Commitment to Insure Clause Samples

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Commitment to Insure. Within three (3) business days after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s current title insurance policies and Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”), together with copies of all instruments identified as exceptions therein; and (ii) Seller shall deliver to Buyer a copies of Seller’s surveys of the Property (collectively, the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey(s), or an update of the Existing Survey of the Real Property (the “Survey”).
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Commitment to Insure. Within one (1) business day after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s Owner’s Policy issued by First American Title Insurance Company effective January 2, 2009. Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price, together with copies of all instruments identified as exceptions therein. Within one (1) business day after the Effective Date, Seller shall deliver to Buyer a copy of that certain ALTA/ACSM Land Title Survey of the Property last updated December 18, 2008 (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”).
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Commitment to Insure. Within three (3) business days after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s Owner’s Policy and Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”); and (ii) Seller shall deliver to Buyer a copy of the most recent ALTA/ACSM Land Title Survey of the Property in its possession, if any (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”). In the event of a Closing, Seller shall reimburse Buyer in an amount not to exceed $7,500.00 for the cost of said Survey by a deduction from Seller's proceeds at Closing.
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Commitment to Insure. Within one (1) business day after the date of this Agreement, Buyer shall order a commitment to insure with respect to the Real Property from the Title Company, such commitment to show that title to Seller's leasehold interest in the Real Property is vested in Seller, and to commit to insure title to the Real Property as required by Section 5(a). If the commitment to insure discloses that title to the Real Property is subject to any defect, encumbrance or other title objection other than the Permitted Encumbrances, or if Buyer is unable to obtain such commitment to insure, Buyer shall have the right to give to Seller written notice specifying such defect, encumbrance or other title objection, or inability to obtain such commitment to insure, and Seller shall (subject to the remaining provisions of this subparagraph) use its diligent efforts to correct such defect, encumbrance or other title objection and obtain the commitment to insure from a reputable title insurance company acceptable to Buyer, all by the date which is ten (10) days following Buyer's notice specifying the defect. Notwithstanding anything in this Section 5(c) to the contrary, Seller shall not be deemed to have any obligation to correct any defect, encumbrance or other title objection or to obtain the commitment, unless Seller expressly undertakes such an obligation by a written notice to or written notice agreement with Buyer given or entered into on or prior to the expiration of such 10-day period, except at Closing, Seller shall be obligated to cure, satisfy and remove any liens securing a monetary obligation created by Seller and to pay any past due taxes and assessments against the Property and the same shall not constitute Permitted Encumbrances. Buyer's sole right with respect to any matter to which Buyer objects in a timely manner shall be to elect on or before the expiration of the Inspection Period to terminate this Agreement pursuant to Section 14(c) hereof.
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Commitment to Insure. Within five (5) days after the Effective Date, Seller shall deliver to Buyer a commitment from the Title Company (the “Title Commitment”) to provide at Closing a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”), together with copies of all instruments identified as exceptions therein. The cost of the Title Policy shall be prorated as set forth in Section 8(h) below. Additionally, Buyer hereby acknowledges and confirms that Buyer has heretofore received from Seller a copy of the most recent ALTA/ACSM survey of the Property in Seller’s possession, dated as of December 5, 2007 and prepared by ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, R.P.L.S. No. 4402 on behalf of ▇▇▇▇-▇▇▇▇▇▇ Engineers, Inc., Job No. 9439-07 (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”).
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Commitment to Insure. Within twenty (20) days after the date of this Agreement, Buyer, At Buyer's sole cost and expense, shall order a commitment to insure with respect to the Premises for the Title Insurance Company, such commitment to certify that fee simple title to the Premises is vested in Seller, and to commit to insure title to the Premises.
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Commitment to Insure. Subject to the terms and conditions of the Master Policy issued to WAMU by Radian and this letter, and in specific reliance upon the representations and warranties of WAMU set forth in Section 4 below, Radian agrees to insure each of the Covered Loans in the Portfolio up to the Loss amount for such Covered Loan, subject to an aggregate principal balance of $117,000,000. Notwithstanding anything to the contrary contained herein, Radian shall not be liable for and this MI policy shall not apply to, extend to or cover any individual loan that is no longer represented by the Security. For the purposes of determining whether or not a Covered Loan is represented by the Security, the Company reserves the right to rely on any servicer or trustee report received related to the Security. If, without the prior written consent of Radian, which consent shall not be unreasonably withheld, any individual Covered Loan is removed from the Portfolio by the Trustee or WaMu other than due to the conditions listed in Condition Four of the Master Policy (as expressly amended by Section 3 below), or due to any repurchase or other obligations under the Pooling and Servicing Agreement (the “PSA”), coverage under this MI policy will cancel for all loans listed on Exhibit A.
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Related to Commitment to Insure

  • Commitment to Lend (a) Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date up to but not including the Revolving Credit Loan Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with Section 2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment minus such Lender's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested), including the Swing Line Loans, plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total Commitment at such time. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 11 and Section 12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and Section 12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.

  • Commitment to Issue Letters of Credit (a) Subject to the terms and conditions hereof, upon the execution and delivery by the Borrower of a letter of credit application on the L/C Issuer’s customary form (a “Letter of Credit Application”), the L/C Issuer on behalf of the Revolving Credit Lenders and in reliance upon the agreement of the Revolving Credit Lenders set forth in this §4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower one or more standby letters of credit (individually, a “Letter of Credit”), in such form as may be requested from time to time by the Borrower, and agreed to by the L/C Issuer; provided, however, that, after giving effect to such request, (i) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed the Letter of Credit Sublimit at any time, (ii) the sum of the outstanding principal amount of the Revolving Credit Loans plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, plus the outstanding amount of Swing Line Loans shall not exceed the lesser of (x) the Total Commitment at such time and (y) the Borrowing Base at such time. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the issuance or amendment so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit issued for the account of the Borrower or such Subsidiary that have expired or that have been drawn upon and reimbursed. (b) The L/C Issuer shall not issue any Letter of Credit, if: (i) Subject to §4.1.6, the expiry date of such requested Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or (ii) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date. (c) The L/C Issuer shall not be under any obligation to issue any Letter of Credit if: (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Restatement Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the date hereof and which the L/C Issuer in good ▇▇▇▇▇ ▇▇▇▇▇ material to it; (ii) the issuance of such Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally; (iii) such Letter of Credit is to be denominated in a currency other than Dollars; (iv) such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; or (v) a default of any Revolving Credit Lender’s obligations to fund under §4.1.4. exists or any Revolving Credit Lender is at such time a Delinquent Lender hereunder, unless the L/C Issuer has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with Borrower or such Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to §2.11.1(d)) with respect to such Delinquent Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Exposure as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion. (d) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof. (e) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. (f) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in §14 with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in §14 included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer.

  • The Commitment Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to, but not including, the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.

  • Commitment Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Exception Documents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or 3 days before the Closing Date, whichever is earlier. If the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and the ▇▇▇▇▇▇▇ money will be refunded to Buyer.

  • Conditions Precedent to Initial Extension of Credit The obligation of each Lender to make its initial Advance to any Borrower, and the obligation of each Fronting Bank to issue its initial Letter of Credit, are subject to the conditions precedent that on or before the date of any such Extension of Credit: (a) The Administrative Agent shall have received the following, each dated the same date (except for the financial statements referred to in paragraph (iv)), in form and substance satisfactory to the Administrative Agent and (except for any Note) with one copy for each Fronting Bank and each Lender: (i) This Agreement, duly executed by each of the parties hereto, and Notes requested by any Lender pursuant to Section 2.18(d), duly completed and executed by each Borrower and payable to such Lender; (ii) Certified copies of the resolutions of the Board of Directors of each Borrower approving this Agreement and the other Loan Documents to which it is, or is to be, a party and of all documents evidencing any other necessary corporate action with respect to this Agreement and such Loan Documents; (iii) A certificate of the Secretary or an Assistant Secretary of each Borrower certifying (A) the names and true signatures of the officers of such Borrower authorized to sign each Loan Document to which such Borrower is, or is to become, a party and the other documents to be delivered hereunder and (B) that attached thereto are true and correct copies of the Organizational Documents of such Borrower, in each case as in effect on such date; (iv) Copies of all the Disclosure Documents (it being agreed that those Disclosure Documents publicly available on the SEC’s ▇▇▇▇▇ Database or on FE’s website no later than the Business Day immediately preceding the date of such Extension of Credit will be deemed to have been delivered under this clause (iv)); (v) An opinion of ▇▇▇▇▇ Day, special counsel for each Borrower; (vi) A certificate of an Authorized Officer of each Borrower certifying the satisfaction of the conditions specified in Section 3.02(i) with respect to such Borrower; and (vii) Such other certifications, opinions, financial or other information, approvals and documents as the Administrative Agent, any Fronting Bank or any other Lender may reasonably request, all in form and substance satisfactory to the Administrative Agent, such Fronting Bank or such other Lender (as the case may be). (b) The Administrative Agent shall have received the Fee Letters, duly executed by each of the parties thereto. (c) The Borrowers shall have paid, or caused to be paid, all of the fees payable in accordance with the Fee Letters. (d) Prior to or concurrently with the making of such initial Extension of Credit, all amounts outstanding under the Existing FE Credit Agreement, in each case, whether for principal, interest, fees or otherwise, shall have been paid in full, all commitments to lend thereunder shall have been terminated, and the Existing FE Credit Agreement shall have been terminated. (e) The Administrative Agent shall have received all documentation and information required by regulatory authorities under applicable “know your customer” and anti- money laundering rules and regulations, including without limitation the Patriot Act (including, for the avoidance of doubt, Beneficial Ownership Certifications), to the extent such documentation or information is requested by the Administrative Agent on behalf of the Lenders prior to the date hereof.