Notice of Title Objections. With respect to all Owned Real Property including any title information provided by the Abstractor with respect to any Held Easements, Illinois-American shall have the right to obtain, at its sole cost and expense, one or more commitments for an owner's policy or policies of title insurance on the current ALTA’s Owner's Form (each, a “Title Commitment”), issued by a title insurance company selected by Illinois- American and licensed by the State of Illinois (the “Title Company”) covering any such Real Property. Within thirty (30) days of Illinois-American’s receipt from the Title Company of any such Title Commitment, Illinois-American shall deliver to Tolono a complete copy of such Title Commitment and copies of any and all exception documents listed in the same, each as received from the Title Company, along with Illinois-American's written notice to Tolono of any of the exceptions to title set forth on Schedule B of the Title Commitment to which Illinois-American objects (such written notice of Illinois-American being referred to as the “Objection Notice”) provided such exceptions (i) are not Permitted Liens, (ii) are not Schedule B-I exceptions to be satisfied by Illinois-American prior to Closing, (iii) being matters of record and set forth in the Title Commitment, do not adversely restrict or prevent the use of the Owned Real Property in the operation of the System as currently operated, and (iv) are not the Title Company's pre-printed standard “survey”, “unrecorded easement” or “discrepancy in boundary line” exceptions that do not adversely restrict or prevent the use of the Owned Real Property in the operation of the System as currently operated (such exceptions objected to in the Objection Notice, provided the same are not any as described in clauses (i) through and including (iv) as aforesaid, being referred to as the “Title Objection Items”). In the event that Illinois-American provides Tolono with an Objection Notice, Tolono shall use commercially reasonable efforts to have all of the Title Objection Items cured, satisfied or released of record, or insured over, by the Title Company (individually, “Cure” and collectively, “Cured”) prior to or as of the Closing. At or prior to the Closing, Tolono shall deliver written evidence to Illinois-American, in form and substance reasonably satisfactory to Illinois-American, evidencing that Tolono has Cured all such Title Objection Items. For avoidance of doubt, Illinois-American acknowledges that no item ...
