Common use of Title Commitments Clause in Contracts

Title Commitments. Within 20 Business Days after the date hereof, the Parents will jointly retain one or more title companies to prepare title commitments for all of the Contributed Subsidiaries’ Owned Real Property and each of the other properties set forth on Schedule 5.07(a)(i) (all such properties for which title commitments are received, the “Title Reviewed Properties”). The title companies will be jointly selected by the Parents in good faith and will be reputable and of a size commensurate for the nature of the properties being evaluated. The Parents will direct the title companies to prepare the title commitments as promptly as reasonably practicable, and in any case within 30 Business Days of their retention. The Parents will share the costs of the title commitments as follows: 44% for each of Oracle and ▇▇▇▇▇▇, and 12% for Iris.