Permitted Title Defects definition

Permitted Title Defects means, in respect of any particular asset of a person, any of the following:
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Permitted Title Defects means, in respect of any asset or property of the Borrower or Petro-Canada or any Designated Subsidiary, the following defects in its title thereto:
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Permitted Title Defects means, in respect of the Trust, the Borrower, Adminco or any Material Subsidiary:
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Examples of Permitted Title Defects in a sentence

  • As of the date hereof, (a) the Company has good and valid title (other than Permitted Title Defects) to all of the Purchased COT Assets under the heading “Existing Purchased Assets” on Schedule A (the “Existing Purchased Assets”), (b) the Existing Purchased Assets are free and clear of all Encumbrances, and (c) the Existing Purchased Assets are the only assets of the Company.

  • As of the Closing, (a) the Company has good and valid title (other than Permitted Title Defects) to all of the Purchased COT Assets on Schedule A, (b) the Purchased COT Assets are free and clear of all Encumbrances, and (c) the Purchased Assets are the only assets of the Company.


More Definitions of Permitted Title Defects

Permitted Title Defects means the exceptions to title of the Land accepted by ConocoPhillips pursuant to Section 7.1(e) of the Omnibus Agreement. “Person” means any individual, sole proprietorship, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability
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Permitted Title Defects means any defects in title of any Purchased Asset which is attributable to a scriveners’, transcription or other similar errors on the certificates of title or title transfer documents which do not in any material respect impair the value of such Purchased Asset.
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Permitted Title Defects means, as at any particular time, any of the following rights, limitations, reservations, provisos, conditions, exceptions, qualifications, agreements, obligations and interests on or in respect of the undertaking, property or assets, or any part of the undertaking, property or assets, of the Corporation or any Restricted Subsidiary:
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Permitted Title Defects means, in respect of the Restricted Group:
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Permitted Title Defects means, in respect of any properties of any Borrower or Guarantor, the following defects in title to such property:
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Related to Permitted Title Defects

  • 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.

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

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

  • 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 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:

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

  • Excepted Property has the meaning specified in the granting clauses of this Indenture.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

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

  • 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.

  • Immaterial Title Deficiencies means minor defects or deficiencies in title which do not diminish more than 2% of the aggregate value of the Oil and Gas Properties evaluated in the Reserve Report used in the most recent determination of the Borrowing Base.

  • Transferred Real Property shall have the meaning set forth in Section 1.2(a)(vii).

  • 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.

  • Permitted Encumbrances means:

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

  • 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.

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

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

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

  • Excluded Real Property means (a) any fee-owned real property with a purchase price (in the case of real property acquired after the Effective Date) or Fair Market Value (in the case of real property owned as of the Effective Date, with Fair Market Value determined as of the Effective Date) of less than $3,500,000 individually, (b) any real property that is subject to a Lien permitted by Sections 6.02(iv), (xix), (xxii), (xxiii), (xxviii) or (xxxi), (c) any real property with respect to which, in the reasonable judgment of the Term Administrative Agent (confirmed by notice to the Borrower) the cost (including as a result of adverse tax consequences) of providing a Mortgage shall be excessive in view of the benefits to be obtained by the Lenders, (d) any real property to the extent providing a mortgage on such real property would (i) be prohibited or limited by any applicable law, rule or regulation (but only so long as such prohibition or limitation is in effect), (ii) violate a contractual obligation to the owners of such real property (other than any such owners that are the Borrower or Affiliates of the Borrower) that is binding on or relating to such real property (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code) but only to the extent such contractual obligation was not incurred in anticipation of this provision or (iii) give any other party (other than the Borrower or a wholly-owned Restricted Subsidiary of the Borrower) to any contract, agreement, instrument or indenture governing such real property the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable law) and (e) any Leasehold.

  • Allocated Value means, in respect of any particular asset of a Participating CCAA Party, the amount of the sale proceeds realized from such asset, net of costs allocated to such asset all pursuant to the Allocation Methodology and, in respect of any Secured Claim, the amount of such sale proceeds receivable on account of such Secured Claim after taking into account the priority of such Secured Claims relative to other creditors holding a Lien in such asset;

  • Transferred Property shall have the meaning specified in Section 2.1(a) hereof.

  • Contributed Property means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.5(d), such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.

  • Tangible Property means all equipment, machinery, goods, furniture, furnishings, fixtures, supplies, tools, materials, vehicles, books, records, and other tangible personal property that are part of the Collateral.

  • Defensible Title means such title of Seller that, subject to and except for the Permitted Encumbrances:

  • Excluded Personal Property has the meaning set forth in Section 2.2(c).