16Title Sample Clauses
16Title. Within 3 business days after the Effective Date, the Contributor shall order the Preliminary Title Report from First American Title Insurance Company (the “Title Company”). Copies of all documents referred to in Schedule B of the Preliminary Title Report must be attached to the Preliminary Title Report or otherwise delivered to the Operating Partnership. The Operating Partnership shall have until 11:59 pm EST on the later of (i) 10 days prior to the expiration of the Due Diligence Period and (ii) 5 days after the date which the Operating Partnership receives the Preliminary Title Report to examine title and make any objections thereto and making of requests for specific endorsements, said objections or requests (“Objections”) to be made in writing or deemed waived. If any Objections are so made, the Contributor shall within 5 days after receipt of the Operating Partnership’s Objections (the “Contributor’s Cure Period”) respond to the Operating Partnership in writing whether the Contributor shall cure such Objections or decline to cure any Objection. If the Contributor shall decide to make no efforts or shall be unwilling to cure, remove, or obtain insurable title over the Operating Partnership’s Objections, the Operating Partnership may, by the later of the end of the Due Diligence Period or within 5 days after the expiration of the Contributor’s Cure Period, by notice to the Contributor, either (a) waive its Objections and proceed to Closing, (b) terminate this Agreement by notice to the Contributor and receive a full return of the Xxxxxxx Money or (c) cure the defect at Contributor’s expense and the cost would be credited to Operating Partnership at.
16Title. On December 30, 2021, the Operating Partnership issued its title objection letter after review of the title commitment provided by First American Title Insurance Company. The Contributor has received but not responded to the title objection letter pursuant to its obligatory 5 days after receipt of the Operating Partnership’s Objections (the “Contributor’s Cure Period”) respond to the Operating Partnership in writing whether the Contributor shall cure such Objections or decline to cure any Objection. If the Contributor shall decide to make no efforts or shall be unwilling to cure, remove, or obtain insurable title over the Operating Partnership’s Objections, the Operating Partnership may, by the later of the end of the Due Diligence Period or within 5 days after the expiration of the Contributor’s Cure Period, by notice to the Contributor, either (a) waive its Objections and proceed to Closing, (b) terminate this Agreement by notice to the Contributor and receive a full return of the Xxxxxxx Money or (c) cure the defect at Contributor’s expense and the cost would be credited at Closing.
16Title. The attached and updated title commitment (NCS-10249557 as of December 1, 2020) reflects the status of title acceptable to the Operating Partnership with the exception of requirements 9-26.
16Title. With respect to Oil and Gas Properties acquired after the Closing Date or not previously included in the Borrowing Base or material Midstream Properties, and to the extent necessary for the Administrative Agent to receive satisfactory title information on at least 80% of the total value of the Proved Reserves to be included in the Borrowing BaseRBL Component and Midstream Properties that contributed at least 90% of Midstream Adjusted EBITDA at the most recent Scheduled Midstream Component Recalculation, the Borrower shall from time to time upon the reasonable request of the Administrative Agent, take such actions and execute and deliver such documents and instruments as the Administrative Agent shall require to ensure that the Administrative Agent shall, at all times, have received satisfactory title opinions (including, if requested, supplemental or new title opinions addressed to it), title reports, or other title due diligence, which title diligence shall be in form and substance reasonably acceptable to the Administrative Agent and shall include, with respect to Oil and Gas Properties, information regarding the before payout and after payout ownership interests held by the Borrower and its Subsidiaries, for all xxxxx located on the Oil and Gas Properties shown in the most recent Reserve Report.
16Title. Each of the Company and its subsidiaries has good and marketable title to all personal property owned by it that is material to the business of the Company, free and clear of all liens, encumbrances and defects except such as do not materially affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company or its subsidiaries, as the case may be. Any real property and buildings held under lease by the Company or its subsidiaries is held under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company or its subsidiaries, as the case may be. The Company does not own any real property.
16Title. The Operating Partnership ordered the Preliminary Title Report from First American Title Insurance Company (the “Title Company”), and on December 30, 2021 objected to such items the report as required by this provision. The Contributor shall convey the Property in accordance with that objection letter and this Agreement. Copies of all documents referred to in Schedule B of the Preliminary Title Report must be attached to the Preliminary Title Report or otherwise delivered to the Operating Partnership. . The Contributor shall within 5 business days after receipt of the Operating Partnership’s Objections (the “Contributor’s Cure Period”) respond to the Operating Partnership in writing whether the Contributor shall cure such Objections or decline to cure any Objection. If the Contributor shall decide to make no efforts or shall be unwilling to cure, remove, or obtain insurable title over the Operating Partnership’s Objections, the Operating Partnership may, by the later of the end of the Due Diligence Period or within 5 days after the expiration of the Contributor’s Cure Period, by notice to the Contributor, either (a) waive its Objections and proceed to Closing, (b) terminate this Agreement by notice to the Contributor and receive a full return of the Xxxxxxx Money or (c) cure the defect at Contributor’s expense and the cost would be credited at Closing.
16Title. Except as would not cause a Material Adverse Effect, the Company (or its Subsidiaries) has indefeasible fee simple or leasehold title to its properties and material assets owned by it, free and clear of any pledge, lien, security interest, encumbrance, claim or equitable interest other than such as are not material to the business of the Company and other than for the debentures in favor of Apeiron Investment Group Ltd dated respectively 16 December 2021 and 21 November 2022 and the debenture in favor of GLAS Trust Corporation Limited (as security agent) dated 23 May 2023. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company and its Subsidiaries.