New Exception definition

New Exception shall have the meaning set forth in Section 4.6.

New Exception has the meaning ascribed to such term in Section 6(a) hereof.

New Exception has the meaning set forth in Section 5.1(a).

Examples of New Exception in a sentence

• If Seller fails to deliver a notice to Purchaser within 3 days after the expiration of the New Exception Review Period, Seller shall be deemed to have elected not to cure the New Exception.

• If Purchaser fails to notify Seller of its election to terminate this Contract in accordance with the foregoing sentence within 6 days after the expiration of the New Exception Review Period, Purchaser shall be deemed to have elected to approve and irrevocably waive any objections to the New Exception.

• If Purchaser disapproves of the New Exception, Seller may, in Seller’s sole discretion, notify Purchaser as to whether it is willing to cure the New Exception.

• If Purchaser disapproves of the New Exception, Seller may, in Seller's sole discretion, notify Purchaser as to whether it is willing to cure the New Exception.

• If Purchaser is dissatisfied with Seller's response, or lack thereof, Purchaser may, as its exclusive remedy elect either: (i) to terminate this Contract, in which event the Deposit shall be promptly returned to Purchaser or (ii) to waive the New Exception and proceed with the transactions contemplated by this Contract, in which event Purchaser shall be deemed to have approved the New Exception.

More Definitions of New Exception

New Exception means any encroachment, overlap, boundary line dispute or other matter that materially or adversely affects title to the Property shown on any amended Preliminary Title Report issued by Title Insurer.

New Exception has the meaning set forth in Section 3.4.3.1.

New Exception means any exceptions to title arising after the effective date of the Title Commitment which resulted from the intentional act or omission of Seller. Within three (3) business days after receipt of Purchaser's notice of such objections, Seller shall notify Purchaser in writing whether Seller elects to attempt to cure such objections. If Seller elects to attempt to cure, Seller shall have until the date of Closing to attempt to remove, satisfy or cure the same and for this purpose Seller shall be entitled to a reasonable adjournment of the Closing if additional time is required to a date mutually satisfactory to Seller and Purchaser, but in no event shall the adjournment exceed sixty (60) days after the date for Closing set forth in Section 4.1 hereof. If any such objection is the result of a New Exception, Seller shall remove, satisfy or cure the same or, with respect to those New Exceptions that can be satisfied by paying determinable sums of money such as mortgages, judgment liens and mechanics' liens, to cause the Title Company to provide affirmative insurance reasonably satisfactory to Purchaser over same, and for this purpose Seller shall be entitled to a reasonable adjournment of the Closing if additional time is required to a date mutually satisfactory to Seller and Purchaser, but in no event shall the adjournment exceed sixty (60) days after the date for Closing set forth in Section 4. 1 hereof, provided that Seller shall not be entitled to an adjournment of Closing as a result of a New Exception that can be satisfied by paying determinable sums of money. If Seller elects not to cure any objections, except a New Exception, specified in Purchaser's notice, or if Seller is unable to effect a cure of same prior to the Closing (or any date to which the Closing has been adjourned), Purchaser shall have the following options: (i) to accept a conveyance of the Property subject to the Permitted Exceptions, specifically including any matter objected to by Purchaser which Seller is unwilling or unable to cure, and without reduction of the Purchase Price; or (ii) terminate this Agreement by sending written notice thereof to Seller, and upon delivery of such notice of termination, this Agreement shall terminate and the Xxxxxxx Money shall be returned to Purchaser, and thereafter neither party hereto shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survive...

New Exception has the meaning set forth in Section 6.18(c).

New Exception shall have the meaning set forth in Section 2.08(e) of this Agreement.

New Exception. Shall have the meaning given to it in Section 4.06.

New Exception has the meaning given to such term in Section 4.2 of this Agreement.