Zoning Defect definition

Zoning Defect means the failure of a Property to be in compliance with federal, state or local laws, rules, regulations or ordinances relating to zoning or land-use matters, including, without limitation, the ability of an owner or occupant of a Property to develop and make a particular use of same; provided, however, that a Property shall not have a Zoning Defect if the improvements (or proposed improvements) thereon and/or use thereof is the subject of a conditional use permit or variance permitting same and the conditions to any such conditional use permit or variance are currently satisfied.
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Examples of Zoning Defect in a sentence

  • The Buyer's failure to deliver to the Seller on or prior to the close of the Diligence Period a Defect Letter shall be deemed conclusively as the Buyer's confirmation of the absence of any Material Adverse Matters, and the Buyer shall be deemed to be satisfied with, and to have waived objection to, any Code Defect, Environmental Defect, Structural Defect, Title Defect or Zoning Defect other than those specifically set forth in a Defect Letter and other than as contemplated in Sections 4.3 and 4.4.

  • Nothing herein shall prohibit the Buyer from raising an Environmental Defect, a Title Defect, a Code Defect, a Zoning Defect or a Structural Defect with respect to the Disclosure Items.

  • If Purchaser, in good faith, determines that there is a Material Environmental Defect or a Material Zoning Defect, then, subject to the provisions of this Section 4.1, Purchaser may terminate this Agreement on notice to Seller given within the Due Diligence Period accompanied by a detailed statement disclosing the basis upon which Purchaser determined that a Material Environmental Defect or a Material Zoning Defect exists (the “Termination Notice”).