Common use of Certain Exceptions to Title Clause in Contracts

Certain Exceptions to Title. If any update of a Commitment or any Updated Survey for a Property other than Kentucky Oaks Mall (each, a "▇▇▇▇▇▇-Managed Property") discloses any new mortgage, lien, restriction, option, conditional sales agreement, pledge, security interest, or other encumbrance, adversely affecting the relevant Property in any material respect (each, an "Encumbrance") or any encroachment, change in the boundary of a Property (as compared to the boundary shown on the Delivered Survey) or other survey defect, in either case that is not a Permitted Exception and that adversely affects in any material respect (i) the applicable Property Owner's title to such Property or (ii) the current or future use of any portion of such Property in a manner consistent with such Property Owner's use of such Property as of the date of this Agreement (all such Encumbrances and other new encroachments, changes and other survey defects are collectively referred to herein as "Other Exceptions"), then within ten (10) Business Days after CBL first receives notice thereof or such lesser time as remains between such receipt and the Closing Date with respect to such Property, CBL will have the right to object in writing to such Other Exception. Unless CBL notifies JRI in writing that it objects to an Other Exception with respect to a ▇▇▇▇▇▇-Managed Property within the foregoing time period, each such Other Exception automatically will constitute an additional Permitted Exception. Other Exceptions to which CBL timely objects (in the case of ▇▇▇▇▇▇-Managed Properties within the time-frame set forth in this Section 3.2(a) and in the case of Kentucky Oaks Mall within the time-frame set forth in Section 3.2(d)(i)) are collectively referred to herein as "Subsequent Title Objections".

Certain Exceptions to Title. If any update of a Commitment or any Updated Survey for a Property other than Kentucky Oaks Mall (each, a "▇▇▇▇▇▇-Managed Property") discloses any material new mortgage, (i) lien, restrictionrestriction on use, option, conditional sales agreement, pledge, security interest, or other encumbranceexception, adversely affecting the relevant Property in any material respect encumbrance or title defect (each, an "Encumbrance") or any (ii) encroachment, change in the boundary of a Property (as compared to the boundary shown on the Delivered Survey) or other survey defect, in either case that is not a Permitted Exception and that adversely affects in any material respect (i) the applicable Property Owner's title to such Property or (ii) the current or future use of any portion of such Property in a manner consistent with such Property Owner's use of such Property as of the date of this Agreement (all such Encumbrances and other new encroachments, changes and other survey defects are collectively referred to herein as "Other Exceptions"), then the Purchaser will have the right to object in writing to such Other Exception so long as it delivers the notice to CFCL within ten five (105) Business Days after CBL the Purchaser first receives notice thereof such updated Commitment or Updated Survey or such lesser time as remains between such receipt and the Closing Date with respect to such the affected Property, CBL will have the right to object in writing to such Other Exception. Unless CBL the Purchaser notifies JRI CFCL in writing that it objects to an Other Exception with respect to a ▇▇▇▇▇▇-Managed Property within the foregoing time period, each such Other Exception automatically will constitute an additional Permitted Exception. Other Exceptions to which CBL the Purchaser timely objects (in the case of ▇▇▇▇▇▇-Managed Properties within the time-time frame set forth in this Section 3.2(a) and in the case of Kentucky Oaks Mall within the time-frame set forth in Section 3.2(d)(i)) are collectively referred to herein as "Subsequent Title Objections".