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Unpermitted Exceptions definition

Unpermitted Exceptions has the meaning set forth in Section 5.3.1.
Unpermitted Exceptions shall have the meaning set forth in Section 7.4 hereof.
Unpermitted Exceptions has the meaning set forth in Section 4.2.1 of this Agreement.

Examples of Unpermitted Exceptions in a sentence

  • All other exceptions to title shall be referred to as "Unpermitted Exceptions".

  • On the Closing Date, Title Insurer shall deliver to Purchaser a standard title policy in conformance with the previously delivered Title Commitment, subject to Permitted Exceptions and Unpermitted Exceptions waived by Purchaser (the "Title Policy").

  • If Seller fails to deliver such written notice to Buyer within such 10-day period, then Seller shall be deemed to have declined to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured.

  • Notwithstanding the foregoing, if such date down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, equal or exceed $25,000, Seller shall have the right, but not the obligation, to bond over, cure and/or have such exceptions removed from the Title Commitment or to have the Title Insurer commit to insure against loss or damage that may be occasioned by such Unpermitted Exceptions.

  • Seller agrees to convey fee simple title to the Property by Special Warranty Deed ("Deed") in recordable form subject only to the Permitted Exceptions and Unpermitted Exceptions waived by Purchaser.


More Definitions of Unpermitted Exceptions

Unpermitted Exceptions means the exceptions to title to the Real Property, other than Permitted Exceptions.
Unpermitted Exceptions has the meaning ascribed to it in Section 4.05(c).
Unpermitted Exceptions. This term shall have the meaning ascribed to it in Section 7.02 below.
Unpermitted Exceptions shall have the meaning set forth in Section 8.10.2.
Unpermitted Exceptions has the meaning set forth in Section 5.3.1. AUS-6206654-10 6055890/60
Unpermitted Exceptions means any lien, encumbrance, easement, agreement, restriction, proceeding, notice, covenant, exception to title, survey matter, flood zone designation or any other matter (specifically excluding any violations that may exist relating to violations of set-backs of improvements such as carports, sheds and the like), in each case to the extent that same would cause title to a Property, in Purchaser’s reasonable discretion, to be “unmarketable” or the Property to be “unfinanceable” by commercial real estate lenders such as insurance companies, CMBS lenders, Xxxxxx Xxx or other institution lenders who are in the business of providing mortgage financing secured by manufactured housing communities. Purchaser shall have the right to request that the Title Insurer provide, at Purchaser’s sole cost and expense, any reinsurance or endorsements Purchaser shall request, provided that the issuance of such reinsurance or endorsements shall not be a condition to or delay the Closing.
Unpermitted Exceptions means, (i) all mortgages, deeds of trust, mechanics liens (other than with respect to the Ongoing Work, provided that Seller satisfies its obligations with respect thereto under Section 11.5) for work, labor and/or materials procured by, or by Manager at the direction of, Seller, judgment liens, Tax liens or any other monetary liens or monetary encumbrances (other than real estate Taxes or assessments that are a lien but not yet due and payable) encumbering title to the Property which may be removed in accordance with its terms by payment of a liquidated amount (any of the foregoing 2230752.03F-NYCSR03A - MSW individually or collectively, “Monetary Encumbrances”), (ii) any New Title Exceptions objected to by Purchaser that are voluntarily created by Seller, or by Manager at the direction of Seller, without Purchaser’s consent, (iii) the Operating Lease, (iv) Taxes which constitute Title Exceptions which would be delinquent if unpaid at Closing; provided, however, that if any such Taxes are payable in installments, such obligation shall apply only to the extent such installments would be delinquent if unpaid at Closing, and (v) any other Title Exceptions objected to by Purchaser (excluding Monetary Encumbrances) which may be removed in accordance with its terms by payment of a liquidated amount, which, in each case, Seller is required to remove of record at or prior to Closing, regardless of whether Purchaser fails to object to such Title Exceptions, provided that in the case of Title Exceptions described in clause (v), Seller’s obligation to remove such exceptions shall be limited to the aggregate sum of One Million and 00/100 Dollars ($1,000,000.00) (other than Title Exceptions set forth on Schedule 5.1.1, which shall not be applied towards such sum), beyond which such Title Exceptions shall be deemed Permitted Exceptions; provided, however, that (i) the rights and interests of customers and guests at the Hotel to occupy rooms as guests only on a transient license basis, (ii) the rights of tenants or licensees under the Tenant Leases, as tenants only, pursuant to the Tenant Leases, (iii) the rights of Manager or any of its Affiliates under the HMA Documents, (iv) the rights of the Condominium Association and the Condominium Board under the Condominium Documents, (v) the rights of any party other than Seller under the Golf Course Use Agreements, the Tennis License Agreement, the Hotel Facilities Agreement, the Cost Sharing Agreement or the Revenue Sharing ...