Accept Title Sample Clauses
The "Accept Title" clause establishes the conditions under which a party agrees to accept the legal title to a property or asset. Typically, this clause outlines the requirements for the title to be considered acceptable, such as being free from liens, encumbrances, or defects, and may specify the process for reviewing title documents or resolving any issues that arise. Its core practical function is to ensure that the receiving party obtains clear and marketable ownership, thereby reducing the risk of future disputes or claims related to the title.
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Accept Title. Accept title to the Property without any reduction of the Purchase Price, in which event, at the Closing and subject to the rights of Tenant, Seller shall assign to Purchaser any eminent domain or condemnation award or insurance proceeds payable to Seller or its successors or assigns by reason of such eminent domain or condemnation proceeding or damage or casualty, and pay over to Purchaser any monies theretofore received by Seller in connection with such eminent domain or condemnation proceeding or fire or other casualty; or