Taking Notice definition

Taking Notice has the meaning ascribed to such term in Section 9.3.

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Taking Notice means the rule in the law of evidence that allows a fact to be introduced into evidence as if it is the truth (for example, a scientific fact that is well known or accepted in the medical community as standard of care). This would be an “evidentiary notice” determined by the committee.

Taking Notice shall have the meaning set forth in Section 8.2 hereof.

Examples of Taking Notice in a sentence

• If at any time prior to the Closing Date: a Taking affects all or any part of the Property, or if any proceeding for a Taking is commenced, or if notice of the contemplated commencement of a Taking is given, Seller shall promptly give written notice ("Taking Notice") thereof to Buyer.

• Buyer shall have the right, at its sole option, of terminating this Agreement by written notice to Seller within thirty (30) days after receipt by Buyer of the Taking Notice.

• If a Taking Notice is given to Buyer less than thirty (30) days prior to Closing, at Buyer's option Closing shall be postponed to a date not later than thirty (30) days after Buyer's receipt of the Taking Notice.

• If a taking by eminent domain of a material part of the Property (as hereinafter defined) shall be made after the date hereof and prior to the Closing then Seller shall promptly notify Buyer of the same (the “Taking Notice”), and Buyer shall have the right to terminate this Agreement by notice from Buyer to Seller and Escrow Agent given before the date that is the earlier to occur of (a) ten (10) days after the date of the Taking Notice and (b) the Closing.

• In the event such condemnation is Material (as defined below) but not a total taking as set forth in Section 11.1.1 above, Purchaser shall have the right to terminate this Agreement by notice to Seller given on or before the date that is the earlier to occur of (a) ten (10) days after the date of the Taking Notice and (b) the Closing.

• Contributee shall have the right, at its sole option, of terminating this Agreement by written notice to Contributor within thirty (30) days after receipt by Contributee of the Taking Notice.

• In the event that, prior to Closing, all or any portion of the Property shall be condemned or taken as the result of the exercise of the power of eminent domain, or by deed in lieu thereof (collectively, a "Taking"), or if such proceedings shall have commenced or shall be threatened, Seller promptly shall notify Purchaser ("Taking Notice").

• If a Taking Notice is given to Buyer less than ten (10) days prior to Closing, at Buyer's option Closing shall be postponed to a date not earlier than ten (10) days after Buyer's receipt of the Taking Notice.

• Buyer may terminate this Agreement with respect to any affected Property by written notice to the other given not later than fifteen (15) business days after receipt of the Taking Notice and the provisions of Section 33 shall apply.

• Within ten (10) business days after Buyer’s receipt of the Taking Notice, Buyer may elect, in its sole discretion, to either (i) purchase the Property subject to such taking without a reduction in the Purchase Price or (ii) exclude the Property from the assets to be purchased hereunder with a reduction in the Purchase Price equal to the amount set forth on Exhibit C allocated to such Property.

More Definitions of Taking Notice

Taking Notice has the meaning set forth in Section 9.02.

Taking Notice shall have the meaning ascribed in Section 10.2.3.