Title Exceptions Sample Clauses
The Title Exceptions clause identifies specific items or issues that are excluded from the guarantee of clear title in a real estate transaction. In practice, this clause lists exceptions such as easements, liens, or other encumbrances that will remain on the property even after the transfer of ownership. By clearly outlining these exceptions, the clause ensures that both parties are aware of any limitations on the title, thereby preventing future disputes and allocating risk regarding title defects.
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Title Exceptions. If the title commitment discloses exceptions relating to title other than: (1) those referred to above and (2) liens and encumbrances of a definite or ascertainable amount which may be removed by the payment of money at the time of closing and which SELLER may remove at the time of closing by using the funds to be paid upon delivery of the deed, SELLER shall have thirty (30) days from the date of the title commitment to have those exceptions removed from the commitment or have the title insurance company commit to insure against loss or damage that may be occasioned by such exceptions. If SELLER fails to have those exceptions removed or insured over within that time, BUYER may terminate this Agreement or may elect, upon notice to SELLER within ten (10) days after the expiration of the thirty (30) day period, to take title as it then is with the right to deduct from the purchase price, liens or encumbrances of a definite or ascertainable amount. If BUYER does not so elect, this Agreement shall become null and void without further notice to the parties, and all moneys heretofore paid by BUYER shall be refunded to BUYER.
Title Exceptions. The SAWS Land will be conveyed without warranty of title and subject to (i) all visible and apparent easements (ii) all matters of record relating to the SAWS Land as shown in the Real Property Records of Bexar County, Texas, (iii) all applicable zoning, platting and other governmental ordinances, laws, rules and regulations and (iv) the Reserved Easement (hereinafter defined in Section 12 below) (collectively, the “Permitted Exceptions”). SAWS makes no representations about whether the SAWS Land has access to any public right of way. Additionally, the Successful Bidder must obtain any applicable permits for Successful Bidder’s use of the SAWS Land and Successful Bidder must assemble the SAWS Land with any adjoining property owned by Successful Bidder and plat such properties, to the extent required by the San Antonio Uniform Development Code, which obligations shall survive Closing (hereinafter defined).
Title Exceptions. At Closing, the general warranty deed will be subject to subdivision and/or condominium declarations, covenants, restrictions and easements of record, which may impose obligations and may limit the use of the Property by Buyer.
Title Exceptions. Copies of all recorded documents creating exceptions to each title policy referred to in clause (a) above;
Title Exceptions. To the best of Borrower’s knowledge after due inquiry and investigation, none of the items shown in the schedule of exceptions to coverage in the title policy issued to and accepted by Lender contemporaneously with the execution of this Loan Agreement and insuring Lender’s interest in the Mortgaged Property will have a Material Adverse Effect on the (a) ability of Borrower to pay the Loan in full, (b) ability of Borrower to use all or any part of the Mortgaged Property in the manner in which the Mortgaged Property is being used on the Closing Date, except as set forth in Section 6.03, (c) operation of the Mortgaged Property, or (d) value of the Mortgaged Property.
Title Exceptions. (i) Within ten (10) Business Days after the date upon which Purchaser has received any draft Title Commitment or Survey (the “Initial Objection Date”), Purchaser’s counsel shall notify Sellers’ counsel in writing of any title matters (subject to the last sentence of this Section 8.8(e)(i)) shown on such draft Title Commitment or Survey that (A) materially impair the use or value of any Owned Real Property (other than any pipeline pump stations), as applicable, and (B) are not Permitted Encumbrances (collectively referred to as “Material Title Exceptions”). With respect to any matter affecting title first appearing in any draft update to any Title Commitment in respect of such Owned Real Property, which draft update is first received by Purchaser’s counsel ten (10) Business Days prior to or on or after the Initial Objection Date, Purchaser’s counsel shall notify the Sellers’ counsel of any such matter that Purchaser believes constitutes Material Title Exceptions within ten (10) days after receipt of such update (such date and the Initial Objection Date are sometimes referred to herein as the “Objection Date”). If Purchaser fails to give an objection notice pursuant to this Section 8.8(e) with respect to any matter shown in any draft Title Commitment or Survey (or any draft update thereto) with respect to such Owned Real Property on or before the applicable Objection Date, Purchaser shall be deemed to have irrevocably waived its right to object to such matter as a Material Title Exception. Without limiting the generality of the foregoing, the Parties agree that (1) the items set forth on Schedule 8.8(e)(i), (2) any Environmental 43 Liability and (3) any regulatory or Permit matter necessary for the ownership or use of any Owned Real Property shall not be deemed to be Material Title Exceptions.
(ii) No later than five (5) Business Days prior to the Closing Date, Sellers shall be deemed to have removed, satisfied or cured a Material Title Exception if, in Sellers’ sole and absolute discretion, Sellers either: (A) took such actions as are commercially reasonable to remove, satisfy or cure (of record or otherwise, as appropriate) such Material Title Exception; or (B) caused any applicable title company to remove such Material Title Exception as an exception to title in any new or updated Title Commitment or policy to be issued at or around the Closing (including by providing affirmative insurance). Notwithstanding anything contained herein to the contrary, Selle...
Title Exceptions. The Administrative Agent shall have received copies of all recorded documents creating exceptions to the title policy referred to in Section 4.2(c)(v).
Title Exceptions. To the best of Borrower’s knowledge after due inquiry and investigation, none of the items shown in the schedule of exceptions to coverage in the Title Policy will have a Material Adverse Effect on the (a) ability of Borrower to pay the Loan in full, (b) ability of Borrower to use all or any part of the Mortgaged Property in the manner in which the Mortgaged Property is being used on the Closing Date, except as set forth in Section 6.03, (c) operation of the Mortgaged Property, or (d) value of the Mortgaged Property.
Title Exceptions. To the best of Borrower’s knowledge after due inquiry and investigation, none of the items shown in the schedule of exceptions to coverage in the title insurance policy issued to and accepted by Lender contemporaneously with the execution of this Loan Agreement and insuring Lender’s interest in the Mortgaged Property (“Permitted Encumbrances”) will have a Material Adverse Effect on the: (a) ability of Borrower to pay the Loan in full, (b) ability of Borrower to use all or any part of the Mortgaged Property in the manner in which the Mortgaged Property is being used on the Effective Date, (c) operation of the Mortgaged Property, or (d) value of the Mortgaged Property.
Title Exceptions. On or before expiration of the Due Diligence Period, Buyer may give written notice to Seller of any objections Buyer may have with respect to any conditions affecting the Property or as disclosed by the Title Commitment (the "Title Objections"