Certain Exceptions to Title. Buyer shall have the right to object in writing to any title matters which are disclosed in the Title Commitments or Surveys (herein collectively called “Liens”) within ten (10) days after the later of (i) the Effective Date, or (ii) the date of receipt of the last of the Title Commitments, the Title Documents and Surveys. Unless Buyer shall timely object to the Liens, all such Liens which are set forth in the Title Commitments, Title Documents or Surveys are “Permitted Exceptions”; provided that any deed of trust, mortgage, judgment, mechanic’s lien (unless such mechanic’s lien is being contested in good faith by Seller and insured or bonded over at Closing so that they do not appear on the Title Policy) and or tax liens (any of the foregoing, a “Monetary Lien”) shall not be considered Permitted Exceptions hereunder and Seller shall be obligated to remove same at or prior to Closing hereunder (irrespective or whether Buyer has specifically objected thereto). Any exceptions which are timely objected to by Buyer shall be herein collectively called the “Title Objections.” Except for any Monetary Liens which Seller is obligated to remove, Seller may elect (but shall not be obligated) to remove or cause to be removed, or insured over, at its expense, any Title Objections, and shall be entitled to a reasonable adjournment of the Closing (not to exceed thirty (30) days) for the purpose of such removal, which removal will be deemed effected by the issuance of title insurance eliminating or, subject to Buyer’s approval not to be unreasonably withheld or delayed, insuring against the effect of the Title Objections. Seller shall notify Buyer in writing within ten (10) days after receipt of Buyer’s notice of Title Objections whether Seller elects to remove the same (“Seller’s Title Objection Response”). If Seller is unable to remove or endorse over any Title Objections prior to the Closing, or if Seller elects not to remove one or more Title Objections other than Monetary Liens, Buyer may elect, as its sole and exclusive remedy therefore, to either (a) terminate this Agreement by giving written notice to Seller and Escrow Agent on or before the later of (i) three (3) business days after receipt of Seller’s Title Objection Response, or (ii) the end of the Due Diligence Period, in which event the Deposit shall be paid to Buyer and, thereafter, the parties shall have no further rights or obligations hereunder except for those obligations which expressly survive the term...
Certain Exceptions to Title. 3 3.2.2 Discharge of Title Objections..........................................4 3.3
Certain Exceptions to Title. Seller shall cause to be delivered to Buyer within twenty (20) days after the date of this Agreement the Title Commitment and Title Documents from the Title Company. Buyer shall have the right to object in writing to any title matters that are not Permitted Exceptions (herein collectively called the “Other Exceptions”) shown on the Title Commitment, Title Documents and Survey by written notice to Seller given no later than twenty (20) days after the later of the delivery of the Title Commitment and the Title Documents, and to any Other Exceptions first appearing on any subsequent update to the Title Commitment, Title Documents or Survey within five (5) business days after Buyer obtains knowledge thereof or is Deemed to Know of their existence, but in any event no later than the Closing Date. Unless Buyer shall timely object to such Other Exceptions, all such Other Exceptions shall be deemed to constitute additional Permitted Exceptions. Any Other Exceptions that are timely objected to by Buyer shall be herein collectively called the “Title Objections.” Seller shall, at Closing, remove or cause to be removed any Title Objections to the extent (and only to the extent) that such Title Objections are (A) mortgage financing documentation, or (B) mechanics’ or materialmen’s liens and other liens evidencing monetary encumbrances (other than liens for non-delinquent general real estate taxes not yet due and owing) which are removable by payment of liquidated and ascertainable amounts, or (C) liens created or suffered to exist by Seller or its agents and affiliates, but only to the extent such liens are not referenced in the Title Commitment, Title Documents or Survey (collectively, the “Required Clearance Exceptions”). In addition, Seller may elect (but shall not be obligated) to remove, or cause to be removed, at its expense, any other Title Objections. Seller shall be entitled to a reasonable adjournment of the Closing (not to exceed ninety (90) days) for the purpose of the removal of any Required Clearance Exceptions or other Title Objections, which removal will be deemed effected by the issuance of title insurance eliminating or insuring against the effect of the Title Objections. To the extent that the same do not constitute Required Clearance Exceptions, Seller shall notify Buyer in writing within five (5) business days after receipt of Buyer’s notice of Title Objections whether Seller elects to remove the same. If Seller is unable to remove or cause the Tit...
Certain Exceptions to Title. If any update of a Commitment or any Updated Survey for a Property discloses any material new (i) lien, restriction on use, option, conditional sales agreement, pledge, security interest, or other exception, encumbrance or title defect (each, an "Encumbrance") or (ii) encroachment, change in the boundary of a Property (as compared to the boundary shown on the Delivered Survey) or other survey defect, in either case that is not a Permitted Exception (all such Encumbrances and other new encroachments, changes and other survey defects are collectively referred to herein as "Other Exceptions"), then the Purchaser will have the right to object in writing to such Other Exception so long as it delivers the notice to CFCL within five (5) Business Days after the Purchaser first receives such updated Commitment or Updated Survey or such lesser time as remains between such receipt and the Closing Date with respect to the affected Property. Unless the Purchaser notifies CFCL in writing that it objects to an Other Exception with respect to a Property within the foregoing time period, each such Other Exception automatically will constitute an additional Permitted Exception. Other Exceptions to which the Purchaser timely objects within the time frame set forth in this Section 3.2(a) are collectively referred to herein as "Subsequent Title Objections".
Certain Exceptions to Title. If any update of Seller's Title Report or if the Updated Survey shall disclose any matter adversely affecting the Property, including any 18 the Closing shall occur as herein provided without any reduction of or credit against the Purchase Price in respect thereof.
Certain Exceptions to Title. 7 3.2.2 DISCHARGE OF OTHER LIENS . . . . . . . . . . . . . . . . . . 7 3.3
Certain Exceptions to Title. Buyer acknowledges that it previously has had the right to object in writing to any title matters that are not Permitted Exceptions that are disclosed in the Title Commitment, Title Documents or the Survey (herein collectively called “Liens”) and is satisfied that the Title Company is prepared to issue to Buyer the Title Policy, defined below. Notwithstanding any other provision hereof, Seller shall be obligated to remove any voluntary monetary liens at Closing and, as set forth in Section 8.1, in no event shall voluntarily permit the recording of a new lien or encumbrance on the Property after the Effective Date.
Certain Exceptions to Title. 3 3.2.2 Discharge of Title Objections . . . . . . . . . . . . . . . 3 3.3
Certain Exceptions to Title. Buyer shall have the right to approve in writing the Title Report, Title Documents and Survey prior to the end of the Due Diligence Period (as defined in Section 4.1
Certain Exceptions to Title. Notwithstanding anything to the contrary in this Agreement, Seller will be obligated to remove or cure on or before the Closing, in each case, exceptions to title to the Property which are (a) mortgage liens or other monetary liens affecting the Property (except to the extent created by or arising from the acts or omissions of a Buyer Party) and which shall include, without limitation, the mortgage lien in favor of MidCap Financial Trust, (b) mechanics' and materialmen's liens affecting the Property (except to the extent created by or arising from the acts or omissions of a Buyer Party), (c) code violations and other violations with respect to the Property that can be satisfied by payment of a liquidated amount or bonding, (d) encumbrances that have been placed against the Property by, through or under Seller after the date of this Agreement without Buyer's prior written consent (other than in connection with the anticipated EURs shown on Exhibit L), (e) so called “standard” exceptions that can be removed from the Title Policy by Seller’s delivery of the Owner’s Affidavit, and (f) tax liens for real property taxes and assessments which are due and payable or any judgment liens (the liens described in clauses (a) through (f) are collectively referred to as, “Seller’s Required Removal Items”). It is understood and agreed that the marketability of title herein required to be conveyed by Seller shall be determined in accordance with the Standards of Title of the Connecticut Bar Association now in effect (the “Title Standards”) and Sections 47-33b through 47-33l of the Connecticut General Statutes, amended (the “Connecticut Marketable Record Title Act”). It is also agreed that any and all defects in or encumbrances against the title which come within the scope of said Title Standards or the Connecticut Marketable Record Title Act shall not constitute a valid objection on the part of Buyer if such Title Standards or the Connecticut Marketable Record Title Act do not recommend that any corrective or curative action is necessary in circumstances substantially similar to those presented by such encumbrance or lien, provided that (i) Seller furnishes any affidavits or other instruments which may be required by the applicable Title Standards or the Connecticut Marketable Record Title Act, as applicable, and (ii) the Title Company will issue a commitment to provide the Title Policy (as defined below) at standard rates without exception for such item or insuring agains...
