Common use of Final Title Commitment Clause in Contracts

Final Title Commitment. As a condition precedent to Buyer’s obligation to acquire the Property at Closing, Buyer has the right to receive one or more commitment(s), dated after the Auction, for the issuance of standard ALTA owner’s title insurance policy(ies) insuring fee simple title to the Property in the name of Buyer for the amount of the Purchase Price, free and clear of any material encumbrance that does not constitute a Permitted Exception (the “Final Title Commitment”, whether one or more). The cost of furnishing the Final Title Commitment shall be charged to Seller. Buyer agrees to accept the Final Title Commitment furnished by Seller notwithstanding: (a) standard exceptions, conditions and requirements; (b) any exception, condition or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (c) any specific or general exception or exclusion with respect to Minerals; and/or (d) any matter listed, described or revealed in the Final Title Commitment that constitutes a Permitted Exception. Subject to the foregoing provisions, Buyer agrees to accept a Final Title Commitment issued by the same title company(ies) that prepared the applicable preliminary title insurance schedules (as identified in Table B-1).

Final Title Commitment. As a condition precedent to Buyer’s obligation to acquire the Property at Closing, Buyer has the right to receive one or more commitment(s)a commitment, dated after the Auction, for the issuance of a standard coverage ALTA owner’s title insurance policy(ies) policy insuring fee simple title to the Property Real Estate in the name of Buyer for the amount of the Purchase PricePrice (less the amount, if any, allocated to personal property in accordance with Section 4 above), free and clear of Liens and any other material encumbrance that does not constitute a Permitted Exception (the “Final Title Commitment”, whether one or more). The cost of furnishing the Final Title Commitment shall be charged to Seller. Buyer agrees to accept the Final Title Commitment furnished by Seller notwithstanding: (a) standard exceptions (including survey exceptions, conditions and requirements); (b) any exception, condition or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (c) any specific or general exception or exclusion with respect to Mineralsminerals; and/or (d) any matter listed, described or revealed in the Final Title Commitment that constitutes a Permitted Exception. Subject to the foregoing provisions, Buyer ▇▇▇▇▇ agrees to accept a Final Title Commitment issued by the same title company(ies) company that prepared the applicable preliminary title insurance schedules (as identified in Table B-1)Preliminary Title Evidence.