Common use of Removal of New Exceptions Clause in Contracts

Removal of New Exceptions. As used in this Agreement, “Remove” shall mean that Hersha Owner in its discretion will either (i) take such actions as are necessary to eliminate (of record or otherwise, as appropriate) the New Exception, (ii) cause the Title Company to remove the New Exception as an exception to the owner’s policy of title insurance and affirmatively insure against the same in form and content acceptable to Owner JV, whether such insurance is made available in consideration of payment, bonding, indemnity of Hersha Owner or otherwise, or (iii) deliver its own funds to the Title Company with instructions for the Title Company to apply such funds to discharge fully the New Exception on or prior to the Closing Date, together with such instruments, in recordable form, as are necessary to enable the Title Company to discharge the New Exception of record and funds necessary to cover the fees and expenses of the Title Company for discharging the claim and recording or filing such instruments.

Removal of New Exceptions. As used in this Agreement, “Remove” shall mean that Hersha Owner in its discretion will either (i) take such actions as are necessary to eliminate (of record or otherwise, as appropriate) the New Exception, (ii) cause the Title Company to remove the New Exception as an exception to the owner’s policy of title insurance and affirmatively insure against the same in form and content acceptable to Owner JV, whether such insurance is made available in consideration of payment, bonding, indemnity of Hersha 21 Owner or otherwise, or (iii) deliver its own funds to the Title Company with instructions for the Title Company to apply such funds to discharge fully the New Exception on or prior to the Closing Date, together with such instruments, in recordable form, as are necessary to enable the Title Company to discharge the New Exception of record and funds necessary to cover the fees and expenses of the Title Company for discharging the claim and recording or filing such instruments.

Removal of New Exceptions. As used in this Agreement, “Remove” shall mean that Hersha Owner in its discretion will either (i) take such actions as are necessary to eliminate (of record or otherwise, as appropriate) the New Exception, (ii) cause the Title Company to remove the New Exception as an exception to the owner’s policy of title insurance and affirmatively insure against the same in form and content acceptable to Owner JV, whether such insurance is made available in consideration of payment, bonding, indemnity of Hersha Owner or otherwise, or (iii) deliver its own funds to the Title Company with instructions for the Title Company to apply such funds to discharge fully the New Exception on or prior to the Closing Date, together with such instruments, in recordable form, as are necessary to enable the 22 Title Company to discharge the New Exception of record and funds necessary to cover the fees and expenses of the Title Company for discharging the claim and recording or filing such instruments.