Material Title Exceptions definition
Material Title Exceptions means title exceptions affecting any Property that (i) materially impair the current use or value of such Property for its intended purpose or the operation of the business conducted thereon, and (ii) are not Permitted Exceptions, Voluntary Title Exceptions or Monetary Title Exceptions. Without limiting the generality of the foregoing, the parties hereto agree that the Lease Options shall not be deemed to be Material Title Exceptions.
Material Title Exceptions shall have the meaning set forth in Section 2.3(c)(iii).
Material Title Exceptions has the meaning set out in Section 8.8(e)(i).
Examples of Material Title Exceptions in a sentence
Without limiting the generality of the foregoing, the Parties agree that (1) the items set forth on Schedule 8.8(e)(i), (2) any Environmental 43 Liability and (3) any regulatory or Permit matter necessary for the ownership or use of any Owned Real Property shall not be deemed to be Material Title Exceptions.
With respect to each Core Property as to which the aggregate Diminution in Value for all uncured Material Title Exceptions on such Core Property as estimated by the Purchaser Parties or as otherwise agreed by the Purchaser Parties and Seller is equal to or less than $350,000, the Purchaser Parties shall close without any credit for the Diminution in Value.