Title Assurances Sample Clauses
The Title Assurances clause serves to guarantee that the seller has clear and marketable title to the property being transferred. In practice, this clause typically requires the seller to affirm that there are no undisclosed liens, encumbrances, or claims against the title, and may obligate the seller to provide documentation such as a title report or insurance. Its core function is to protect the buyer from future disputes or losses related to defects in the property’s title, ensuring the buyer receives full ownership rights as intended.
Title Assurances. (1) The Title Policy referred to in Section 1.36 insuring that the Deed of Trust is a valid second priority lien on the indefeasible fee simple estate of the Property subject only to such matters of title acceptable to the City, and (2) such certificates, lien waivers, subordination agreements, indemnity agreements, and other documents as the City may require from the Borrower and all persons furnishing professional services, labor, or materials for construction of the Improvements to assure the priority of the Deed of Trust.
Title Assurances. Title opinions and/or other title information and data acceptable to Administrative Agent covering Proved Oil and Gas Properties that in the aggregate represent not less than 85% of the Recognized Value of all Oil and Gas Properties evaluated in the Initial Reserve Report, reflecting title to such Proved Oil and Gas Properties which is acceptable to Administrative Agent;
Title Assurances. Without limitation of any other requirements contained in this Agreement and the other Loan Documents, Borrower shall, (a) upon request by Administrative Agent, deliver to Administrative Agent title opinions and/or other title information and data acceptable to Administrative Agent regarding the Oil and Gas Properties of Borrower and its Subsidiaries that in the aggregate represent not less than 80% of the Recognized Value of all Proved Oil and Gas Properties evaluated in the most recent Reserve Report; and (b) promptly, but in any event within 30 days after notice by Administrative Agent of any defect, material in the opinion of Administrative Agent, in the title of the mortgagor under any Mortgage to any Oil and Gas Property covered thereby, clear such title defect, and in the event any such title defects are not cured in a timely manner, pay all related costs and fees incurred by Administrative Agent and Lenders in attempting to do so.
Title Assurances. (a) Without limitation of any other requirements contained in this Agreement and the other Loan Documents, Borrower shall, in connection with each delivery of a Reserve Report hereunder, deliver to Administrative Agent title opinions (to the extent in a Loan Party’s possession) and/or other title information and data reasonably acceptable to Administrative Agent regarding the Proved Oil and Gas Properties that in the aggregate represent not less than Required Reserve Value.
(b) If Borrower has provided title information for additional Proved Oil and Gas Properties under Section 7.13(a), Borrower shall, within sixty (60) days of notice from Administrative Agent that title defects or exceptions exist with respect to such additional Oil and Gas Properties, either (i) cure any such title defects or exceptions (including defects or exceptions as to priority) which are not Permitted Liens raised by such information, (ii) substitute acceptable Proved Oil and Gas Properties with no title defects or exceptions except for Permitted Liens having an equivalent value or (iii) deliver title information in form and substance acceptable to Administrative Agent so that Administrative Agent shall have received, together with title information previously delivered to Administrative Agent, acceptable title information on Proved Oil and Gas Properties constituting not less than Required Reserve Value. To the extent that the Administrative Agent or the Majority Lenders are not reasonably satisfied with title to any Mortgaged Property or the Borrower does not comply with the requirement to provide title information covering the Required Reserve Value, in either case, after such period of time has elapsed, such unacceptable Mortgaged Property shall not count towards the Title Coverage Minimum requirement, and the Administrative Agent may send a written notice to the Borrower and the Lenders that the PV-10 and Total PDP PV-10 for purposes of calculating asset coverage described in Section 9.3 for all purposes hereunder, shall be recalculated as determined by the Administrative Agent to exclude the property subject to a title defect or properties for which the Required Reserve Value is not satisfied that, in each case, the Borrower is unable (or has elected not) to cure. Furthermore, any properties described in such notice shall be excluded from the determination of PV-10 and Total PDP PV-10 for any other purpose of calculation under the Loan Documents unless the applicable title d...
Title Assurances. Within thirty (30) days (or such longer time as determined by Agent) after Agent advises Borrower that the oil and gas properties for which it has received title assurances reasonably acceptable to Agent is less than 80% of the Recognized Value of all Proved Mineral Interests evaluated in the most recent Reserve Report delivered to the Agent, Borrower shall provide to the Agent additional title opinions and/or other title information and data reasonably acceptable to Agent so that the Agent shall have received reasonably acceptable title assurances for at least 80% of the Recognized Value of all Proved Mineral Interests evaluated in such Reserve Report.
Title Assurances. The Acquiring Entity shall have delivered to the Administrative Agent title information and data acceptable to the Administrative Agent relating to title to the Mineral Interests in the Properties being acquired pursuant to the Future Acquisition Documents. These title assurances shall include such post closing title work as the Administrative Agent may request.
Title Assurances. The Borrower shall have delivered to the Administrative Agent title information and data acceptable to the Administrative Agent relating to title to the Mineral Interests in the Properties being acquired pursuant to the Future Acquisition Documents. These title assurances shall include a title indemnity, and such post closing title work as the Administrative Agent may request.
Title Assurances. Licensor assures Licensee that, to the best of Licensor's current actual knowledge, Licensor has good title to the Licensed Trademarks and the right to license the Property's use to Licensee, free of any proprietary rights of any other party or any other encumbrance whatever.
Title Assurances. Administrative Agent shall have received title opinions and/or other title information and data acceptable to Administrative Agent covering Oil and Gas Properties that in the aggregate represent not less than 80% of the Recognized Value of all Oil and Gas Properties evaluated in the Initial Reserve Report, reflecting title to the Oil and Gas Properties of Borrower and its Subsidiaries in such Oil and Gas Properties which is acceptable to Administrative Agent;
Title Assurances. The Borrower shall furnish or cause to be furnished to the Agent such information in its possession or reasonably available to it with respect to title to the Borrowing Base Assets as the Majority Banks may reasonably request and shall cooperate with the Agent and its counsel in analyzing such title. Where appropriate in the opinion of the Majority Banks and at the request of the Majority Banks, the Borrower shall correct material defects in such title, or, if the Borrower elects not to correct such defects in title, the Banks shall be entitled to an immediate redetermination of the Total Borrowing Base pursuant to Section 3.4.