Common use of Removal of New Exceptions Clause in Contracts

Removal of New Exceptions. As used in this Agreement, “Remove” shall mean that Hersha Owner in its discretion will either (i) take such actions as are necessary to eliminate (of record or otherwise, as appropriate) the New Exception, (ii) cause the Title Company to remove the New Exception as an exception to the owner’s policy of title insurance and affirmatively insure against the same in form and content acceptable to Owner JV, whether such insurance is made available in consideration of payment, bonding, indemnity of Hersha 21