Common use of TITLE SEARCH Clause in Contracts

TITLE SEARCH. (a) If, after the Effective Date, Enbridge conducts a title search and such search reveals that Owner is not the legal and beneficial owner of the Optioned Property or does not have the legal right and authority to grant to Enbridge, its employees, servants, agents, consultants, contractors and sub-contractors, the rights under this Agreement or has granted an easement, right-of-way, lease, financial encumbrance or other property right(s) related to the Optioned Property (“Prior Encumbrance”) to any other person that would interfere with the rights granted to Enbridge hereunder, Enbridge may, in its sole discretion, terminate this Agreement effective immediately. If Enbridge elects not to terminate this Agreement, Owner agrees to cooperate with Enbridge to obtain from the holder of such Prior Encumbrance any non-disturbance agreement, postponement, mutual co-existence agreement or related agreements, that Enbridge may reasonably require. Without limiting the generality of the foregoing, Owner covenants and agrees to use its best efforts to obtain from any prior mortgagee of the Property, either a postponement of such mortgage to this Agreement and any Easement or a non-disturbance agreement in favour of Enbridge.

TITLE SEARCH. (a) If, after the Effective Date, Enbridge conducts a title search and such search reveals that Owner is not the legal and beneficial owner of the Optioned Property or does not have the legal right and authority to grant to Enbridge, its employees, servants, agents, consultants, contractors and sub-contractors, the rights under this Agreement or has granted an easement, right-of-way, lease, financial encumbrance or other property right(s) related to the Optioned Property (“Prior Encumbrance”) to any other person that would interfere with the rights granted to Enbridge hereunder, Enbridge may, in its sole discretion, terminate this Agreement effective immediately. If Enbridge elects not to terminate this Agreement, Owner agrees to cooperate with Enbridge Xxxxxxxx to obtain from the holder of such Prior Encumbrance any non-disturbance agreement, postponement, mutual co-existence agreement or related agreements, that Enbridge may reasonably require. Without limiting the generality of the foregoing, Owner covenants and agrees to use its best efforts to obtain from any prior mortgagee of the Property, either a postponement of such mortgage to this Agreement and any Easement or a non-disturbance agreement in favour of EnbridgeXxxxxxxx.