Title and Survey Objections. The Purchaser shall have until expiration of the Feasibility Period to report to Seller in writing any survey or title defects or other objections regarding the Property that are disclosed by Purchaser's examinations, other than the Permitted Exceptions (as to which Purchaser has waived any objection), which, in Purchaser's sole discretion, materially adversely affect use of the Property as currently operated or make the title to the Property uninsurable or which impose restrictions on future use of the Property which are not acceptable to Purchaser. Seller shall have the right, but not the duty to cure any such title objections reported by Purchaser. If the Seller is unable or unwilling to cure objections to the Purchaser's satisfaction prior to Settlement then, notwithstanding anything herein to the contrary, the Purchaser shall, at its option, either (i) terminate this Agreement, in which event the Deposit shall be refunded; or (ii) waive such defects and proceed to Settlement, with no reduction in the Purchase Price; provided, however, that all mortgages, deeds of trusts and other monetary liens may be paid at Settlement, and the parties hereby authorize application of the Purchase Price proceeds to effect the same. If any additional matters of record are created after the date of the examination of title contemplated hereby, and prior to Settlement, Purchaser shall have the right to further delay Settlement a reasonable time to permit Seller to complete curative action. Any matters of title or survey not timely objected to by Purchaser or which are reported but not cured by Settlement shall be deemed waived.
Title and Survey Objections. Within five (5) Business Days after Purchaser receives the last of the Title Commitment, the Title Documents, and the Survey, Purchaser shall deliver to Seller a list of any objections to title and survey matters with respect to the Premises (the “Title Objections”). Seller shall be obligated to cause any Title Objections relating to financing liens, mechanic’s, materialmen’s or similar liens, tax liens or delinquent taxes (including interest and penalties), and leases or other occupancy rights or agreements to be deleted from the Title Commitment prior to or at the Closing, and if Seller fails to do so, Purchaser may, in addition to all other rights and remedies, deduct from the Purchase Price any liens or encumbrances of a definite or ascertainable amount. Failure to object within five (5) business days time period shall be deemed a waiver of Purchaser’s right to object. Any such exceptions not objected to by Purchaser shall be deemed a waiver of Purchaser’s right to object. Any such exceptions not objected to by Purchaser shall be deemed to be Permitted Exceptions (as hereinafter defined). Purchaser hereby agrees to the exceptions set forth on Exhibit D (and same are hereby Permitted Exceptions). Within five business (5) days after Seller receives the Title Objections, Seller shall notify Purchaser in writing of any Title Objections which Seller either refuses to cure or is unable to cure in the manner specified in Purchaser’s notice, provided that Seller shall be obligated to cure the Title Objections described in the immediately preceding sentence. In addition, notwithstanding anything contained herein to the contrary, at the Closing, Seller shall pay all Taxes assessed against the Premises which are due and payable at the time of the Closing. Purchaser shall have the right, by giving notice to Seller within five (5) Business Days after Purchaser is notified by Seller of its refusal or inability to cure any one or more of the Title Objections in the manner specified in Purchaser’s notice, to: (i) terminate this Agreement, or (ii) elect to proceed pursuant to this Agreement, thereby waiving its objection to such Title Objections described in Seller’s notice. For purposes of this Agreement, the term “Permitted Exceptions” means (i) title matters that are disclosed by the Title Commitment or as set forth on Exhibit C and are not identified by Purchaser as Title Objections, and (ii) any Title Objections waived by Purchaser as provided above. If Purchaser ...
Title and Survey Objections. Within ten (10) days of receipt of the Commitment and Survey, Purchaser shall notify Seller in writing of any matters identified in the Commitment or Survey which Purchaser disapproves ("Objections"). Any title or survey matter that is set forth in the Commitment or shown on the Survey, but not timely objected to in writing by the Purchaser, will be conclusively deemed approved by Purchaser and will constitute a "Permitted Exception" hereunder. Within five (5) days of Seller's receipt of Purchaser's Objections, Seller shall notify Purchaser in writing of any such Objections that Seller is unable or unwilling to cause to be removed or insured over prior to or at the Closing. If Seller does not respond within such five (5) day period, Seller shall be deemed to have elected to cure such Objections. If Seller does not agree to cure the Objections, Purchaser shall elect, by giving written notice to Seller and Escrow Agent within five (5) days after receipt of Seller's notice, to either (i) terminate this Agreement and obtain a refund of the Xxxxxxx Money Deposit, or (ii) waive its Objections, in which case the same will be deemed to be Permitted Exceptions under this Agreement. If Purchaser elects to terminate this Agreement, the Xxxxxxx Money Deposit shall be immediately returned to Purchaser (along with any interest accrued thereon), and neither Party shall have any further rights or obligations under this Agreement except those rights and obligations that expressly survive termination. Notwithstanding the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before the Closing of all liens and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of money.
Title and Survey Objections. Notwithstanding anything to the contrary contained in the Purchase Agreement, the parties hereby acknowledge and agree to the following:
Title and Survey Objections. The parties acknowledge that Buyer provided to Seller a notice of Title Objections dated August 19, 2011 (the “Objections Notice”), and Seller provided to Buyer a response thereto in the form of a letter dated August 24, 2011 from Xxxxxxx X. Xxxxxx, as counsel to Seller (“Seller’s Response”). Notwithstanding anything contained in the penultimate paragraph of Seller’s Response to the contrary, the parties agree that the parties’ rights and obligations with respect to title and survey related matters, as set forth in the Agreement, shall be deemed modified to the extent of the actions and matters to which Seller agreed pursuant to the numbered paragraphs of Seller’s Response.
Title and Survey Objections. At such time as Xxxxx has received both the Title Commitment (with all underlying documents and the vesting deed) and the Survey, Buyer shall have ten (10) days in which to examine the Title Commitment and the Survey and notify Seller, in writing, of those items (“Encumbrances”) which Xxxxx finds objectionable. Buyer's failure to object to Encumbrances within the time allowed shall constitute a waiver of Buyer's right to object and such Encumbrances shall be deemed Permitted Exceptions, except that satisfaction of the requirements of Schedule C of the Title Commitment shall not be deemed to have been waived. If objections are made by Buyer within the time allowed, Seller, at its sole cost and expense, shall have the right, but not the obligation to cure or remove the Encumbrances that Buyer has objected to, give Buyer written notice thereof, and deliver within ten (10) days of the date of Buyer's notice, an amended Survey and/or Title Commitment reflecting the cure of such matters. If any of such objections are not cured by Seller within such ten (10) day cure period, Buyer shall have the right to terminate this Agreement no later than five (5) days after Seller’s cure period, whereupon the Xxxxxxx Money shall be refunded to Buyer. In the event Buyer fails to timely terminate this Agreement, Buyer shall be deemed to have waived any outstanding objections.
Title and Survey Objections. If the Title Commitment identifies exceptions to title other than Permitted Encumbrances, then Buyer shall advise Seller in writing, not later than thirty (30) days after the Effective Date (the “Title Objection Period”), what exceptions to title will not be accepted by Xxxxx. If Buyer elects at its sole option to obtain an Updated Survey, the Title Objection Period shall be extended with respect to any title exceptions which relate to the Updated Survey (the “Survey-Related Exceptions”) such that Buyer shall have until the later of five (5) Business Days after actual receipt of the Updated Survey or the end of the Title Objection Period (the “Survey Review Period”) to review and approve or disapprove the Updated Survey and all Survey-Related Exceptions; provided, however, that within five (5) Business Days after Xxxxx’s receipt of the Existing Survey (or Seller’s notification that no Existing Survey exists), Buyer shall notify Seller of Buyer’s election to obtain an Updated Survey and shall order the Updated Survey. Buyer’s failure to notify Seller of any objections to title exceptions shall, upon expiration of the Title Objection Period (as it may be extended), constitute Buyer’s approval of the Title Commitment and all excep tions and of the condition of title to the Property, and of all matters revealed by the Existing Survey and any Updated Survey.
Title and Survey Objections. Purchaser may, at its sole expense, obtain a title insurance commitment and a survey for the Property. Prior to the expiration of the Feasibility Period, Purchaser shall notify the Seller in writing as to any title or survey objections regarding the Property that the Purchaser is unwilling to accept (collectively the “Title Objections”). Seller shall advise Purchaser in writing within ten (10) days after receipt of such notice, which if any of the Title Objections will not be cured by Seller at or prior to Settlement. If Seller fails to respond to Purchaser within such ten (10) day period or if Seller’s response indicates that it does not intend to cure one or more of the Title Objections, then Purchaser may, at its option either (i) terminate this Agreement by Authentisign ID: 9CAA2C48-9899-49C7-8E94-49B589867ABA giving written notice to Seller; (ii) cure such Title Objections at its own expense and proceed to Settlement with no reduction in the Purchase Price; or (iii) waive such Title Objections and proceed to Settlement, with no reduction in the Purchase Price. If Purchaser elects to terminate this Agreement, the Deposit shall be refunded in full to Purchaser and the parties shall have no further obligation or liability to one another, except for any liability pursuant to the indemnity provisions of Paragraphs 4D., 10 and 11.
Title and Survey Objections. X. Xxxxxxxxx, at Purchaser’s sole cost and expense, shall obtain a current and accurate ALTA/NSPS survey of the Land and Seller’s Remaining Land (the “Survey”) signed and certified to Seller, Purchaser and the Title Company, by a licensed Massachusetts surveyor, and separately showing proposed boundaries of the Land and Seller’s Remaining Land for the Subdivision Plat (hereinafter defined), including complete legal descriptions of the Land and Seller’s Remaining Land (including the number of acres to the nearest 1/100th of an acre and the square feet contained therein). Purchaser shall deliver a copy of the Survey to Seller promptly after receipt by Purchaser.
Title and Survey Objections. (a) On or before the expiration of the Title and Survey Review Period, the Valero Member may object to any items related to the Commitment and Survey that could interfere with the anticipated use of the Real Property by the Company for the Business (a “Defect”). If the Valero Member fails to object to any Defect by written notice to the Frontier Member and JML prior to expiration of the Title and Survey Review Period, the Valero Member shall be deemed to have elected not to object to such item. The Valero Member shall give the Frontier Member and JML written notice of its objections to a Defect (herein the “Title and Survey Objections”) prior to expiration of the Title and Survey Review Period. All of the exceptions set forth on the Commitment or the Survey not objected to or which are deemed not objected to by the Valero Member on or before the expiration of the Title and Survey Review Period shall constitute the “Permitted Exceptions.”
