Objection and Cure Period. If the Title Insurer raises additional title exceptions in any version of the Title Commitment issued at or before the Closing and such additional title exceptions do not constitute Permitted Exceptions or Removable Liens (hereinafter defined), then Seller may, at its election, within ten (10) days after receipt of the subsequent version of the Title Commitment, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Commitment; (b) cause the Title Insurer to expressly waive or insure over such non-permitted matters; or (c) cause the Title Insurer to agree to delete or insure over such non-permitted matters at the Closing. Except for Removable Liens and additional exceptions to title resulting from a breach by Seller under Section 5.5 hereof, Seller shall have no obligation to elect the alternatives set forth in clauses (a), (b) or (c) of this Section 5.4. If Seller fails or elects not to take any of the actions described in clauses (a), (b) or (c) above with respect to the non-permitted matters within the aforementioned ten (10) day period, Purchaser may by written notice to Seller delivered within five (5) days after the expiration of Seller's 10-day cure period elect, as its sole remedy (except as expressly provided in the last sentence of this grammatical paragraph), to: (x) terminate this Agreement, in which case all of the Xxxxxxx Money, less the Reimbursement Amount, shall be returned to Purchaser provided Purchaser has complied with Purchaser's obligations under the third grammatical paragraph of Article 4 hereof; or (y) agree to take title as shown in the most recent Title Commitment, in which case, the Permitted Exceptions shall be expanded to include the additional matters not removed, waived or insured over, but with a deduction from and offset against the Purchase Price for all Removable Liens. The Closing Date shall be delayed to the extent necessary to allow for Seller's 10-day cure period and Purchaser's 5-day election period. Notwithstanding anything contained herein to the contrary, if any additional exceptions to title result from a breach by Seller under Section 5.5 hereof and Seller fails or refuses to take any of the actions described in clauses (a), (b) or (c) above with respect to any such exceptions, Purchaser may pursue against Seller any rights or remedies available at law or in equity with respect to such breach, subject, however, to the last sentence of Section 10.2 hereof.
Objection and Cure Period. (a) If the Purchaser's Title Report and/or Survey contain any matters not constituting Permitted Exceptions or Removable Liens (hereinafter defined), then Seller may, at its election, within ten (10) days after receipt from Purchaser of the Permitted Exceptions or a subsequent version of the Preliminary Title Report, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Report; (b) cause the Title Insurer to expressly waive such non-permitted matters as may be mutually agreed to by Seller and Purchaser; (c) agree in writing to cause such non-permitted matters to be deleted at or prior to the Closing. Seller shall cause all Removable Liens to be satisfied or discharged as of the date of Closing, subject to the provisions of this Section 10.4.
Objection and Cure Period. If any Title Commitment or Preliminary Survey or any updates of any of them contain any matters not constituting Permitted Exceptions or liens which are of a definite and ascertainable amount which can be removed at Closing by payment of money (“Removable Liens”), then the Seller may, at its election, within thirty (30) days after Seller’s receipt from Purchaser of the Permitted Exceptions or a subsequent version of the Title Commitment or Survey, as the case may be: (a) cause the non-permitted matters to be deleted from the Title Commitment; (b) subject to Purchaser’s approval of such arrangement (acting reasonably), cause the Title Insurer expressly to insure over such non-permitted matters; or (c) object in writing to Purchaser to the exclusion of any one or more of such matters as a Permitted Exception. If Seller fails or elects not to cause all of the non-permitted matters to be deleted or insured over within the aforementioned thirty (30) day period, Purchaser may by written notice to Seller within five (5) days after the expiration of Seller’s 30-day objection and cure period elect to: (x) terminate this Agreement, in which case all of the Xxxxxxx Money shall be returned to Purchaser, or (y) agree to take title subject to the matters at issue, in which case the Permitted Exceptions shall be expanded to include the additional matters not deleted or insured over, but with a deduction from and offset against the Purchase Price for all Removable Liens. If the updated Title Commitment or Survey containing the non-permitted matter is issued within thirty
