Merchantable Title. 6 U. Perfected Claim ........................................................ 6 V.
Merchantable Title. Except as set forth in Schedule 2.6 (a), the Company has good and merchantable title to all of its assets, businesses and properties used or useful in the Company's business and necessary to permit the Company to carry on the Company's business as presently conducted, and with respect to real property leased by the Company for use in the Company's business, good and marketable leasehold estates or lessee's interests, including, without limitation, all such properties (tangible and intangible) reflected in the Company Statements (except for inventory disposed of in the ordinary course of business since the date of such Company Statements) free and clear of all mortgages, liens (statutory or otherwise), security interests, claims, pledges, licenses, equities, options, conditional sales contracts, assessments, levies, easements, covenants, reservations, restrictions, rights-of-way, exceptions, limitations, mineral rights, charges or Encumbrances of any nature whatsoever (collectively, "Liens") except, in the case of real property identified on Schedule 2.11(a), for Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings (and which have been sufficiently accrued or reserved against in the Company Statements), municipal and zoning ordinances and easements for public utilities, none of which interfere with the use of the property as currently utilized (the "Permitted Liens"). None of the assets, business or properties of the Company used or useful in the Company's business are subject to any restrictions with respect to the transferability thereof and title thereto will not be affected in any way by the transactions contemplated hereby other than as disclosed in Schedule 2.6(a).
Merchantable Title. At closing, the seller shall convey good and merchantable title via general warranty or other appropriate deed. The seller shall make all reasonable efforts to provide merchantable title. In the event that the title is unmerchantable, this contract shall be deemed canceled, resulting in a return of the binder deposit to the buyer within five (5) calendar days.
Merchantable Title a. The Church agrees to deliver to the City within Thirty (30) days after the date of this Agreement, a title insurance commitment for an owner's title insurance policy insured by a title insurance company authorized to do business in the State of Wyoming, covering title to the Indian Ridge Property as set forth hereinabove, showing merchantable title in the Church, subject only to: a) the general exceptions contained in the policy; b) Easements for Utilities; c) Subdivision Covenants, if any; d) subject to building and zoning regulations; e) City, County, and State subdivision laws; f) Reservations, restrictions and easements of record, if any; and g) title exceptions which may be removed by the payment of money at the time of closing and which the Church will so remove at the time of closing by using funds to be paid at closing. The title commitment shall be conclusive evidence of good title as therein shown, subject only to the exceptions therein stated.
b. The City agrees to deliver to the Church within Thirty (30) days after the date of this Agreement, a title insurance commitment for an owner's title insurance policy insured by a title insurance company authorized to do business in the State of Wyoming, covering title to the Regency Property as set forth hereinabove, showing merchantable title in the City, subject only to: a) the general exceptions contained in the policy; b) Easements for Utilities; c) Subdivision Covenants, if any; d) subject to building and zoning regulations; e) City, County, and State subdivision laws; f) Reservations, restrictions and easements of record, if any; and g) title exceptions which may be removed by the payment of money at the time of closing and which the City will so remove at the time of closing by using funds to be paid at closing. The title commitment shall be conclusive evidence of good title as therein shown, subject only to the exceptions therein stated.
c. The Church shall have to and including fifteen (15) days from receiving the title commitment to the Regency Property and all documents listed in the exceptions from the City, or the date of Closing, whichever sooner occurs, to review and approve the title insurance commitment. In the event that any condition or matter concerning the Regency Property or title shall exist which is unacceptable to the Church (an “Unacceptable Matter”), the Church shall notify the City of such Unacceptable Matter, specifying in detail any and all defects which he is unwilling ...
Merchantable Title. The Seller shall convey good and merchantable title in fee simple to said property to the buyer by warranty or other appropriate deed, free of all encumbrances, except as herein stated. The undersigned Xxxxxx agrees to furnish Buyer (at buyers expense) an abstract title commencing and assuming title at a point generally accepted by local practice, duly extended to date, or, in the alternative, at Seller’s election, an attorney’s title opinion, or title insurance policy issued by a company qualified to insure titles in Alabama, in the amount of the purchase price, insuring the Buyer against loss on account of any defect or encumbrance in the title, unless herein excepted and in the event an abstract of title or attorney’s title furnished and the title to said property is alleged to be unmerchantable by buyer’s attorney, then Seller may elect to furnish such title insurance policy, by a company qualified to insure titles in Alabama. If the property subject to this contract is part of a subdivision as shown by any map or plat of record in the office of the Judge of Probate of County, Alabama, then the abstract required shall begin with the instrument conveying title into the person, firm or corporation that created said subdivision. Customarily utility and drainage easements and restrictive covenants are accepted. In the event that the title is unmerchantable, non- refundable deposit will shall be refunded. Should the title chain have any issues both parties agree to extend the closing time for a reasonable length of time.
Merchantable Title. It is understood and agreed that this Agreement is conditioned upon City having good, valid and merchantable title in fee simple to said Property.
Merchantable Title. At closing, the seller shall convey good and merchantable title or other appropriate deed.
Merchantable Title. Except as set forth in Schedule 2.6(a), the Company has good and merchantable title to all of its assets, businesses and properties used or useful in its business and necessary to permit it to carry on its business as presently conducted, and with respect to real property leased by the Company for use in its business, good and marketable leasehold estates or lessee's interests, including, without limitation, all such properties (tangible and intangible) reflected in the Company Statements (except for inventory disposed of in the ordinary course of business since the date of such Company Statements) free and clear of all mortgages, liens (statutory or otherwise), security interests, claims, pledges, licenses, options to purchase or use, conditional sales contracts, assessments, levies, or Encumbrances of any nature whatsoever (collectively, "Liens"). None of the assets, businesses or properties of the Company used or useful in the Company's businesses are subject to any restrictions with respect to the transferability thereof and title thereto will not be adversely affected in any way by the transactions contemplated hereby other than as disclosed in Schedule 2.6(a).
Merchantable Title. Seller agrees to deliver to Purchaser a merchantable title, and his inability to deliver such title within the time stipulated herein shall render this purchase agreement null and void, reserving unto Purchaser the right to demand the immediate return of Purchaser’s deposit.
Merchantable Title. Except as set forth in Schedule 2.6 (a), the Company has good and merchantable title to all of the Assets, including, without limitation, all Assets reflected in the Company Statements (except for inventory disposed of in the ordinary course of business since the date of such Company Statements) free and clear of all mortgages, liens (statutory or otherwise), security interests, claims, pledges, licenses, equities, options, conditional sales contracts, assessments, levies, easements, covenants, reservations, restrictions, rights-of-way, exceptions, limitations, mineral rights, charges or Encumbrances of any nature whatsoever (collectively, "Liens") except for (a) materialmen's, mechanics', worker's, repairmen's, employees' or other like Liens arising against the Company in the ordinary course of business, in each case which are either not delinquent or are being contested in good faith and by appropriate actions or proceedings conducted with due diligence and for the payment of which adequate reserves in accordance with GAAP have been established with respect thereto, and (b) Liens for property taxes not yet due ("Permitted Liens"). Except as set forth in Schedule 2.6(a), none of the Assets is subject to any restrictions with respect to the transferability thereof and title thereto will not be affected in any way by the transactions contemplated hereby other than as disclosed in Schedule 2.6(a).
