Title Policies and Exceptions Sample Clauses

Title Policies and Exceptions. (a) Prior to the Closing, Purchaser shall obtain an ALTA extended owner's policy of title insurance (Form B-1970) (Amended 4-6-90), issued by Nevada Title Company or if such title company is unable to do so, by a title insurance company reasonably acceptable to Purchaser in its reasonable discretion ("TITLE Company"), insuring that Purchaser has fee title to the Real Property and Improvements, subject only to (i) the exceptions to title as shall be reasonably satisfactory to Purchaser in its discretion, (ii) liens for taxes not yet due and payable, (iii) all standard exceptions, exclusions, conditions and stipulations from coverage for Title Company's Extended Coverage Form ALTA Owner's Policy of Title Insurance, including any and all endorsements and affirmative coverage customary in real estate sale transactions involving the magnitude and type of the Assets (including, without limitation, an ALTA 3.1 Zoning Endorsement) as Purchaser shall reasonably request, and (iv) those exceptions arising after the Transfer Time and approved by Purchaser as provided above (the "TITLE POLICY"). The coverage amount of the Title Policy for the Real Property and Improvements shall be in an amount to be requested by Purchaser, which amount shall not exceed $185,000,000. Purchaser shall have the right to require the Title Company to obtain facultative reinsurance, with direct access provisions against the reinsurer with respect to the Title Policy in such amounts and with such title companies as Purchaser shall determine in its reasonable discretion.
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Title Policies and Exceptions. 60 8.2 TITLE POLICY PREMIUMS ............................................................................... 64 8.3 SURVEY .............................................................................................. 64
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Title Policies and Exceptions. (a) Seller has provided Purchaser with preliminary title reports for the Real Estate ("Title Reports") pertaining to each parcel of real estate together with copies of all documents reasonably available evidencing each exception noted on the Title Reports ("Exception Documents"). Attached hereto as Schedule 8.1(a)(i) are the list of the Permitted Title Exceptions as of the Effective Date, which list may be supplemented as provided herein. Attached hereto as Schedule 8.1(a)(ii) are the list of the exceptions in the Title Reports objected to by Purchaser ("Objected Exceptions"). Seller agrees to "remove" the Objected Exceptions to the extent they are not prorated at Closing under the procedure identified in subparagraph (b) below. Purchaser shall have a period of thirty (30) days from the date Purchaser receives Purchaser's Surveys for all of the Real Estate ("Title Date") to review such and to notify Seller in writing of each objection to the condition of title as reflected in the Surveys and which were not previously disclosed in the Exception Documents ("Survey Exceptions"). Purchaser shall obtain Purchaser's Surveys by December 2, 2002 or this condition shall be deemed waived by Purchaser. Failure by Purchaser to notify Seller in writing of Purchaser's objections to the Survey Exceptions to title of the Real Estate on or before the Title Date shall result in a waiver by Purchaser of such objections to title.
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Title Policies and Exceptions. 41 ARTICLE X SURVIVAL OF REPRESENTATIONS, WARRANTIES, COVENANTS AND AGREEMENTS..................43 10.01. Survival of Representations, Warranties, Covenants and Agreements........43
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Title Policies and Exceptions. (a) Attached hereto as Exhibit M is a preliminary title report for --------- the Real Property (the "Title Report"). All title exceptions shown on the Title ------------ Report except those 41 exceptions deleted by Purchaser, and all matters disclosed by the Survey, a copy of which has been provided to Purchaser, are hereinafter referred to as the "Permitted Exceptions". The Permitted Exceptions shall also include those other -------------------- title exceptions which are disclosed or become apparent to Purchaser after the date hereof, which are not already Permitted Exceptions, which cannot be removed by the payment of a sum of money, which are not caused by the intentional act of Seller or any Affiliate of Seller after the date hereof, and which do not materially adversely affect the value of the Real Property or Improvements, or the continued use thereof as currently conducted, or as to which Purchaser has not timely objected. Purchaser must notify Seller in writing of its objection to any such subsequently arising matter on or before the date which is ten (10) days after Purchaser's receipt of notice thereof.
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Title Policies and Exceptions. 35 ARTICLE IX Conduct of Business Prior to Closing
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Title Policies and Exceptions. (a) Attached hereto as Schedule 8.1(a) is a preliminary title report for each of the Real Estate, the Corner Land and each parcel of the Residential Real Estate (collectively, the "Title Report"). All title exceptions shown on the Title Report except those exceptions listed on Schedule 8.1(a) and all matters disclosed by the surveys listed on Part II of Schedule 8.1(a) (collectively, the "Survey"), copies of which have been delivered to Buyer, are hereinafter referred to as the "Permitted Exceptions". The Permitted Exceptions shall also include those other title exceptions which are disclosed or become apparent to Buyer after the Effective Date, which are not already Permitted Exceptions, which cannot be removed by the payment of a sum of money, which are not caused by the intentional act of Seller or Seller's affiliates after the Effective Date and which do not materially adversely affect the value of the Real Estate, the Corner Land or the Residential Real Estate, or the continued use thereof as currently conducted, or as to which Buyer has not timely objected. Buyer must notify Seller in writing of its objection to any such subsequently arising matter on or before the date that is ten (10) days after Buyer's receipt of notice thereof.
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Title Policies and Exceptions. (a) Attached hereto as Schedule 8.1(a) is a preliminary title report for each of the Real Estate, the Corner Land and each parcel of the Residential Real Estate (collectively, the "Title Report"). All title exceptions
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Related to Title Policies and Exceptions

  • Title Policies The Title Company shall be prepared, -------------- subject only to payment of the applicable premium, endorsement and related fees and delivery of all conveyance documents in recordable form, to issue a title insurance policy to Purchaser, subject only to the Permitted Encumbrances, in accordance with Section 3.3. -----------

  • Title Policy The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.

  • Title Reports With respect to each Closing Date Mortgaged Property, a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the Closing Date and satisfactory in form and substance to Administrative Agent;

  • Title Insurance Policies The Borrower will deliver to the Administrative Agent a policy of title insurance (or marked-up title insurance commitment or title proforma having the effect of a policy of title insurance) (a “Title Policy”) insuring the Lien of such Mortgage as a valid first mortgage or deed of trust Lien on the Mortgaged Property described therein in an amount not less than the estimated fair market value of such Mortgaged Property as reasonably determined by the Borrower, which Title Policy shall (A) be issued by a nationally-recognized title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”), (B) include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Administrative Agent, (C) be supplemented by a “tie-in” or “aggregation” endorsement, if available under applicable law, and such other endorsements as may reasonably be requested by the Administrative Agent (including (to the extent available in the applicable jurisdiction and/or with respect to the Mortgaged Property, in each case, on commercially reasonable terms) endorsements on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business, public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, and so-called comprehensive coverage over covenants and restrictions) if available under applicable law at commercially reasonable rates and (D) contain no other exceptions to title other than Permitted Liens and other exceptions acceptable to the Administrative Agent in its reasonable discretion;

  • Copies of Documents Relating to Title Exceptions Copies of all recorded documents listed as exceptions to title or otherwise referred to in the Additional Mortgage Policy or title report delivered pursuant to clause (iv) or (v) above;

  • Permitted Exceptions The Property shall be conveyed subject to the matters which are, or are deemed to be, Permitted Exceptions pursuant to Article II hereof (herein referred to collectively as the “Permitted Exceptions”).

  • Title Insurance Policy Lender shall have received (i) a Title Insurance Policy for each Individual Property or a marked-up commitment (in form and substance satisfactory to Lender) from Title Insurer to issue a Title Insurance Policy for each Individual Property and (ii) a fully executed copy of the Title Instruction Letter from the Title Insurer.

  • Title Insurance and Surveys At the Closing, Lawyer’s Title Insurance Company (the “Title Company”) shall have delivered to Buyer policies of title insurance, or an irrevocable commitment to issue such policies, in accordance with the following: (a) an owner’s title insurance policy with respect to the Owned Property (exclusive of the IDS Site), insuring that Buyer has good and marketable fee simple title in and to each parcel of Owned Property together with all rights, easements and privileges appurtenant thereto (exclusive of the IDS Site) and (b) a leasehold title insurance policy with respect to the Leased Property, insuring that Buyer has good and marketable leasehold title in and to each parcel of Leased Property together with all rights, easements and privileges appurtenant thereto, in each case free and clear of all Encumbrances other than Permitted Encumbrances (collectively, the “Title Policies”). The Title Policies shall contain such endorsements and affirmative coverages as Buyer shall identify on Schedule 7.7 attached hereto and, with respect to title matters and surveys not provided to Buyer as of the date hereof, such additional endorsements and affirmative coverages as Buyer shall reasonably request in writing. Seller shall provide all such affidavits, indemnities (in respect of title), memoranda, assignments, documents and information, whether from Seller or other Persons, in such form as Seller shall reasonably approve and as the Title Company reasonably shall require in order to (i) issue the Title Policies with the coverage required herein, (ii) omit from the Title Policies standard title objections customarily omitted on the basis of title affidavits and documentation delivered by Seller (including, without limitation, exceptions as to parties in possession and liens for work performed at the property), and (iii) evidence Seller’s authority, and the authority of the Person or Persons executing the conveyance documents on behalf of Seller, to consummate the transactions with respect to the Facilities. Buyer shall bear the cost of the title premiums for such Title Policies and Seller shall bear the cost of obtaining and recording such memoranda of leases, lease assignments and other documents as are required by the Title Company in order to issue the Title Policies with the coverages and endorsements required herein. Buyer, at Seller’s expense shall have received a current survey from Professional Engineering Corporation, in a form reasonably acceptable to Buyer, of the Facility located in McAlester, Oklahoma, or such portion thereof, as deemed advisable by Buyer in its sole discretion, certified to Buyer, Buyer’s lender and the Title Company (the “Oklahoma Survey”). Seller shall have delivered to Buyer a survey of the Wichita Site prepared by Professional Engineering Corporation, dated not more than thirty (30) days prior to the Closing, certified to Buyer, Buyer’s lender, the Title Company and such other parties as Buyer may designate (the “Wichita Survey”; together with the Oklahoma Survey, the “Surveys”). Each Survey shall comply with the minimum detail requirements for land title surveys as adopted by the American Land Title Association and the American Congress on Surveying and Mapping. Neither the Wichita Survey nor any other Survey shall disclose (x) Encumbrances other than Permitted Encumbrances, (y) material shortages in area or conflicts or discrepancies in boundary lines or (z) uninsurable encroachments of improvements, facilities or other structures across or over boundary lines, easement areas or rights-of-way.

  • Title Insurance and Survey (a) Buyer shall notify Sellers in writing (the “Title Objection Notice”) by 5:00 p.m. (Central time) on the date that is four (4) Business Days prior to the date of expiration of the Due Diligence Period (the “Title Review Period”) as to which matters, if any, within the Title Commitments and which survey matters (including matters disclosed in any Survey or any update thereto) are not acceptable to Buyer (individually, a “Disapproved Title Matter”). Any matter within the Title Commitments, the Surveys, and any matter that would be disclosed by a current, accurate survey of any Real Property that Buyer fails to so disapprove in a Title Objection Notice delivered to Sellers prior to the Title Review Period shall be conclusively deemed to have been approved by Buyer. If Buyer timely delivers a Title Objection Notice indicating a Disapproved Title Matter, then Sellers shall have two (2) Business Days after receipt of such Title Objection Notice to elect to notify Buyer in writing (a “Title Response Notice”) that Sellers either (a) will remove such Disapproved Title Matter from title to the Real Property on or before the Closing, or (b) will not cause such Disapproved Title Matter to be removed from title to the Real Property. If Sellers fail to deliver a Title Response Notice as to a particular Disapproved Title Matter within such two (2) Business Days period, then Sellers shall be deemed to have made the election in clause (b) above as to such Disapproved Title Matter. The procurement by any Seller, at its option, of a written commitment from the Title Company to issue the Title Policy or an endorsement thereto reasonably satisfactory to Buyer as of the Closing (at such Seller’s sole cost and expense) and insuring Buyer against any Disapproved Title Matter (or any “Additional Title Matter” as defined below) shall be deemed a removal thereof from title to the Real Property. If Sellers make (or are deemed to have made) the election in clause (b) above as to any Disapproved Title Matter, then Buyer shall have two (2) Business Days from the earlier of (i) the date it receives the Title Response Notice making such election, or (ii) the date that Sellers are deemed to have made such election as to such Disapproved Title Matter (but not later than the expiration of the Due Diligence Period), within which to notify Sellers in writing that Buyer elects to either (x) nevertheless accept the condition of title to the Real Property subject to such Disapproved Title Matter, or (y) terminate this Agreement. If Buyer makes the election set forth in clause (y) above, then this Agreement shall immediately terminate, Buyer shall be entitled to a return of the Exxxxxx Money, and Sellers and Buyer shall have no further rights or obligations hereunder, except for the provisions hereof that expressly survive termination of this Agreement. If Buyer fails to notify Sellers in writing of its election within said two (2) Business Days period, then Buyer shall be deemed to have made the election set forth in clause (x) above.

  • Title Report If no Additional Mortgage Policy is required with respect to such Additional Mortgaged Property, a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the date such Additional Mortgage is to be recorded and satisfactory in form and substance to Administrative Agent;

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