Existing Violations definition

Existing Violations means any condition on the Property, existing on or before the Delivery Date, which gives rise to a violation of record of Legal Requirements, issued by a Governmental Authority with applicable jurisdiction prior to or within twelve (12) months after the Delivery Date.
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Existing Violations means, collectively, the events and ------------------- circumstances specifically described in Schedule "1" attached hereto, ------------ insofar and only insofar, as the occurrence and/or existence of such ------------------------ events or circumstances (as such events and circumstances are specifically described in Schedule "1" attached hereto and as such ------------ events and circumstances exist as of the date of the First Amendment) might constitute a Default and/or an Event of Default under the Credit Agreement and/or the other Loan Documents as of the date of the First Amendment. Provided, however, that the term `Existing Violations' ------------------- shall not mean or include (i) any of the events or circumstances described in Schedule "1" attached hereto insofar as the occurrence ------------ and/or continuation of such event or circumstance may constitute, or result in, any violation, breach, default or event of default (howsoever designated) under any note, bond, other evidence of indebtedness, agreement, contract or other arrangement (in each case, other than the Credit Agreement and the other Loan Documents), or (ii) any of the events or circumstances described in Schedule "1" attached ------------ hereto insofar as such event or circumstance may, at any time after the date of the First Amendment, change, vary, develop, or otherwise be, or become, different, in any adverse and material respect, than it is as of the date of the First Amendment. By way of illustration only, and without limiting the generality of the foregoing, the existence of any lawsuit described or referred to in Schedule "1" attached hereto ------------ would constitute an `Existing Violation'; however, any adverse and ------------------ material ruling, judgment, determination or other development in connection with any such lawsuit would constitute an adverse and material change with respect to such lawsuit and, as such, such lawsuit would not, thereafter, constitute an `Existing Violation'." ------------------
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Existing Violations shall have the meaning ascribed under the definition of “Permitted Exceptions” in this Section 1.1.
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Examples of Existing Violations in a sentence

  • Additionally, the Mortgagor covenanted in the Mortgage Loan documents to diligently pursue and use commercially reasonable efforts to cure the Existing Violations and to deliver to the lender reasonably satisfactory evidence that the violations have been cured and removed as open violations in the applicable public records.

  • The Existing Violations and the New Violations are referred to herein, collectively, as the “Violations”.

  • The Mortgage Loan documents are recourse to the Mortgagor and the guarantor for any losses incurred as a result of any of the Existing Violations.

  • From and after the Lease Assignment Date, Landlord shall pay or otherwise remove all fines, penalties and other monetary charges imposed by reason of the Existing Violations (it being acknowledged that, prior to the Lease Assignment Date, 42DP is obligated to perform the foregoing obligations pursuant to the Initial Ground Lease).

  • Bank is agreeable to the requests of the Borrower, subject to the terms and conditions hereof, and therefore Bank hereby waives the Events of Default arising from the Existing Violations.

  • Borrower has requested that Bank waive the Events of Default arising from the Existing Violations.

  • Borrower represents and warrants that none of the Existing Violations have caused or is reasonably expected to cause (i) the Property to be unsafe and/or dangerous to the health or safety of the Tenants or other guests that may occupy or visit the Property and/or (ii) a Material Adverse Effect.

  • Seller shall cause all Existing Violations to be remedied to Buyer’s reasonable satisfaction on or prior to three (3) business days prior to Closing; notwithstanding the foregoing to the contrary, the Existing Violation regarding the Detention Pond Condition shall be governed by Section 7.10 of this Agreement.

  • The Seller and Purchaser hereby agree that the Purchaser shall have the right to hold back $15,000 of the Purchase Price at Closing if the Seller has failed to cure all of the Existing Violations by the date of Closing (the “Hold Back”).

  • In furtherance of the foregoing, it is understood that in the event (i) the cost to comply with the Existing Violations exceeds $250,000 in the aggregate, (ii) Seller elects not to cure such Existing Violations and (iii) Purchaser nevertheless elects to proceed with the Closing, then Purchaser shall be entitled to a Purchaser Credit, not to exceed $250,000, less any amounts Seller has expended to cure such Existing Violations.


More Definitions of Existing Violations

Existing Violations has the meaning set forth in ss. 3(n) below. -2-
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Existing Violations means those certain violations of record, if any, set forth on Schedule VI attached hereto. “Exit Fee” shall mean one and twenty-five hundredths percent (1.25%) of (a) the original principal balance of the Loan (less any portion of the Exit Fee previously paid by Borrower in connection with any partial prepayment of the Loan pursuant to the following sub-section (b)), or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid. “Extended Maturity Date” shall mean the date which is the one (1) year anniversary of the Scheduled Maturity Date. “Extension Fee” shall mean a fee for the Extension Term payable by Borrower equal to the product of the outstanding principal balance of the Loan (including all accrued and unpaid interest) as of the Scheduled Maturity Date (i.e., before giving effect to the Extension Term) multiplied by twenty-five hundredths percent (.25%), which fee shall be deemed earned in full upon the extension of the Scheduled Maturity Date pursuant to this Agreement.
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Existing Violations. Section 7.01 “FAR”- Section 4.04(d)
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