Updated Surveys. Purchaser has arranged, at Seller’s expense, for the preparation of a new survey or the revision, modification, or re-certification of the existing Survey as necessary in order for First American to delete the survey exception from the Title Policy.
Updated Surveys. Not less than thirty (30) days prior to Closing, Seller shall provide or make available updates of the Existing Surveys (or new surveys) for each Property, each dated within sixty (60) days of the Closing Date, that will reflect no new survey matters other than those that are Permitted Encumbrances or which otherwise are reasonably acceptable to Purchasers.
Updated Surveys. On or before the Closing, Purchaser will have the right, from time to time, to obtain (and deliver to Seller a copy of) an update of a new or previously updated survey (the “Updated Survey”). If the Updated Survey discloses any matters that are not listed on Purchaser’s prior survey, the same shall be considered Additional Title Defects and Purchaser shall have the right to object to such Additional Title Defects by providing written notice of same to Seller, within the earlier of (i) ten (10) Business Days after receipt of such Updated Survey or (ii) the Closing Date. If Purchaser timely delivers notice of such Additional Title Defects to Seller, Seller will use reasonable good faith efforts to cure such Additional Title Defects prior to Closing; provided that Purchaser, as determined in it sole and absolute discretion, shall have the right, from time to time, to extend the Closing for a period not longer than 150 days in order for Seller to cure such Additional Title Defects. In the event that Seller, using reasonable good faith efforts, is unable to timely cure such Additional Title Defects, then Purchaser shall have the option of either (x) proceeding to Closing and accepting title to the Property “as is”, without diminution in the Purchase Price, or (y) terminating this Agreement by written notice to Seller, in which event this Agreement shall be cancelled, the Deposit shall be returned to Purchaser, and neither party shall have any further obligations to each other with respect to the matters contained in this Agreement, except for those matters which survive the termination of this Agreement. Notwithstanding anything in this Section 9.05 to the contrary: (i) Seller shall be obligated to cure any such Additional Title Defects to the extent provided in the last sentence of Section 9.01 above; and (ii) in the event that any such Additional Title Defects are the result of a default by Seller under the terms of this Agreement, including, without limitation, Section 9.01 above, then nothing in this Section 9.05 shall affect Purchaser’s rights or remedies with respect to such default.
Updated Surveys. If Purchaser shall have elected to obtain updated surveys with respect to any Center, no survey shall reflect any state of fact which (i) was not reflected on the Survey or disclosed in Section 5 hereof, (ii) is not a Permitted Title Exception and (iii) materially adversely affects the marketability of the title to, or the present use of, the Center; provided, however, that if any survey does reflect a state of fact as described in clauses (i), (ii) and (iii) hereof, such state of fact shall not constitute the failure of a condition precedent if, before 5:00 p.m. on the day preceding the Scheduled Closing Date, Sellers cause the state of fact to be eliminated or the state of fact becomes a Permitted Title Exception.
Updated Surveys. CBL acknowledges that it has received and reviewed each of the Delivered Surveys and hereby confirms that, except to the extent of items that are identified as Initial Title Objections on Schedule 3.1(b)(i), the conditions shown on the Delivered Surveys are acceptable to CBL. Notwithstanding the foregoing, JRI agrees that it will use commercially reasonable efforts to take the remedial actions outlined on Schedule 3.2(c) in respect of the Delivered Surveys and, where relevant, to obtain revised surveys reflecting such actions, although the parties also agree that completion of the actions outlined on Schedule 3.2(c) are not conditions precedent to Closing with respect to any of the Properties. Within seventy-five (75) days of the date of this Agreement, JRI shall deliver to CBL for its review an updated survey for each of Columbia Mall, Xxxxxxxx Mall and Parkdale Mall (each, an "Updated Survey"). Subject to clause (iii) below, CBL will have the right to object to new matters set forth in any Updated Survey or any revised survey delivered in connection with, or otherwise relating to the process of, confirming completion of an item identified on Schedule 3.2(c) or required by the Title Company as a condition to the issuance of the applicable Title Policy, in each case in accordance with the provisions of Section 3.2(a) above, except that CBL will not have the right to object to any new matters unless they constitute Other Exceptions and were not set forth in the Delivered Surveys.
Updated Surveys. (a) Purchaser, at its sole cost and expense, shall have the right to procure an updated survey for the Casino Property and/or the Bobtail Property (each hereinafter referred to as an “Updated Survey”), which Updated Survey shall be in form and content as required by Purchaser, in its sole discretion.
Updated Surveys. MTLM shall have received current ALTA surveys of the Owned Real Property and of the Leased Real Property leased from the Port Authority which surveys shall
Updated Surveys. Buyer shall have received an updated ALTA survey on each of the parcels of Real Property reasonably satisfactory to Buyer showing all improvements, rights of way, easements, servitudes and encroachments, the contiguity of all parcels of land constituting the Real Property, that all buildings and structures are located within the property lines and that the acreage of the Real Property is as set forth therein, which survey shall be sufficient to cause the title insurance company to omit the standard survey exception, taking only such specific survey exceptions as shall constitute Permitted Owned Real Property Exceptions.
Updated Surveys. Upon completion of the foundation of the Improvements, Borrower shall provide Bank with an updated survey of the Property showing the location of the foundation and its relationship to the boundaries of the Property, and certifying to Bank as to the absence of any encroachments of any improvements from, or onto, the Property, and as to the compliance of the foundation with all private restrictions and all applicable building setback requirements, zoning regulations, and other relevant restrictions, and otherwise in the form required by Bank for the Closing Survey (the "Foundation Survey"). Further, upon completion of the Improvements, Borrower shall provide Bank with an updated sur- vey of the Property showing the location of the completed Improvements (including all parking areas, drives, walkways, curb cuts, stormwater drainage facilities, and the like), certifying to Bank as to the absence of any encroachments of the Improvements form, or of any other improvements onto, the Property, and as to the compliance of the Improvements with all private restrictions and all applicable building setback requirements, zoning regulations, and other relevant restrictions, certifying to Bank the number of completed parking spaces located on the Property, and otherwise in the form required by Bank for the prior survey delivered to Bank at or before the Closing Date (the "As-Built Survey").
Updated Surveys. Updates to the Existing Surveys (which shall be an “as-built”, ALTA completion survey showing the location of all improvements in respect of the Real Property) (the “Surveys”) certified to Sellers, Purchaser and Title Company, have been delivered to Purchaser on or prior to the Closing and reflecting no Liens other than Permitted Liens and no Material Survey Defects.
