Common use of Supplemental Title Commitment Clause in Contracts

Supplemental Title Commitment. In the event the Title Company issues one or more supplemental Title Commitments, the “Title Commitment” shall be deemed amended to incorporate the changes reflected in such supplemental Title Commitments. Notwithstanding the foregoing, Buyer shall have three (3) business days following receipt by Buyer of a supplemental Title Commitment to deliver a supplemental Buyer's Title Notice with respect to any new item not shown on either the Title Commitment or any existing survey delivered to Buyer as part of the Property Files. Within two (2) business days following Seller's receipt of the supplemental Buyer's Title Notice, Seller (with Limited Partner Consent) shall provide Buyer with a supplemental Seller's Title Notice. If Buyer has timely delivered a supplemental Buyer's Title Notice and Seller elects (or is deemed to have elected) to proceed (in whole or in part) in accordance with clause (B) of Paragraph 8(a)(ii) of this Agreement, then Buyer shall have until the earlier of (a) the Closing Date and (b) 10 days following receipt by Buyer of a supplemental Title Commitment to terminate this Agreement by delivering written notice thereof to Seller and Escrow Agent, in which case the Deposit shall be returned to Buyer and the other provisions of Paragraph 9(c) of this Agreement shall govern. If Buyer shall fail to provide Seller and Escrow Agent with written notice of termination on or before such date, then Buyer shall be deemed to have waived all of its objections to the items appearing in such supplemental Title Commitment (except with respect to the Rejected Exceptions). Except as expressly modified herein, the provisions of Paragraph 8(a) of this Agreement, including, without limitation, the timing and effect of any notices to be delivered and the effect of any failure to deliver same, shall govern with respect to any such additional Buyer's Title Notice.

Supplemental Title Commitment. In the event the Title Company issues one or more supplemental Title CommitmentsCommitments following the expiration of the Contingency Period, the “Title Commitment” shall be deemed amended to incorporate the changes reflected in such supplemental Title Commitments. Notwithstanding the foregoing, Buyer Purchaser shall have three five (35) business days following receipt by Buyer Purchaser of a any such supplemental Title Commitment issued after the expiration of the Contingency Period to deliver a supplemental Buyer's Purchaser’s Title Notice with respect to any new item not shown on either the prior Title Commitment; provided, however, any new item disclosed in the supplemental Title Commitment or any existing survey which is not expressly approved in writing by Purchaser in a supplemental Purchaser’s Title Notice delivered to Buyer as part of the Property Fileswithin such five (5) business day period shall be deemed disapproved by Purchaser. Within two (2) business days following Seller's ’s receipt of the Purchaser’s disapproval (or deemed disapproval) of any matter shown in a supplemental Buyer's Title NoticeCommitment, Seller (with Limited Partner Consent) shall provide Buyer Purchaser with a supplemental Seller's Title ’s Response Notice. If Buyer has timely delivered a Seller does not agree to cure and remove all matters in the supplemental Buyer's Purchaser’s Title Notice and Seller elects (or is deemed in a manner reasonably satisfactory to have elected) to proceed (in whole or in part) in accordance with clause (B) of Paragraph 8(a)(ii) of this AgreementPurchaser, then Buyer Purchaser shall have until the earlier of that date which is ten (a10) the Closing Date and (b) 10 business days following receipt by Buyer Purchaser of a supplemental Title Commitment to terminate this Agreement by delivering written notice thereof to Seller and Escrow AgentEscrowee to either (A) terminate this Agreement, in which case event the Deposit Deposit, and if applicable, the Additional Deposit, shall be returned refunded to Buyer and the other provisions of Paragraph 9(c) of Purchaser, this Agreement shall governbecome null and void (except for those provisions that expressly survive the termination of this Agreement) and the parties shall have no further obligations hereunder (except pursuant to those provisions that expressly survive the termination of this Agreement), or (B) proceed to close this transaction without any deduction to the Purchase Price, in which event the matters shown on the supplemental Title Commitment that Seller does not agree to cure or remove shall be deemed to be additional Permitted Exceptions. If Buyer shall fail to provide Purchaser does not notify Seller and Escrow Agent with Escrowee by written notice of termination on or before within such dateten (10) business day period that Purchaser will accept the matter(s) shown in the supplemental Title Commitment, then Buyer Purchaser shall be deemed to have waived all of its objections elected to terminate this Agreement in which event the items appearing in such supplemental Title Commitment Deposit, and if applicable, the Additional Deposit, shall be refunded to Purchaser, this Agreement shall become null and void (except with respect to for those provisions that expressly survive the Rejected Exceptions). Except as expressly modified herein, the provisions of Paragraph 8(a) termination of this Agreement, including, without limitation, the timing and effect of any notices to be delivered ) and the effect parties shall have no further obligations hereunder (except pursuant to those provisions that expressly survive the termination of any failure this Agreement). The Closing Date shall be extended for such period as is necessary to deliver same, shall govern with respect to any such additional Buyer's Title Noticeaccommodate the time periods set forth in this Paragraph 5.3(c).

Supplemental Title Commitment. In the event the Title Company issues one or more supplemental Title Commitments, the “Title Commitment” shall be deemed amended to incorporate the changes reflected in such supplemental Title Commitments. Notwithstanding the foregoing, Buyer shall have three five (35) business days following receipt by Buyer of a supplemental Title Commitment to deliver a supplemental Buyer's ’s Title Notice with respect to any new item not shown on either the Title Commitment or any existing survey delivered to Buyer as part of the Property Files. Within two (2) business days following Seller's ’s receipt of the supplemental Buyer's ’s Title Notice, Seller (with Limited Partner Consent) shall provide Buyer with a supplemental Seller's ’s Title Notice. If Buyer has timely delivered a supplemental Buyer's ’s Title Notice and Seller elects (or is deemed to have elected) to proceed (in whole or in part) in accordance with clause (B) of Paragraph 8(a)(ii) of this Agreement, then Buyer shall have until the earlier of (a) the Closing Date and (b) 10 ten (10) calendar days following receipt by Buyer of a supplemental Title Commitment to terminate this Agreement by delivering written notice thereof to Seller and Escrow Agent, in which case the Deposit shall be returned delivered to the Buyer and the other provisions of Paragraph 9(c) of this Agreement shall govern. If Buyer shall fail to provide Seller and Escrow Agent with written notice of termination on or before such date, then Buyer shall be deemed to have waived all of its objections to the items appearing in such supplemental Title Commitment (except with respect to the Rejected Exceptions). Except as expressly modified herein, the provisions of Paragraph 8(a) of this Agreement, including, without limitation, the timing and effect of any notices to be delivered and the effect of any failure to deliver same, shall govern with respect to any such additional Buyer's ’s Title Notice.

Supplemental Title Commitment. In the event the Title Company issues one or more supplemental Title Commitments, the “Title Commitment” shall be deemed amended to incorporate the changes reflected in such supplemental Title Commitments. Notwithstanding the foregoing, Buyer shall have three (3) business days following receipt by Buyer of a supplemental Title Commitment to deliver a supplemental Buyer's ’s Title Notice with respect to any new item not shown on either the Title Commitment or any existing survey delivered to Buyer as part of the Property Files. Within two (2) business days following Seller's ’s receipt of the supplemental Buyer's ’s Title Notice, Seller (with Limited Partner Consent) shall provide Buyer with a supplemental Seller's ’s Title Notice. If Buyer has timely delivered a supplemental Buyer's ’s Title Notice and Seller elects (or is deemed to have elected) to proceed (in whole or in part) in accordance with clause (B) of Paragraph 8(a)(ii) of this Agreement, then Buyer shall have until the earlier of (a) the Closing Date and (b) 10 days following receipt by Buyer of a supplemental Title Commitment to terminate this Agreement by delivering written notice thereof to Seller and Escrow Agent, in which case the Deposit shall be returned to Buyer and the other provisions of Paragraph 9(c) of this Agreement shall govern. If Buyer shall fail to provide Seller and Escrow Agent with written notice of termination on or before such date, then Buyer shall be deemed to have waived all of its objections to the items appearing in such supplemental Title Commitment (except with respect to the Rejected Exceptions). Except as expressly modified herein, the provisions of Paragraph 8(a) of this Agreement, including, without limitation, the timing and effect of any notices to be delivered and the effect of any failure to deliver same, shall govern with respect to any such additional Buyer's ’s Title Notice.