Preliminary Title Reports; Surveys Sample Clauses
Preliminary Title Reports; Surveys. Buyer acknowledges that Seller has made available to Buyer a preliminary title commitment for each Material Owned Real Property, prepared by Chicago Title Insurance Company (in such capacity, the “Title Company”), together with all documents referenced as exceptions in each such commitment (the “Title Commitments”). In its sole discretion and at its sole expense Buyer may order a current survey for such Material Owned Real Property, in form reasonably satisfactory to Buyer and the Title Company (collectively, the “Surveys”). Seller shall reasonably cooperate with Buyer so it can obtain the Surveys and, if Buyer elects in its sole discretion and at its sole expense, owner’s policies of title insurance issued by the Title Company, including by executing such Consents or other instruments as may be reasonably requested by the Title Company in connection therewith and providing reasonable access to the Material Owned Real Property to the surveyors. Seller further covenants and agrees that it shall (and shall cause the Company Group to) make commercially reasonable efforts to obtain, on or before the Closing Date, recordable satisfactions, reconveyances, releases and discharges, as applicable, of any mortgages, deeds of trust, deeds to secure debt and similar instruments that secure indebtedness previously repaid in full that are disclosed in any Title Commitment as an encumbrance upon the interest of the Company Group in the real property described therein.
Preliminary Title Reports; Surveys. On or before the twentieth day after the date of this Agreement, Seller shall order a current preliminary title report and commitments for an American Land Title Association extended coverage owner’s policy of title insurance (collectively, the “PTRs”) for each Transferred Facility from First American Title Insurance Company (in such capacity, “Title Company”), and instruct the Title Company to deliver them to Buyer and Seller together with legible copies of all documents referenced as exceptions in the PTRs (collectively, the “Underlying Documents”). After receipt of the PTRs and the Underlying Documents for any Transferred Facility, in its sole discretion Buyer may order a current survey for such Transferred Facility, in form reasonably satisfactory to Buyer and Title Company (collectively, the “Surveys”). Seller shall reasonably cooperate with Buyer so it can obtain the Surveys and owner’s policies of title insurance, including by executing such written consents or other instruments as may be reasonably requested by the Title Company in connection therewith and providing reasonable access to the Transferred Facilities to the surveyors.