Existing Violations definition

Existing Violations means any condition on the Property, existing on or before the Delivery Date, which gives rise to a violation of record of Legal Requirements, issued by a Governmental Authority with applicable jurisdiction prior to or within twelve (12) months after the Delivery Date.
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Existing Violations has the meaning set forth in ss. 3(n) below. -2-
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Existing Violations shall have the meaning ascribed under the definition of “Permitted Exceptions” in this Section 1.1.
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Examples of Existing Violations in a sentence

  • The Mortgage Loan documents are recourse to the Mortgagor and the guarantor for any losses incurred as a result of any of the Existing Violations.

  • Borrower has requested that Bank waive the Events of Default arising from the Existing Violations.

  • Bank is agreeable to the requests of the Borrower, subject to the terms and conditions hereof, and therefore Bank hereby waives the Events of Default arising from the Existing Violations.

  • From and after the Lease Assignment Date, Landlord shall pay or otherwise remove all fines, penalties and other monetary charges imposed by reason of the Existing Violations (it being acknowledged that, prior to the Lease Assignment Date, 42DP is obligated to perform the foregoing obligations pursuant to the Initial Ground Lease).

  • Additionally, the Mortgagor covenanted in the Mortgage Loan documents to diligently pursue and use commercially reasonable efforts to cure the Existing Violations and to deliver to the lender reasonably satisfactory evidence that the violations have been cured and removed as open violations in the applicable public records.

  • Notwithstanding anything to the foregoing set forth in this paragraph 8(a), Seller shall have no obligation to cure the Existing Violations to the extent that the cost of curing the Existing Violations, in the aggregate, is greater than $250,000.

  • In addition, the Seller agrees to regularly update the Purchaser as to the status of the Existing Violations.

  • If Seller and Purchaser shall be unable to agree upon the cost of complying with such Existing Violations, Seller shall, at its sole cost and expense, retain an independent engineer that is reasonably designated by Seller (the "Violations Engineer"), to estimate such cost, and the credit to be received by Purchaser under this Section 5 shall be an amount equal to the Violations Engineer's final determination of such cost of compliance.

  • The Seller and Purchaser hereby agree that the Purchaser shall have the right to hold back $15,000 of the Purchase Price at Closing if the Seller has failed to cure all of the Existing Violations by the date of Closing (the “Hold Back”).

  • Borrower shall clear any Existing Violations from the public record within sixty (60) days of the date hereof; provided that such period shall be extended for such additional period as may be commercially reasonable to clear the same, provided that Borrower is exercising diligent efforts to clear the same.


More Definitions of Existing Violations

Existing Violations. Section 7.01 “FAR”- Section 4.04(d)
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Existing Violations means, collectively, the events and ------------------- circumstances specifically described in Schedule "1" attached hereto, ------------ insofar and only insofar, as the occurrence and/or existence of such ------------------------ events or circumstances (as such events and circumstances are specifically described in Schedule "1" attached hereto and as such ------------ events and circumstances exist as of the date of the First Amendment) might constitute a Default and/or an Event of Default under the Credit Agreement and/or the other Loan Documents as of the date of the First Amendment. Provided, however, that the term `Existing Violations' ------------------- shall not mean or include (i) any of the events or circumstances described in Schedule "1" attached hereto insofar as the occurrence ------------ and/or continuation of such event or circumstance may constitute, or result in, any violation, breach, default or event of default (howsoever designated) under any note, bond, other evidence of indebtedness, agreement, contract or other arrangement (in each case, other than the Credit Agreement and the other Loan Documents), or (ii) any of the events or circumstances described in Schedule "1" attached ------------ hereto insofar as such event or circumstance may, at any time after the date of the First Amendment, change, vary, develop, or otherwise be, or become, different, in any adverse and material respect, than it is as of the date of the First Amendment. By way of illustration only, and without limiting the generality of the foregoing, the existence of any lawsuit described or referred to in Schedule "1" attached hereto ------------ would constitute an `Existing Violation'; however, any adverse and ------------------ material ruling, judgment, determination or other development in connection with any such lawsuit would constitute an adverse and material change with respect to such lawsuit and, as such, such lawsuit would not, thereafter, constitute an `Existing Violation'." ------------------
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Existing Violations means those certain violations of record, if any, set forth on Schedule VI attached hereto. “Exit Fee” shall mean one and twenty-five hundredths percent (1.25%) of (a) the original principal balance of the Loan (less any portion of the Exit Fee previously paid by Borrower in connection with any partial prepayment of the Loan pursuant to the following sub-section (b)), or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid. “Extended Maturity Date” shall mean the date which is the one (1) year anniversary of the Scheduled Maturity Date. “Extension Fee” shall mean a fee for the Extension Term payable by Borrower equal to the product of the outstanding principal balance of the Loan (including all accrued and unpaid interest) as of the Scheduled Maturity Date (i.e., before giving effect to the Extension Term) multiplied by twenty-five hundredths percent (.25%), which fee shall be deemed earned in full upon the extension of the Scheduled Maturity Date pursuant to this Agreement.
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Related to Existing Violations

  • Environmental Violation means, with respect to the Property, any activity, occurrence or condition that violates or results in non-compliance with any Environmental Law.

  • Violations shall have the meaning assigned to such term in Section 6(a).

  • Governmental Real Property Disclosure Requirements means any Requirement of Law of any Governmental Authority requiring notification of the buyer, lessee, mortgagee, assignee or other transferee of any Real Property, facility, establishment or business, or notification, registration or filing to or with any Governmental Authority, in connection with the sale, lease, mortgage, assignment or other transfer (including any transfer of control) of any Real Property, facility, establishment or business, of the actual or threatened presence or Release in or into the Environment, or the use, disposal or handling of Hazardous Material on, at, under or near the Real Property, facility, establishment or business to be sold, leased, mortgaged, assigned or transferred.

  • Restrictive Covenant Violation means the Participant’s breach of the Restrictive Covenants listed on Appendix A or any covenant regarding confidentiality, competitive activity, solicitation of the Company’s vendors, suppliers, customers, or employees, or any similar provision applicable to or agreed to by the Participant.

  • Environmental Releases means releases as defined in CERCLA or under any applicable state or local environmental law or regulation.

  • Existing Contamination means any Contamination present on, or under, the Site as of the execution date of this Contract.

  • Environmental Activities means the use, generation, transportation, handling, discharge, production, treatment, storage, release or disposal of any Hazardous Materials at any time to or from any portion of the Premises or located on or present on or under any portion of the Premises.

  • Environmental Requirements means all Laws and requirements relating to human, health, safety or protection of the environment or to emissions, discharges, releases or threatened releases of pollutants, contaminants, or Hazardous Materials in the environment (including, without limitation, ambient air, surface water, ground water, land surface or subsurface strata), or otherwise relating to the treatment, storage, disposal, transport or handling of any Hazardous Materials.

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Environmental Laws means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

  • Environmental Actions means any complaint, summons, citation, notice, directive, order, claim, litigation, investigation, judicial or administrative proceeding, judgment, letter, or other communication from any Governmental Authority, or any third party involving violations of Environmental Laws or releases of Hazardous Materials from (a) any assets, properties, or businesses of any Borrower or any predecessor in interest, (b) from adjoining properties or businesses, or (c) from or onto any facilities which received Hazardous Materials generated by any Borrower or any predecessor in interest.

  • Environmental Activity means any activity, event or circumstance in respect of a Contaminant, including, without limitation, its storage, use, holding, collection, purchase, accumulation, assessment, generation, manufacture, construction, processing, treatment, stabilization, disposition, handling or transportation, or its Release, escape, leaching, dispersal or migration into the natural environment, including the movement through or in the air, soil (land surface or subsurface strata), surface water or groundwater;

  • Environmental Release means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing or migration into the environment.

  • Governmental Requirements means all judgments, orders, writs, injunctions, decrees, awards, laws, ordinances, statutes, regulations, rules, franchises, permits, certificates, licenses, authorizations and the like and any other requirements of any government or any commission, board, court, agency, instrumentality or political subdivision thereof.