minerals”) located on, in or under each parcel of Owned Real Property or Leased Real Property and all rights, limitations, restrictions and reservations with respect to the mining, extraction, storage, transmission and removal of the Minerals so located; (vii) all existing public and private roads, streets and sidewalks (whether dedicated or undedicated), and all railroad lines and rights-of-way in connection therewith; (viii) all electric power, telephone, cable, gas, sanitary sewer, storm sewer, water and other utility lines, pipelines, service lines, drains, drainage ditches, culverts, electric power or gas generation or cogeneration, storage or transmission facilities, and all other similar facilities, improvements and structures located on, over or under any real property, and all licenses, easements, rights-of-way and other similar agreements or arrangements relating thereto granted or reserved in the ordinary course of business; (ix) all easements, covenants, rights of access, ingress and egress and rights-of-way and all other matters of record; (x) any state of facts which an accurate survey of the property would disclose; (xi) the grant or lease to, or the exception or reservation of, develop...

Permitted Real Estate Exceptions means (i) all defects, exceptions, restrictions, easements, rights of way and encumbrances disclosed in policies of title insurance which have been made available to Purchaser; and (ii) minor survey exceptions, reciprocal easement agreements and other customary encumbrances on title to real property that for purposes of clauses (i) and (ii) of this definition: (a) do not render title to the property encumbered thereby unmarketable (including restricting ingress to and egress from the property), (b) do not, individually or in the aggregate, detract from the value of or interfere with the value of or the use of such property for its current and anticipated purposes, or (c) do not require or will not require the payment by Purchaser of any Tax or other payment whether due and owning or not yet due related to the ownership of the property prior to the Closing Date (except as provided in Sections 3.7 and 8.2).