Approved Exceptions Clause Samples
The "Approved Exceptions" clause defines specific deviations from the standard terms of an agreement that have been mutually agreed upon by the parties. In practice, this clause lists particular conditions, obligations, or requirements that are exempt from the general rules set out in the contract, such as waiving certain deadlines or modifying standard procedures for a particular party. Its core function is to formally document and authorize these exceptions, ensuring both parties have a clear understanding of any special arrangements and reducing the risk of future disputes over compliance with the contract's terms.
Approved Exceptions. The term "Approved Exceptions" shall mean those exceptions to title that are approved in accordance with this Agreement.
Approved Exceptions. 6.3.1 The existence of other mortgages, liens, or encumbrances shall not be objections to title, provided that properly executed instruments in recordable form necessary to satisfy and remove the same of record are delivered to the Purchaser at Closing or, in the alternative, with respect to any mortgage or deed of trust liens, that payoff letters from the holder of the mortgage or deed of trust liens shall have been delivered to and accepted by the Title Insurer (sufficient to remove the same from the Policy at Closing), together in either case with recording and/or filing fees.
6.3.2 Unpaid liens for taxes, charges, and assessments shall not be objections to title, but the amount thereof plus interest and penalties thereon shall be deducted from the Purchase Price to be paid for the Property hereunder and allowed to Purchaser, subject to the provisions for apportionment of taxes and charges contained herein.
6.3.3 Exceptions for utility easements that do not involve an encroachment or violation shall not be objections to title.
Approved Exceptions. Approved Exceptions" means: