Title Matters. Seller agrees to share equally with Buyer the closing costs and the cost of a title insurance company's commitment for and policy of title insurance. Buyer shall pay for any lender’s/mortgagee’s/instrument holder’s title insurance coverage. The title insurance company will furnish a copy of the commitment for title insurance and copies of all of the exception documents referred to therein (hereafter collectively referred to as the “Title Commitment”) to Seller, Buyer, Buyer’s lender and the listing/selling broker as promptly as possible. The Title Commitment shall show a merchantable title vested in Seller, subject to easements, restrictions and protective covenants of record, right-of-way’s, setbacks, tenant rights, trees, fences, ordinances and regulations, unmatured and future assessments, restrictions and protective covenants of record, provided no forfeiture provisions as contained therein, encroachments and overlaps, zoning laws, ordinances and regulations, those exceptions which are standard to a policy of title insurance in the State of Kansas or as specified herein, and those matters attaching to the title by reason of Buyer taking title to the real property. Buyer shall have a period of five (5) days following receipt of the Title Commitment (the “Objection Period”) in which to examine the Title Commitment and advise Seller in writing of any objections ("Title Objections") the Buyer may have to Seller's title as shown in the Title Commitment. Seller shall then have a period of five (5) days in which to notify Buyer in writing of those Title Objections it elects to cure. In the event Seller elects to cure less than all of the Title Objections, Buyer shall have the right to terminate this Agreement by giving Seller written notice thereof within five (5) days of its receipt of Seller's notice, in which case the Xxxxxxx Money shall be returned to Buyer, and thereafter neither party shall have any further obligation hereunder. In the event Buyer does not terminate this Agreement, Seller shall have until Closing ("Cure Period") in which to cure the Title Objections the Seller has elected to cure, which the Buyer Agrees to extend for an additional 45 days in the event Seller has initiated a lawsuit to cure the title objection or objections. Title Objections may also be cured in accordance with applicable current titled standards in the Kansas Title Standards Handbook.
Title Matters. [Variations to the title guarantee105 For the purposes of section 6(2) of the 1994 Act: all entries made in any public register that a prudent tenant would inspect will be treated as within the actual knowledge of the Tenant;
Title Matters. 9 2.4 Survey............................................................10 2.5
Title Matters a. Seller shall convey, and Purchaser shall accept, such title to the Properties as is deliverable pursuant to the 363 Procedures Order and under 11 U.S.C. § 363. The Escrow Company has conducted title searches on each Property and has issued a title commitment for each Property showing various exceptions, which commitment has been made available to Purchaser prior to execution of this Agreement (each, a “Title Commitment”). Each Title Commitment shows various exceptions (the “Title Commitment Exceptions”) and Escrow Company has indicated it is prepared to issue title insurance subject to those exceptions. As a condition to close of escrow, and unless waived by Purchaser, Seller shall remove the Removed Exceptions (as defined in subparagraph b below). Purchaser shall take subject to all other Exceptions. For each Property for which Escrow Company issues an owner’s title insurance policy to Purchaser, Purchaser shall pay Escrow Company the promulgated rate for the state in which the Property is located. The amount of insurance for any Property upon which a policy may be issued shall be calculated by multiplying the Purchase Price by a fraction with the numerator being the 2017 assessed value for that Property and the denominator being the 2017 assessed value of all Properties (the “Attributable Purchase Price”).
Title Matters. (a) For the sole purpose of determining the existence of Title Defects prior to the Closing, Seller warrants that it owns Defensible Title (as defined in Section 3.3(b)) to the Leases except to the extent affected by the litigation described on Schedule C.
Title Matters. Within sixty (60) days after the Effective Date with respect to the Oil and Gas Properties listed on Schedule “6” hereto, Borrower shall furnish Agent with title opinions and/or title information reasonably satisfactory to Agent showing good and defensible record title of Borrower to such Oil and Gas Properties subject only to the Permitted Liens. As to any Oil and Gas Properties hereafter mortgaged to Agent, Borrower will, and will cause each Subsidiary to, promptly (but in no event more than sixty (60) days following such mortgaging), furnish, if requested, Agent with title opinions and/or title information reasonably satisfactory to Agent showing good and defensible title of Borrower or a Subsidiary to such Oil and Gas Properties subject only to Permitted Liens.
Title Matters. Title examination shall be conducted as follows:
Title Matters. Liens and other matters of record noted on any title insurance policy for a Borrowing Base Property delivered to the Administrative Agent, with the Administrative Agent having received the title insurance policies delivered for the Borrowing Base Properties as of the Closing Date.
Title Matters. The Existing Line Property shall be conveyed subject to (a) all matters concerning title thereto, whether known or unknown, in existence as of the date hereof, including any and all easements, encroachments, prescriptive rights, or any other such matter or matters, whether or not the same would be disclosed by an examination of title, shown on a survey, or evident from a physical inspection thereof; (b) the lien of all ad valorem real estate taxes and assessments, if any, and all water and sewer charges and assessments affecting said Property, subject to adjustment as hereinafter provided; and (c) reservation of such access and vegetation management easement rights as Company may deem necessary to allow Company to operate and maintain its facilities, provided the same do not materially interfere, in Developer’s good faith discretion, with Developer’s use of said Property (collectively, the “Permitted Exceptions”). Company shall not be required to incur any expense, take any action or commence any proceeding to remove any matter concerning title, or cure any encumbrance, lien or exception to title (except for the lien of its first mortgage indenture, as provided for herein, and any other encumbrance created by Company following the Effective Date), or otherwise to render Company’s title to the Existing Line Property marketable or insurable. If Developer determines for any reason or for no reason in its sole discretion that the Existing Line Property is not suitable for Developer's purposes, then, prior to Developer’s delivery of the Notice to Proceed under the Agreement, Developer may elect to terminate this Agreement as provided for herein.
Title Matters. Purchaser agrees, promptly upon the execution of this Agreement, at its sole cost and expense, to obtain a title commitment (the "Title Commitment") from a reputable title company authorized to do business in the State of Connecticut (the "Title Company") and to direct the Title Company to deliver a copy of such Title Commitment to Seller simultaneously with the delivery of the same to Purchaser. Purchaser shall have until the expiration of the Due Diligence Review Period in which to notify Seller in writing (the "Title Objection Notice") of any objections Purchaser has to the title to the Property. If Purchaser does not deliver a Title Objection Notice to Seller prior to the expiration of the Due Diligence Review Period, all encumbrances reflected in the Title Commitment shall thereafter constitute "Permitted Encumbrances". Seller agrees to pay one-half the costs of an ALTA Survey of the Realty if required in connection with obtaining title insurance. Seller shall use reasonable efforts to cure all matters set forth in the Title Objection Notice prior to the Closing unless Seller gives Purchaser notice within five (5) days after receiving the Title Objection Notice that it cannot or will not cure such matters, in which case Purchaser shall have five (5) days after receiving Seller's notice to elect either to accept title subject to such matters or terminate this Agreement in which case the Earnest Money and all interest earned thereon shall be promptly refunded to Xxxxxxser and this Agreement shall be null and void and of no further force or effect. Notwithstanding the foregoing, Seller shall be obligated on or prior to the Closing to remove all monetary liens (including without limitation mechanics liens and tax liens) and similar encumbrances related to the payment of money except for environmental liens. Purchaser shall not be deemed to have elected to accept title subject to any encumbrance which is placed on the Property after the expiration of the Due Diligence Review Period and not removed prior Closing.
