Title Commitment definition
Examples of Title Commitment in a sentence
Within fifteen (15) days after Purchaser’s receipt of the Title Commitment, Purchaser shall give written notice to Seller of any matters that are objectionable to, or deemed a title defect, by Purchaser (“Notice of Title Objections”).
Upon five (5) business days following its receipt of the Title Commitment, Purchaser shall notify Seller of any matters identified in the Title Commitment that Purchaser is unwilling to accept (collectively, the “Purchaser’s Objections”).
Seller shall, on or before Closing, (x) pay and satisfy, or bond off the Real Property, all Liens; (y) satisfy all Schedule B – Section I title requirements required to be performed by Seller in the Title Commitment; and (z) provide the Title Company Affidavit.
Buyer shall have the right to object to any change in title occurring after the effective date of the Title Commitment and prior to the Closing, and if Seller elects to cure such objection and Seller cannot cure or satisfy any such objection (or any objection which Seller has previously undertaken to cure or satisfy) by the Closing or if Seller does not agree to cure such objection, Buyer may exercise the option set forth in clause 5.2(b)(i)(1) or 5.2(b)(i)(2) above.
Within five (5) Business Days after the Effective Date, Buyer shall order the Title Commitment from Title Company.