Title Binders Clause Samples
A Title Binders clause establishes the use of a temporary title insurance policy, known as a binder, to provide interim coverage for a property buyer or lender until a formal title insurance policy is issued. In practice, this clause allows parties to proceed with a real estate transaction while the final title search and policy preparation are still underway, ensuring that the interests of the buyer or lender are protected against title defects during this interim period. The core function of this clause is to facilitate smooth and timely closings by bridging the gap between contract signing and the issuance of permanent title insurance, thereby reducing delays and mitigating risk during the transaction process.
Title Binders. 22 Section 4.5 Bankruptcy Court Matters . . . . . . . . . . . . . . . . . . . . . 22
Title Binders. Seller shall provide Buyer with an ALTA survey of the Real Property Interests meeting the requirements set forth on Schedule 4.4 to this Agreement and commitments for title insurance issued by such title company as may be reasonably designated by Buyer showing good and marketable title to the Real Property Interests in Seller, and committing to issue an owner's title insurance policy (ALTA) (the "Title Policy") to Buyer in amounts reasonably determined by Buyer with extended coverage subject only to Liens and Permitted Exceptions (the "Title Binders").
Title Binders. Seller shall obtain, at its expense, commitments for title insurance issued by such title company as may be designated by Buyer showing good and marketable title to the Real Property Interests in Seller, and cause to be issued, at its expense, an
Title Binders. (a) As soon as reasonably practicable (but in no event later than the earlier of (i) forty-five (45) days following the date of this Agreement, or (ii) the forty-fifth (45th) day prior to Closing), Sellers will deliver to the Purchaser a title commitment (each, a “Binder”) covering each tract of the Company Real Estate and binding the Title Company to issue an ALTA Owner’s Policy of Title Insurance (the “ALTA Policy”) insuring title to such tract. The amount of the ALTA Policy shall be equal to the amount of the purchase price allocated to the Company Real Estate as determined pursuant to Section 1.06. At the same time as any Binder is delivered to Purchaser, or as soon as reasonably practicable thereafter, Sellers will deliver to Purchaser true, correct and legible copies of any and all instruments referred to in such Binder as constituting exceptions or restrictions upon the title covered thereby.
(b) Any exceptions set forth in any Binder or Survey and not objected to by Purchaser within twenty (20) days of its receipt of such Binder (together with copies of all available documents listed in such Binder and the Survey for the property covered by such Binder), shall be Permitted Exceptions hereunder. If Purchaser notifies the Sellers in writing of any such objections (the “Objections”) within such twenty (20) day period, then, within ten (10) days after Sellers’ receipt of such notice from Purchaser, the Sellers shall notify Purchaser in writing (the “Sellers’ Title Response Notice”) of the Objections which Sellers agree to satisfy at or prior to the Closing (at the Sellers’ sole cost and expense) and of the Objections that the Sellers cannot or will not satisfy. Anything in this Agreement to the contrary notwithstanding, the Sellers shall only be obligated to cure (i) those Objections that are mortgages placed against the Company Real Estate by the Sellers (or any of their respective affiliates), (ii) encumbrances that have been voluntarily placed against the Company Real Estate by the Sellers after the date of this Agreement and before the Closing Date, and (iii) monetary judgments against the Sellers which constitute Liens on the Company Real Estate (collectively the “Required Objections”). If the Sellers choose not to satisfy all or any of the Objections that are not Required Objections (any such Objection that will not be satisfied, an “Unsatisfied Objection”), Sellers shall notify Purchaser thereof within the applicable ten (10) day period. If any ...
Title Binders. 36 Section 9.2
Title Binders. 25 7.5.1 Talisman Real Property.................................................................25 7.6. Transferor's Real Property......................................................................25 7.7. Environmental Matters...........................................................................26 7.7.1 Talisman Real Property.................................................................26 7.7.2 Transferor's Real Property.............................................................27 7.8. Indemnification by Talisman and St. Joe.........................................................29 8. Conditions Precedent to Closing..........................................................................31 8.1. Talisman Conditions Precedent...................................................................31 8.2. District, TNC and DOI Conditions Precedent......................................................32 8.3. Transferor Conditions Precedent.................................................................33 8.4. Obligations to Complete Conditions Precedent....................................................34 8.5. Failure of Conditions Precedent.................................................................34