Objection and Response Process Sample Clauses

Objection and Response Process. On or before the expiration of the Due Diligence Period (the “Objection Deadline”), Purchaser shall give written notice (the “Objection Notice”) of any matter set forth in the Title Documents and the Survey to which Purchaser objects. If Purchaser fails to tender an Objection Notice on or before the Objection Deadline, Purchaser shall be deemed to have approved and irrevocably waived any objections to any matters covered by the Title Documents and the Survey. On or before five (5) days after receiving the Objection Notice, (the “Response Deadline”), Seller may give Purchaser written notice (the “Response Notice”) of those objections Seller is willing to cure, if any. If Seller fails to deliver a Response Notice by the Response Deadline, Seller shall be deemed to have elected not to cure or otherwise resolve any matter set forth in the Objection Notice. If Purchaser is dissatisfied with the Response Notice or the lack of Response Notice, Purchaser may, as its exclusive remedy, terminate this Agreement by delivering written notice to Seller within ten (10) days after the Response Deadline. If Purchaser fails to timely exercise such right, Purchaser shall be deemed to accept the Title Documents and Survey with resolution, if any, of the objections set forth in the Response Notice (or if no Response Notice is tendered, without any resolution of the objections) and without any reduction or abatement of the Purchase Price. If Seller fails to cure any objections which Seller agreed to cure in the Response Notice by the date that is ten (10) days after the Objection Deadline, then Purchaser may, as its exclusive remedy, either (a) accept the Title Documents and Survey without resolution of such objections and without any reduction or abatement of the Purchase Price, or (b) terminate this Agreement by delivering written notice to Seller prior to Closing. If Purchaser terminates this Agreement pursuant to this Section 0, this Agreement shall have no further force or effect. Notwithstanding anything to the contrary set forth above, in no event shall Purchaser be deemed to have agreed to accept title subject to (i) monetary liens, encumbrances or security interests against Seller and/or the Property or any real estate taxes, (ii) encumbrances that have been voluntarily placed against the Property by Seller after the Effective Date without Purchaser’s prior written consent and that will not otherwise be satisfied on or before the Closing, or (iii) exceptions that can b...
Sample 1Sample 2See All (48)
AutoNDA by SimpleDocs
Objection and Response Process. On or before the Effective Date, Purchaser has, on a Property-by-Property basis, given written notice to Sellers’ Representative of those matters set forth in the Title Documents and/or Surveys to which Purchaser objects (the “Objections”). In response to such Objections, Sellers agree as follows with respect to each Property: (a) the applicable Seller will cause the Title Company to issue the Title Policy, deleting all existing mortgages, deeds of trust and related security instruments, including, without limitation, any Deed of Trust (other than any such document or instrument relating to the Assumed Encumbrances); (b) the applicable Seller will cause to be removed from the Title Commitment prior to Closing, or will bond over at Closing or otherwise have removed from the Title Policy, any mechanic’s liens, materialmen’s liens, judgments of record, writs and other monetary liens (provided the amount of such other monetary lien does not exceed $250,000.00); (c) the applicable Seller will cooperate with Purchaser in seeking to obtain, but shall not be required to obtain, releases of any agreements or memoranda of agreement relating to expired or terminated laundry leases and cable television agreements; and (d) the applicable Seller will provide such reasonable affidavits to the Title Company as are customarily required in order to remove the standard exceptions to title from the Title Policies. Sellers shall not be required to take any other action with respect to the Objections and Purchaser shall have no right to terminate this Agreement as a result of such Objections (except as a result of Sellers’ default of their obligations under subparagraphs (a), (b), and (d) above), provided the foregoing shall not be construed to limit Purchaser’s right to work directly with the Title Company and the applicable surveyor, as applicable, to resolve any Objections (provided such resolution imposes no obligation on any Seller). Each Seller shall be entitled to a reasonable adjournment of the Closing Date for its Property in order to accomplish the foregoing, but in no event later shall such extension be for longer than thirty (30) days from the then scheduled Closing Date.
Sample 1Sample 2Sample 3See All (6)
Objection and Response Process. 4.3.1 On or before the date which is seven (7) days prior to the expiration of the Feasibility Period (the “Objection Deadline”), Purchaser may, on a Property-by-Property basis, give written notice (the “Objection Notice”) to Sellers of any matter set forth in any Title Documents and Surveys or Existing Surveys, as applicable, to which Purchaser objects (the “Objections”). If Purchaser fails to tender an Objection Notice with respect to a Property on or before the Objection Deadline, Purchaser shall be deemed to have approved and irrevocably waived any objections to any matters disclosed in the Title Documents and the Survey or Existing Survey for such Property prior to the Objection Deadline; provided that, (i) the foregoing shall not limit Purchaser’s right to terminate this Contract pursuant to Section 3.2 and (ii) in no event shall Purchaser be deemed to have approved and waived any objections with respect to Mandatory Removal Exceptions.
Sample 1
Objection and Response Process. On or before the end of the Feasibility Period (the "Objection Deadline"), Purchaser shall give written notice (the "Objection Notice") to the attorneys for Seller (Xxxxxxxxxx Xxxxx & Xxxxxx, P.C. at the address set forth in Section 13.7) of any matter set forth in the Title Documents or the Survey to which Purchaser objects (the "Objections"). If Purchaser fails to tender an Objection Notice on or before the Objection Deadline, Purchaser shall be deemed to have approved and irrevocably waived any objections to any matters covered by the Title Documents and the Survey. Within three (3) Business Days after Seller's receipt of the Objections, if any (the "Response Deadline"), Seller may, in Seller's sole discretion, give Purchaser notice (the "Response Notice") of those Objections which Seller is willing to cure, if any. Seller shall be entitled to reasonable adjournments of the Closing Date to cure the
Sample 1

Related to Objection and Response Process

  • Impasse Procedure 1. If negotiations are not successfully concluded by the first day of school, impasse shall exist. At any earlier time either party may declare impasse. The parties may mutually agree to extend impasse deadlines. Upon reaching of impasse, the items causing the impasse shall be referred to a three-member committee.

  • Impasse Procedures The Parties shall seek to reach agreement relative to the appointment of a mediator not later than the sixtieth (60) day preceding the budget submission date. The Parties shall seek to reach agreement relative to the appointment of a fact finder not later than the forty-fifth (45) day preceding the budget submission date. The Parties shall consider but not be limited to the service of the Federal Mediation and Conciliation Service and the American Arbitration Association for a mediator and fact finder respectively. If the Parties fail to reach an agreement on the choice of a mediator or fact finder, the PELRB shall be petitioned under the provisions of 273-A: 12.

  • CAFA Notice Pursuant to 28 U.S.C. § 1715, not later than ten (10) days after the Agreement is filed with the Court, the Settlement Administrator shall cause to be served upon the Attorneys General of each U.S. State in which Settlement Class members reside, the Attorney General of the United States, and other required government officials, notice of the proposed settlement as required by law, subject to Paragraph 5.1 below.

  • Response to Notice Within ten business days of receiving the Claim Notice, the Respondent must notify the Claimant of its representative to negotiate the dispute.

  • STOP WORK NOTICE The City may issue an immediate Stop Work Notice in the event the Contractor is observed performing in a manner that is in violation of Federal, State, or local guidelines, or in a manner that is determined by the City to be unsafe to either life or property. Upon notification, the Contractor will cease all work until notified by the City that the violation or unsafe condition has been corrected. The Contractor shall be liable for all costs incurred by the City as a result of the issuance of such Stop Work Notice.

  • Notice to NASD In the event any person or entity (regardless of any NASD affiliation or association) is engaged to assist the Company in its search for a merger candidate or to provide any other merger and acquisition services, the Company will provide the following to the NASD and EBC prior to the consummation of the Business Combination: (i) complete details of all services and copies of agreements governing such services; and (ii) justification as to why the person or entity providing the merger and acquisition services should not be considered an "underwriter and related person" with respect to the Company's initial public offering, as such term is defined in Rule 2710 of the NASD's Conduct Rules. The Company also agrees that proper disclosure of such arrangement or potential arrangement will be made in the proxy statement which the Company will file for purposes of soliciting stockholder approval for the Business Combination.

  • Notice to the Union At the time notice of displacement is issued, a copy of the notice shall be sent to the Union xxxxxxx.

  • Notice Procedure Subject to Sections 7(f)(iv) and 7(f)(vi) hereof, whenever, under the provisions of any statute, the Certificate of Formation or this Agreement, notice is required to be given to any Manager, such notice shall be deemed given effectively if given in person or by telephone, by mail addressed to such Manager at such Manager’s address as it appears on the records of the Company, with postage thereon prepaid, or by telegram, telex, telecopy or any other lawful means (including electronic transmission) addressed as aforesaid.

  • Distribution or Notice to Representative Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness, the distribution may be made and the notice given to their Representative (if any).

  • Request for clarification of the report 1. Within 10 days of the release of the report, either of the disputing Parties may submit a written request to the Panel, a copy of which shall be sent to the other Party, for clarification of any items the Party considers requires further explanation or definition. 2. The Panel shall respond to the request within 10 days following the submission of such request. The clarification of the Panel shall only be a more precise explanation or definition of the original contents of the report, and not an amendment of such report. 3. The filing of this request for clarification will not postpone the effect of the Panel report nor the deadline for compliance of the adopted decision, unless the Panel decides otherwise.

Time is Money Join Law Insider Premium to draft better contracts faster.