Permitted Exception Clause Samples

Permitted Exception. Employee shall be permitted without violating Sections 2(b), 2(d), 12(c), or 12(d) of this Agreement to make passive personal investments in securities that are registered on a national stock exchange if the aggregate amount owned by him and all family members and Affiliates does not exceed 2% of such company’s outstanding securities as long as (i) these activities do not prevent Employee from fulfilling his duties, responsibilities, and authorities under this Agreement, and (ii) Employee fully complies with his otherwise applicable obligations under this Agreement.

Permitted Exception. A defect of title, regardless of its disposition under this Section, shall not result in a reduction of the Purchase Price.

Permitted Exception. Notwithstanding the foregoing, Purchaser acknowledges the residential tenancy on the Owned Property pursuant to that certain Residential-Lease Agreement dated December 12, 2022 (the “Residential Lease”) and such Residential Lease is hereby deemed a Permitted Exception. Ceres Farms delivered notice of termination of the Residential Lease on April 4, 2023 and it shall terminate on or before December 31, 2023.

Permitted Exception. Notwithstanding the foregoing provisions of this section, Provider shall be permitted to (i) own up to five percent of the publicly-traded securities, registered under Section 12 or 15(d) of the Securities Exchange Act of 1934, of any competitor of Recipient, and (ii) continue to own an interest in and fully participate in the business of Recipient and any other wholly-owned or partially-owned subsidiary of Provider in which Provider owned an interest or in whose business Provider participated, in both cases at the time of the expiration or termination of this Agreement, provided, however, that such ownership and participation was not in violation of this Agreement.

Permitted Exception. Account shall have the right to make available for sale freshly brewed coffee, freshly brewed tea and sno cones served in cups bearing the trademarks of Beanstalk Coffee and Sno at the existing Beanstalk Coffee and Sno location so long as Competitive Products at such location are limited solely to freshly brewed coffee, freshly brewed teas and sno cones. In addition, Account will ensure that Beanstalk Coffee and Sno makes available for purchase Bottler’s Products at such location. Account agrees that this Section shall not be read to allow advertising or promotional rights with respect to such Competitive Products except that the names, logos, or trademarks of Beanstalk Coffee and Sno may be displayed on menu boards, on dispensing equipment, branded paper cups, cup sleeves and similar dis- posable branded items provided in the course of the sale and service of freshly brewed coffee freshly brewed tea and sno cones.

Permitted Exception. The provisions of Clause 29.1(b) shall not apply to any credit balance (in whatever currency denominated) held by a Bank at the Enforcement Date to the extent that it is capable of being set off against any accrued liability to that Bank at the Enforcement Date, where:-

Permitted Exception. If Seller fails to respond, within the time set forth above, to any objection to Title Defects timely delivered by Buyer as set forth above, Seller shall be deemed to have elected to cure the Title Defects at issue. If Seller elects to take no action with respect to one or more Title Defects that in the aggregate would constitute a Business Material Adverse Effect, Buyer may terminate this Agreement within 10 days of notice of such election.

Permitted Exception. Any item contained in the Title Report to which Buyer does not so object shall be deemed a “Permitted Exception”.

Permitted Exception. If Buyer gives written notice of any Objections, Seller shall, not more than five (5) business days after its receipt of Buyer's written Objections, advise Buyer which Objections Seller intends to cure. Seller hereby acknowledges and agrees that it shall use its good faith efforts to cure any Objections relating to the payment of liens or encumbrances created by Seller, and may, but shall have no obligation to cure Objections based on matters other than Seller created liens or encumbrances. Seller's lack of response shall be deemed Seller's decision not to cure the Objections. Buyer hereby objects to any deed of trust, mechanics or similar lien filed against the Property and, to the extent such encumbrances were created by or as a result of Seller's acts, Seller agrees to cause such encumbrances to be released by Seller or Seller's lender's at or prior to Closing. If Seller elects to not cure one or more Objections before Close of Escrow, Buyer shall, within five (5) business days after its receipt of such notice, notify Seller of Buyer's election to either (i) terminate this Agreement effective upon giving written notice thereof to Seller and the Title Company and thereupon, Buyer shall be entitled to the return of the Deposit and this Agreement and all obligations hereunder shall thereupon terminate, except those which expressly survive termination; or (ii) waive the Objections Seller has elected not to cure and consummate the purchase of the Property subject to such Objections, which shall be included within the Permitted Exceptions without any abatement or reduction of the Purchase Price.