Commitment for Title Insurance and Survey Sample Clauses

Commitment for Title Insurance and Survey. Seller shall use commercially reasonable efforts to deliver to Buyer and Buyer’s counsel with respect to the Real Property (a) within twenty-one (21) days from the date of this Agreement (or such later time as may be commercially reasonable based on the date of delivery of the Appraisal), a title commitment with respect to the Real Property (including all documents, instruments or agreements evidencing or creating the exceptions referenced in such commitment) (the “Commitment”) issued by a title company licensed in Texas to issue title insurance (the “Title Company”) setting forth the status of title to the Real Property and containing an express commitment of the Title Company to issue the Title Policy (as defined below) to Buyer in an amount not less than the Fair Market Value of the Real Property for purposes of this Agreement, together with a copy of all instruments listed as exceptions to the Commitment. To Seller’s Knowledge after due inquiry, Seller does not have possession of any recent surveys with respect to the Real Property. If Buyer chooses to obtain a current ALTA survey for the Real Property (the “Survey”), Buyer must order and obtain the Survey within twenty-one (21) days from the date of this Agreement. The Commitment shall reflect that Buyer has good and marketable title to the Real Property, subject to all current Taxes and assessments, all encumbrances and matters of record, and all matters that would otherwise be revealed by an accurate ALTA survey or physical inspection of the property. Title shall be conveyed to Buyer subject to (i) any shortages in area, (ii) Taxes for the year in which the Closing occurs and subsequent years and subsequent assessments for prior years due to a change in land usage or ownership, (iii) existing building and zoning ordinances, (iv) utility and other easements, (v) all encumbrances and matters of record or which are disclosed on the Survey, independently discovered by Buyer or which are ascertainable by visual inspection (to include encroachments, possible adverse claims or other matters), and (vi) objections accepted or deemed waived by Buyer (collectively, the “Permitted Encumbrances”). The cost of the Commitment shall be borne by Seller, and the cost of the Survey shall be borne by Buyer.
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Commitment for Title Insurance and Survey. Quixote shall cause to be delivered to Parent not more than 30 days after the date hereof, with respect to each parcel of Owned Real Property identified on Schedule 5.10 and the parcel of leased real property identified as Item No. 6 on Schedule 5.11: (i) a current commitment for the issuance of an owner's title insurance policy (or leasehold owner's title insurance policy, as the case may be), all of which policies shall be ALTA 1992 Form-B policies with an endorsement deleting the "creditor's rights" exception or exclusion, with an ALTA Form 3.1 zoning endorsement, an access endorsement insuring that each street adjacent to the real property is a public street and that there is direct and unencumbered access to such street and an endorsement insuring that there is no violation of any covenants, conditions or restrictions affecting the real property, with extended coverage over general exceptions 1 (rights or claims of parties in possession), 2 (survey matters), 3 (easements), 4 (mechanic's liens) and 5 (taxes or special assessments not shown as existing liens), written by First American Title Company or another nationally recognized title insurance company in an amount equal to the value to be allocated to such parcel on the Allocation Schedule, in form and substance satisfactory to Parent, and providing that, upon the satisfaction of the conditions specified therein, Cinram will have good and marketable title thereto, free and clear of all Encumbrances (other than Permitted Encumbrances); and (ii) an ALTA land title survey, certified to Parent and acceptable to such title company, of a recent date with respect to each such parcel showing no encroachments or other survey defects with respect to the buildings, structures and other improvements located on such property. 7.8.
Sample 1
Commitment for Title Insurance and Survey. Seller shall deliver to Buyer and Buyer's counsel with respect to each parcel of Real Property (a) within thirty (30) days from the date of this Agreement, title commitments (including all documents, instruments or agreements evidencing or creating the exceptions referenced in such commitment) (the "Commitments") issued by a title company mutually agreeable to Buyer and Seller (the "Title Company") and (b) within forty-five (45) days from the date of this Agreement, land title surveys of the Real Property, prepared and certified as to all matters shown thereon by a surveyor licensed by the State of Illinois (the "Surveys"), which Surveys shall include a notation stating whether or not a portion of such Real Property is located in a 100-year flood plain, flood-prone area of special flood hazard and shall show the specific location of any portions of such Real Property that may be located in any such flood areas. The Commitments shall reflect that Buyer has good and indefeasible title to the Real Property, subject only to (1) any shortages in area, (2) taxes for 2004 and subsequent years and subsequent assessments for prior years due to a change in land usage or ownership, (3) existing building and zoning ordinances, (4) utility easements, and (5) objections accepted or deemed waived by Buyer (collectively, the "Permitted Encumbrances"). The cost of the Commitments shall be borne by Seller and the cost of the Surveys shall be shared equally between the Buyer and Seller.
Sample 1
Commitment for Title Insurance and Survey. The Seller shall deliver to the Buyer and the Buyer’s counsel with respect to each parcel of Real Property within five (5) days from the date of this Agreement, all title commitments or policies (including all documents, instruments or agreements evidencing or creating the exceptions referenced in such commitment) in its possession, together with any land title surveys of the Real Property, and environmental tests or reports relating to the Real Property in its possession.
Sample 1
Commitment for Title Insurance and Survey. Seller shall deliver to Buyer and Buyer’s counsel with respect to each parcel of Real Property (a) within 30 days from the date of this Agreement, title commitments (including all documents, instruments or agreements evidencing or creating the exceptions referenced in such commitment) (the “Commitments”) issued by Home Abstract and Title Company, Waco, Texas (the “Title Company”) and (b) within 45 days from the date of this Agreement, land title surveys of the Real Property, prepared and certified as to all matters shown thereon by a surveyor licensed by the State of Texas (the “Surveys”), which Surveys shall include a notation stating whether or not a portion of such Real Property is located in a 100-year flood plain, flood-prone area of special flood hazard and shall show the specific location of any portions of such Real Property that may be located in any such flood areas. The Commitments shall reflect that Buyer has good and indefeasible title to the Real Property, subject only to (1) any shortages in area, (2) taxes for 2008 and subsequent years and subsequent assessments for prior years due to a change in land usage or ownership, (3) existing building and zoning ordinances, (4) utility easements, and (5) objections accepted or deemed waived by Buyer (collectively, the “Permitted Encumbrances”). The cost of the Commitments shall be borne by Seller and the cost of the Surveys shall be shared equally between the Buyer and Seller.
Sample 1
Commitment for Title Insurance and Survey. Section 2.24 of the Agreement is amended to delete from the first sentence thereof the phrase “forty-five (45) days” and to substitute “ninety (90) days” therefor.
Sample 1
Commitment for Title Insurance and Survey. Within forty-five (45) days of the date of this Agreement, Seller shall deliver to Purchaser and Purchaser’s counsel, at Purchaser’s expense, with respect to each parcel of Real Property (a) a title commitment (including all documents, instruments or agreements evidencing or creating the exceptions referenced in such commitment) (the “Commitment”) issued by a title company acceptable to Purchaser (the “Title Company”) and (b) a land title survey of the Real Property, prepared and certified as to all matters shown thereon by a surveyor licensed by the State of Texas (the “Survey”), which Survey shall include a notation stating whether or not a portion of such Real Property is located in a 100-year flood plain, flood-prone area of special flood hazard and shall show the specific location of any portions of such Real Property that may be located in any such flood areas. The Commitment shall reflect that Seller has good and indefeasible title to the Real Property, subject only to (a) (1) any shortages in area, (2) taxes for 2006 and subsequent years and subsequent assessments for prior years due to a change in land usage or ownership, (3) utility easements, restrictive covenants and other matters that do not materially and adversely affect the present use of the Real Property as a commercial bank, and (4) objections accepted or deemed waived by Purchaser (collectively, the “Permitted Encumbrances”); and (b) other matters of record in Maverick County, Texas and routine matters to be satisfied as part of the conveyance of the Real Property.
Sample 1
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Related to Commitment for Title Insurance and Survey

  • Title Insurance and Surveys Buyer, at its sole cost and expense, may procure owner’s title insurance policies (the “Title Policies”) from Title Company with respect to the Owned Real Property or the Leased Real Property insuring title subject only to the Permitted Liens and such other general title exceptions as may be raised by the Title Company; provided, that Buyer’s ability or inability to obtain title insurance from the Title Company on the Owned Real Property or the Leased Real Property shall not result in an adjustment to the Purchase Price. If Buyer requests extended coverage policies or any endorsements to the Title Policies, Buyer shall also be responsible for the cost of such extended coverage and endorsements and the delivery of any documentation required by the Title Company in connection with the issuance of such extended coverage and endorsements (including surveys or zoning reports), however, Seller shall deliver the documentation required by the Title Company in connection therewith as described below. At Buyer’s request, Seller and its Affiliates shall cooperate with and assist Buyer with any reasonable request in Buyer’s efforts to obtain the Title Policies and shall execute and deliver to the Title Company such affidavits, certificates and other documentation as are customary and reasonably requested to cause the Title Company to issue CLTA Standard Coverage Policy – 1990 for the Owned Real Property or the Leased Real Property (including assistance to obtain a “non-imputation” or similar endorsement), provided that no such cooperation or assistance and nothing in such affidavits, certificates or documentation shall require Seller or its Affiliates to incur any Obligations to any Person that are not otherwise expressly set forth in this Agreement. Notwithstanding the preceding, Seller shall use Commercially Reasonable Efforts to provide, in support of any such “non-imputation” or similar endorsement, a legal opinion to the Title Company from the general counsel of the Company, subject to customary assumptions and qualifications, as to such counsel’s opinion, without additional inquiry, as to the status of the title rights of the Company to the Owned Real Property lying within the boundary fence of the Refinery. In no event shall Seller be obligated to seek estoppel certificates in connection with any of the Leased Real Properties. Prior to Closing, Buyer may, at its sole cost and expense, obtain and update any surveys pertaining to the Owned Real Property or the Leased Real Property; provided, however, that any such surveys and survey updates shall be performed by a surveyor acceptable to Seller, the approval of which shall not be unreasonably withheld, conditioned or delayed. Neither Buyer’s or any of its lenders’ receipt of any new or updated surveys shall constitute a condition to Closing or form the basis for delaying Closing; however, Seller agrees to reasonably cooperate with Buyer prior to the Closing to permit Buyer to attempt to procure any surveys of the Real Property Interests that Buyer reasonably deems necessary, all at Buyer’s sole risk, cost and expense.

  • Title Insurance The Mortgage Loan is covered by an ALTA lender's title insurance policy, or with respect to any Mortgage Loan for which the related Mortgaged Property is located in California a CLTA lender's title insurance policy, or other generally acceptable form of policy or insurance acceptable pursuant to Seller's Underwriting Guidelines and each such title insurance policy is issued by a title insurer acceptable to prudent lenders in the secondary mortgage market and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring the originator, its successors and assigns, as to the first (with respect to a First Lien Loan) or second (with respect to a Second Lien Loan) priority lien of the Mortgage in the original principal amount of the Mortgage Loan (or to the extent a Mortgage Note provides for negative amortization, the maximum amount of negative amortization in accordance with the Mortgage), subject only to the Permitted Exceptions, and in the case of Adjustable Rate Mortgage Loans, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment to the Mortgage Interest Rate and Monthly Payment. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender's title insurance policy affirmatively insures ingress and egress, and against encroachments by or upon the Mortgaged Property or any interest therein. The Seller (or its predecessor in interest), its successors and assigns, are the sole insureds of such lender's title insurance policy, and such lender's title insurance policy is valid and remains in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender's title insurance policy, and no prior holder of the related Mortgage, including the Seller, has done, by act or omission, anything which would impair the coverage of such lender's title insurance policy, including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Seller;

  • Title Commitment and Survey (a) Buyer has received and reviewed a copy of the Title Commitment and the Existing Survey. Buyer is solely responsible for obtaining any updated title commitments, surveys, or any other title related matters Buyer desires with respect to the Assets at Buyer’s sole cost and expense. Buyer shall have until not later than 5:00 p.m. Eastern Time on the date that is no later than ten (10) days prior to the end of the Due Diligence Period (the “Title Report Objection Date”), to notify Seller’s attorney in writing (the “Title Report Objection Notice”) as to any items shown on the Title Commitment (as updated if applicable) that Buyer believes are not Permitted Exceptions. Buyer’s failure to timely deliver the Title Report Objection Notice on or prior to the 5:00 p.m. Eastern Time on the Title Report Objection Date shall constitute Buyer’s irrevocable acceptance of the Title Commitment and Buyer shall be deemed to have unconditionally waived any right to object to any matters set forth therein. If Buyer timely delivers a Title Report Objection Notice, Seller shall have seven (7) days after receipt of such notice to notify Buyer (i) that Seller will remove or cause to be removed such objectionable exceptions from title on or before the Closing, in which case the provisions of subsection 8.3(b) shall apply; or (ii) that Seller elects not to cause such exceptions to be removed at which time Buyer may elect, prior to the end of the Due Diligence Period, to accept the Title in its current condition or terminate this Agreement in which event the Deposit shall be promptly delivered to Seller and the parties shall have no further obligations to each other except for those that expressly survive the termination of this Agreement. Nothing in this subsection shall require Seller, despite any election by Seller to attempt to discharge any title exceptions, to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, other than with respect to the Pre-Effective Date Seller Encumbrances, Post Effective Date Monetary Encumbrances and Post Effective Date Seller Encumbrances (as hereinafter defined) pursuant to Section 8.3 of this Agreement.

  • 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 Policy The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.

  • Title Commitment Within five (5) Business Days after the Effective Date, Seller shall request from the Title Company a title commitment for the Property (the "Seller's Title Commitment"), specifying Seller as the record owner of the Property, showing Purchaser as the prospective named insured, in the amount of the Property Purchase Price, showing the status of title of the Property and listing all exceptions (including, but not limited to, easements, restrictions, rights-of-way, covenants, reservations, encumbrances, liens and other conditions, if any, affecting the Property) which would appear in the Owner’s Policy of Title Insurance, when issued, together with true, correct and legible copies of all items and documents referred to therein. Within five business days after receipt of the title commitment and related documents by Seller, Seller shall convey it to Purchaser. Seller shall deliver to Purchaser title at closing subject only to the "Permitted Exceptions,” as defined herein. Purchaser shall have a period (the "Review Period") ending on the date which is fifteen (15) business days after the date on which Purchaser receives the last of (i) the Title Commitment; and (ii) true, legible copies of all instruments referred to in the Title Commitment, in which to notify Seller of any objections Purchaser has to any matters shown or referred to in the Title Commitment (“Objection Notice”). Any exception to which Purchaser does not object shall be considered a "Permitted Exception". In the event Purchaser timely provides Seller an Objection Notice, Seller shall have the right, but not the obligation, at its sole cost, to eliminate or modify such unacceptable exceptions or conditions and shall give Purchaser written notice of Seller’s intent to eliminate or modify such unacceptable exceptions or conditions within ten (10) days following delivery of the Objection Notice (“Seller’s Cure Period”). In the event Seller is unable or unwilling to eliminate or modify such unacceptable exceptions or conditions to the satisfaction of Purchaser within Seller's Cure Period, and so notifies Purchaser in writing (the “No Cure Notice”), then in that event Purchaser may elect in writing delivered to Seller within ten (10) days following delivery of the No Cure Notice to Purchaser to elect to either (1) waive such Objections, or

  • Title Policies The Title Company shall be prepared, -------------- subject only to payment of the applicable premium, endorsement and related fees and delivery of all conveyance documents in recordable form, to issue a title insurance policy to Purchaser, subject only to the Permitted Encumbrances, in accordance with Section 3.3. -----------

  • Title Commitments Each Purchaser acknowledges and agrees that it has reviewed preliminary Title Commitments and a survey of the Real Property (the “Survey”) and that all exceptions to title set forth on Schedule B to each Title Commitment, each of which is listed on Exhibit E, constitute Permitted Liens other than those items which Purchasers marked as “omit” on the date hereof and which was provided to Seller’s counsel by PropCo Purchaser’s counsel in an e-mail at 6:34 pm Eastern Time on the date hereof, and that Seller shall not be obligated to remove any such matters constituting Permitted Liens. Purchasers shall forward a copy of any updates of the Title Commitments and updates of the Survey to Seller and Seller’s attorneys promptly upon receipt. The applicable Purchaser shall bear the cost and expense of any examination of title commissioned by or on behalf of such Purchaser or any mortgagee and of any owner’s or, if elected by such Purchaser, mortgagee’s policy of title insurance to be issued upon or after the Closing insuring the fee and/or leasehold interests of the Acquired Companies and/or the applicable Purchaser (or its designee) in the Real Property, as well as all other title charges, Survey fees or recording charges incurred in connection with the applicable Purchaser’s Title Policy, except (i) Seller shall be responsible for the recording fee related to each Deed, (ii) Seller and PropCo Purchaser shall each pay 50% of the premium attributable to PropCo Purchaser’s non-imputation endorsement, (iii) Seller and OpCo Purchaser shall each pay 50% of the premium attributable to OpCo Purchaser’s non-imputation endorsement, and (iv) as set forth in Section 6(c).

  • 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 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;

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