Defective Properties definition

Defective Properties means the Real Properties which, in the reasonable judgment of the Rescuing Company, have any environmental defect, title defect, occupancy by persons associated with organized crime or any other material defect similar thereto, affecting or potentially affecting the value of, or the realization of the value of, or the Rescuing Company's willingness to acquire title to, such Real Properties.
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Examples of Defective Properties in a sentence

  • For the avoidance of doubt, to the extent that the ▇▇▇▇▇▇▇ Properties are excluded pursuant to Section 5(e), such ▇▇▇▇▇▇▇ Properties shall not be deemed to be Defective Properties or otherwise taken into account for purposes of whether the Defective Properties Threshold has been equaled or exceeded.

  • Notwithstanding the foregoing, there shall not be a failure of a condition as set forth above unless such failed condition affects Assigned Interests and/or Direct Sale Properties, or a combination thereof, which in the aggregate equal or exceed the Defective Properties Threshold.

  • Seller and Purchaser hereby agree and acknowledge that Purchaser shall provide a list of such Defective Properties to Seller, setting forth the address of each Defective Property.

  • In addition, Seller shall have the right to cure any Defective Properties as set forth in Section 3(c).

  • In the event that more than three (3) ------------------------ Properties shall be designated Defective Properties and Excluded Properties pursuant to Section 3.2(c), either the HSD Parties or the Company shall have the -------------- right to terminate this Agreement by the giving of written notice thereof to the other on or prior to the Closing Date, whereupon, no party shall have any further rights or obligations under this Agreement except those which expressly survive such termination.

  • Seller may, at Seller's option, delay the Closing on all of the Properties in order to cure such Defect with respect to each Property affected ("Defective Properties").

Related to Defective Properties

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Subject Assets is defined in Section 2.2(c).