Removable Exceptions definition

Removable Exceptions means title exceptions pertaining to liens or encumbrances of a definite or ascertainable amount that will be removed by the payment of money on the Closing Date.
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Removable Exceptions means (x) Disclosed Exceptions or New Disclosed Exceptions that can be removed by payment of a liquidated, ascertainable sum of money and the aggregate cost to remove all such Disclosed Exceptions or New Disclosed Exceptions does not exceed $5,000, (y) any mortgages or deed of trusts encumbering the Real Property that were granted by Seller, or (z) mechanic's liens with respect to work contracted for by Seller or its authorized agents and such mechanic's liens do not relate to, are attributable to or arise in connection with any Service Contracts to be assumed by the Purchaser at Closing.
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Examples of Removable Exceptions in a sentence

  • If the Title Commitments disclose exceptions to title other than Permitted Exceptions and Removable Exceptions (“Unpermitted Exceptions”) or the Surveys disclose matters that, in the reasonable judgment of Purchasers, render the title of the Real Property uninsurable, unmarketable or unable to be financed, or adversely affect the use of the Real Property as a skilled nursing facility (“Survey Defects”), Purchasers shall notify Sellers on or before the conclusion of the Due Diligence Period.

  • On the Closing Date, Seller shall be responsible for the cost of recording fees for the Removable Exceptions (as hereinafter defined) and Survey Defects (as hereinafter defined) which Seller is obligated or agreed to correct per Section 9(d).

  • Copies of any payoff letters or releases with respect to any Removable Exceptions and any other mortgage secured by the Property.

  • Not less than five (5) business days prior to the Closing Date, as hereinafter defined, Seller shall furnish to Purchaser a current date down of the Commitment limited to the Premises, in the amount of the Purchase Price showing title in fee simple in Seller and subject only to the Permitted Exceptions and the Removable Exceptions, the latter of which shall be removed by Seller at the Closing.

  • Seller shall exercise commercially reasonable efforts (which shall not require the institution of litigation or any other legal proceeding) in removing any Removable Exceptions (hereinafter defined) and any Exceptions that Seller elects to remove at Seller’s cost pursuant to this Section 13.

  • If the Closing is delayed by Seller beyond the specified Closing Date, then the rescheduled Closing Date shall occur no sooner than five (5) business days after the date of Seller’s notice to Purchaser stating that Seller has removed, satisfied or cured the Removable Exceptions.

  • Seller shall have until the Closing Date to attempt to remove, satisfy or cure the Removable Exceptions and for this purpose Seller shall be entitled to a reasonable adjournment of the Closing if additional time is required, but in no event shall the adjournment exceed sixty (60) days after the date specified for the Closing Date in Section 2.01 hereof.

  • Seller shall exercise due diligence in removing any Removable Exceptions and any Exceptions that Seller elects to remove pursuant to this Section 9; provided, however, that Seller shall be entitled to one (1) or more adjournments of the Closing for a period of time not to exceed sixty (60) days in the aggregate in order to remove any Removable Exceptions or any Exceptions that Seller elects to remove pursuant to this Section 9.

  • Seller shall exercise commercially reasonable efforts in removing any Removable Exceptions (hereinafter defined) and any Exceptions that Seller elects to remove at Seller’s cost pursuant to this Section 13.

Related to Removable Exceptions

  • Permitted Title Exceptions means those exceptions to title to the Real Property that are satisfactory or deemed satisfactory to Purchaser as determined pursuant to Section 2.4(e) hereof.

  • Equitable Exceptions means, with respect to the enforceability of any obligation, that such obligation is subject to (a) applicable bankruptcy, insolvency, moratorium, receivership, assignment for the benefit of creditors or other similar state or federal laws affecting the rights and remedies of creditors generally (including, without limitation, fraudulent conveyance or transfer laws) and judicially developed doctrines in this area, such as equitable subordination and substantive consolidation of entities and (b) equitable principles (whether considered in a proceeding in equity or at law).

  • Tenant’s Personal Property means all motor vehicles, Inventories, FAS and any other tangible personal property of Tenant, if any, acquired by Tenant at its election and with its own funds on and after the date hereof and located at the Leased Property or used in Tenant's business at the Leased Property and all modifications, replacements, alterations and additions to such personal property installed at the expense of Tenant, other than any items included within the definition of Proprietary Information.

  • Excluded Personal Property has the meaning set forth in Section 2.2(c).

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.