Material Exception definition

Material Exception shall have the meaning assigned thereto in the Custodial Agreement.

Material Exception has the meaning set forth in Section 1.2(a) of the Custodial Agreement.

Material Exception means, with respect to any Mortgage Loan, any Exception listed on the Exception Report consisting of a variance described as a "Material Exception" on Annex 14 or the absence from the Mortgage File, or deficiency in respect of, any of the Mortgage Loan Documents set forth in Sections 2(I)(a)-(f) of this Custodial Agreement.

Examples of Material Exception in a sentence

• Any such election shall be made by Buyer not later than three (3) business days from Buyer obtaining Buyer’s knowledge of such Material Exception Matter.

• All Material Exceptions will be reported to the Commissioner of Education by the SFO or Department and will require preparation and submission of a Corrective Action Plan by the school to the SFO outlining the steps the school plans to take to correct the Material Exception.

• No one can argue with the principle that only eligible families should receive benefits and that they should receive precisely the benefits for which they qualify.

• The Fund is an exchange-traded fund (“ETF”) and Shares of Highland/iBoxx Senior Loan ETF are listed on NASDAQ, Inc.

• If this is not done, this is a Material Exception requiring a Corrective Action Plan(CAP) from the school’s administration.Section III – Non-Education Related & Shared Expenses Non-School Expenses - Prepare to identify to the CPA any non-school expenses that are paidfrom the bank account(s) and how they are tracked separately from education-related expenses.

More Definitions of Material Exception

Material Exception means any exception to title or matter shown on any amendment to the Title Commitment or revisions to the Survey issued after the expiration of the Inspection Period (a) that was not disclosed on the latest version of the Title Commitment received by Purchaser at least five (5) business days prior to the expiration of the Inspection Period, the Existing Survey, or the latest version of the Survey received by Purchaser at least five (5) business days prior to the expiration of the Inspection Period or that did not exist prior to the expiration of the Inspection Period, and (b) is not a Permitted Exception hereunder.

Material Exception means, with respect to any Asset, any Exception listed on the Asset Schedule and Exception Report consisting of the absence from the Asset File, or deficiency in respect of, any of the Asset Documents set forth in Section 2(a)(i), 2(a)(iii), 2(a)(iv), 2(a)(v), 2(a)(vi), 2(a)(vii), 2(b)(i), 2(b)(iii), 2(b)(iv), 2(c)(i), 2(c)(ii), 2(c)(iii), 2(d)(i) or 2(d)(ii) of the Custodial Agreement.

Material Exception means, with respect to any Mortgage Loan, any Exception listed on an Exception Report consisting of the absence from the Mortgage File, or deficiency in respect of, any of the fatal exceptions for Mortgage Asset Documents as set forth with an "F" in the document exception codes attached as Exhibit G hereto.

Material Exception is defined in Section 4(c)(ix).

Material Exception means, (a) (i) with respect to any Mortgage Loan, any Exception listed on the Exception Report consisting of the absence from the Mortgage File, or deficiency in respect of, any of the Mortgage Loan Documents set forth in Section 2(I)(a), 2(I)(c), 2(I)(d), 2(I)(e), or 2(I)(g) (other than with respect to Document Deficient Assets), or (ii) for which the information set forth in Section I of Annex 1 to the Mortgage Custodial Agreement is incomplete, (b) with respect to any Eligible Bond or Underlying Eligible Bond, any deviation from the document requirements set forth in

Material Exception means, (a) (i) with respect to any Mortgage Loan, any Exception listed on the Exception Report consisting of the absence from the Mortgage File, or deficiency in respect of, any of the Mortgage Loan Documents set forth in Section 2(I)(a), 2(I)(c), 2(I)(d), 2(I)(e), or 2(I)(g) (other than with respect to Document Deficient Assets), or (ii) for which the information set forth in Section I of Annex 1 to the Mortgage Custodial Agreement is incomplete, (b) with respect to any Eligible Bond or Underlying Eligible Bond, any deviation from the document requirements set forth in Section 5.02(g) hereof, and (c) with respect to any Participation Certificate, any deviation from the document requirements set forth in Section 5.02(f) or the absence from the Participation Certificate File of any document or information required therein.

Material Exception means, (a) (i) with respect to any Mortgage Loan, any Exception listed on the Exception Report consisting of the absence from the Mortgage File, or deficiency in respect of, any of the Mortgage Loan Documents set forth in Section 2(I)(a), 2(I)(c), 2(I)(d), 2(I)(e), or 2(I)(g) (other than with respect to Document Deficient Assets), or (ii) for which the information set forth in Section I of Annex 1 to the Mortgage Custodial Agreement is incomplete, (b) with respect to any Eligible Bond, any deviation from the document requirements set forth in Section