Known Defects definition

Known Defects means any and all reports, and any and all facts and conclusions set forth therein, which were commissioned or requested and received by the Company or any of its affiliates in connection with the transactions contemplated by this Agreement or the other Transaction Documents and which relate to, or were prepared in connection with, environmental or structural matters with respect to any one or more properties currently or formerly owned, operated or leased by any Seller or any of its subsidiaries.
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Known Defects means the defect(s) set out in Schedule 4, Part 1 (Known Defects and Known Defects Longstop Date).
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Examples of Known Defects in a sentence

  • From the Known Defects Longstop Date (or if earlier, from the date that such Known Defects have been rectified to the satisfaction of the Project Company) the relevant defect shall cease to be a Known Defect and the O&M Contractor shall provide the O&M Services in relation to any affected part of the Facility (including any replacement items) in accordance with the terms of this Agreement.

  • If the O&M Contractor is the same as or an Affiliate of the Supplier, the O&M Contractor shall have no claim for the Known Defects Fee.

  • Known Defects Upon Supplier's knowledge of any defects or malfunctions, Supplier shall notify DMAS immediately, in writing (email is sufficient), and work with DMAS to expediently create a mutually agreed upon schedule to correct the defects or malfunctions, or provide a work around until corrected, and provide DMAS with corrected copies of same.

  • Known Defects Supplier’s offerings and responsibilities related to known defects in the Software are described in Exhibit C.

  • Known Defects Supplier shall promptly notify VDOT in writing of any defects or malfunctions in the Solution or Documentation of which it learns from any source.

  • The O&M Contractor, provided it is not the same company as or an Affiliate company of the Supplier, shall be entitled to the Known Defects Fee once the Known Defects have been rectified in accordance with Clause 4.10(a).

  • Known Defects Supplier shall promptly notify VDSS in writing of any defects or malfunctions in the Solution or Documentation of which it learns from any source.

  • Known Defects30 If identified as applicable in the Key Information Table and where so instructed by the Project Company acting reasonably, the O&M Contractor shall rectify the Known Defects in accordance with the standards of a Reasonable and Prudent Operator as soon as reasonably practicable and by no later than the Known Defects Longstop Date.

  • Known Defects (physical or title) Marketing the Property‌ ▇▇▇▇▇▇ agrees to use reasonable efforts in marketing the Property in accordance with the terms of this Agreement.

  • Known Defects Seller ❑agrees ❑does not agree to provide a Property Condition Disclosure Statement.

Related to Known Defects

  • Latent Defects means such defects caused by faulty designs, material or work man ship which cannot be detected during inspection, testing etc, based on the technology available for carrying out such tests.

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Latent Defect means a defect, inherently lying within the material or arising out of design deficiency, which do not manifest themselves and/or was not reasonably discoverable during Defect Liability period.

  • Qualification Defect With respect to a Mortgage Loan, (a) a defective document in the Custodial Mortgage File or Retained Mortgage File, (b) the absence of a document in the Custodial Mortgage File or Retained Mortgage File, or (c) the breach of any representation, warranty or covenant with respect to the Mortgage Loan made by the Company, but, in each case, only if the affected Mortgage Loan would cease to qualify as a "qualified mortgage" for purposes of the REMIC Provisions.

  • Construction defect means a deficiency in or a deficiency arising out of the design, specifications, surveying, planning, supervision, or observation of construction or construction of residential improvements that results from any of the following: