Title Matters. Seller agrees to share equally with Buyer the closing costs and the cost of a title insurance company's commitment for and policy of title insurance. Buyer shall pay for any lender’s/mortgagee’s/instrument holder’s title insurance coverage. The title insurance company will furnish a copy of the commitment for title insurance and copies of all of the exception documents referred to therein (hereafter collectively referred to as the “Title Commitment”) to Seller, Buyer, Buyer’s lender and the listing/selling broker as promptly as possible. The Title Commitment shall show a merchantable title vested in Seller, subject to easements, restrictions and protective covenants of record, right-of-way’s, setbacks, tenant rights, trees, fences, ordinances and regulations, unmatured and future assessments, restrictions and protective covenants of record, provided no forfeiture provisions as contained therein, encroachments and overlaps, zoning laws, ordinances and regulations, those exceptions which are standard to a policy of title insurance in the State of Kansas or as specified herein, and those matters attaching to the title by reason of Buyer taking title to the real property. Buyer shall have a period of five (5) days following receipt of the Title Commitment (the “Objection Period”) in which to examine the Title Commitment and advise Seller in writing of any objections ("Title Objections") the Buyer may have to Seller's title as shown in the Title Commitment. Seller shall then have a period of five (5) days in which to notify Buyer in writing of those Title Objections it elects to cure. In the event Seller elects to cure less than all of the Title Objections, Buyer shall have the right to terminate this Agreement by giving Seller written notice thereof within five (5) days of its receipt of Seller's notice, in which case the Xxxxxxx Money shall be returned to Buyer, and thereafter neither party shall have any further obligation hereunder. In the event Buyer does not terminate this Agreement, Seller shall have until Closing ("Cure Period") in which to cure the Title Objections the Seller has elected to cure, which the Buyer Agrees to extend for an additional 45 days in the event Seller has initiated a lawsuit to cure the title objection or objections. Title Objections may also be cured in accordance with applicable current titled standards in the Kansas Title Standards Handbook.
Title Matters. [Variations to the title guarantee105 For the purposes of section 6(2) of the 1994 Act: all entries made in any public register that a prudent tenant would inspect will be treated as within the actual knowledge of the Tenant;
Title Matters. 3 2.4 Survey...................................................................................................3 2.5
Title Matters a. Seller shall convey, and Purchaser shall accept, such title to the Properties as is deliverable pursuant to the 363 Procedures Order and under 11 U.S.C. § 363. The Escrow Company has conducted title searches on each Property and has issued a title commitment for each Property showing various exceptions, which commitment has been made available to Purchaser prior to execution of this Agreement (each, a “Title Commitment”). Each Title Commitment shows various exceptions (the “Title Commitment Exceptions”) and Escrow Company has indicated it is prepared to issue title insurance subject to those exceptions. As a condition to close of escrow, and unless waived by Purchaser, Seller shall remove the Removed Exceptions (as defined in subparagraph b below). Purchaser shall take subject to all other Exceptions. For each Property for which Escrow Company issues an owner’s title insurance policy to Purchaser, Purchaser shall pay Escrow Company the promulgated rate for the state in which the Property is located. The amount of insurance for any Property upon which a policy may be issued shall be calculated by multiplying the Purchase Price by a fraction with the numerator being the 2017 assessed value for that Property and the denominator being the 2017 assessed value of all Properties (the “Attributable Purchase Price”).
Title Matters. (a) For the sole purpose of determining the existence of Title Defects prior to the Closing, Seller warrants that it owns Defensible Title (as defined in Section 3.3(b)) to the Leases except to the extent affected by the litigation described on Schedule C.
Title Matters. Within ninety (90) days after the Effective Date with respect to the Oil and Gas Properties listed on Schedule "7" hereto, Borrowers shall furnish Agent with title opinions and/or title information reasonably satisfactory to Agent showing good and defensible title of Borrowers to such Oil and Gas Properties subject only to the Permitted Liens. As to any Oil and Gas Properties hereafter mortgaged to Agent, Borrowers will promptly (but in no event more than thirty (30) days following such mortgaging), furnish, if requested, Agent with title opinions and/or title information reasonably satisfactory to Agent showing good and defensible title of Borrowers to such Oil and Gas Properties subject only to Permitted Liens.
Title Matters. Title examination shall be conducted as follows:
Title Matters. Liens and other matters of record noted on any title insurance policy for a Borrowing Base Property delivered to the Administrative Agent, with the Administrative Agent having received the title insurance policies delivered for the Borrowing Base Properties as of the Closing Date.
Title Matters. The Existing Line Property shall be conveyed subject to (a) all matters concerning title thereto, whether known or unknown, in existence as of the date hereof, including any and all easements, encroachments, prescriptive rights, or any other such matter or matters, whether or not the same would be disclosed by an examination of title, shown on a survey, or evident from a physical inspection thereof; (b) the lien of all ad valorem real estate taxes and assessments, if any, and all water and sewer charges and assessments affecting said Property, subject to adjustment as hereinafter provided; and (c) reservation of such access and vegetation management easement rights as Company may deem necessary to allow Company to operate and maintain its facilities, provided the same do not materially interfere, in Developer’s good faith discretion, with Developer’s use of said Property (collectively, the “Permitted Exceptions”). Company shall not be required to incur any expense, take any action or commence any proceeding to remove any matter concerning title, or cure any encumbrance, lien or exception to title (except for the lien of its first mortgage indenture, as provided for herein, and any other encumbrance created by Company following the Effective Date), or otherwise to render Company’s title to the Existing Line Property marketable or insurable. If Developer determines for any reason or for no reason in its sole discretion that the Existing Line Property is not suitable for Developer's purposes, then, prior to Developer’s delivery of the Notice to Proceed under the Agreement, Developer may elect to terminate this Agreement as provided for herein.
Title Matters. Purchaser has received from the Title ------------- Company a preliminary title commitment for a fee policy having an effective date after the date of the Original Agreement, for an ALTA (or such other form reasonably approved by Purchaser) owner's policy of title insurance with respect to the Property, together with complete and legible copies of all instruments and documents referred to as exceptions to title (collectively, the "Title ----- Commitment"). Except as set forth in the Diligence Notice, Purchaser ---------- acknowledges that it does not have any other objections to title exceptions shown on the Title Commitment. Seller acknowledges and agrees that Seller shall attempt to remedy the objections set forth in the Diligence Notice with respect to the Property. Seller shall have the right to adjourn the Closing Date pursuant to Section 3.6 for up to ninety (90) days for such purpose. If Seller ----------- shall be unable to remove any such title defects to which Purchaser has objected in accordance with this Section 3.3, Purchaser may elect (i) to terminate this ----------- Agreement and this Agreement shall be of no further force and effect, except as otherwise expressly provided herein, or (ii) to consummate the transactions contemplated hereby, notwithstanding such title defect, without any abatement or reduction in the Purchase Price on account thereof. Purchaser shall make any such election by written notice to Seller given on or prior to the earlier of the Closing Date or the fifth Business Day after Seller's notice of its inability to cure such defect, and time shall be of the essence with respect to the giving of such notices by Purchaser. Failure of Purchaser to give such notice shall be deemed an election by Purchaser to proceed in accordance with clause (ii) above, and such exception shall be a Permitted Encumbrance. Notwithstanding the foregoing, Seller shall be obligated to take any and all actions necessary to remove as a title exception (and shall not have the aforesaid option to not cure) any mortgages, deeds of trust, judgments and other liens of a monetary nature, as well as any liens or encumbrances created, permitted or suffered by Seller from and after the date of the Diligence Notice.
