Amendments to Title Commitment Clause Samples

Amendments to Title Commitment. All exceptions to title other than Material Exceptions (as hereinafter defined) first raised by the Title Company in any amendments to any Title Commitment issued after the Effective Date shall be Permitted Exceptions. Purchaser shall have the right to object to any Material Exceptions first raised by the Title Company in any amendments to any Title Commitment issued after the Effective Date by giving written notice to Seller Contract Agent of the Material Exceptions to which Purchaser is objecting (a “Title Objection Notice”) within five (5) business days after the issuance of any such amendment (or the Closing Date, whichever is earlier). If Purchaser does not object to any Material Exceptions first raised in an amendment to any Title Commitment issued after the Effective Date by giving timely written notice as herein provided, such Material Exception shall be a Permitted Exception. In the event Purchaser gives timely written notice of objection to any Material Exception as herein provided, the Seller Contract Agent shall have five (5) business days to respond to such on behalf of the applicable Seller Entity (a “Title Response”) (and the Closing Date shall be extended as necessary to allow for Seller Contract Agent to respond to Purchaser’s notice, if at all). If Seller Contract Agent elects not to cure (or fails to provide a Title Response within five (5) business days) any exceptions to title set forth in a Title Objection Notice or if, after electing to attempt to cure, Seller Contract Agent determines that it is unwilling or unable to remove, satisfy or otherwise cure any such exceptions (other than removal of Monetary Liens) and Seller Contract Agent notifies Purchaser of such, Purchaser’s sole remedy hereunder in such event shall be either: (i) to accept title to the applicable Property subject to such exceptions as if Purchaser had not objected thereto and without reduction of the Purchase Price and such uncured exception shall be deemed Permitted Exceptions hereunder, or (ii) to terminate this Agreement as to all Properties, whereupon the ▇▇▇▇▇▇▇ Money shall be returned to Purchaser and neither party hereto shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. To terminate this Agreement pursuant to this Section 2.5, Purchaser must give written notice to Seller Contract Agent of its election to terminate n...

Amendments to Title Commitment. Buyer shall have the right to object to any title exceptions first raised by the Title Company in any amendments to the Title Commitment issued after the expiration of the Title Inspection Period by giving written notice to Seller of the title exceptions to which Buyer is objecting on or before the earlier of (a) the date and time for Closing and (b) two (2) Business Days after the issuance of any such amendment. If Buyer does not object to any title exception first raised in any such amendment to the Title Commitment issued after the expiration of the Title Inspection Period by giving timely written notice as herein provided, such title exception shall be a Permitted Exception. In the event Buyer gives timely written notice of objection to any title exception as herein provided, Seller shall have two (2) Business Days in which to determine whether to cure the defect or other matter so objected to by Buyer and to notify Buyer of Seller’s decision in this regard. If Seller does not so notify Buyer within said two (2) Business Day period, then Seller shall be deemed to have elected not to remove such exceptions. If Seller elects, or is deemed to have elected, not to remove such exceptions, Buyer may terminate this Agreement within two (2) Business Days of receipt of Seller’s notice, and the Deposit shall be returned to Buyer. The Closing Date shall be automatically extended, if necessary, to allow all such periods in this Section 3.4 to run.

Amendments to Title Commitment. Purchaser shall have the right to object to any title exceptions first raised by the Title Company in any updates and/or amendments to the Title Commitment or any amendments to the Updated Survey (“New Exceptions”) by giving written notice to Seller of the New Exceptions to which Purchaser is objecting within five (5) business days after the receipt by Purchaser of any such update and/or amendment (and the Closing Date shall be extended as necessary to allow Purchaser time to review and object to any New Exception). If Purchaser does not object to any New Exception by giving timely written notice as herein provided, such New Exception shall be a Permitted Exception. In the event Purchaser gives timely written notice of objection to any New Exception as herein provided, Seller shall have three (3) business days to respond to such and Purchaser’s rights and Seller’s obligations with respect thereto shall be the same as provided with respect to the Title Objection Notice pursuant to the provisions of Section 2.3 (and the Closing Date shall be extended as necessary to allow for Seller to respond to Purchaser’s notice, if at all).

Amendments to Title Commitment. If the Commitment is amended by Escrow Agent, Escrow Agent shall immediately deliver to Buyer and Seller the amendment and provide legible copies of all additional instruments referred to in the amendment (collectively, the "Amendment"). Buyer has five

Amendments to Title Commitment. All exceptions to title other than the Material Exceptions (as hereinafter defined) first raised by the Title Company in any amendments to the Title Commitment issued after the expiration of the Inspection Period shall be Permitted Exceptions. Purchaser shall have the right to object to any Material Exceptions first raised by the Title Company in any amendments to the Title Commitment issued after the expiration of the Inspection Period by giving written notice of the Material Exceptions to which Purchaser is objecting within ten (10) days after the issuance of any such amendment. If Purchaser does not object to any Material Exception first raised in an amendment to the Title Commitment issued after the expiration of the Inspection Period by giving timely written notice as herein provided, such Material Exception shall be a Permitted Exception. In the event Purchaser gives timely written notice of objection to any Material Exception as herein provided, the provisions of Section 2.3 (b) - (d) shall apply with respect thereto as if set forth herein in full. Time is of the essence with respect to the provisions of this Section 2.5. As used herein, a “Material Exception” shall be any right or claim of a third party to fee title to the Property, any lien against the Property not otherwise permitted hereunder or any other matter not otherwise permitted under this Agreement which would materially and adversely interfere with the continued use and operation of the Property as the same is currently used and operated.

Amendments to Title Commitment. If the Commitment is amended by Escrow Agent, Escrow Agent shall immediately deliver to Buyer and Seller the amendment and provide legible copies of all additional instruments referred to in the amendment (collectively, the “Amendment”). Buyer has fourteen (14) days from the date of ▇▇▇▇▇’s receipt of the Amendment or through the Closing Date, whichever occurs earlier, to review and to object in writing to any easements, liens, encumbrances, or other exceptions or requirements in the Amendment which were not disclosed by the Commitment or a previous Amendment (the “Additional Title Objections”). If Buyer does not approve the Amendment or object within the time specified, then the condition of title to the Property reflected on the Amendment shall be deemed approved. If the Additional Title Objections are made within the time specified, Seller may attempt to eliminate the matters covered by the Additional Title Objections by or before the Closing Date. If Seller is unable or unwilling to eliminate the matters covered by the Additional Title Objections by or before the Closing Date upon terms acceptable to Buyer, Seller shall so notify Buyer, and Buyer may either waive the Additional Title Objections that Seller was unable or unwilling to eliminate or terminate this Agreement.