Unpermitted Exception definition

Unpermitted Exception means with respect to any Real Property (provided the same is not caused by the actions of Purchaser):
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Unpermitted Exception means any defect in the title of any of the Land or any other matter unacceptable to Buyer in Buyer’s reasonable discretion, other than Permitted Exceptions.
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Unpermitted Exception. As defined in Section 23(a).
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Examples of Unpermitted Exception in a sentence

  • Absent notice from Purchaser to Seller in accordance with the preceding sentence, Purchaser shall be deemed to have elected to take title subject to said Unpermitted Exception.

  • If Seller fails to cure or have said Unpermitted Exception removed or have the Title Insurer commit to insure as specified above within said thirty (30) day period or if Seller elects not to exercise its rights under (ii) in the preceding sentence, Purchaser may terminate this Agreement upon notice to Seller within five (5) days after the expiration of said thirty (30) day period.

  • If Seller is unable to convey title to the Property subject only to the Permitted Exceptions because of the existence of an additional title exception ("Unpermitted Exception"), then Purchaser can elect to take title to the Property subject to the Unpermitted Exception or terminate this Agreement.

  • Absent notice from Purchaser to Seller in accordance with the preceding sentence, Purchaser shall be deemed to have elected to take title subject to said Unpermitted Exception, without any reduction in or setoff against the Purchase Price as a result thereof.

  • If an employee takes four or more hours of unscheduled paid leave (e.g., sick leave or annual leave) during the workweek, the employee will not be eligible for overtime at the time-and-one-half (1.5) rate until he/she has worked in excess of 36 hours in the workweek with three scheduled straight-time days for 12-hour shift employees, or in excess of 40 hours in a workweek with 40 hours scheduled straight-time work.

  • Any such Unpermitted Exception which Seller elects to bond over, cure or cause the Title Insurer to remove shall be additional Permitted Exceptions.

  • With regard to an Unpermitted Exception for which Purchaser gives Seller a Title Notice, Seller may but shall not have the obligation to notify Purchaser (the "Response Notice") within three (3) business days of receipt of the Title Notice whether Seller shall bond over, cure or cause the Title Insurer to remove such Unpermitted Exception from the Title Commitment.

  • The Parties acknowledge and agree that Prior Agreement is amended and restated in its entirety by this Agreement and as of the Effective Date the Agreement is no longer in effect.

  • If Seller does not so notify Purchaser, with respect to any Unpermitted Exception, Purchaser may either waive its objection and proceed towards closing or terminate this Agreement by giving written notice to Seller of its election within three (3) additional business days of the earlier to occur of (a) receipt by Purchaser of the Response Notice and (b) expiration of the three (3) business day period in which Seller may deliver the Response Notice.

  • If, prior to Closing but after the end of the Inspection Period, a date-down to the Commitment discloses any new exception which is not a Permitted Exception ("Unpermitted Exception"), Seller shall provide Purchaser with notice within five (5) business days of notice by Purchaser to Seller of the existence of such Unpermitted Exception stating whether Seller intends to cure any objection.


More Definitions of Unpermitted Exception

Unpermitted Exception has the meaning set forth in Section 5(h)(iii).
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Unpermitted Exception has the meaning set forth in Section 8.3.
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Unpermitted Exception means any defect in the title of any of the Land or any other matter unacceptable to Buyers disclosed by the Title Commitments or title reports, title exception documents or the Surveys, or any update of any of the foregoing.
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Unpermitted Exception is defined in Section 5.14(b).
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Related to Unpermitted Exception

  • Permitted Exception means (a) liens for Taxes and other governmental charges and assessments which are not yet due and payable, (b) liens of landlords and liens of carriers, warehousemen, mechanics and materialmen and other like liens arising in the ordinary course of business for sums not yet due and payable, (c) other liens or imperfections on property which are not material in amount or do not materially detract from the value or the existing use of the property affected by such lien or imperfection, (d) such statements of fact and exceptions shown on any title insurance policies delivered to Global.

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

  • Blanket encumbrance means a trust deed or mortgage or any other lien or encumbrance,

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

  • 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.

  • Release Property has the meaning set forth in Section 2.5.

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

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

  • Permitted Encumbrance means, with respect to any Mortgaged Property, such exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.

  • Permitted Encumbrances means:

  • 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.

  • 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.

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

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

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

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

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

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Property Condition Report means a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion.

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

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

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

  • 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.

  • Title Commitments has the meaning set forth in Section 5.9.