Date-Down Endorsements Sample Clauses
A Date-Down Endorsement is a provision in insurance or title policies that updates the effective date of coverage to a more recent date, typically to coincide with a closing or disbursement event. This endorsement is often used in real estate transactions to ensure that the policyholder is protected against any title defects or claims that may have arisen between the original policy date and the new, updated date. By providing this updated coverage, the clause ensures that the insured party is not exposed to risks that could have occurred during the interim period, thereby maintaining continuous protection and addressing potential gaps in coverage.
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Date-Down Endorsements. At any time and from time to time, a Lender may obtain an endorsement to each Title Insurance Policy containing a Revolving Credit Endorsement, amending the effective date of the Title Insurance Policy to the date of the title search performed in connection with the endorsement. The Borrower shall pay for the cost and expenses incurred by the Lender to the Title Company in obtaining such endorsement, provided that, for each Title Insurance Policy, it shall not be liable to pay for more than one such endorsement in any consecutive 12 month period.
Date-Down Endorsements. Before the release or substitution of a Mortgaged Property and at any time and from time to time that Lender has reason to believe that an additional lien may encumber a Mortgaged Property, Lender may obtain an endorsement to each Title Insurance Policy containing a revolving credit endorsement, amending the effective date of each such Title Insurance Policy to the date of the title search performed in connection with the endorsement. Borrower shall pay for the cost and expenses incurred by Lender to the Title Company in obtaining such endorsement, provided that, for each Title Insurance Policy, it shall not be liable to pay for more than one (1) such endorsement in any consecutive twelve (12) month period.
Date-Down Endorsements. Within ten (10) days of the end of each calendar quarter, Borrowers shall, at their sole cost and expense, cause the Title Insurer to issue to Agent a date down endorsement with respect to each Policy previously issued to Agent by the Title Insurer with respect to each Project, which date down endorsement will establish that the insurance in favor of Agent under the original Policy remains effective on the same terms and conditions as of the end of such calendar quarter and that there are no exceptions to title other than Permitted Exceptions.
Date-Down Endorsements. At any time and from time to time, a Lender may obtain an endorsement to each Title Insurance Policy containing a Revolving Credit Endorsement, amending the effective date of the Title Insurance Policy to the date of the title search performed in connection with the endorsement. The Borrower Parties shall pay for the cost and expenses incurred by the Lender to the Title Company in obtaining such endorsement, provided that, for each Title Insurance Policy, it shall not be liable to pay for more than one such endorsement in any consecutive 12 month period.
Date-Down Endorsements. As a condition precedent to the effectiveness of this Agreement, Borrowers shall, at its sole cost and expense, (i) cause Chicago Title Insurance Company to issue an endorsement (the “Pittsburgh Date-Down Endorsement”) to title insurance policy number PIT190274 (the “Pittsburgh Title Policy”), as of the date the Pittsburgh Modification is recorded, reflecting the recording of the Pittsburgh Modification and insuring the first priority of the lien of the Pittsburgh Mortgage, subject only to the exceptions set forth in the Pittsburgh Title Policy as of its date of issuance and any other encumbrances expressly agreed to by Administrative Agent, and (ii) cause S▇▇▇▇▇▇ Title Guaranty Company to issue an endorsement (the “Abilene Date-Down Endorsement”) to title insurance policy number 5967-256079 (the “Abilene Title Policy”), as of the date the Abilene Modification is recorded, reflecting the recording of the Abilene Modification and insuring the first priority of the lien of the Abilene Deed of Trust, subject only to the exceptions set forth in the Abilene Title Policy as of its date of issuance and any other encumbrances expressly agreed to by Administrative Agent.
Date-Down Endorsements. The Borrower shall pay for the cost and expenses incurred by the Lender to the Title Company in obtaining from time to time an endorsement to each Title Insurance Policy containing a Revolving Credit Endorsement, amending the effective date of the Title Insurance Policy to the date of the title search performed in connection with the endorsement, provided that it shall not be liable to pay for more than one such endorsement in any consecutive 12 month period.
Date-Down Endorsements. With respect to each Loan Party, upon the reasonable request of the Administrative Agent or the Collateral Agent, at the expense of the Borrower, with respect to each Mortgage of property located in the United States, use commercially reasonable efforts to promptly deliver to the Collateral Agent customary date-down endorsements from the Title Company with respect to the Collateral Agent’s lender’s policies of title insurance for the Mortgaged Properties which shall, among other things, confirm that the lien and priority of each Mortgage shall be unaffected as a result of the amendments to each Mortgage of property located in the United States.
Date-Down Endorsements. Within thirty days of the end of each three month period ending January 31, April 30, July 31 and October 31 during the term of this Agreement, the Borrowers shall, at their sole cost and expense, cause the Title Insurer to issue to Agent a date down endorsement with respect to each Title Policy previously issued to Agent by the Title Insurer with respect to each Project that extends the effective date of the Title Policy to the date of the endorsement, which date shall be no earlier than the last day of such three month period, and includes no additional exceptions to title other than the Permitted Exceptions and sets forth the aggregate amount of lien waivers received by the Title Insurer allocated to work performed on or in connection with such Project or materials provided thereto during such three month period, which amount must equal the aggregate amount of lienable costs incurred for such Project as set forth in the Borrowing Certificates applicable to such three month period.
Date-Down Endorsements. At any time and from time to time, a Lender may obtain an endorsement to each Title Insurance Policy containing a Revolving Credit Endorsement, amending the effective date of the Title Insurance Policy to the date of the title search performed in connection with the endorsement. The applicable Collateral Pool Borrower shall pay for the cost and expenses incurred by Lender to the Title Company in obtaining such endorsement, provided that, for each Title Insurance Policy, it shall not be liable to pay for more than one (1) such endorsement in any consecutive twelve (12) month period (including if such Borrower has paid for such endorsements in connection with a Substitution or Release).
Date-Down Endorsements. At any time and from time to time, a Lender may obtain an endorsement to each Title Insurance Policy containing a Revolving Credit Endorsement,