Eventhough some argue that cord is exposed, but in realty all the items that usually go in the cabinet above the built in microwave are things that will not in any way damage the cord. besides most microwaves get installed flush on the top and at the back and the cord comes off of the top of the unit. So the only way it can be installed is through the hole that is made on the bottom shelf of the cabinet.
I guess this can also fall under the gray area where the AHJ must make the final decision.
Edward
