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, Provider 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 Recipient, and (ii) continue to own an interest in and fully participate in the business of Recipient and any other wholly-owned or partially-owned subsidiary of Provider in which Provider owned an interest or in whose business Provider 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. If Buyer gives written notice of any Objections, Seller shall, not more than five (5) business days after its receipt of Buyer's written Objections, advise Buyer which Objections Seller intends to cure. Seller hereby acknowledges and agrees that it shall use its good faith efforts to cure any Objections relating to the payment of liens or encumbrances created by Seller, and may, but shall have no obligation to cure Objections based on matters other than Seller created liens or encumbrances. Seller's lack of response shall be deemed Seller's decision not to cure the Objections. Buyer hereby objects to any deed of trust, mechanics or similar lien filed against the Property and, to the extent such encumbrances were created by or as a result of Seller's acts, Seller agrees to cause such encumbrances to be released by Seller or Seller's lender's at or prior to Closing. If Seller elects to not cure one or more Objections before Close of Escrow, Buyer shall, within five (5) business days after its receipt of such notice, notify Seller of Buyer's election to either (i) terminate this Agreement effective upon giving written notice thereof to Seller and the Title Company and thereupon, Buyer shall be entitled to the return of the Deposit and this Agreement and all obligations hereunder shall thereupon terminate, except those which expressly survive termination; or (ii) waive the Objections Seller has elected not to cure and consummate the purchase of the Property subject to such Objections, which shall be included within the Permitted Exceptions without any abatement or reduction of the Purchase Price.

Permitted Exception. Any matter shown on the Survey to which ▇▇▇▇▇ does not so object shall be deemed a “Permitted Exception”.

Permitted Exception. Customer and Pepsi acknowledge and agree that the following are the only permitted exceptions to Pepsi’s Beverage rights at the Facilities:

Permitted Exception. Notwithstanding the foregoing to the contrary, BEA shall not be in breach of its obligations under Section 9.4.2 hereof if BEA solicits for employment or hires NCR professional services employees with expertise in the Software in Europe and/or Asia/Pacific who have been identified to BEA by NCR. NCR agrees that at its discretion, during the six (6) months following the Closing Date, it shall assist BEA by identifying a reasonable number of such personnel and by providing introductions to them for BEA representatives.

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.