Common use of Title Insurance Policy Clause in Contracts

Title Insurance Policy. The Administrative Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Date. Each such policy shall (i) be in the amount set forth with respect to such policy in Part I of Schedule 6.1(n); (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n); and (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Agent shall have received in respect of each parcel of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue owned real property covered by a Mortgage a mortgagee’s 's title policy (or policies) or marked up unconditional (except with respect to any matter which may be shown on a related survey) binder for such insurance dated the Closing Datedate of the recording of such Mortgage. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I Administrative Agent but no more than the value of Schedule 6.1(n)the particular property; (ii) insure that the Mortgage insured thereby creates a valid first (or, in the case of the property so indicated on Schedule 6.1(a), a second) Lien on the Mortgaged Property encumbered thereby such parcel free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n); Administrative Agent may reasonably request and (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent)First American Title Insurance Company. The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, copy certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Agent shall have received in respect of each parcel of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue owned real property covered by a Mortgage a mortgagee’s 's title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Datedate of the recording of such Mortgage. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I of Schedule 6.1(n)Administrative Agent; (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby such parcel free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n); Administrative Agent may reasonably request and (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, copy certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Collateral Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Date. Each such policy shall (i) be in the amount set forth with respect to such policy in Part I of Schedule 6.1(n5.1(k), but in no event greater than 110% of the higher of appraised and tax value of each Mortgaged Property; (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property Properties encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and 8.3 subsection 6.10 and such as may be approved by the Administrative Collateral Agent, and except for Permitted Liens; (iii) name the Administrative Collateral Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage coverage, as reasonably agreed to by the Collateral Agent and the Borrower, as were contained in the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n5.1(k); and (vi) be issued by Xxxxxxx Title Insurance Company or any other title companies reasonably satisfactory to the Administrative Collateral Agent (including with any such other reasonably satisfactory title companies acting as co-insurers or reinsurers, at the option of the Administrative Collateral Agent). The Administrative Collateral Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paidpaid or other reasonably satisfactory arrangements have been made. The Administrative Collateral Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Collateral Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Collateral Agent.

Title Insurance Policy. The Administrative Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s title policy (or policies) or marked up unconditional binder for such in the form of the pro forma mortgage loan title insurance dated the Closing Datepolicies described in Part II of Schedule 6.1(k). Each such policy shall (i) be in the amount set forth with respect to such policy in Part I of Schedule 6.1(n6.1(k); (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in the ALTA Loan Policy listed with respect to such policy pro forma mortgage loan title insurance policies set forth in Part II of Schedule 6.1(n6.1(k); and (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent)Sxxxxxx Title Guaranty Company. The Administrative Agent shall 95 have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Agent shall have received in respect of each of the Insured Fee Mortgaged Properties (other than the real properties owned by the Borrower located in LeSuxxx, Xxnnesota and Mortgaged Leased Properties an irrevocable written commitment to issue Burnsville, Minnesota) a mortgagee’s 's title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Effective Date. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I of Schedule 6.1(n)Administrative Agent; (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained the Administrative Agent may reasonably request; provided that, in the ALTA Loan Policy listed with respect to such policy case of zoning endorsements, if any, no additional premiums will be required in Part II excess of Schedule 6.1(n); and $2,000 per property, (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent) and (vii) be issued at ordinary rates (other than with respect to affirmative insurance). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties Existing Mortgagee Title Policies an irrevocable written commitment to issue a mortgagee’s title policy endorsement or endorsements (or policiescollectively, the "ENDORSEMENTS") or marked up unconditional binder for the issuance of such insurance Endorsements dated the Closing Date. Each such policy of the Endorsements shall modify the relevant Existing Mortgage Title Policy to (i) be in the amount set forth with respect to such policy in Part I of Schedule 6.1(n); (ii) insure that the Mortgage insured thereby creates (as amended) continues to be a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iiiii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; and (iviii) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n); and (vi) be issued by title companies substance reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policyof the Endorsements, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies Endorsements referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Collateral Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Date. Each such policy shall (i) be in the amount set forth with respect to such policy in Part I of on Schedule 6.1(n6.1(j); (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 Sections 7.10 and 8.3 and such as may be approved by the Administrative Collateral Agent; (iii) name the Administrative Collateral Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in reasonably agreed to by the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n)Collateral Agent and the Parent Borrower; and (vi) be issued by First American Title Insurance Company or any other title companies reasonably satisfactory to the Administrative Collateral Agent (including with any such other reasonably satisfactory title companies acting as co-insurers or reinsurers, at the option of the Administrative Collateral Agent). The Administrative Collateral Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paidpaid or other reasonably satisfactory arrangements have been made. The Administrative Collateral Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection Section 6.1(j) and a copy, certified by such parties as the Administrative Collateral Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Collateral Agent.. 176

Title Insurance Policy. The Administrative Collateral Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Date. Each such policy shall (i) be in the amount set forth with respect to such policy in Part I of on Schedule 6.1(n6.1(j); (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 Sections 7.10 and 8.3 and such as may be approved by the Administrative Collateral Agent; (iii) name the Administrative Collateral Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in reasonably agreed to by the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n)Collateral Agent and the Parent Borrower; and (vi) be issued by First American Title Insurance Company or any other title companies reasonably satisfactory to the Administrative Collateral Agent (including with any such other reasonably satisfactory title companies acting as co-insurers or reinsurers, at the option of the Administrative Collateral Agent). The Administrative Collateral Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paidpaid or other reasonably satisfactory arrangements have been made. The Administrative Collateral Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection Section 6.1(j) and a copy, certified by such parties as the Administrative Collateral Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Collateral Agent.

Title Insurance Policy. The Administrative Agent Borrower shall have received furnished to the Administrative Agent, no later than 60 days after the date hereof, in respect of each of the Insured Fee Properties and Mortgaged Leased Properties an irrevocable written commitment to issue parcel covered by each Mortgage a mortgagee’s 's title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Datedate of the recording of such Mortgage. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I of Schedule 6.1(n)Administrative Agent and the Other Representatives; (ii) insure that the each Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby such parcel free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and Section 8.3 and such as may be approved by the Administrative Agent, provided that those defects and encumbrances originally approved by the Administrative Agent in connection with the Existing Credit Facility shall be approved in connection herewith; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained the Administrative Agent may reasonably request, provided that those endorsements and affirmative coverage originally received by the Administrative Agent in connection with the ALTA Loan Policy listed Existing Credit Facility shall be acceptable to the Administrative Agent in connection with respect to such policy in Part II all matters other than those arising after the date of Schedule 6.1(n); the Existing Credit Facility and (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative AgentSection.

Title Insurance Policy. The Administrative Each Co-Agent shall have received in respect of each of the Insured Fee Mortgaged Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s 's title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Date. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I of Schedule 6.1(n)Required Purchasers; (ii) insure that the Mortgage insured thereby creates a valid first Lien second in priority only to Liens created under the Senior Credit Documents on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and Section 8.3 hereof and such as the Required Purchasers may be approved by the Administrative Agentapprove from time to time; (iii) name the Administrative Agent Co-Agents, as agents for the benefit of the Lenders Purchasers as the insured insureds thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained the Required Purchasers may reasonably request, except that (A) in the ALTA Loan Policy listed with respect case of zoning endorsements, if any, no additional premiums will be required in excess of $2,000 per property and (B) those exceptions taken on account of the delayed delivery of surveys to such policy in Part II of Schedule 6.1(n); the Title Insurance Company, which surveys shall be delivered pursuant to Section 7.11(b) hereof and which exceptions shall be removed from the applicable policies pursuant to Section 7.11(c) hereof, (vi) be issued by title companies reasonably satisfactory to the Administrative Agent Required Purchasers (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative AgentRequired Purchasers) and (vii) be issued at ordinary rates (other than with respect to affirmative insurance). The Administrative Agent Co-Agents shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent Co-Agents shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent Required Purchasers may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative AgentRequired Purchasers.

Title Insurance Policy. The Administrative Agent shall have received in respect of each of the Insured Fee Properties and Mortgaged Leased Properties Mortgage an irrevocable written commitment to issue a mortgagee’s title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Date. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I of Schedule 6.1(n)Administrative Agent; (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained in the ALTA Loan Policy listed with respect to such policy in Part II of Schedule 6.1(n)Administrative Agent may reasonably request; and (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.

Title Insurance Policy. The Administrative Agent shall have received in respect of each of the Insured Fee Mortgaged Properties and Mortgaged Leased Properties an irrevocable written commitment to issue a mortgagee’s 's title policy (or policies) or marked up unconditional binder for such insurance dated the Closing Effective Date. Each such policy shall (i) be in an amount reasonably satisfactory to the amount set forth with respect to such policy in Part I of Schedule 6.1(n)Administrative Agent; (ii) insure that the Mortgage insured thereby creates a valid first Lien on the Mortgaged Property encumbered thereby free and clear of all defects and encumbrances, except those permitted by subsections 7.11 and subsection 8.3 and such as may be approved by the Administrative Agent; (iii) name the Administrative Agent for the benefit of the Lenders as the insured thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as were contained the Administrative Agent may reasonably request; provided that, in the ALTA Loan Policy listed with respect to such policy case of zoning endorsements, if any, no additional premiums will be required in Part II excess of Schedule 6.1(n); and $2,000 per property, (vi) be issued by title companies reasonably satisfactory to the Administrative Agent (including any such title companies acting as co-insurers or reinsurers, at the option of the Administrative Agent) and (vii) be issued at ordinary rates (other than with respect to affirmative insurance). The Administrative Agent shall have received evidence reasonably satisfactory to it that all premiums in respect of each such policy, and all charges for mortgage recording tax, if any, have been paid. The Administrative Agent shall have also received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this subsection and a copy, certified by such parties as the Administrative Agent may deem reasonably appropriate, of all other documents affecting the property covered by each Mortgage as shall have been reasonably requested by the Administrative Agent.. 76 70