Title Defects definition

Title Defects has the meaning set forth in Section 5.15(b).

Title Defects means and include any mortgage, deed of trust, lien, pledge, security interest, claim, lease, charge, option, right of first refusal, easement, restrictive covenant, encroachment or other survey defect, encumbrance or other restriction or limitation whatsoever.

Title Defects means any title matters relating to the Real Property or Improvements that are not approved or deemed approved by BKP in accordance with this Agreement. “Title Defects” shall not include (i) liens and security interests securing any financings to Contributor and any mechanic’s liens resulting from work at the Real Property that is required hereunder to be paid or discharged by Contributor prior to or at the Closing or pro-rated pursuant to Section 10.4, (ii) any Permitted Exceptions, and (iii) local, state and federal laws, ordinances or governmental regulations, including but not limited to, building and zoning laws, ordinances and regulations, now or hereafter in effect relating to the Property.

Examples of Title Defects in a sentence

• At the Closing, We will convey the Property to You free of Title Defects.

• You must notify Us in writing of any Title Defects which are objectionable to You by no later than five (5) days after You have received the Title Commitment from Us. We will have fifteen (15) days after receiving Your notice about objectionable Title Defects to either (i) remove the Title Defects, or (ii) deliver to You a Title Commitment which does not contain an exception for the Title Defect.

• The Title Commitment shall show that, upon performance by Us of all of the items listed on Schedule B-1 of the Title Commitment, We will convey to You fee simple title to the Property free and clear of Title Defects.

• We will use reasonable efforts to remove any Title Defects, but We are not obligated to institute a lawsuit or expend any sums to do so.

More Definitions of Title Defects

Title Defects shall have the meaning set forth in Section 2.8(a)

Title Defects means encumbrances, encroachments, irregularities, or defects in title to the Assets that causes Seller's title to be less than Good and Marketable Title.

Title Defects has the meaning given that term in Section 5.06(b).

Title Defects shall have the meaning set forth in Section 4.11.1.

Title Defects is defined in Section 4.3.

Title Defects means any title matters relating to the Real Property or Improvements that are not approved or deemed approved by the Partnership in accordance with this Agreement, but excluding (i) Permitted Exceptions and (ii) mechanic’s and materialmen’s liens resulting from work at the Real Property that is required hereunder to be paid or discharged by Contributor prior to or at the Closing or prorated pursuant to Section 10.4.

Title Defects means any title matters that have an adverse material impact on the use of the Assets as of the Closing Date or operation of the Transferred Business as conducted as of the Closing Date. For the avoidance of doubt, Title Defects do not include any title matters that arise on or after the Closing Date.