Asserted Defects definition

Asserted Defects shall have the meaning assigned to such term in Section 7.1.
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Asserted Defects mean Asserted Title Defects and Asserted Environmental Defects, collectively.
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Asserted Defects shall have the meaning assigned to such term in Section 7.1. “Bank” is defined in Section 3.2.
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Examples of Asserted Defects in a sentence

  • Notwithstanding any such election to postpone Closing, Seller shall still have no obligation to cure Asserted Defects.

  • Seller may (but shall have no obligation to) attempt to cure, prior to Closing, one or more Asserted Defects.

  • Notwithstanding any other election made under this Section (without limitation, it being expressly recognized that Seller may attempt to cure Asserted Defects while acting under this election), Seller may elect to have one or more Asserted Defects handled under Section 7 below.

  • Such Defects of which Buyer so provides notice are herein called "Asserted Defects." All Defects with respect to which Buyer fails to so give Seller notice will be deemed waived for all purposes.

  • In the event that Buyer notifies Seller of Asserted Defects, Seller shall have the right (but not the obligation) to attempt to cure, prior to Closing, such Asserted Defects to the reasonable satisfaction of Buyer (exclusive of a Defect in subsection (b)(iii) below.

  • Whether or not Seller has then begun to, or ever begins to, cure one or more Asserted Defects (and whether or not Seller has elected option (iii) below with respect to one or more Asserted Defects), Seller may postpone the Closing by designating a new Closing Date not later than September 30, 2007, so that it may attempt to cure one or more Asserted Defects.

  • Notwithstanding any other election made under this Section (without limitation, it being expressly recognized that Seller may attempt to cure Asserted Defects while acting under this election), Seller may elect to have one or more Asserted Defects handled under Article VIII below.

  • If, as a result of such examinations and investigations, one or more matters come to Buyer's attention which would constitute a Defect which Buyer is unwilling to waive, Buyer shall notify Seller in writing of such Defect as soon as reasonably practicable prior to the Closing Date (such Defects of which Buyer so provides notice are called "Asserted Defects").

  • If the Purchase Price reduction which would result from the above provided for procedure as applied to all Asserted Defects does not exceed 2% of the Purchase Price (herein called the “Defect Threshold”), then no adjustment of the Purchase Price shall occur, and any Properties which would be excluded by such procedure shall not be excluded.

  • Only a portion of the Deposit shall be applied as provided in Section 9.3 to the portion of the Purchase Price paid at the initial Closing if it occurs, such portion being the percentage equal to the unadjusted Purchase Price paid at the initial Closing divided by the unadjusted Purchase Price set forth in Section 3.1. Notwithstanding any such election to postpone Closing with respect to the affected Properties, Seller shall still have no obligation to commence to cure or cure any Asserted Defects.


More Definitions of Asserted Defects

Asserted Defects is defined in Section 10.1(a). ---------------
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Asserted Defects is defined in Section 2.8(b) of this Agreement.
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Asserted Defects has the meaning given it in Section 5.1(a).
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Related to Asserted Defects

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.

  • Title Defect means any lien, charge, Encumbrance, defect, or other matter that, as of the Execution Date, causes Seller or any Selling Subsidiary not to have Defensible Title in and to the Conveyed Interests; provided that the following shall not be considered Title Defects:

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

  • Title Defect Notice shall have the meaning set forth in Section 11.2(a).