Objectionable Conditions definition
Examples of Objectionable Conditions in a sentence
If such Survey discloses any matters that, in the absolute discretion of Purchaser, render the Property not suitable for purchase, and Purchaser notifies Seller that Purchaser has determined such matters to be "Objectionable Conditions" (as defined in Paragraph 4(b) below), then Seller may elect to, but shall not be obligated to, cure such Objectionable Conditions as provided in Paragraph 4(c), or Purchaser may exercise any of the remedies provided in Paragraph 4(d).
If such title commitment discloses any matters that, in the absolute discretion of Purchaser, render the Property not suitable for purchase, and Purchaser notifies Seller that Purchaser has determined such matters to be Objectionable Conditions, then Seller may cure such Objectionable Conditions as provided in Paragraph 4(c), or Purchaser may exercise any of the remedies provided in Paragraph 4(d).
Seller shall not be responsible for the cost to remedy Objectionable Conditions less than $150,000, and, solely with respect to Objectionable Conditions that arise or are discovered after the Due Diligence Completion Date, Buyer shall not be entitled to terminate this Agreement and must proceed to Closing if it is not a Major Objectionable Condition or Seller agrees to provide Buyer a credit at Closing for Seller’s Cost Regarding Major Objectionable Condition.
If the aggregate cost to cure the Major Objectionable Conditions is greater than $300,000, Seller shall notify Buyer within five (5) days of Buyer’s notification whether it will attempt to cure the Major Objectionable Conditions.
If Purchaser does not accept any one or more of the Due Diligence Conditions, then Purchaser shall deliver written notice to Seller on or before the expiration of the Due Diligence Period of any such Due Diligence Conditions determined by Purchaser to be objectionable conditions (the "Objectionable Conditions").
If Buyer fails to notify Seller it elects to so terminate this Agreement, Buyer shall be deemed to have waived such Major Objectionable Conditions.
If there are Major Objectionable Conditions for which Buyer obtains a credit at Closing in the amount of or in satisfaction of Seller’s Cost Regarding Major Objectionable Conditions, Buyer shall be responsible at its sole cost and expense for performing any work needed to cure the Major Objectionable Conditions at Buyer’s sole cost and expense.