Seller's Election to Cure Sample Clauses

Seller's Election to Cure. Seller may notify Buyer in writing on or before the Closing Date that it elects to cure the alleged Title Defect. If Seller has elected to cure the Title Defect, then Seller shall use commercially reasonable efforts to cure such Title Defect during a period ending sixty days after Closing (the "Cure Period").
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Seller's Election to Cure. If Seller elects to cure any Title Defect, Seller shall notify Buyer of such fact. If any such Title Defect is cured or removed prior to the Closing, Buyer shall accept, pay for in accordance with this Agreement, and receive an assignment of the affected Property at the Closing and Seller shall have no further liability to Buyer with respect to such Title Defect. If Seller elects to attempt to cure a Title Defect, but Seller is unable to cure such Title Defect prior to the Closing, Seller shall provide to Buyer written notice of such fact. At the Closing, Seller shall not deliver to Buyer an assignment of the Property affected by the asserted Title Defect, and the Allocated Value of the Property subject to the asserted Title Defect shall be withheld from the Adjusted Purchase Price paid at Closing. Seller shall have sixty (60) days after the Closing to cure or remove all such Title Defects. With respect to those Title Defects cured or removed to the reasonable satisfaction of Buyer or as to which Seller and Buyer otherwise agree on or before the expiration of such sixty (60) day period, Buyer will accept, pay for in accordance with this Agreement, and receive an assignment of the affected Property. If, at the expiration of such sixty (60) day period, there remain any Title Defects that have not been cured or removed to the reasonable satisfaction of Buyer or otherwise agreed upon by Seller and Buyer, Buyer shall eliminate the affected Property from the transactions contemplated in this Agreement and retain the previously withheld portion of the Purchase Price related to such Property, free and clear of any claim by Seller, and thereupon any and all rights of Buyer in or with respect to such Property shall terminate. During the sixty (60) day period provided for in this Section 5.06, with respect to all Properties subject to uncured Title Defects that Seller is attempting to cure, Seller shall remain the record and beneficial owner thereof, and Seller shall continue to conduct its operations thereon or with respect thereto subject to and in accordance with the provisions of this Agreement.
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Seller's Election to Cure. Seller may notify Buyer in writing on or before the July 13th, 2007 that they elect to cure the alleged Title Defect or, alternatively, may elect to retain the affected Property and reduce the adjusted purchase price by the allocated value of the affected Property. If Seller has elected to cure the Title Defect, then Seller shall use commercially reasonable efforts to cure such Title Defect during a period ending on August 13th, 2007 (the “Cure Period”).
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Seller's Election to Cure. If Buyer asserts Title Defects, the value diminution of which is in excess of the Threshold Amount, and Seller elects to cure and cures such Title Defect, such Property shall be conveyed upon Closing, and the portion of the Purchase Price attributable to such Property shall be contemporaneously paid by Buyer to Seller in the same manner and to the same extent that such Property would have been treated if the Title Defect had not been asserted. In the event Seller fails to cure any Title Defect prior to Closing, then at Closing the Buyer shall elect to either waive the Title Defect and proceed to Closing or continue to assert the Title Defect. As to those Properties where a Title Defect continues to be asserted:
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Seller's Election to Cure. Seller shall have the right, but not the obligation, at any time prior to Closing, to cure any asserted Title Defect, or Environmental Defect; provided, however, any curing of a Defect shall be to the reasonable satisfaction of Buyer. The cost of curing any such Defect shall be at the sole cost of Seller.
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Related to Seller's Election to Cure

  • Purchaser's Election to Delay Foreclosure Proceedings (a) The Purchaser shall be deemed to direct the Company to direct (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the related Servicer that in the event that the Company does not receive written notice of the Purchaser's election pursuant to subsection (b) below within 24 hours (exclusive of any intervening non-Business Days) of transmission of the notice provided by the Company under Section 2.01 (a) (ii) subject to extension as set forth in Section 2.02(b), the related Servicer may proceed with the Commencement of Foreclosure in respect of such Mortgage Loan in accordance with its normal foreclosure policies without further notice to the Purchaser. Any foreclosure that has been initiated may be discontinued (i) without notice to the Purchaser if the Mortgage Loan has been brought current or if a refinancing or prepayment occurs with respect to the Mortgage Loan (including by means of a short payoff approved by the related Servicer) or (ii) if the related Servicer has reached the terms of a forbearance agreement with the borrower. In the latter case, the related Servicer may complete such forbearance agreement unless instructed otherwise by the Purchaser within two Business Days notification.

  • CONDITIONS PRECEDENT TO SELLER'S OBLIGATION TO CLOSE Sellers' obligation to sell the Shares and to take the other actions required to be taken by Sellers at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Sellers, in whole or in part):

  • Conditions to Seller’s Obligation to Close The obligation of the Seller to convey the Property to the Purchaser is subject to the satisfaction of the following conditions precedent on and as of the Closing Date:

  • Purchaser's Election to Commence Foreclosure Proceedings (a) In connection with any Mortgage Loan identified in a report under Section 2.01(a)(i)(B), the Purchaser may elect to instruct the Company to cause, to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement, the related Servicer to proceed with the Commencement of Foreclosure as soon as practicable. Such election must be evidenced by written notice received by the Company by 5:00 p.m., New York City time, on the third Business Day following the delivery of such report under Section 2.01(a)(i).

  • Seller's Conditions to Closing The obligations of the Seller under this Agreement shall be subject to the satisfaction, on or prior to the Closing Date, of the following conditions:

  • CONDITIONS PRECEDENT TO THE SELLER’S OBLIGATION TO CLOSE The Seller’s obligation to sell the Assets and to take the other actions required to be taken by the Seller at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by the Seller, in whole or in part, in writing):

  • Condition to Closing Buyer acknowledges and agrees that the Closing is contingent upon the closing of the IPO, and that if, for whatever reason, the IPO is not completed, the Company shall not be obligated to issue and sell the Restricted Shares and Buyer shall not be required to purchase the Restricted Shares and this Agreement may be terminated in accordance with Section 5(k) below.

  • CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE Buyer's obligation to purchase the Shares and to take the other actions required to be taken by Buyer at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Buyer, in whole or in part):

  • CONDITIONS PRECEDENT TO THE BUYER’S OBLIGATION TO PURCHASE The obligation of the Buyer hereunder to purchase the Note at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

  • Seller’s Conditions Precedent to Closing The obligation of Seller to consummate the transactions contemplated by this Agreement shall be subject to fulfillment at or prior to the Closing of the following conditions, any one or more of which may be waived in writing by Seller:

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