Common use of Satisfactory Title Clause in Contracts

Satisfactory Title. The Security Documents shall constitute a valid lien on the Property for the full amount of the Project Loan advanced to and including such date, free and clear of all Liens except for Permitted Exceptions. Lender shall have been furnished with a notice of title continuation or an endorsement to the title insurance policy issued to Lender in connection with the first advance of the Project Loan, which continuation or endorsement shall state that since the last disbursement of the Project Loan there have been no changes in the state of title to the Property.