Commitment to Insure Sample Clauses

Commitment to Insure. Within three (3) business days after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s current title insurance policies and Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”), together with copies of all instruments identified as exceptions therein; and (ii) Seller shall deliver to Buyer a copies of Seller’s surveys of the Property (collectively, the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey(s), or an update of the Existing Survey of the Real Property (the “Survey”).
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Commitment to Insure. Within one (1) business day after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s Owner’s Policy issued by First American Title Insurance Company effective January 2, 2009. Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price, together with copies of all instruments identified as exceptions therein. Within one (1) business day after the Effective Date, Seller shall deliver to Buyer a copy of that certain ALTA/ACSM Land Title Survey of the Property last updated December 18, 2008 (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”).
Sample 1Sample 2Sample 3
Commitment to Insure. Within three (3) business days after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s Owner’s Policy and Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”); and (ii) Seller shall deliver to Buyer a copy of the most recent ALTA/ACSM Land Title Survey of the Property in its possession, if any (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”). In the event of a Closing, Seller shall reimburse Buyer in an amount not to exceed $7,500.00 for the cost of said Survey by a deduction from Seller's proceeds at Closing.
Sample 1Sample 2
Commitment to Insure. Within three (3) business days after the date of this Agreement, Buyer shall order (i) a commitment to insure with respect to the Real Property from the Title Company (the “Commitment”), such Commitment to certify that fee simple title to the Real Property is vested in Seller, and to commit to insure title to the Real Property as required by Section 6(a); and (ii) an update of Seller’ existing survey (the “Survey”) (a copy of which is to be provided to Seller upon receipt of same). If the Commitment or Survey discloses that title to the Real Property is subject to any material defect, encumbrance or other objection of Buyer other than the Permitted Encumbrances, Buyer shall have the right to give to Seller written notice specifying such defect, encumbrance or other objection within five (5) business days of receipt of the last of the Commitment, all documents, plats and maps referenced in the Commitment and the Survey (“Title Objection Notice”) but in no event shall the Title Objection Notice be delivered to Seller after expiration of the Inspection Period. Seller shall have up to five (5) days following receipt of Buyer’s Title Objection Notice to notify Buyer whether or not it will correct such defect, encumbrance or other title objection (the “Response Notice”). Failure of Seller to provide a timely Response Notice shall evidence Seller’s refusal to cure the objections set forth in the Title Objection Notice, provided that notwithstanding the foregoing, and without any requirement for a Title Objection Notice, Seller shall be obligated to remove of all monetary liens and judgments filed against the Property other than those securing the Mortgage Loan.
Sample 1
Commitment to Insure. Within twenty (20) days after the date of this Agreement, Buyer, At Buyer's sole cost and expense, shall order a commitment to insure with respect to the Premises for the Title Insurance Company, such commitment to certify that fee simple title to the Premises is vested in Seller, and to commit to insure title to the Premises.
Sample 1
Commitment to Insure. Subject to the terms and conditions of the Master Policy issued to WAMU by Radian and this letter, and in specific reliance upon the representations and warranties of WAMU set forth in Section 4 below, Radian agrees to insure each of the Covered Loans in the Portfolio up to the Loss amount for such Covered Loan, subject to an aggregate principal balance of $117,000,000. Notwithstanding anything to the contrary contained herein, Radian shall not be liable for and this MI policy shall not apply to, extend to or cover any individual loan that is no longer represented by the Security. For the purposes of determining whether or not a Covered Loan is represented by the Security, the Company reserves the right to rely on any servicer or trustee report received related to the Security. If, without the prior written consent of Radian, which consent shall not be unreasonably withheld, any individual Covered Loan is removed from the Portfolio by the Trustee or WaMu other than due to the conditions listed in Condition Four of the Master Policy (as expressly amended by Section 3 below), or due to any repurchase or other obligations under the Pooling and Servicing Agreement (the “PSA”), coverage under this MI policy will cancel for all loans listed on Exhibit A.
Sample 1
Commitment to Insure. Within five (5) days after the Effective Date, Seller shall deliver to Buyer a commitment from the Title Company (the “Title Commitment”) to provide at Closing a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”), together with copies of all instruments identified as exceptions therein. The cost of the Title Policy shall be prorated as set forth in Section 8(h) below. Additionally, Buyer hereby acknowledges and confirms that Buyer has heretofore received from Seller a copy of the most recent ALTA/ACSM survey of the Property in Seller’s possession, dated as of December 5, 2007 and prepared by Xxxx Xxxx Xxxxxxxx, R.P.L.S. No. 4402 on behalf of Xxxx-Xxxxxx Engineers, Inc., Job No. 9439-07 (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”).
Sample 1
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Related to Commitment to Insure

  • Commitment to Lend Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time between the Closing Date and the Revolving Credit Loan Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment MINUS such Bank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, PROVIDED that the sum of the outstanding amount of the Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total Commitment. The Loans shall be made PRO RATA in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in ss.11 and ss.12, in the case of the initial Loans to be made on the Closing Date, and ss.12, in the case of all other Loans, have been satisfied on the date of such request.

  • Commitment to Issue Letters of Credit Subject to the terms ------------------------------------- and conditions hereof and the execution and delivery by the Borrower of a letter of credit application on the Agent's customary form (a "Letter of Credit Application"), the Agent on behalf of the Banks and in reliance upon the agreement of the Banks set forth in (S)5.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower and agreed to by the Agent; provided, however, -------- ------- that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $5,000,000 at any one time and (b) the sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Revolving Credit Loans outstanding shall not exceed the lesser of (A) the Total Commitment and (B) the Borrowing Base. Notwithstanding the foregoing, the Agent shall have no obligation to issue any Letter of Credit to support or secure any Indebtedness of the Borrower or any of its Subsidiaries to the extent that such Indebtedness was incurred prior to the proposed issuance date of such Letter of Credit, unless in any such case the Borrower demonstrates to the satisfaction of the Agent that (x) such prior incurred Indebtedness were then fully secured by a prior perfected and unavoidable security interest in collateral provided by the Borrower or such Subsidiary to the proposed beneficiary of such Letter of Credit or (y) such prior incurred Indebtedness were then secured or supported by a letter of credit issued for the account of the Borrower or such Subsidiary and the reimbursement obligation with respect to such letter of credit was fully secured by a prior perfected and unavoidable security interest in collateral provided to the issuer of such letter of credit by the Borrower or such Subsidiary.

  • Conditions Precedent to Initial Loans and Letter of Credit Accommodations Each of the following is a condition precedent to Lender making the initial Loans and providing the initial Letter of Credit Accommodations hereunder:

  • Conditions Precedent to Initial Loans and Letters of Credit The obligation of each Lender to make the Loans requested to be made by it on the Closing Date and the obligation of each Issuer to Issue Letters of Credit on the Closing Date is subject to the satisfaction or due waiver in accordance with Section 11.1 (

  • Conditions Precedent to Initial Extension of Credit The obligation of each Lender to make an Advance or of any Issuing Bank to issue a Letter of Credit on the occasion of the Initial Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent before or concurrently with the Initial Extension of Credit:

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

  • Conditions Precedent to Initial Credit Extension Bank’s obligation to make the initial Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation:

  • Termination of Commitment to Lend Notwithstanding anything in the Loan Documents, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender’s sole election, the occurrence of any Default or Event of Default hereunder, and (ii) the applicable Commitment Termination Date. Notwithstanding the foregoing, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower shall terminate if, in Lender’s sole judgment, there has been a material adverse change in the general affairs, management, results of operations, condition (financial or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before the date of this Agreement.

  • Conditions Precedent to Each Loan and Each Letter of Credit The obligation of the Lenders to make each Loan and of the Issuing Lenders to issue each Letter of Credit, including the initial Loans and the initial Letters of Credit, is subject to the satisfaction (or waiver in accordance with Section 10.08) of the following conditions precedent:

  • Commitment of the Lenders (a) Each Lender, severally and not jointly with any other Lender, agrees, upon the terms and subject to the conditions herein set forth, to make Credit Extensions to or for the benefit of the Borrowers, on a revolving basis, subject in each case to the following limitations:

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