Defect Notice Time definition
Examples of Defect Notice Time in a sentence
Beginning on the date of this Agreement and ending at the Defect Notice Time, Buyer shall have the right, at its sole cost, risk, and expense, to conduct an environmental assessment of the Assets.
Seller shall conclusively be deemed to have waived any additional interest not asserted by an Interest Addition Notice on or before the Defect Notice Time.
Buyer shall notify Seller in writing of any Environmental Defect (an “Environmental Defect Notice”) no later than the Defect Notice Time.
For any Title Defect asserted by Buyer in a Title Defect Notice by the Defect Notice Time, if Seller fails to timely deliver a Title Defect Rejection Notice, then (a) Seller shall be deemed to have accepted the validity of such Title Defect and such Title Defect Value and (b) the Purchase Price shall be reduced, subject to Section 7.5, by an amount equal to such Title Defect Value unless such Title Defect is Cured.
From the date hereof through the Defect Notice Time, the Parties will use good faith commercially reasonable efforts to meet biweekly, whether in person or via conference call, to discuss the status of Buyer’s Environmental Defect review.
For any Interest Addition asserted by Seller in an Interest Addition Notice by the Defect Notice Time, if Buyer fails to timely deliver an Interest Addition Rejection Notice, Buyer shall be deemed to have accepted the validity of such Interest Addition and such Interest Addition Value, (subject to Section 7.6(d)) the Purchase Price shall be increased by an amount equal to such Interest Addition Value.
Notwithstanding anything herein to the contrary, other than the representations made by the Seller Parties in Section 4.27, Buyer forever waives Environmental Defects not asserted by an Environmental Defect Notice no later than the Defect Notice Time.
The Seller Parties shall conclusively be deemed to have waived any additional interest not asserted by an Interest Addition Notice on or before the Defect Notice Time.
Buyer shall notify the Seller Parties in writing of any Environmental Defect (an “Environmental Defect Notice”) no later than the Defect Notice Time.
Beginning on the Execution Date and ending five (5) Business Days before the Defect Notice Time, Buyer shall have the right, at its sole cost, risk, and expense, to conduct a Phase I environmental assessment of the Assets.