Common use of Existing defects Clause in Contracts

Existing defects. If any defects, liens or encumbrances existing at Commitment Date are not shown in Schedule B, we may amend Schedule B to show them. If we do amend Schedule B to show these defects, liens or encumbrances, we shall be liable to you according to Paragraph 4 below unless you knew of this information and did not tell us about it in writing.

Appears in 2 contracts

Sources: Asset Purchase Agreement (United Mine Services, Inc.), Hotel Purchase and Sale Agreement (Apple Hospitality Two Inc)