Common use of Examination of Title Clause in Contracts

Examination of Title. Buyer acknowledges and agrees that it shall have no right to object to any matters with respect to title to the TIC Interests or the Properties except for such matters, if any, (i) related to Seller’s ownership of the TIC Interests and/or ability to convey the TIC Interests to Buyer and (ii) recorded or created by Seller during Seller’s ownership of the TIC Interests (except for matters that Buyer, Manager, the Xxxxxxx TICs or any of their respective members or Affiliates have created or suffered to exist). If any such matters exist, Seller and Buyer shall work together in good faith to resolve such matter to allow Seller to fulfill its obligations hereunder. In the event that Seller is unable to convey title to the TIC Interests in accordance with the terms of this Agreement for any reason whatsoever, Buyer’s sole remedy shall be to terminate this Agreement by written notice from Buyer to Seller delivered on or before the Closing, in which event neither Seller nor Buyer shall have any further liability hereunder with respect to the sale of the TIC Interests but the Tenants in Common shall remain liable for performance in full of their respective obligations related to ownership, management and leasing of the Properties. Buyer may, in its sole discretion, nevertheless accept such title to the TIC Interests as Seller may be able to convey, without reduction of the Purchase Price and without any other liability on the part of Seller.