Additional Title Matters. If any update of the Title Commitment or Survey shows any matters that are not Permitted Exceptions, Seller shall use such efforts and expend such amounts as it may, in its sole judgment, deem appropriate to Cure any such additional matters prior to the Closing. Seller shall not have the obligation, however, to Cure such additional matters. Seller shall notify Purchaser in writing within two (2) business days after receipt of notice from Purchaser objecting to any such additional matters (also “Disapproved Matters”) whether Seller elects to Cure any such additional Disapproved Matters. If Seller fails to timely deliver such notice to Purchaser, Seller shall be deemed to have elected not to Cure any such additional Disapproved Matter. If Seller notifies (or is deemed to have notified) Purchaser that Seller has elected not to Cure any additional Disapproved Matter, then Purchaser shall notify Seller within three (3) business days after receipt of such notice (or deemed notice) whether Purchaser elects to terminate this Agreement or to proceed to Closing, taking title subject to such additional Disapproved Matters that Seller has elected (or been deemed to have elected) not to Cure. If Purchaser fails to timely deliver such notice, Purchaser shall be deemed to have elected to proceed to Closing, taking title subject to such additional Disapproved Matters that Seller has elected (or been deemed to have elected) not to Cure. If Purchaser elects (or is deemed to have elected) to take title subject to any additional matter under this Section 5.3, such additional matter shall become a Permitted Exception and the Purchase Price shall not be reduced. If Purchaser elects to terminate this Agreement under this Section 5.3, then the Deposit shall be returned to Purchaser and the parties shall be relieved of any further obligations hereunder except for the Surviving Obligations.
Additional Title Matters. Approval by Buyer in its sole and absolute discretion of any additional exceptions to title matters first disclosed to or discovered by Buyer after the delivery of the Title Objection Notice shall be a condition precedent to Buyer's obligation to purchase the Property. Unless Buyer gives written notice that it approves any such additional exceptions to title or survey matters, stating the exceptions so approved, on or before the sooner to occur of three (3) business days after receipt of written notice thereof and the Closing Date, Buyer shall be deemed to have disapproved said additional title exception matters.
Additional Title Matters. The Company shall have delivered to Guaranty the Closing Title Commitments.
Additional Title Matters. Approval by Buyer of any additional exceptions to title or survey matters first disclosed after the expiration of the Title Review Period, including, without limitation, any new matters of survey revealed by the Survey, shall be a condition precedent to Buyer's obligation to purchase the Property. Unless Buyer gives written notice that it approves any such additional exceptions to title or survey matters, stating the exceptions or matters so approved, within (5) business days after receipt of written notice thereof (provided that the Closing Date shall be extended up to December 29, 1999 to allow for such five (5) business day period (or portion thereof), if necessary), Buyer shall be deemed to have disapproved said additional title or survey matters.
Additional Title Matters. If Bxxxx discovers any new exception to title of the Property shown on an updated preliminary title report issued by the Title Company and/or any survey obtained by Bxxxx and delivered to Seller and Buyer which does not constitute a Permitted Exception (“New Exception”), then Buyer shall have five (5) business days after its receipt of such updated title report or survey to give Seller a notice objecting to such new matters and the Closing Date shall be extended to allow for such five (5) business day period. Seller shall notify Buyer in writing of any New Exception immediately upon Sxxxxx’s discovery of the New Exception.
Additional Title Matters. If, prior to Closing, Xxxxx discovers any new exception to title of the Real Property shown on an updated Title Report issued by the Title Company and/or an update to the Survey and delivered to Sellers and Buyer, which was not reflected or disclosed by the Title Report or the Survey and does not constitute a Permitted Encumbrance (a “New Exception”), then Buyer shall have five (5) business days after its receipt of such updated title report or Survey to give Seller a notice objecting to such new matters, and the Closing Date shall be extended to allow for such five (5) business day period. Sellers shall notify Buyer in writing of any New Exception immediately upon Sellers’ discovery of the New Exception, and Sellers shall make commercially reasonable efforts in good faith to seek to discharge such New Exception but shall not be obligated to do so. To the extent not cured within the said five (5) business day period, if any such New Exception shall constitute a Seller Material Adverse Effect, then Buyer shall have the option to terminate this Agreement, failing which, it shall become a Permitted Encumbrance hereunder, and shall not be an impediment to Closing, notwithstanding any resultant deviation in the Title Policy.
Additional Title Matters. If Buyer discovers any new exception to title of the Property shown on an updated preliminary title report issued by the Title Company and/or the Survey and delivered to Seller and Buyer which does not constitute a Permitted Exception (“New Exception”), then Buyer shall have five (5) business days after its receipt of such updated title report or survey to give Seller a notice objecting to such new matters, in which event the same procedures for response, termination and waiver set forth in Section 3.1.1 above shall apply to such new objections, and the Closing Date shall be extended to allow for such five (5) business day period. Seller shall notify Buyer in writing of any New Exception immediately upon Seller’s discovery of the New Exception.
Additional Title Matters. Pebblebrook shall direct the Title Company to deliver a copy of any update to the Commitment (“Update”) to the Company simultaneously with its delivery of same to Pebblebrook. Unless insured over or omitted in accordance with this Agreement, approval by Pebblebrook of any additional exceptions to title or survey matters disclosed in any Update or the Surveys which are not Permitted Exceptions (such matters, the “Additional Title Matters”) shall be a condition precedent to Pebblebrook’s obligations to purchase the Pebblebrook Interest. Unless Pebblebrook gives written notice (a “Title Disapproval Notice”) that it disapproves any Additional Title Matters, stating the Additional Title Matters so disapproved, within ten (10) Business Days after receipt of written notice of such Additional Title Matters, Pebblebrook shall be deemed to have approved such
Additional Title Matters. The Company shall have up to a thirty (30) day period after its receipt of any Title Disapproval Notice within which to remove the disapproved Additional Title Matters set forth therein from title or obtain from Title Company a commitment to issue an endorsement affirmatively insuring against such items in a form acceptable to Pebblebrook, in its sole discretion, at no cost or expense to Pebblebrook (the Company having the right but not the obligation to do so), and the Closing Date may be extended, at the Company’s option, to allow for such thirty (30) day period. If the Company determines at any time that it is unable or unwilling to remove any one or more of such disapproved Additional Title Matters, the Company shall give written notice to Pebblebrook to such effect; in such event, Pebblebrook may, at its option, (a) terminate this Agreement upon written notice to the Company, but only if given prior to the date which is ten (10) days after Pebblebrook receives the Company’s notice that the Company shall be unable or unwilling to remove such item and upon delivery of such termination notice, this Agreement shall terminate and be of no further force or effect (except for the obligations that expressly survive termination of this Agreement) and the Deposit shall promptly be returned to Pebblebrook, or (b) accept title subject to such Additional Title Matters, without any abatement of the Capital Contribution. If Pebblebrook fails to give such termination notice within the ten (10) day period set forth in clause (a) of this Section above, Pebblebrook shall be deemed to have waived its objection to, and approved, the Additional Title Matter set forth in the Company’s written notice. Pebblebrook acknowledges and agrees that TIME IS OF THE ESSENCE with respect to all time periods in this Section 6.1.2. Notwithstanding the foregoing provisions of this Section 6.1.2, the Company, at its option in lieu of satisfying such exceptions, may deposit with the Title Company such amount of money and provide such satisfaction documentation as may be reasonably determined by the Title Company as being sufficient to satisfy such obligations, in which event such exceptions shall not be objections to title, the Company shall be entitled to one or more adjournments of the Closing Date but not beyond the Outside Date, to remove any exceptions to title which the Company is obligated to remove under this Section 6.1.2 or elects to attempt, but is not obligated, to remove.
Additional Title Matters. In the event that there are new conditions identified on any updated Title Commitment or lien search or any modifications to the Survey after the expiration of the Title Review Period but prior to Closing, then, in such event, Buyer shall have the right to notify Seller in writing within five (5) business days of Buyer’s actual knowledge of such additional objections (“Additional Title Matter”). Each Additional Title Matter will be treated as new title defects as set forth in this Section 6(b)(iii), and Buyer shall have the right to object to such matters and Seller shall have the right to Seller’s Title Response as set forth above; notwithstanding the foregoing, in no event shall anything set forth in this Section 6 delay the Closing, except for any Additional Title Matters which may occur prior to Closing.
