Common use of Subsequent Matters Affecting Title Clause in Contracts

Subsequent Matters Affecting Title. Seller and Buyer shall promptly notify the other party if it becomes aware prior to Closing of any matters affecting title not specified in the Survey, Commitment, or the ALTA Supplement. Seller shall not create any new exceptions to title, and shall use all reasonable efforts to prevent any other person or entity from creating new exceptions to title to the Property prior to Closing. If Buyer becomes aware of any matters affecting title not specified in the Survey, Commitment, or the ALTA Supplement, all such subsequent matters shall be subject to Buyer’s approval as if they had been so disclosed, except that the Buyer shall in any event have no less than five (5) business days to review and either approve or disapprove such subsequent exceptions. If approved, such matters shall be deemed to be Permitted Exceptions.

Subsequent Matters Affecting Title. Seller Sellers and Buyer shall promptly notify the other party if it becomes aware prior to Closing of any matters affecting title not specified in the Survey, Commitment, or the ALTA Supplement. Seller Sellers shall not create any new exceptions to title, and shall use all reasonable efforts to prevent any other person or entity from creating new exceptions to title to the Property prior to Closing. If Buyer becomes aware of any matters affecting title not specified in the Survey, Commitment, or the ALTA Supplement, all such subsequent matters shall be subject to Buyer’s approval as if they had been so disclosed, except that the Buyer shall in any event have no less than five (5) business days to review and either approve or disapprove such subsequent exceptions. If approved, such matters shall be deemed to be Permitted Exceptions.