Extended Policy. The Sponsor and the SPAC or Purchaser, as applicable, shall have obtained the Extended Policy.
Extended Policy. On or prior to the Closing Date, the Sponsor and the SPAC shall extend the term of its existing directors and officers liability insurance policy (including commercially reasonable run-off or “tail” coverage, which may be arranged and paid for after the Closing Date) for the entire period of the Extension pursuant to the Extended Policy (for the avoidance of doubt, the fees and expenses of the Extended Policy may be paid using the proceeds of the Investment Loan).
Extended Policy. Buyer shall have the right to procure an ALTA Extended Coverage Owner’s Policy of Title Insurance (“ALTA Extended Policy”) so long as the Close of Escrow is not delayed. Buyer shall pay for the increased cost of such ALTA Extended Policy, the cost of any survey that the Title Company requires for issuance of an ALTA Extended Policy and the cost of any other increase in the amount or scope of title insurance if Buyer elects to increase the amount or scope of title insurance coverage beyond that provided in the standard Title Policy.
Extended Policy. Seller authorizes Buyer’s lender or Closing Agent, at Seller’s expense to apply for an 18 ALTA or comparable Extended Coverage Policy of Title Insurance, rather than the Homeowner’s Policy 19 of Title Insurance. Buyer shall pay the increased costs associated with the Extended Coverage Policy, 20 including the excess premium over that charged for Homeowner’s Policy of Title Insurance and the cost 21 of any survey required by the title insurer. 22
