Owner’s Policy definition

Owner’s Policy means Title Company’s Owner’s Policy of Title Insurance in the full amount of the Purchase Price, insuring fee simple title to the Property, as vested in Buyer subject only to installments of real estate taxes not delinquent and the exceptions detailed on the Preliminary Title Commitment issued by First American Title Insurance Company attached hereto as Exhibit A and any unrecorded encumbrances to the Property listed on Exhibit C.

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Owner’s Policy is defined in Section 6.1(x) of the Participation Agreement.

Owner’s Policy means the Owner's Policy of Title Insurance in the standard form in use in the State, naming Purchaser as insured, in the amount of the Purchase Price, insuring that Purchaser owns good and marketable fee simple title to the Property, subject only to the Permitted Encumbrances. Property shall have the meaning provided in Section 2.1 of this Agreement.

Examples of Owner’s Policy in a sentence

Seller shall be required, in order to cure any Unpermitted Exception, to cause such Unpermitted Exception to either (i) be removed of record and no longer remain binding on Purchaser or the Property from and after Closing or (ii) otherwise be omitted from the Owner’s Policy in a manner reasonably acceptable to Purchaser.
The costs of the Owner’s Policy shall be allocated between the Parties as provided for in Section 13 hereof.
Notwithstanding anything in Section 5 of the Agreement, the term “Owner’s Policy” shall mean an ALTA Owner’s Policy of Title Insurance in the form attached hereto as Exhibit D, with any modifications requested by Purchaser and approved by the Title Company.
At Closing, Purchaser shall satisfy all requirements of the Title Company to be satisfied by Purchaser to issue an ALTA Owner’s Policy of Title Insurance, in an amount of the Purchase Price, dated as of the Closing Date, insuring title to the Property in Purchaser, subject to the Permitted Exceptions, on a form reasonably acceptable to Purchaser (the “Owner’s Policy”).

More Definitions of Owner’s Policy

Owner’s Policy means the ALTA Owner’s Policy of Title Insurance issued by Title Company to Lessor concurrently with Lessor’s acquisition of fee ownership of the Premises pursuant to the Purchase Agreement.

Owner’s Policy means an ALTA Owner’s Form of title insurance policy in the amount of the Purchase Price.

Owner’s Policy means an ALTA Owner’s Policy of Title Insurance for the Property in an amount equal to the Purchase Price for the Property insuring fee simple title to the Property and the Improvements located thereon, which shall except from coverage only the Permitted Exceptions and shall specifically exclude all “preprinted” or “standard” title exceptions, to the extent that same can be removed by Seller’s execution and delivery of a title affidavit in the form attached to this Agreement.

Owner’s Policy has the meaning set forth in Section 6(A) below.

Owner’s Policy has the meaning set forth in Section 1.11(a)(ii).

Owner’s Policy is defined in Section 8.1.1 of this Agreement.

Owner’s Policy shall have the meaning assigned thereto in Section 3.02(c)(vi) of the Participation Agreement.