Delivery of Title Commitments Clause Samples

Delivery of Title Commitments. The Partnership has obtained, at its sole cost and expense, and delivered to the Contributor, a current commitment for an ALTA extended owner’s policy from the Title Company with respect to the Real Property and/or such endorsements or updates to the existing owner’s policies as the Partnership may desire. Additionally and if required by the Lender in connection with the Lender Approval, the Partnership shall order, at its sole cost and expense, a commitment to endorse the existing mortgagee policy for the Loan from the title insurance company that issued such mortgagee policy, together with complete and legible copies of all instruments and documents referred to therein as exceptions to title (such owner’s commitment and commitment to endorse the existing mortgagee policy are sometimes referred to collectively herein as the “Title Commitments”).

Delivery of Title Commitments. As soon as reasonably practicable following the date hereof (but not later than September 8, 2000), each of HIW and HIW Florida shall, at its expense, make commercially reasonable efforts to deliver or cause to be delivered to MG III: (A) owner's title insurance commitments (collectively, the "Title Commitment") covering the Properties, to be issued by Chicago Title Insurance Company (the "Title Company"), pursuant to which the Title Company will agree to insure title to the Properties under an ALTA Owner's Policy Form B 1970 (or, if not available, such other form as is available) Extended Coverage in the full aggregate amount of the Purchase Prices and Contribution Values (as such terms are defined in the Purchase Agreements), calling for the standard printed exceptions related thereto to be deleted upon receipt of the Survey (as hereinafter defined), a current tax certificate and mechanics' lien affidavits from HIW and HIW Florida (such affidavits to be in form and content reasonably acceptable to HIW, HIW Florida, the Operating LLC and the Land LLC, respectively), with the exception for taxes and assessments to be limited to real property taxes and assessments for the year of closing, not yet due and payable, and with the title exception for the leases and tenancies of the Properties (collectively, the "Leases") to be limited to the leases in effect as of the Closing, as specified by HIW and HIW Florida in affidavits to be provided to the Title Company at the Closing. The Title Commitment shall also provide for issuance of a non-imputation endorsement protecting the Operating LLC and the Land LLC against matters in the knowledge of HIW and HIW Florida (as sellers or contributors and as members of the Operating LLC and the Land LLC); and (B) True and correct legible copies of any and all instruments referred to in the Title Commitment as constituting exceptions or restrictions upon the title of HIW and HIW Florida to the Properties.

Delivery of Title Commitments. Within five (5) Business Days after the Effective Date, Purchaser shall order from the Title Company, at its sole cost and expense, a current title commitment for an ALTA extended owner’s policy with respect to each Property, together with complete and legible copies of all instruments and documents referred to as exceptions to title (collectively, the “Title Commitments”). Purchaser shall provide (or shall cause the Title Company to provide) Sellers’ Representative with a copy of the Title Commitments and all endorsements thereto, including, prior to the expiration of the Due Diligence Period, the Title Commitments and endorsements dated most recently prior to the expiration of the Due Diligence Period.