Standard Exceptions definition

Standard Exceptions means the preprinted title exceptions appearing on the Title Commitments for (a) matters that would be disclosed by a survey, (b) easements or claims of easements not shown by the public records, (c) any unfiled mechanic’s or materialmen’s lien, and (d) rights or claims of parties in possession not shown by the public records.

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Standard Exceptions has the meaning set forth in Section 5.2.

Standard Exceptions means general exceptions for survey matters, unrecorded easements, mechanics’ liens, unrecorded liens for taxes and assessments and rights of parties in possession.

Examples of Standard Exceptions in a sentence

• This Agreement has been duly executed and delivered by Purchaser and constitutes the valid and binding obligation of Purchaser enforceable against it in accordance with its terms, except as may be limited by the Standard Exceptions to Enforceability.

• SELLER shall provide to BUYER at Closing an Owner’s Title Insurance Policy insuring that the title to the property is marketable, subject only to the Standard Exceptions of the title insurance policy, taxes for the year of closing, public utilities and subdivision restrictions that do not effect marketability of title, and encumbrances of record that are to be assumed by BUYER as part of the Purchase Price.

• Any endorsements, beyond the pre-printed Standard Exceptions or in addition to those resulting from Title Defects, requested by Purchaser shall be paid for by Purchaser.

• At Closing, Seller shall cause the Title Company to issue, or unconditionally commit to issue at Seller's expense, to Purchaser or Purchaser's designee, its standard form owner's policy of title insurance insuring marketable, insurable title to the Lot(s) in the amount of the Purchase Price, deleting the pre-printed Standard Exceptions, but subject to the Permitted Exceptions (the "Title Policy").

• Subject to the entry and effectiveness of the Sale Order, this Agreement has been duly and validly executed and delivered by each of Sellers and (assuming this Agreement constitutes a valid and binding agreement of Purchaser) constitutes a valid and binding agreement of each of Sellers, enforceable against each of Sellers in accordance with its terms, except as to the effect, if any, of the Standard Exceptions to Enforceability.

• The Company has a valid, binding and enforceable leasehold interest under each of the Real Property Leases, subject to Standard Exceptions.

• This Agreement and the other Transaction Documents have been duly and validly executed and delivered by the Company and constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, subject to Standard Exceptions.

• This Agreement and each Transaction Document to which Purchaser is or will be a party has been or will be duly and validly executed and delivered and constitutes the valid and legally binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject to the Standard Exceptions.

• The Transaction Documents, when delivered in accordance with the terms hereof, assuming the due execution and delivery of this Agreement and each such other document by the other Parties hereto and thereto, will have been duly executed and delivered by the Purchaser and will be valid and binding obligations of the Purchaser, enforceable against it in accordance with their respective terms subject to Standard Exceptions.

• As of the date of this Agreement, each of the Gramercy Material Contracts to which Kaiser is a party is, in all material respects, a valid and binding obligation of Kaiser enforceable against Kaiser in accordance with its terms, subject to the Standard Exceptions.

More Definitions of Standard Exceptions

Standard Exceptions are boilerplate exceptions included on every title commitment in Florida (although the specific language may vary from Title Company to Title Company) and are as follows:

Standard Exceptions means: (i) liens of real estate taxes, assessments, water and sewer rates and charges, and any other governmental or quasi-governmental taxes, charges or assessments levied or assessed against the Property, which are not yet due and payable, (ii) any and all state, city, county or Federal present and future laws, rules, regulations, statutes, ordinances, orders, special permits, building codes, approvals or other legal requirements affecting the Property, including without limitation, those relating to zoning and land use, (iii) all matters set forth in the Title Commitment and waived by the Purchaser or deemed to be waived by the Purchaser as provided hereinabove, (iv) the standard printed exclusions contained in an ALTA form of title insurance policy, unless the Purchaser obtains, at its sole cost, expense and risk, endorsements to the title insurance policy which exclude any such standard printed exclusions, (v) the Leases, and (vi) any title exception created by any act or omission of the Purchaser or its representatives, agents, employees or invitees.

Standard Exceptions shall have the meaning set forth in Section 3.4(c).

Standard Exceptions has the meaning set forth in Section 3.10(b). “Stockholder Representative” has the meaning set forth in Section 6.06(b). “Subsequent CedarStone Financial Statements” has the meaning set forth in Section 5.11. “Subsidiary” when used with respect to any Person, means any corporation, partnership, limited liability company, bank, savings association, savings bank, or other organization, whether incorporated or unincorporated, or Person of which (i) such first Person directly or indirectly owns or controls at least a majority of the securities or other interests having by their terms ordinary voting power to elect a majority of the board of directors or others performing similar functions or (iii) such first Persons is or directly or indirectly has the power to appoint a general partner, manager, or managing member or others performing similar functions. “Superior Proposal” has the meaning set forth in Section 5.06(f). “Surviving Corporation” has the meaning set forth in Section 1.01. “Tax Claim” has the meaning set forth in Section 6.06(b). “Tax Proceeding” has the meaning set forth in Section 6.06(b). “TBCA” has the meaning set forth in Section 1.01. “TDR” has the meaning set forth in Section 3.11(a) “Terminated Contracts” has the meaning set forth in Section 5.21. “Transaction Litigation” has the meaning set forth in Section 6.04(e). “Termination Fee” has the meaning set forth in Section 8.02(a). “Unpermitted Exceptions” has the meaning set forth in Section 3.10(b). “VEBA” has the meaning set forth in Section 3.14(f). EXHIBIT 1.03 EXHIBIT 1.03 BANK MERGER AGREEMENT (See attached)

Standard Exceptions is defined in Section 3.2 of this Agreement.

Standard Exceptions will be deleted and the Seller will furnish the customary affidavit.