DEFECTIVE TITLE. If the title is not good and cannot be made good within a reasonable time after written notice has been given that the title is defective, specifically pointing out the defects, Xxxxxxx Money shall be returned to Purchaser and the commission as specified in the listing or other agreement between the Broker(s) and the Seller, plus all costs of collection, including attorney fees, shall be paid by Seller to the Listing and/or Selling Broker(s).
DEFECTIVE TITLE. If after due diligence Seller shall be unable to give title or make conveyance or to deliver possession of the premises, all as herein stipulated, or if at the time of the delivery of the deed the premises do not conform with the provisions hereof, then Seller shall use reasonable efforts to remove any defects in title, or to deliver possession as provided herein, or to make the said premises conform to the provisions hereof, as the case may be, in such event the time for performance hereof shall be extended for a period not to exceed thirty (30) days, or to the date upon which the Buyer’s mortgage commitment expires, whichever date occurs first. If at the expiration of the said extended time period the Seller shall have failed to remove any defects in title, deliver possession, or make the premises conform, as the case may be, all payments made under this Agreement shall be forthwith refunded and all other obligations of all parties hereto shall cease and this Agreement shall be void without recourse to the parties hereto.
DEFECTIVE TITLE. For purposes of the Agreement, Defective Title is defined as status of title, liens or encumbrances, other matters of record, or property status, as determined by Xxx in its preliminary review, which suggests that Lessor does not have title to all or any part of the Lease Premises with all property rights necessary and appropriate for Xxx to undertake the operations described in the Lease without unreasonable risk of claim by any third party (“Defective Title”). For the purposes of this Agreement, Xxx will not reject leases for effective Title if the sole reason for rejection would be a mortgage on a property of less than $500,000. The determination of Defective Title hereunder shall have no legal effect on the rights and obligations of the Parties set forth in the Lease, including without limitation, the Warrant of Title and Interest, Proportionate Reduction, and Curative Documents requirements contained therein.
DEFECTIVE TITLE. If Seller shall be unable to deliver good and marketable title or make conveyance as provided herein. Buyer at its option, may terminate this Agreement whereupon the deposit, if any, shall be refunded to the Buyer and all obligations of the parties shall cease.
DEFECTIVE TITLE. If Melehes shall be unable to deliver title or make conveyance as provided herein, Driggs, at its option, may (i) terminate this Agreement whereafter all obligations of the parties shall cease, or (ii) waive the defects and accept whatever title Melehes is able to convey, as a full performance by Melehes.
DEFECTIVE TITLE. 19.1 If a third party claims that the Services, in whole or in part, and/or the performance of the Services, infringe someone’s proprietary rights or intellectual property right or individual rights, the Adviser shall indemnify NB against any and all claims against NB as a result of such third party claim, including costs, including attorneys’ fee, incurred by NB.
DEFECTIVE TITLE. If the title is not good and cannot be made good within a reasonable time after written notice has been given to the Seller that the title is defective, then the Purchaser, in its sole discretion, may elect to either (i) terminate this Contract; or, alternatively, (ii) proceed with closing the transaction contemplated by this Contract.
DEFECTIVE TITLE. Within thirty (30) days from the date hereof, Purchaser shall have the title to the property searched. In the event the title to the Property is defective or unmarketable, or the Property is subject to liens, encumbrances, easements, conditions or restrictions, or encroachments which are not acceptable to Purchaser, the Purchaser shall immediately notify Seller of such defect(s). Seller may elect to remove said defect or refund to Purchaser all money paid to Seller, and this Agreement shall terminate and be of no further force and effect and neither party shall have any liability or obligation to the other hereunder, except that the Seller shall return to the Purchaser all option monies paid hereunder.
DEFECTIVE TITLE. There is not, and so far as the Vendor is aware has not been, in force any policy relating to defective title or restrictive covenant indemnity for any Material Property.
DEFECTIVE TITLE. In the event LANDLORD shall be unable to convey good and sufficient title to the subject premises, free and clear of all liens and encumbrances, other than those described or mentioned in LANDLORD'S description of the premises set forth in this option, TENANT shall have the option to accept such title as LANDLORD can convey and to pay therefor the full purchase price as specified in Paragraph (33) hereinabove, less a credit for the cost to correct any title defect, or remove any liens or encumbrances.
