Initial Title/Survey Matters Clause Samples

Initial Title/Survey Matters. Unless Buyer delivers written notice to Seller that it objects to any Initial Title/Survey Matter (other than a Prohibited Seller Encumbrance), stating the Initial Title/Survey Matter to which it objects (“Initial Title Objection Notice”) prior to the expiration of the Title Review Period, Buyer will be deemed to have approved such Initial Title/Survey Matter, subject to Section 4.3 (Mandatory Title Cure Obligations). A “Disapproved Initial Title/Survey Matter” means an Initial Title/Survey Matter to which Buyer timely objects. Seller shall notify Buyer within five (5) days of receipt of Buyer’s Title Objection Notice whether Seller intends to cure any Disapproved Initial Title/Survey Matters, provided, however, Seller shall be obligated to cure Mandatory Title Cure Obligations. If Seller gives ▇▇▇▇▇ written notice that it will not provide a Title Cure for any one or more of such Disapproved Additional Title/Survey Matters, then Buyer may, at its option, terminate this Agreement upon notice to Seller but only if such termination notice is given prior to the Due Diligence Expiration Date, in which event the Deposit will be promptly returned to Buyer. If Buyer fails to give such termination notice by such time, Buyer will be deemed to have waived its objection to, and approved, such matters, subject to Section 4.3 (Mandatory Title Cure Obligations).