Purchaser’s Examination of Title Sample Clauses

Purchaser’s Examination of Title. Purchaser, at his or her sole cost and expense, shall cause the title to the Property to be examined and shall notify Seller in writing, prior to the date set for Closing, of the existence of any encumbrances or defects which are not excepted in this Contract which render title unmarketable as defined by Vermont law. In such event, Seller shall have thirty (30) calendar days from the xxxx Xxxxxx receives such notice to remove the specified encumbrances or defects. Promptly following receipt of such notice, Seller shall exercise reasonable efforts and diligence to remove or cure the specified encumbrances or defects. If, at the expiration of thirty (30) calendar days from the receipt of such notice, or on the date set for Closing, whichever is later, Seller is unable to convey marketable title free and clear of such encumbrances or defects, Purchaser may terminate this Contract, and, if so, shall receive all Contract Deposits and, in addition, may pursue all legal and equitable remedies provided by law, including any damages incurred after the thirty (30) day period referred to above.
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Purchaser’s Examination of Title. Purchaser shall examine the title to the Property during the Due Diligence Period. Purchaser shall specify in writing to Seller not later than seven (7) days prior to the expiration of the Due Diligence Period those items which Purchaser desires to have removed prior to Closing (the “Encumbrances”). Within five (5) days after receipt of Purchaser’s objections to title, Seller shall notify Purchaser whether Seller will (i) cure the Encumbrances prior to Closing or (ii) decline to cure the Encumbrances. In terms of determining the merchantability of the title, the standards of the Louisiana Bar Association promulgated for real estate transactions shall apply and prevail.
Purchaser’s Examination of Title. The purchase of the Property shall be conditional upon the Purchaser being allowed sixty ninety (690) calendar days from the date of acceptance of this Agreement by the Vendor (the “Due Diligence Period”) to examine the title to the Property, to examine the documents referred to in Subsection 3.1 and to make inquiries of the city, public utilities and any government authority that the present or future use of the Property, as contemplated by the Purchaser may be lawful, and that there are no outstanding work orders or deficiency notices affecting the Property. If within the specified time as set forth in the foregoing, any valid objection is delivered to the Vendor as to title, the documents referred to in Subsection 3.1 or any outstanding work order of deficiency notice or to the fact that the Purchaser’s contemplated use of the Property is or will not be lawful, which the Vendor is unwilling to remove, remedy or satisfy and which the Purchaser will not waive, this Agreement, notwithstanding any intermediate acts or negotiations with respect to those objections, shall be terminated and the Deposit shall be repaid to the Purchaser without deduction or interest. If the Purchaser makes no communication to the Vendor within the time hereinbefore prescribed, the Purchaser shall be deemed to have found the title, the documents referred to in Subsection 3.1, municipal work orders, deficiency notices and the available or contemplated use of the Property, to be acceptable. – Note: the waiving of this condition is inconsistent with that of the conditions in 5.2-5.7. The way this reads is that if not satisfied or waived then the Offer is terminated.

Related to Purchaser’s Examination of Title

  • Condition of Title 5.1 If, prior to Closing (as hereinafter defined), a date-down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, do not exceed $25,000 (each, a "Minor Unpermitted Exception"), Seller shall, at Seller's expense, bond over, cure and/or have such Minor Unpermitted Exceptions removed from the Title Commitment or have the Title Insurer commit to insure against loss or damage that may be occasioned by such Minor Unpermitted Exceptions. Notwithstanding the foregoing, if such date down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, equal or exceed $25,000, Seller shall have the right, but not the obligation, to bond over, cure and/or have such exceptions removed from the Title Commitment or to have the Title Insurer commit to insure against loss or damage that may be occasioned by such Unpermitted Exceptions. If Seller fails to bond over, cure or have any Unpermitted Exception removed or have the Title Insurer commit to insure as specified above within five (5) business days from the date of the date down to the Title Commitment, Purchaser may terminate this Agreement upon written notice to Seller within three (3) days after the expiration of such five (5) business day period; provided, however, and notwithstanding anything contained herein to the contrary, if the Unpermitted Exception which gives rise to Purchaser's right to terminate was recorded against the Property as a result of the affirmative action of Seller (and not by any unrelated third party) or if Seller is able to bond over, cure or remove a Minor Unpermitted Exception for a cost not to exceed $25,000 or the Title Insurer is willing to insure over a Minor Unpermitted Exception for a cost not to exceed $25,000 in accordance with the terms hereof and Seller fails to expend such funds in either case, then Purchaser shall have the additional rights contained in Paragraph 14 herein. Absent notice from Purchaser to Seller in accordance with the preceding sentence, Purchaser shall be deemed to have elected to take title subject to said Unpermitted Exception, without any reduction in or setoff against the Purchase Price as a result thereof. If Purchaser terminates this Agreement in accordance with the terms of this Paragraph 5.1, this Agreement shall terminate without further action of the parties and all Earnest Money theretofore deposixxx xxxo the escrow by Purchaser, together with any interest accrued thereon, shall be returned to Purchaser, and neither party shall have any further liability to the other, except for those covenants and obligations that specifically survive termination of this Agreement.

  • Evidence of Title Evidence that title to a REO is held by the Trustee shall be submitted by the Servicer to the Master Servicer and, if applicable, to the Primary Mortgage Insurer and/or the Pool Insurer, within ten Business Days after marketable title to such REO has been acquired.

  • Conveyance of Title Upon closing, Seller shall execute and deliver to Buyer a Patent, Grant Deed, or Quit Claim Deed conveying title to the Cabin/Home Site. Buyer shall also receive a Xxxx of Sale executed by the current owner of the Personal Property in form of Exhibit B, attached hereto. If Buyer and the owner of the Personal Property are identical, then the Xxxx of Sale shall be returned to said party.

  • Reservation of Title STÜKEN reserves the right to the property for the delivered object until all payments under the contract of delivery have been made in full. The Customer may neither pledge nor assign the delivered object for security. He must inform XXXXXX immediately in the case of pledges as well as seizure or any other disposals by third parties. Should the Customer breach the terms of the written contract, including delinquent payment, STÜKEN reserves the right to reclaim the goods and the Customer agrees to return said goods to STÜKEN. STÜKEN's assertion of the reservation of title as well as the pledging of the delivered object shall not be deemed as a withdrawal from the contract. Further processing or rework of STÜKEN goods by the Customer may only be performed subsequent to receipt of written authorization from STÜKEN. Should the STÜKEN goods be further assembled or combined with other product/components which are not the property of STÜKEN, Customer shall grant to STÜKEN partial ownership of the created product in relation to the value of the STÜKEN goods to the created product. The Customer is entitled to sell the delivered goods - also after further processing - in usual and proper business transactions. However, he undertakes to reserve the right to ownership until his purchase price claim has been paid in full. Independent of this the Customer hereby assigns already the accounts receivable against his buyer to which he is entitled from the resale with all secondary rights to STÜKEN. In the event of the resale after processing the assignment shall apply as in the amount of the sale value of the reserved goods of STÜKEN. The buyer is entitled to collect the assigned accounts receivable from the third party buyer, undertakes however to remit these to STÜKEN immediately. STÜKEN reserves the right to also collect the account receivable directly from the third party buyer, who is to be named for this purpose. STÜKEN shall insofar release the securities held by him as their value shall exceed the accounts receivable to be secured by more than a total of 20 %.

  • Out of Title Work 17.1 No employee shall be employed under any title not appropriate to the duties to be performed and, except upon assignment by proper authority during the continuance of a temporary emergency situation, no person shall be assigned to perform the duties of any position unless he/she has been duly appointed, promoted, transferred or reinstated to such position in accordance with the provisions of the Civil Service Law, Rules and Regulations.

  • Retention of Title Supplied Goods shall remain Seller’s property until fulfillment by Customer of its payment obligations as described above. As such:

  • SEPARATE DOCUMENT OF TITLE In the event that the separate document of title to the Property has been or is issued whether prior to, on or after the auction sale.

  • PASSING OF TITLE (A) Upon the Auctioneer's call of "SOLD", title of the offered lot will pass to the highest Bidder acknowledged by the Auctioneer, subject to the conditions set forth here, and such Bidder thereupon (a) assumes full risk and responsibility therefor and neither the Seller no Xxxxxxx- Xxxxxxx or its agents shall be responsible for the loss of, or any damage to any article due to the theft, fire, breakage or any cause whatsoever, however occasioned, (b) will sign a confirmation of purchase thereof, and (c) will thereupon pay the full purchase thereof. All property must be removed form our premises by the Purchaser at their expense no later than 72 hours following the completion of the sale, and if it is not so removed, a handling charge of 10% (ten percent) of the purchase price will be payable by the Purchaser per month, until its removed, with minimum of 20% (TWENTY PERCENT) for any property not so removed within 60 days after the sale. After 90 days, Xxxxxxx-Xxxxxxx may dispose of the property. PURCHASER HEREBY WAIVES ALL REQUIREMENTS OF NOTICE, ADVERTISEMENT AND DISPOSITION OF PROCEEDS REQUIRED BY LAW, AND RELEASES XXXXXXX-XXXXXXX FROM ANY LIABILITIES WHATSOEVER IN CONNECTION WITH SUCH DISPOSAL.

  • Warranty of Title Seller warrants that at the time of signing this Agreement, Seller neither knows, nor has reason to know, of the existence of any outstanding title or claim of title hostile to the rights of Seller in the goods.

  • Transfer of Title and Risk (a) The parties acknowledge that despite the receipt by the Merchant pursuant to this Agreement, title and risk in respect of the Produce shall only pass in accordance with subclause 2.3(b).

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