Examples of Disapproved Exceptions in a sentence
If Seller notifies Buyer of its election to decline to remove the Disapproved Exceptions, or if Seller is unable to remove the Disapproved Exceptions (other than any obligations of Buyer under Section 7), Buyer may elect either to terminate this Agreement and the Escrow or to accept title to the Property subject to the Disapproved Exception(s).
In the event Buyer delivers Buyer's Title Notice within said period, Seller shall have a period of ten (10) days after receipt of Buyer's Title Notice in which to notify Buyer of Seller's election to either (i) agree to attempt to remove the Disapproved Exceptions prior to the Close of Escrow; or (ii) decline to remove any such Disapproved Exceptions (“ Seller's Notice”).
Buyer shall exercise such election by delivery of written notice to Seller and Escrow Holder within five (5) days following the earlier of (i) the date of written advice from Seller that such Disapproved Exception(s) cannot be removed; or (ii) the date Seller declines to remove such Disapproved Exception(s).
County shall have a period of thirty (30) days after receipt of the Title Notice or Developer’s deemed disapproval of the Title Report to either (i) remove, or agree to remove prior to Closing, any item disapproved or deemed disapproved by Developer (each, a “Disapproved Exception”) and to notify Developer in writing of same, or (ii) to advise Developer in writing that County will not remove some or all of the Disapproved Exceptions on or before the Closing (the “County Response Notice”).
Seller's failure to timely deliver Seller's Notice shall be deemed to constitute Seller's election not to take action to eliminate any of such Disapproved Exceptions.