Curing Title Clause Samples
The Curing Title clause outlines the process by which a party, typically a seller, is required to resolve or "cure" any defects or issues found in the title to a property before the transaction can proceed. In practice, this may involve actions such as paying off outstanding liens, correcting errors in public records, or obtaining necessary releases or documentation to ensure clear ownership. The core function of this clause is to ensure that the buyer receives a marketable and unencumbered title, thereby reducing the risk of future disputes or claims against the property.
Curing Title. In the event of a Failure of Title under Article IV.B.1. or a loss of title under Article IV.B.2. above, any Lease or Interest acquired by any party hereto (other than the party whose interest has failed or was lost) during the ninety (90) day period provided by Article IV.B.1. and Article IV.B.2. above covering all or a portion of the interest that has failed or was lost shall be offered at cost to the party whose interest has failed or was lost, and the provisions of Article VIII.B. shall not apply to such acquisition.
Curing Title. In the event of a Failure of Title under Article IV.B.1. or a loss of title under Article IV.B.2. above, any Lease or Interest acquired by any party hereto (other than the party whose interest has failed or was lost) during the ninety (90) day period provided by Article IV.B. I. and Article IV.B.2. above covering all or a portion of the interest that has failed or was lost shall be offered at cost to the party whose interest has failed or was lost, and the provisions of Article VIII.B shall not apply to such acquisition.
A. A.P.L. FORM 610 — MODEL FORM OPERATING AGREEMENT- 1989
A. Designation and Responsibilities of Operator:
Curing Title. Company will review the Title Report, copies of the encumbrances and the Title Review Memorandum provided by Contractor and assess title deficiencies pointed out in the Title Review Memorandum. Company will decide if the title should be cured, if it is acceptable as is, or if the site is not a suitable candidate. Proprietary & Confidential 6 (43) Bechtel Communications & TerreStar Networks Exhibit C Attachment 5 Leasing Guidelines
Curing Title. Company will review the Title Report, copies of the encumbrances and the Title Review Memorandum provided by Contractor and assess title deficiencies pointed out in the Title Review Memorandum. Company will decide if the title should be cured, if it is acceptable as is, or if the site is not a suitable candidate. If Company elects to cure title deficiencies for a Site, Company may request Contractor to perform title curative work. Contractor will provide a cost quote to perform curative work, which will be subject to Company’s approval.
Curing Title. In the event that the title shall be found by Purchaser not to be good, marketable and insurable, Seller shall have a reasonable time after notification by Purchaser of the defects within which to make the said title good, marketable and insurable, and shall use reasonable diligence in doing so. At the election of Purchaser, the closing date shall be extended for THIRTY (30) days or until TEN (10) days after the title is cured, whichever is sooner. If said title shall not be made good, marketable and insurable by the extended closing date, then the deposit at Purchaser's direction and option shall be refunded to Purchaser, and Purchaser shall be relieved of all further obligations under this Agreement, or Purchaser may proceed to close with a reduction in the purchase price based upon the actual cost to cure such title defect or defects.