Common use of Acceptance of Title as of the Effective Date Clause in Contracts

Acceptance of Title as of the Effective Date. The parties acknowledge and agree that the Title Company has made available to Purchaser commitments for title insurance (collectively, the “Title Commitments”) addressing the status of title to each Property as of a date prior to the Effective Date, including (to the extent available) copies of Liens and Encumbrances that are indicated as Property-specific exceptions to title in such Title Commitments. Purchaser has had the opportunity to review and approve the Title Commitments. Each of the Title Commitments is identified on Exhibit P. The parties acknowledge and agree that the Purchaser has received for each Property a survey that complies with the Survey Standards. Each of the surveys, including all revisions required by Purchaser, is identified on Exhibit Q (such surveys are referred to herein as the “Surveys”). Purchaser hereby acknowledges and agrees that, except as set forth in the first sentence of Section 4.1.2, all of the Liens and Encumbrances shown on the Title Commitments and the Surveys are Permitted Exceptions, and that the Sellers shall not be obligated to Cure any of such Liens or Encumbrances. The Sellers shall not be obligated to Cure any Liens or Encumbrances arising after the effective date of any Title Commitment or Survey except as provided in Section 4.1.2 and Section 4.2.3.

Acceptance of Title as of the Effective Date. The parties acknowledge and agree that the Title Company has made available to Purchaser commitments for title insurance (collectively, the “Title Commitments”) addressing the status of title to each Property as of a date prior to the Effective Date, including (to the extent available) copies of Liens and Encumbrances that are indicated as Property-specific exceptions to title in such Title Commitments. Purchaser has had the opportunity to review and approve the Title Commitmentstitle commitments. Each of the Title Commitments is identified set forth on Exhibit P. Disclosure Schedule 6. The parties acknowledge and agree that the Purchaser has received for each Property a survey that complies with the Survey Standards. Each of the surveysSurveys, including all revisions required issued by Purchaserthe Surveyor prior to the Effective Date, is identified on Exhibit Q Disclosure Schedule 7 (such surveys are referred to herein as the “Surveys”). Purchaser hereby acknowledges and agrees that, except as set forth that Purchaser has no right to object to any Liens or Encumbrances disclosed in the first sentence of Section 4.1.2, all of the Liens and Encumbrances shown on the Title Commitments and or the Surveys are Permitted Exceptionsset forth on Disclosure Schedule 6 and Disclosure Schedule 7, respectively, except for Involuntary Liens or Involuntary Encumbrances, if any, listed on Disclosure Schedule 8, and that the Sellers shall not be obligated to Cure any of such Liens or Encumbrances. The Sellers shall not be obligated to Cure any Liens or Encumbrances arising after the effective date of any Title Commitment or Survey except as provided in the first sentence of Section 4.1.2 and Section 4.2.3below.