Common use of Title Policies Clause in Contracts

Title Policies. On or before the Closing Date, Lender shall have received and approved pro forma Title Policies for the Mortgages, and as of the Closing, each Title Company shall be irrevocably committed and prepared immediately to issue the Title Policies or binding commitments. The Title Policies shall be in form and substance satisfactory to Lender. Without limitation, each Title Policy shall be issued on an ALTA form acceptable to Lender by each Title Company or if an ALTA form is not available in the applicable jurisdiction, another form acceptable to Lender, together with such reinsurance and direct access agreements as Lender may require, insuring that the Mortgages are valid first and prior enforceable liens on each Borrower's fee simple interest or ground leasehold interest, as the case may be, in the applicable Property (including any easements appurtenant thereto) subject only to such exceptions to coverage as are acceptable to Lender, including the Permitted Exceptions. Each Title Policy shall contain such endorsements as Lender may require (to the extent available in the state where the Properties is located) in form acceptable to Lender, including deletion of the creditors' rights exception and affirmative endorsement coverage for creditors' rights risks.

Title Policies. On or before the Closing Date, Lender shall have received and approved pro forma Title Policies for the MortgagesDeeds of Trust, and as of the Closing, each Title Company shall be irrevocably committed and prepared immediately to issue the Title Policies or binding commitments. The Title Policies shall be in form and substance satisfactory to Lender. Without limitation, each Title Policy shall be issued on an ALTA form acceptable to Lender by each Title Company or if an ALTA form is not available in the applicable jurisdiction, another form acceptable to Lender, together with such reinsurance and direct access agreements as Lender may require, insuring that the Mortgages Deeds of Trust are valid first and prior enforceable liens on each Borrower's fee simple interest or ground leasehold interest, as the case may be, in the applicable Property (including any easements appurtenant thereto) subject only to such exceptions to coverage as are acceptable to Lender, including the Permitted Exceptions. Each Title Policy shall contain such endorsements as Lender may require (to the extent available in the state where the Properties is located) in form acceptable to Lender, including deletion of the creditors' rights exception and affirmative endorsement coverage for creditors' rights risks.

Title Policies. On or before the Closing Date, Lender shall have -------------- received and approved pro forma Title Policies for each of the MortgagesProperties (one title policy shall be issued for each state in which any of the Properties are located), and as of the Closing, each the Title Company shall be irrevocably committed and prepared immediately to issue the Title Policies or binding commitmentsPolicies. The Each Title Policies Policy shall be in form and substance reasonably satisfactory to Lender. Without limitation, each Lender may reasonably require that the Title Policy shall Policies be issued on an the 1970 ALTA form acceptable to Lender (if available) by each the Title Company or if an ALTA form is not available in the applicable jurisdiction, another form acceptable to LenderCompany, together with such reinsurance and direct access agreements as Lender may require, insuring that the Mortgages are constitute valid first and prior enforceable liens on each Borrower's fee simple interest or ground leasehold interest, as the case may be, in the applicable Property Properties (including any easements appurtenant thereto, but without insuring the priority of any such easement over any liens that encumber the property burdened by the easement) subject only to Permitted Encumbrances and such other exceptions to coverage as are reasonably acceptable to Lender, including the Permitted Exceptions. Each The Title Policy Policies shall contain such endorsements as Lender may require (to the extent available in the state where the Properties applicable Property is located) in form reasonably acceptable to Lender, including deletion of the creditors' rights exception and affirmative endorsement coverage for creditors' rights risks.