Survey Defect definition

Survey Defect as defined in Section 6.11(c).

Survey Defect means any title defect, exception, restriction, easement, right of way, encumbrance, encroachment and other matter affecting title to any of the Real Property listed on Schedule 1.1(c) shown on any new surveys obtained by the Buyer (the “Surveys”) that materially detracts from the value of or materially interferes with the present use of any such Real Property but does not include any of the foregoing that was shown on any existing survey provided to the Buyer by the Seller or any of the InterfaceFABRIC Companies or referred to in the Title Commitments.

Survey Defect shall have the meaning set forth in Section 6.2(b).

Examples of Survey Defect in a sentence

• In the event Seller is unwilling or unable to clear the Survey Defects on or before the Survey Defect Cure Date, Buyer shall have the option, in its sole discretion, to (i) proceed with the purchase and acquire the Property subject to the Survey Defects, in which case the Survey Defects are deemed approved; or (ii) terminate this Agreement, in which case the Earnest Money will be refunded to Buyer.

• The Special Rapporteur was informed that the European Union has provided funding for the creation of a national environment agency, but that no such agency has yet been created.

• If Seller does not provide a New Title and Survey Election Notice to Purchaser within such time period, then Seller shall be deemed to have elected not to remove or cure such New Title Exception or New Survey Defect as an Unpermitted Exception pursuant to clause (2) of the preceding sentence.

• If the latter, qualify the form of Solicitor’s Opinion, to confirm the Mortgagee’s acceptance of the potential Survey Defect.

• The Seller shall have thirty (30) days, or such later date as may be mutually agreed upon by the parties, from the date of receipt of the Survey Notice (the "Survey Defects Removal Date") to have the Survey Defects removed from the Surveys or to have the Title Company commit to insure against any and all loss or damage that may be occasioned by any such Survey Defect.

More Definitions of Survey Defect

Survey Defect has the meaning set forth in Section 5(h)(iii). "Surviving Corporation" has the meaning set forth in Section 2(a). "SWDA" has the meaning set forth in Section 3(y)(iii). "Tax" means any federal, state, local, or foreign income, gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, environmental (including taxes under Code Sec. 59A), customs duties, capital stock, franchise, profits, withholding, social security (or similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, value added, alternative or add-on minimum, estimated, or other tax of any kind whatsoever, including interest, penalty, or additions thereto, whether disputed or not, and whether or not accrued on the Financial Statements. "Tax Return" means any return, declaration, report, claim for refund, or information return or statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof. "Third Party Claim" has the meaning set forth in Section 8(d)(i). "Title Company" has the meaning set forth in Section 5(h)(i). "Title Policy" has the meaning set forth in Section 5(h)(i). "Unpermitted Exception" has the meaning set forth in Section 5(h)(iii).

Survey Defect means an encroachment from or onto any of the Real Property or any portion thereof or any other survey defect, other than a Permitted Lien, and which in any such case results or would reasonably be expected to result in a Material Adverse Effect. Buyer shall pay all fees, costs and expenses with respect to the Surveys.

Survey Defect means any encroachment over a boundary or into a required yard or any other circumstance relating to the location of structures or improvements on the Land or

Survey Defect has the meaning set forth in '5(i)(iii) below.

Survey Defect shall have the meaning set forth in Section 6(b) of this Agreement.

Survey Defect means any matter disclosed on a Survey that would, or would reasonably be expected to, materially interfere with the present or continued use of any parcel of Real Property or have a Material Adverse Effect on the value of any parcel of Real Property.

Survey Defect shall have the meaning set forth in Section 3.1(c)(iii) hereof. "Tax, Insurance and Ground Rents Escrow Account" shall have the meaning set forth in Section 9.3.1 hereof.