Permitted Exception Clause Samples

Permitted Exception. Employee shall be permitted without violating Sections 2(b), 2(d), 12(c), or 12(d) of this Agreement to make passive personal investments in securities that are registered on a national stock exchange if the aggregate amount owned by him and all family members and Affiliates does not exceed 2% of such company’s outstanding securities as long as (i) these activities do not prevent Employee from fulfilling his duties, responsibilities, and authorities under this Agreement, and (ii) Employee fully complies with his otherwise applicable obligations under this Agreement.

Permitted Exception. A defect of title, regardless of its disposition under this Section, shall not result in a reduction of the Purchase Price.

Permitted Exception. Notwithstanding the foregoing, Purchaser acknowledges the residential tenancy on the Owned Property pursuant to that certain Residential-Lease Agreement dated December 12, 2022 (the “Residential Lease”) and such Residential Lease is hereby deemed a Permitted Exception. Ceres Farms delivered notice of termination of the Residential Lease on April 4, 2023 and it shall terminate on or before December 31, 2023.

Permitted Exception. Notwithstanding the foregoing provisions of this section, the Representative shall be permitted to (i) own up to five percent of the publicly-traded securities, registered under Section 12 or 15(d) of the Securities Exchange Act of 1934, of any competitor of the Company, and (ii) continue to own an interest in and fully participate in the business of the Company and any other wholly-owned or partially-owned subsidiary of the Representative in which the Represenative owned an interest or in whose business the Representative participated, in both cases at the time of the expiration or termination of this Agreement, provided, however, that such ownership and participation was not in violation of this Agreement.

Permitted Exception. Notwithstanding the foregoing provisions of this section, Neidner shall be permitted to (i) own up to five percent of the publicly-traded securities, registered under Section 12 or 15(d) of the Securities Exchange Act of 1934, of any competitor of Purchaser, and (ii) continue to own an interest in and fully participate in the business of ▇▇▇▇▇▇▇▇▇.▇▇▇, Inc., a Delaware corporation.

Permitted Exception. If Seller fails to respond, within the time set forth above, to any objection to Title Defects timely delivered by Buyer as set forth above, Seller shall be deemed to have elected to cure the Title Defects at issue. If Seller elects to take no action with respect to one or more Title Defects that in the aggregate would constitute a Business Material Adverse Effect, Buyer may terminate this Agreement within 10 days of notice of such election.

Permitted Exception. Notwithstanding the foregoing provisions of this section, Consultant shall be permitted to own up to five percent of the publicly-traded securities, registered under Section 12 or 15(d) of the Securities Exchange Act of 1934, of any competitor of the Company.

Permitted Exception. Notwithstanding any provision of Section 4.1 to the contrary, Flying J and its Affiliates may create a Restricted Partnership with the approval of the Conflicts Committee.

Permitted Exception. The provisions of Clause 29.1(b) shall not apply to any credit balance (in whatever currency denominated) held by a Bank at the Enforcement Date to the extent that it is capable of being set off against any accrued liability to that Bank at the Enforcement Date, where:-