Common use of Failure to Cure Title Defects Clause in Contracts

Failure to Cure Title Defects. If Seller fails to cure Monetary Liens or Seller Created Encumbrance that it is obligated to cure in accordance with Section 10.2.2 hereof, such failure shall be a default by Seller subject to the remedies of Article 8 hereof. If Seller elects not to attempt to cure or remove any Notice Defects (other than Monetary Liens and Seller Created Encumbrances which shall be governed by the first sentence of this Section), or is not successful in its efforts to do so on or before the Closing Date, or the end of the extension period, if elected, then this Agreement shall, at the option of Buyer (to be exercised by written notice to Seller given no later than the earlier of: (i) the original or extended Closing Date, as applicable, or (ii) five days after Seller’s notice to Buyer of Seller’s election not to cure or attempt to cure such title defects), be terminated pursuant to Section 8.1.2) hereof, and the Deposit, together with all interest earned thereon, shall be returned to Buyer in accordance with Section 8.3 hereof and Buyer and Seller shall be released and discharged from any further obligation to each other hereunder, except those that expressly survive the termination of this Agreement; provided that unless Buyer so elects to terminate this Agreement, Buyer shall accept such title as is tendered by Seller without reduction in the Purchase Price, or reservation of claim against Seller.

Failure to Cure Title Defects. If Seller fails to cure Monetary Liens or Seller Created Encumbrance Encumbrances that it is obligated to cure in accordance with Section 10.2.2 hereof11.2(b), such failure shall be a default by Seller subject to the remedies of Article 8 hereofIX. If Seller elects not to attempt to cure or remove any Notice Defects (other than Monetary Liens and Seller Created Encumbrances which shall be governed by the first sentence of this Section), material title defects or is not successful in its efforts to do so on or before the Closing Date, or the end of the extension period, if elected, then this Agreement shall, at the option of Buyer or Seller (to be exercised by written notice to Seller the other given no later than the earlier of: (i) the original or extended Closing Date, as applicable, ; or (ii) five (5) days after Seller’s notice to Buyer of Seller’s election not to cure or attempt to cure such title defects), be terminated pursuant to Section 8.1.2) hereofterminated, and Escrow Agent shall return the Deposit, together with all interest earned thereon, shall be returned Deposit to Buyer in accordance with Section 8.3 hereof and Buyer and Seller shall be released and discharged from any further obligation to each other hereunder, except those that expressly survive the termination of this Agreement; provided that unless if Buyer so elects to terminate this Agreementelects, Buyer shall may accept such title as is tendered by Seller without reduction in the Purchase Price, or reservation of claim against Seller.

Failure to Cure Title Defects. If Seller fails to cure Monetary Liens or Seller Created Encumbrance that it is obligated to cure in accordance with Section 10.2.2 hereof, such failure shall be a default by Seller subject to the remedies of Article 8 hereof. If Seller elects not to attempt to cure or remove any material Notice Defects (other than Monetary Liens and Seller Created Encumbrances which shall be governed by the first sentence of this Section), or is not successful in its efforts to do so on or before the Closing Date, or the end of the extension period, if elected, then this Agreement shall, at the option of Buyer (to be exercised by written notice to Seller given no later than the earlier of: (i) the original or extended Closing Date, as applicable, or (ii) five days after Seller’s notice to Buyer of Seller’s election not to cure or attempt to cure such title defects), be terminated pursuant to Section 8.1.2) 8.1.2 hereof, and the Deposit, together with all interest earned thereon, shall be returned to Buyer in accordance with Section 8.3 hereof and Buyer and Seller shall be released and discharged from any further obligation to each other hereunder, except those that expressly survive the termination of this Agreement; provided that unless Buyer so elects to terminate this Agreement, Buyer shall accept such title as is tendered by Seller without reduction in the Purchase Price, or reservation of claim against Seller.

Failure to Cure Title Defects. If Seller fails to cure Monetary Liens or Seller Created Encumbrance that it is obligated to cure in accordance with Section 10.2.2 11.2(b) hereof, such failure shall be a default by Seller subject to the remedies of Article 8 IX hereof. If Seller elects not to attempt to cure or remove any material Notice Defects (other than Monetary Liens and Seller Created Encumbrances which shall be governed by the first sentence of this Section), or Section 11.2(c)),or is not successful in its efforts to do so on or before the Closing Date, or the end of the extension period, if elected, then this Agreement shall, at the option of Buyer (to be exercised by written notice to Seller given no later than the earlier of: (i) the original or extended Closing Date, as applicable, or (ii) five (5) days after Seller’s notice to Buyer of Seller’s election not to cure or attempt to cure such title defects), be terminated pursuant to Section 8.1.29.1(b) hereof, and the Deposit, together with all interest earned thereon, Deposit shall be returned to Buyer in accordance with Section 8.3 9.3 hereof and Buyer and Seller shall be released and discharged from any further obligation to each other hereunder, except those that expressly survive the termination of this Agreement; provided that unless Buyer so elects to terminate this Agreement, Buyer shall accept such title as is tendered by Seller without reduction in the Purchase Price, or reservation of claim against Seller.