Inability to Convey. Except as expressly set forth in Section 8.6, nothing contained in this Agreement shall be deemed to require the Sellers to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, nor shall the Buyer have any right of action against the Sellers, at law or in equity, for the Sellers’ inability to convey title to the Properties subject only to the Permitted Exceptions.
Inability to Convey. Nothing contained in this Agreement shall be deemed to require the Seller to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, nor shall the Buyer have any right of action against the Seller, at law or in equity, for the Seller's inability to convey title to the Properties subject only to the Permitted Exceptions, provided, however, that Seller shall be obligated to remove on or before each Closing (i) any mortgage created by Seller encumbering the Properties then being transferred (with the exception of the Xxxxxxxx Property, with respect to which the existing mortgage shall be assumed by Buyer); (ii) any Liens which can be removed by the payment of a liquidated sum of money, in the aggregate, of up to $250,000 with respect to each Property, (iii) any liens intentionally placed upon the Property then being transferred by Seller after the date hereof without Buyer's prior written consent; and (iv) any Title/Survey Objection with respect to the Property then being transferred that Seller has agreed to cure or caused to be removed pursuant to Section 6.2(a) hereof.
Inability to Convey. If for any reason whatsoever, except for Xxxxxx’s willful default hereunder, Xxxxxx is unable to convey title to Purchaser pursuant to the terms, conditions and provisions of this Contract, Seller’s sole liability is to return the Contract Deposit and upon such return, this Contract shall be null and void and the parties shall have no further obligations to the other.
Inability to Convey. If, at Closing, Contributor is unable to convey title to the Real Property to Contributee in accordance with the requirements of this Agreement, Contributee shall have the option of: (i) terminating Contributee’s obligations under this Agreement, in which event this Agreement shall be terminated and neither party shall have any obligations hereunder, (ii) proceeding to Close, or (iii) adjourning Closing for a period of up to thirty (30) days in order to permit Contributor the opportunity to correct such defects, encumbrances and other title objections (except for Permitted Encumbrances), and if by such date, Contributor has failed to do so, then Contributee shall again have the options set forth in Section 5(c)(i) and (ii) above.
Inability to Convey. If for any reason whatsoever, except for Seller’s willful default hereunder, Seller is unable to convey title to Purchaser pursuant to the terms, conditions and provisions of this Contract, Seller’s sole liability is to return the Contract Deposit and upon such return, this Contract shall be null and void and the parties shall have no further obligations to the other.
Inability to Convey. Except as expressly set forth in Section 9.6, nothing contained in this Agreement shall be deemed to require the Sellers to take or bring, or to cause City Center LLC to take or bring, any legal action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, nor shall the Buyer have any right of action against the Sellers or City Center LLC, at law or in equity, with respect to, and only to the extent that the Sellers have an interest in the Property, the Sellers', inability to convey title, or to transfer the Interests, subject only to the Permitted Exceptions.
Inability to Convey. If, at Closing, Seller is unable to convey title to the Real Property to Buyer in accordance with the requirements of this Agreement, Buyer shall have the option of: (i) terminating Buyer's obligations under this Agreement and returning the Deposit to Buyer, in which event this Agreement shall be terminated and neither party shall have any obligations hereunder, (ii) proceeding to Closing, or (iii) adjourning Closing for a period of up to thirty (30) days in order to permit Seller the opportunity to correct such defects, encumbrances and other title objections (except for Permitted Encumbrances), and if by such date, Seller has failed to do so, then Buyer shall again have the options set forth in Section 5(c)(i) and (ii) above. If Buyer terminates this Agreement pursuant to this Section 5(c), Seller shall immediately pay the Deposit to Buyer.
Inability to Convey. If Seller is unable to convey title to the Real Property to Buyer at Closing in accordance with the requirements of this Agreement, or if a commitment to insure in accordance with the requirements of this Agreement cannot be obtained from the Title Company or other reputable title insurance company acceptable to Buyer, Buyer shall have the options (i) of taking such title as Seller is able to convey with abatement of the Purchase Price in (A) the amount (fixed or ascertainable) of any liens on the Real Property, plus (B) an amount required to cure any other title objection (if the amount is reasonably ascertainable), and/or at Buyer’s election, the amount of any premium payable for affirmative title insurance insuring over such other defect, encumbrance or other title objection, or (ii) of terminating Buyer’s obligations under this Agreement and being repaid the Deposit and all interest earned thereon, together with the Reimbursable Costs, and upon payment to Buyer of the Reimbursable Costs this Agreement shall be null and void and neither party shall have any obligations hereunder. Notwithstanding the foregoing, if title to the Real Property is not as described in Section 6(a) by reason of any willful act or omission by Seller, Buyer shall also be entitled to pursue all other remedies available to Buyer at law or in equity.
Inability to Convey. . . 43 Section 9.5 RIGHTS IN RESPECT OF INABILITY TO CONVEY. . . . . . . . . . . . . . 43 Section 9.6 VOLUNTARY/DE MINIMIS TITLE EXCEPTIONS . . . . . . . . . . . . . . . 44 Section 9.7 THE BUYER'S RIGHT TO ACCEPT TITLE . . . . . . . . . . . . . . . . . 44 Section 9.8 COOPERATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 ARTICLE X
Inability to Convey. If Seller is unable to convey title to the Property to Buyer at Closing in accordance with the requirements of this Agreement, Buyer shall have the option, as its sole and exclusive remedy, of either:
