Gap Undertaking definition
Examples of Gap Undertaking in a sentence
Seller shall provide any undertaking (the "Gap Undertaking") to the Title Insurer necessary to the New York Style Closing provided the Gap Undertaking will not cover encumbrances and title defects created by or through Purchaser or any tenants under Leases.
The Seller shall provide and pay for any necessary undertaking (the "Gap Undertaking") to the Title Insurer.
At the Closing, Purchaser shall (i) pay to Seller the Purchase Price in cash for the Property, (ii) provide to the Title Company a completed ALTA statement, Gap Undertaking, and such other documents required by the Title Company as a part of a New York style closing, (iii) execute as required any Transfer Tax Declarations (iv) execute the disbursing statement prepared by the Title Company.
A so-called Gap Undertaking, if required by the Title Company, in form and substance reasonably acceptable to Seller.
Seller shall provide any undertaking (the "Gap Undertaking") to the title insurer necessary to the New York Style Closing.
The Contributor shall provide and pay for any undertaking (the "Gap Undertaking") to the Title Company necessary for the New York Style Closing to occur.
The Contributors shall provide any undertaking (the "Gap Undertaking") to the Title Company necessary for the New York Style Closing to occur.
If required by the Title Company, Owner will execute and deliver to Title Company, a Gap Undertaking and Affidavit satisfactory to Owner and Title Company so as to permit issuance of the Title Policy and Loan Policy Endorsements on the Closing Date.
Seller shall provide any undertaking (the "Gap Undertaking") to the Title Company necessary to the New York Style Closing.
At Closing, Seller shall provide the Title Insurer with Seller's customary ALTA Statement/Owner's Affidavit, Gap Undertaking, and evidence of authority.