Insurable title definition

Insurable title means title which a title insurance company licensed to do business in North Carolina will insure at its regular rates, subject only to its standard exceptions and those exceptions listed in subsections (a) through (e) above.
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Insurable title means that fee simple title to the Premises is insurable by Title Insurer without exception other than the Permitted Title Exceptions.
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Insurable title means such title as is sufficient for the issuer of the Title Commitment, to issue its binding commitment to insure good and marketable fee simple title to the Real Estate following the Closing in the name of the Company with a title insurance policy issued by said company in an ALTA (Form B) form of owner’s title insurance for the aggregate amount of the Purchase Price, subject only to the Permitted Exceptions (as such term is hereinafter defined).
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Examples of Insurable title in a sentence

  • Settlement shall be automatically be extended an additional 45 days in the event the Settlement Company and/or Settlement Attorney needs to clear or cure any additional title issues that would prevent the Settlement Company/ Attorney from obtaining Insurable Title.

  • Settlement shall be automatically be extended an additional 45 days in the event: (A) the Settlement Company and/or Settlement Attorney needs to clear or cure any additional title issues that would prevent the Settlement Company/ Attorney from obtaining Insurable Title; or (B) final approval from HUD is delayed.

  • Purchaser's obligations under this Agreement are subject to and conditioned upon Seller's conveyance of Insurable Title to Purchaser, subject only to the Permitted Exceptions and issuance by Escrow Agent of a Title Policy pursuant to the Title Commitment.

  • Seller: Date: Buyer: Date: Settlement shall be automatically be extended an additional 45 days in the event the Settlement Company and/or Settlement Attorney needs to clear or cure any additional title issues that would prevent the Settlement Company/ Attorney from obtaining Insurable Title.


More Definitions of Insurable title

Insurable title means title that a title insurance company acceptable to Tenant (“Title Company”) is willing to insure by issuing to Tenant a commitment for an American Land Title Association (“ALTA”) owner’s insurance policy in the amount of the purchase price, at standard rates, insuring Tenant’s title to the Property, without exception other than those mentioned above. If Landlords are unable to deliver good, marketable and insurable fee simple title to the Property at Closing in accord with this Paragraph, Tenant may terminate this Contract and the Xxxxxxx Money will be refunded to Tenant by the Escrow Agent. No later than the expiration of the Inspection Period, Tenant shall, at its expense, obtain a commitment for title insurance issued in accordance with the provisions of this Paragraph. At that time, Tenant shall give Landlords written notice of any objections to matters of title, including any matters of survey. Upon receipt of any such objections to title, Landlords shall have a period of fifteen (15) days within which to either (a) provide the Tenant with written notice of its intention to cure the objectionable matters, in which case the Closing Date will automatically be extended, if necessary, for an additional fifteen (15) days from the date set forth in Paragraph 16; or (b) provide the Tenant with written notice that it does not intend to cure the objectionable matters, in which case the Tenant shall, no later than five (5) days after receipt of Landlords’ notice, elect to either (1) terminate the Contract, in writing, and receive a full refund of the Xxxxxxx Money and any rent payments made by Tenant, or (2) waive the objections to title and proceed with the closing.
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Insurable title means title insurable at standard rates by the Title Company with a Title Policy.
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Related to Insurable title

  • Defensible Title means such title of Seller that, subject to and except for the Permitted Encumbrances:

  • Marketable Title means such ownership by Seller in the Assets that, subject to and except for the Permitted Encumbrances:

  • Insurable interest as used in this section means any actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.

  • Insurable Crop means Grain Corn.

  • Good and Defensible Title means such title that is free from reasonable doubt to the end that a prudent person engaged in the business of purchasing and owning, developing, and operating producing or non-producing oil and gas properties in the geographical areas in which they are located, with knowledge of all of the facts and their legal bearing, would be willing to accept the same acting reasonably.

  • full insurable value means one hundred percent (100%) of the actual replacement cost of the Property (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items).

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Real Property means any estates or interests in real property now owned or hereafter acquired by any Grantor and the improvements thereto.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Mortgaged Real Property means each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Company Leased Real Property shall have the meaning set forth in Section 3.15(b).

  • Title means the right to or ownership of a vehicle, vessel, or outboard

  • Owned Real Property has the meaning set forth in Section 4.10(a).

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Material Properties means the material mineral properties and projects of the Corporation and Subsidiaries, more particularly set out in Schedule “B” hereto (which schedule is incorporated into and forms part of this Agreement), including, without limitation, the material mineral properties known as the Twangiza, Lugushwa, Namoya and Kamituga deposits, and each a “Material Property”;

  • Material Real Property means any real property owned by any Loan Party with a fair market value in excess of $5,000,000.

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • Real Property Interests means all interests in Owned Real Property and Leased Real Property, including fee estates, leaseholds and subleaseholds, purchase options, easements, licenses, rights to access, and rights of way, and all buildings and other improvements thereon and appurtenant thereto, owned or held by Sellers that are used in the business or operations of the Stations, together with any additions, substitutions and replacements thereof and thereto between the date of this Agreement and the Closing Date, but excluding the Excluded Real Property Interests.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Company Real Property means the Company Owned Real Property and the Company Leased Real Property.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.