Major Defects Sample Clauses

Major Defects. “Major Defects” means conditions under which the Product is usable by BTE, with limited functions, but creates a manageable situation with respect to BTE’s business operations. The condition is not critical to overall BTE operations and does not severely restrict such operations.
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Major Defects. “Major Defects” means conditions under which the Product is usable by End User, with limited functions, but creates a manageable situation with respect to End User’s business operations. The condition is not critical to overall End User operations and does not severely restrict such operations.
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Major Defects. If Buyer properly gives notice of a Defect as permitted in Section 4.5(a) and if the Defect is a Major Defect, Seller, at Seller's option, may elect, by written notice to Buyer given within five (5) days of receipt of Buyer's notice of objection, to either (i) delete the Affected Property from the purchase or (ii) undertake to resolve the objection. If Seller elects to delete the Affected Property from the purchase, the Affected Property shall no longer be included in the Property and the Sales Price shall be reduced by the amount allocated to such Affected Property pursuant to Section 2.4 unless, within two (2) days of receipt of Seller's notice electing to exclude the Affected Property, Buyer advises Seller in writing that Buyer waives the Major Defect, in which case, the Affected Property shall not be excluded, the Sales Price shall not be reduced and the transaction will close as otherwise scheduled, with Buyer acquiring the Property subject to the Major Defect. If Seller elects to resolve the Major Defect, Seller shall promptly undertake and complete the cure of the Major Defect with due diligence, at Seller's expense. However, if the Major Defect has not been resolved by the Closing, Buyer, at Buyer's option, may elect by written notice to Seller and as Buyer's sole option, to delete the Affected Property from the purchase, whereupon the Affected Property shall no longer be included in the Property and the Sales Price shall be reduced by the amount allocated to such Affected Property pursuant to Section 2.4. If Buyer does not elect to delete the Affected Property from the purchase, then, the transaction shall close with no adjustment to the Sales Price and Seller will proceed to cure the Major Defect as if the Major Defect were within the coverage of Section 4.5(b), subject to Buyer's rights under Section 4.5(b) to complete the cure if Seller should fail to do so within the time period permitted under Section 4.5(b). Buyer agrees that, with respect to any Major Defect relating to a Title Report or Survey, such Major Defect will be deemed satisfactorily resolved if Seller provides a title policy endorsement to Buyer insuring over such Major Defect.
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Major Defects. To the actual knowledge of Seller's current officers and current managers directly responsible for management of the Building, there are no major defects in the Improvements on the Property, including without limitation all equipment, including the electrical wiring, roofing and systems for heating, ventilating, air conditioning and plumbing.
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Major Defects. A major defect is a can which does not show leakage but in the future may likely produce a leak. A major defect could cause failure to the package to the point that it is unacceptable to the consumer or result in an unacceptable condition of the container.
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Major Defects. Those defects that cause or could cause inconveniences or interruptions along the bottling lines; those defects that make the bottle unusable, illegal or unmarketable, and could cause breakage of accidents, or alteration of the product as a result of inadequate sealing. These include but are not limited to:
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Major Defects. In the event that Client notifies Evolutio of a Major Defect, Evolutio shall acknowledge such notification within twenty-four (24) hours during Support Hours. Evolutio shall investigate the Major Defect and shall, in its sole reasonable discretion, determine if a fix is warranted prior to a scheduled release. If a fix is warranted, Evolutio will provide an update to the Evolutio Products that corrects any major defect or provide a work around. If a fix is not warranted and Evolutio has assigned the Major Defect to a target release, Evolutio shall communicate the target release and expected time frame to Client.
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Related to Major Defects

  • Latent Defects Notwithstanding anything to the contrary set forth herein, no acceptance, or deemed acceptance, by City pursuant to this Section shall be applicable with respect to any Latent Defects. An acceptance, or deemed acceptance, by City pursuant to this Section shall not mean that City has accepted, or the other party has been relieved of, responsibility for: (i) compliance with the Laws; (ii) the proper application of construction means or methods; or (iii) correcting any portion of the Project if it later is determined that any portion of the Project is inconsistent with the Final Documents and Drawings.

  • Title Defects If: (i) the Title Commitment reflects any exceptions to title which are not acceptable to Buyer, in Buyer’s sole discretion; (ii) the Survey discloses any state of fact not acceptable to Buyer, in Buyer’s sole discretion; or (iii) at any time prior to the Closing, title to the Property is encumbered by any exception to title not acceptable to Buyer, in Buyer’s sole discretion (with any such exception or unacceptable state of fact being referred to herein as a “Title Defect”); then Buyer may, on or before the Satisfaction Date (or, in the case of a Title Defect not disclosed by the Title Commitment prior to the Satisfaction Date, within fifteen (15) days after Buyer receives notice of such Title Defect), provide Seller with written notice of such Title Defect. Seller shall have the right, but not the obligation (except as specifically set forth below), during the thirty (30) day period after receipt of such notice, but not later than the Closing, to remove such Title Defect or obtain affirmative title insurance coverage acceptable to Buyer, insuring and defending Buyer against any loss, cost, or expense arising out of or related to such Title Defect (“Affirmative Coverage”). If Seller elects to do so, then on or before the Closing Date (as defined below), Seller shall provide Buyer with reasonable evidence of such removal or provide reasonable evidence that such Title Defect will be removed or that such Affirmative Coverage will be obtained. Notwithstanding anything contained herein to the contrary, Seller shall be obligated to expend whatever sums are required to cure or obtain Affirmative Coverage for the following Title Defects prior to, or at, the Closing:

  • Correction of Defects 35.1 The Engineer shall give notice to the Contractor of any Defects before the end of the Defects Liability Period, which begins at Completion and is defined in the Contract Data. The Defects Liability Period shall be extended for as long as Defects remain to be corrected.

  • Environmental Defects For purposes of this Agreement, the term “Environmental Defect” means, with respect to any given Asset, an individual environmental condition identified with specificity in Buyer’s Environmental Review that constitutes a material violation of Environmental Laws in effect as of the date of this Agreement in the jurisdiction in which the affected Asset is located, excluding, however any environmental conditions deemed not to be Environmental Defects by application of Section 5.04(c).

  • REMEDY OF DEFECTS (a) The BUILDER shall remedy, at its expense, any Defect against which the VESSEL is guaranteed under this Article, by making all necessary repairs or replacements at the Shipyard.

  • Title Defect (a) In the event Seller receives notice of any Survey Objection or Title Objection (collectively and individually a “Title Defect”) within the time periods required under Sections 6.1 and 6.2 above, Seller may elect (but shall not be obligated) to attempt to remove, or cause to be removed at its expense, any such Title Defect, and shall provide Purchaser with notice within five (5) days of its receipt of any such objection, of its intention to attempt to cure such any such Title Defect. If Seller elects to attempt to cure any Title Defect, the Scheduled Closing Date shall be extended for a period of twenty (20) days for the purpose of such removal. In the event that (i) Seller elects not to attempt to cure any such Title Defect, or (ii) Seller is unable to cure any such Title Defect within such twenty (20) days from the Scheduled Closing Date, Seller shall so notify Purchaser and Purchaser shall have the right to terminate this Agreement pursuant to this Section 6.3(a) and receive a refund of the Xxxxxxx Money Deposit, together with all interest which has accrued thereon, or to waive such Title Defect and proceed to the Closing. Purchaser shall make such election by written notice to Seller within three (3) days after receipt of Seller’s notice. If Seller has elected to cure a Title Defect and thereafter fails to timely cure such Title Defect, and Purchaser elects to terminate this Agreement, then (i) Seller shall reimburse Purchaser for its reasonable out-of-pocket costs and expenses payable to third parties in connection with this transaction incurred after the date on which Seller informed Purchaser of its election to cure the Title Defect, not to exceed the Reimbursement Cap, and (ii) Purchaser shall promptly return Purchaser’s Information to Seller, after which neither party shall have any further obligation to the other under this Agreement except for the Termination Surviving Obligations. If Purchaser elects to proceed to the Closing, any Title Defects waived by Purchaser shall be deemed to constitute Permitted Exceptions, and there shall be no reduction in the Purchase Price. If, within the three-day period, Purchaser fails to notify Seller of Purchaser’s election to terminate, then Purchaser shall be deemed to have waived the Title Defect and to have elected to proceed to the Closing.

  • Defects a. The Customer shall inspect the Goods upon delivery and will, within 48 hours, notify the Company of any defects, short deliveries or any failure to fulfill any quotation or order.

  • Notice of Environmental Defects If Buyer discovers any alleged Environmental Defect affecting the Assets, Buyer shall promptly notify Seller of such alleged Environmental Defect. To be effective, such notice (an “Environmental Defect Notice”) must (a) be in writing, (b) be received by Seller prior to the expiration of the Examination Period, (c) describe the Environmental Defect in reasonable detail, including (i) the written conclusion of Buyer that an Environmental Defect exists, and (ii) a citation of the Environmental Laws alleged to be violated and a summary of the related facts that substantiate such violation, (d) identify the specific Assets affected by such Environmental Defect, (e) the procedures recommended to correct the Environmental Defect and (f) Buyer’s reasonable good faith estimate of the Environmental Defect Value, for which Buyer would agree to adjust the Purchase Price in order to accept such Environmental Defect if Seller elected Section 7.4(c) as the remedy therefor. Any matters that may otherwise constitute Environmental Defects, but of which Seller has not been specifically notified by Buyer in accordance with the foregoing, together with any environmental matter that does not constitute an Environmental Defect, shall, be deemed to have been waived by Buyer for all purposes and constitute an assumed obligation of Buyer at Closing. Upon receipt of a timely Environmental Defect Notice, upon request by Seller, Buyer shall promptly deliver to Seller copies of all data, records, reports, opinions and other information in Buyer’s possession or control bearing upon or relating to the alleged Environmental Defect and its determination of the Environmental Defect Value, including, without limitation, site plans showing the location of sampling events, boring logs and other field notes describing the sampling methods utilized and the field conditions observed, chain of custody documentation and laboratory reports.

  • Casualty Losses In the event that more than twenty-five (25%) of the square footage of the demised premises is damaged, destroyed, or rendered untenantable by fire or other casualty, Landlord may elect to terminate this lease by giving notice of such election to Tenant on or before the day which is ninety (90) days after such fire or other casualty, stating the date of termination, which termination shall be not more than thirty (30) days nor less than twenty-one (21) days after the date on which such notice of termination shall have been given; and (1) upon the date specified in such notice this lease and the term hereof shall cease and expire; and (2) any fixed annual rent and additional rent paid for a period after such date of termination shall be refunded to Tenant upon demand. If the leased premises are damaged or destroyed in whole or in part by fire or other casualty and the Tenant(s) do not want to terminate the lease, then the obligations of Tenant to pay fixed rent and to perform all of the other covenants and agreements on the part of Tenant to be performed pursuant to this shall not be diminished or affected.

  • Casualty Loss If in Owner’s reasonable judgment the premises or the Property is materially damaged by fire or other casualty, Owner may terminate this Agreement within a reasonable time after such determination, by written notice to Resident, in which case Owner will refund prorated, pre-paid rent and all deposits less lawful deductions unless Resident and/or Resident’s guest(s) caused the casualty, in which case all funds on account will be applied to all applicable charges related to the damages and Resident will be responsible for the balance of all charges for repairs. If following a fire or other casualty Owner has not elected to terminate this Agreement, Owner will rebuild the damaged areas within a reasonable time, and during such reconstruction, Resident will be provided a reasonable rent reduction for the unusable portion of the premises unless Resident and/or Resident’s guest(s) caused the casualty.

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