Noted Exception definition
Examples of Noted Exception in a sentence
Noted Exception: Contracts under $10,000 between the local board and either a relative (as defined in s.
Seller may, within two business days after Purchaser gives such notice of objection to a Noted Exception (such two business day period being called the “Response Period”), give Purchaser written notice that Seller will cure or use commercially reasonable efforts to cure such Noted Exception at or prior to Closing, in which event Seller will cure or use commercially reasonable efforts to cure such Noted Exception at or prior to Closing.
However, if any Noted Exception cannot be removed, and the failure to remove the same does not constitute a Material Adverse Effect, such failure shall not be deemed to have a Material Adverse Effect that would cause the condition set forth in Section 7.02(e) not to be satisfied.
Seller shall inform Buyer within fifteen (15) days from receipt of such notice if Seller will cure such NI Noted Exceptions or obtain an endorsement for additional title insurance or indemnification that satisfies such NI Noted Exception.
Seller shall inform Buyer within fifteen (15) days from receipt of such notice if Seller will cure such Noted Exceptions or obtain an endorsement for additional title insurance or indemnification that satisfies such Noted Exception; provided that Seller shall reasonably cooperate with Buyer and Seller shall use commercially reasonable efforts to remove all Noted Exceptions, obtain any additional endorsements, and/or update the Title Commitments.