Pro Forma Title Policies Clause Samples
The Pro Forma Title Policies clause establishes the requirement for providing a preliminary version of the title insurance policy, known as a pro forma, before the closing of a real estate transaction. This pro forma outlines the terms, conditions, and coverage that the final title policy will include, allowing parties to review and address any exceptions or issues in advance. By doing so, the clause ensures transparency and gives both buyers and lenders the opportunity to confirm that the title insurance will meet their expectations, thereby reducing the risk of disputes or surprises at closing.
Pro Forma Title Policies. To facilitate Closing, the Parties shall direct the Title Company to prepare and deliver to Sellers and Buyer, at least five Business Days before the Closing Date, a pro forma of the Title Policies for each Hotel, reflecting the substantive form in which the Title Company then anticipates issuing such policy as of Closing.
Pro Forma Title Policies. The Pro-Forma Title Policies prepared and delivered by the Escrow Agent to Transferee on or before the expiration of the Due Diligence Period, with respect to the issuance by the Escrow Agent of an owner’s policy of title insurance insuring each Facility Owner’s title to the applicable Real Property, effective as of the acquisition by Transferee of the ownership of Transferor’s Interest as provided herein.
Pro Forma Title Policies. 41 10.3 Sellers' Deliveries................................................41 10.4 Buyer's Deliveries.................................................42 10.5 Closing Costs......................................................43
Pro Forma Title Policies. Notwithstanding Section 6.4 or anything else to the contrary in this Agreement, if Buyer provides Sellers with copies of pro forma title policies for the Property approved by the Title Company (the “Pro Forma Policies”) prior to expiration of the Inspection Period, then the forms of the Title Policies required to be issued under Section 6.2 as a condition to Buyer’s obligation to proceed with the Closing shall be the forms of the title policies provided for in such Pro Forma Policies (including as “Permitted Exceptions” only those title exceptions set forth in such Pro Forma Policies).