Common use of Title Insurance Commitments Clause in Contracts

Title Insurance Commitments. From and after the date of this Agreement, Parent shall deliver or cause to be delivered to Purchaser (at Purchaser's expense) title insurance commitments (collectively, the "Title Commitments") issued by First American Title Insurance Company or another nationally recognized title insurance company (the "Title Company") for all of the real property owned or leased by Target or any Target Subsidiary and reflected on the consolidated statement of financial condition of Target on December 31, 1998, which title commitments shall (a) confirm that Target or a Target Subsidiary, as applicable, owns fee title (or leasehold title in the case of the so-called Shopping Center Branch, Newport Road, New London, New Hampshire) in and to the real property free of material encumbrances, Liens and other title imperfections which would prevent transfer of such premises or use of such premises for banking operations, subject to the provisions of Schedule 4.24; (b) commit the Title Company, on the Closing Date, to issue to Purchaser or its designee, at commercially reasonable rates, an owner's (or leasehold, as the case may be) policy of title insurance for each such parcel of real property in an amount equal to the portion of the Purchase Price allocated to the same; and (c) Parent will cause the Title Insurance Policy on the ▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇, property to be transferred to ▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Corp.

Title Insurance Commitments. From and after the date of this Agreement, Parent shall deliver or cause to be delivered to Purchaser (at Purchaser's expense) title insurance commitments (collectively, the "Title CommitmentsTITLE COMMITMENTS") issued by First American Title Insurance Company or another nationally recognized title insurance company (the "Title CompanyTITLE COMPANY") for all of the real property owned or leased by Target or any Target Subsidiary and reflected on the consolidated statement of financial condition of Target on December 31, 1998, which title commitments shall (a) confirm that Target or a Target Subsidiary, as applicable, owns fee title (or leasehold title in the case of the so-called Shopping Center Branch, Newport Road, New London, New Hampshire) in and to the real property free of material encumbrances, Liens and other title imperfections which would prevent transfer of such premises or use of such premises for banking operations, subject to the provisions of Schedule 4.24; (b) commit the Title Company, on the Closing Date, to issue to Purchaser or its designee, at commercially reasonable rates, an owner's (or leasehold, as the case may be) policy of title insurance for each such parcel of real property in an amount equal to the portion of the Purchase Price allocated to the same; and (c) Parent will cause the Title Insurance Policy on the ▇▇ ▇80 S▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇, property ▇▇operty to be transferred to ▇▇ ▇80 S▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Corp.▇▇▇p.