Permitted Exceptions definition

Permitted Exceptions shall have the meaning set forth in Section 4.3.
Permitted Exceptions has the meaning ascribed to such term in Section 6.2(a).
Permitted Exceptions shall have the meaning set forth in Section 5.1.

Examples of Permitted Exceptions in a sentence

  • Seller shall duly execute, acknowledge (as applicable) and deliver (or cause to be delivered) the following documents to Escrow Agent at Closing, each in form attached to this Agreement or, if not attached to this Agreement, in form and substance reasonably satisfactory to Purchaser and Seller: (a) A Grant Deed with respect to the Land and the Improvements in the form of Exhibit C to this Agreement (“Deed”), subject only to the Permitted Exceptions.

  • At Closing, Purchaser shall accept title to the Land and Improvements, subject only to the Permitted Exceptions.

  • Title Company shall be irrevocably committed to issue the Owner’s Title Policy, subject only to the Permitted Exceptions.


More Definitions of Permitted Exceptions

Permitted Exceptions means the following:
Permitted Exceptions means, collectively, (a) liens for taxes, assessments and governmental charges not yet due and payable or due and payable but not yet delinquent; (b) the Leases; (c) the exceptions to title set forth in the Existing Title Policy; (d) all matters shown on the Existing Survey, and (e) such other nonmonetary encumbrances with respect to the Property as may be shown on the Update which are not objected to by the Purchaser (or which are objected to, and subsequently waived, by the Purchaser) in accordance with Section 3.1.
Permitted Exceptions means and include all of the following: (a) the lien of taxes and assessments not yet due and payable (it being agreed by BKP and Contributor that if any tax or assessment is levied or assessed with respect to the Property after the Effective Date and the owner of the Property has the election to pay such tax or assessment either immediately or under a payment plan with interest, Contributor may elect to pay under a payment plan, which election shall be binding on BKP provided that Contributor shall pay at or prior to closing any installment due prior to the Closing Date); (b) any exclusions from coverage set forth in the jacket in the form of owner’s policy of title insurance used by the Title Company, it being agreed that Contributor shall deliver a title affidavit in the form attached hereto as Exhibit 10.3(o) to permit the Title Company to omit or modify certain of such exclusions; (c) any exceptions caused by BKP, its agents, representatives or employees; (d) any matters deemed to constitute Permitted Exceptions under ARTICLE VI hereof; (e) matters disclosed or described on the Survey; (f) title defects and encumbrances to title that are listed on Exhibit 1.1(B); (g) such other exceptions as the Title Company shall commit to insure over with BKP’s consent, not to be unreasonably withheld, delayed or conditioned, without any additional cost to BKP, whether such insurance is made available in consideration of payment, bonding, indemnity of Contributor or otherwise; (h) any recorded notices of commencement related to on-going construction build-out of any Tenant spaces pursuant to the terms of the Leases (provided the same are shown on the Title Commitment or any update thereof), and any mechanic’s liens filed with respect to work at the Property performed by or for (other than by Contributor or any its agents or representatives) any of the Tenants and which the Tenant in question remains obligated to pay and discharge in full at its sole cost and expense; provided, however, that Contributor shall use its commercially reasonable efforts to enforce the terms of the applicable Leases and require any such Tenants to post bonds over such liens, and Contributor shall cause such bonds to be filed in the Kings County clerk’s office or such appropriate place of filing, on or prior to the Closing; (i) the Leases and the Assumed Contracts; (j) any state of facts a physical inspection of the Property would disclose as of the Effective Date; and (k) local, state and...
Permitted Exceptions means:
Permitted Exceptions has the meaning set forth in Section 2.3.
Permitted Exceptions as used in this Agreement, shall mean (i) the title exceptions listed in Schedule B of the Title Commitment, (ii) any general exceptions and exclusions contained in the standard owner’s policy of the Title Company that are not deleted pursuant to the Owner’s Affidavit, (iii) all title matters of record as of the Closing Date, and (iv) all taxes not yet due and payable.
Permitted Exceptions means (i) Liens for current real estate taxes or assessments which are not yet due and payable, or are due and payable but not yet delinquent, or that are being contested in good faith by appropriate proceedings, (ii) any exceptions to title approved or waived by the Buyer in accordance with this Agreement, (iii) customary utility easements which (A) do not encroach any buildings or other improvements located at the applicable Property, (B) are within and do not violate any setback requirements or restrictions or Applicable Laws, and (C) do not materially and adversely impact the current use or value of the applicable Property, (iv) the rights of Tenants, as tenants only, pursuant to Leases, (v) any matters created or caused by the Buyer, and (vi) Liens arising out of, under or permitted in connection with this Agreement or the Closing Documents.