ALTA Sample Clauses

ALTA. The American Land Title Association and any successor thereto.
ALTA. (i) PNB and its Subsidiaries, in the aggregate, beneficially own, directly or indirectly, not more than 4.9% of any class of outstanding voting equity securities of Alta and do not have non-voting equity interests in, loans to or other arrangements with Alta which would cause the ownership in Alta to be ineligible for the exemption set forth in Section 4(c)(6) of the BHC Act.
ALTA. Survey. The Administrative Agent shall have received an A.L.T.A. survey of the Property and any Easements, satisfactory in form and substance to the Title Insurer and the Administrative Agent, dated no earlier than thirty (30) days prior to the Effective Date and certified to each such Person by a surveyor licensed in the state of Nevada and satisfactory to each such Person, showing (v) the exact location and dimensions of the Property, including the location of all means of access thereto and all Easements relating thereto; (w) all exterior building walls; (x) as to the existing utility facilities servicing the Improvements located on the Property (including water, electricity, gas, telephone, sanitary sewer and storm water distribution and detention facilities), the exact location and means of access thereto, to the extent capable of being described without additional cost or expense; (y) that there are no gaps, gores, projections, protrusions or other survey defects unless same are Permitted Liens; and (z) whether the Property or any portion thereof is located in a special flood hazard zone.
ALTA. Surveys. If the Bank Agent did not approve in writing the A.L.T.A. surveys described in Section 3.3.5, then the Disbursement Agent and the Bank Agent shall have received the A.L.T.A. surveys and conforming to the requirements of Section 3.3.5.

Related to ALTA

  • Title Insurance Each Mortgaged Property is covered by an American Land Title Association (or a comparable form as adopted in the applicable jurisdiction) lender's title insurance policy, a pro forma policy or a marked-up title insurance commitment (on which the required premium has been paid) which evidences such title insurance policy (the "Title Policy") in the original principal amount of the related Mortgage Loan after all advances of principal. Each Title Policy insures that the related Mortgage is a valid first priority lien on such Mortgaged Property, subject only to Permitted Encumbrances. Each Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no material claims have been made thereunder and no claims have been paid thereunder. No holder of the related Mortgage has done, by act or omission, anything that would materially impair the coverage under such Title Policy. Immediately following the transfer and assignment of the related Mortgage Loan to the Trustee, such Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) will inure to the benefit of the Trustee without the consent of or notice to the insurer. To the Seller's knowledge, the insurer issuing such Title Policy is qualified to do business in the jurisdiction in which the related Mortgaged Property is located. Such Title Policy contains no exclusion for, or it affirmatively insures access to a public road.

  • Title Policy With respect to the Collateral Property, an ALTA standard form owner’s title insurance policy (or, if such form is not available, an equivalent form of or legally promulgated form of owner’s title insurance policy reasonably acceptable to Lender) issued by a Title Insurance Company in such amount as Lender may require insuring that Owner holds marketable fee simple title to such parcel, subject only to the liens of Mortgage Lender under the Mortgage Loan Documents and other encumbrances approved by Lender and which shall not contain standard exceptions for mechanics liens, persons in occupancy (other than tenants as tenants only under Leases) or matters which would be shown by a survey, shall not insure over any matter except to the extent that any such affirmative insurance is acceptable to Lender in its sole discretion, and shall contain such other endorsements and affirmative insurance as Lender reasonably may require and is available in the State in which the Collateral Property is located.

  • Title Policy and Survey A. TITLE POLICY: Seller shall furnish to Buyer at  Seller’s  Buyer’s expense an owner policy of title insurance (Title Policy) issued by (Title Company) in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy, subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions:

  • Title Policies On the Closing Date, Seller will cause the Title Company or its title insurer to provide Buyer with (or to be irrevocably committed to provide to Buyer post-Closing) (i) a standard coverage owner's title policy (a "Title Policy") for the Owned Real Property, and (ii) a standard coverage owner's title commitment (a "Title Commitment") for the Contracted Real Property, in each case, issued by the Title Company or its title insurer, effective as of the Closing, naming Buyer as insured, in the amount of that portion of the Purchase Price allocated to such portion of the Real Property in accordance with the Master Agreement, insuring that the estate or interest described as the insured estate in each Report is vested in Buyer (in the case of the Owned Real Property) or is vested in the optionor or seller (in the case of the Contracted Real Property). Selling Parties will pay the premium of a standard coverage title policy for each Title Policy, and any nominal cost for obtaining each Title Commitment. Parent and Buyer will be responsible for the difference in premium between the standard coverage policy and any extended coverage that Buyer requires, as well as for the premium relating to any endorsements that Buyer or Parent is able to obtain. The Title Policy will include such endorsements issued by the Title Company as Parent may reasonably require, and Buyer shall obtain such endorsements as may be available from the Title Company without ALTA surveys at a commercially reasonable price to insure over the matters described in Section 4.13R of the Master Agreement, the cost of all of which endorsements will be borne by Buyer. Seller will use reasonable good faith efforts to satisfy all of the Title Company's customary requirements for the issuance of the Title Policies (at Seller's expense) and extended coverage and endorsements (at Buyer's expense), other than those, if any, within Buyer's or Parent's control.

  • Title Insurance Policy In all cases, the Seller undertakes to remove any encumbrance that will materially interfere with the procurement of a title insurance policy or financing necessary for the purchase of the Property, whether the same is included in the above enumeration or not. Further, the Seller undertakes to, in good faith, cooperate with and assist the Buyer fully in obtaining a title insurance policy. The Seller shall be obligated to take all legal and reasonably necessary action in order to procure such title insurance policy but shall not incur any additional liability in relation thereto. If the title to the Property is not in a condition that is compliant with the above, if the Seller fails or refuses to comply with the Seller’s obligations under this section, or if the Parties are unable to obtain a title insurance policy, the Buyer may, in the Buyer’s sole discretion, accept the title as it is and proceed with the purchase under this Agreement, or terminate this Agreement and recover the Xxxxxxx Money, costs incurred in relation to this Agreement and .

  • Title Insurance and Surveys Sellers will cause Target to use its best efforts to assist Buyer in obtaining the Title Commitments, Title Policies and Surveys in form and substance as set forth in §7 of this Agreement, within the time periods set forth therein, including removing from title any Liens or encumbrances that are not Permitted Encumbrances. Sellers shall provide the Title Company with any affidavits, indemnities, memoranda or other assurances requested by the Title Company to issue the Title Policies.

  • Title Insurance Policies The Borrower will deliver to the Administrative Agent a policy of title insurance (or marked-up title insurance commitment or title proforma having the effect of a policy of title insurance) (a “Title Policy”) insuring the Lien of such Mortgage as a valid first mortgage or deed of trust Lien on the Mortgaged Property described therein in an amount not less than the estimated fair market value of such Mortgaged Property as reasonably determined by the Borrower, which Title Policy shall (A) be issued by a nationally-recognized title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”), (B) include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Administrative Agent, (C) be supplemented by a “tie-in” or “aggregation” endorsement, if available under applicable law, and such other endorsements as may reasonably be requested by the Administrative Agent (including (to the extent available in the applicable jurisdiction and/or with respect to the Mortgaged Property, in each case, on commercially reasonable terms) endorsements on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business, public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, and so-called comprehensive coverage over covenants and restrictions) if available under applicable law at commercially reasonable rates and (D) contain no other exceptions to title other than Permitted Liens and other exceptions acceptable to the Administrative Agent in its reasonable discretion;

  • Survey Buyer may obtain a survey of the Property before the Closing to assure that there are no defects, encroachments, overlaps, boundary line or acreage disputes, or other such matters, that would be disclosed by a survey ("Survey Problems"). The cost of the survey shall be paid by the Buyer. Not later than business days prior to the Closing, Buyer shall notify Seller of any Survey Problems which shall be deemed to be a defect in the title to the Property. Seller shall be required to remedy such defects within business days and prior to the Closing. If Seller does not or cannot remedy any such defect(s), Buyer shall have the option of canceling this Agreement, in which case the Xxxxxxx Money shall be returned to Buyer.

  • Title Commitment A title commitment (“Title Commitment”) from a title company selected by the Seller to the Buyer’s approval (“Title Company”), together with a copy of each instrument, agreement or document listed as an exception to title in such Title Commitment;

  • Insurance Report As soon as practicable and in any event by the last day of each Fiscal Year, a report in form and substance satisfactory to Administrative Agent outlining all material insurance coverage maintained as of the date of such report by Holdings and its Subsidiaries and all material insurance coverage planned to be maintained by Holdings and its Subsidiaries in the immediately succeeding Fiscal Year;