Real Property Title Issues Sample Clauses

Real Property Title Issues. Following the execution of this Agreement, the Buyer Parties will order or have ordered commitments (the “Commitments”) for such Title Insurance Policies (the “Policies”) from Chicago Title Insurance Company (the “Title Company”) and/or surveys (“Surveys”) from Xxxx Group with respect to such parcels of Real Property which the Buyer Parties shall deem necessary. Seller shall prior to Closing, and at its sole cost and expense, undertake all actions set forth on Schedule 5.11 (the “Title Actions”). With respect to those parcels of Real Property identified on Schedule 5.11 for which Commitments have not been obtained as of the date of this Agreement, Buyer shall use its best efforts to promptly obtain the results of Commitments and/or Surveys prior to Closing. Upon receipt of the results of such Commitments and/or Surveys, the Parties hereto shall use their best efforts to reach a mutually agreeable description of actions which the Seller shall take at its sole cost and expense to correct and address any title defects or issues identified by Commitments and/or Surveys (“Title Defect Corrections”). Upon such mutual agreement on the Title Defect Actions, such actions comprising the Title Defect Corrections shall become part of the Title Actions and shall be listed on Schedule 5.11. If the Parties are unable to mutually agree on the Title Defect Corrections, then the Buyer Parties shall have the option, in their sole discretion, to either: (a) waive the condition to Closing set forth in Section 7.1(s), or (b) terminate this Agreement. If Seller fails to perform all Title Actions prior to Closing, the Buyer Parties may perform such actions after Closing and all such actions undertaken by Buyer shall be at Seller’s sole cost and expense.
Sample 1
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Related to Real Property Title Issues

  • Title; Real Property (a) Each Group Member has good and marketable fee simple title to all owned real property and valid leasehold interests in all leased real property, and owns all personal property, in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Borrower, and none of such property is subject to any Lien except Permitted Liens.

  • Real Property Interests Except for leasehold interests disclosed on Schedule 3.20, and except for the ownership or other interests set forth on Schedule 3.20, no Credit Party has, as of the Closing Date, any ownership, leasehold or other interest in real property. Schedule 3.20 sets forth, with respect to each parcel of real estate owned by any Credit Party as of the Closing Date, the address and legal description of such parcel.

  • Property Title (a) Borrower has good and marketable fee simple legal and equitable title to the real property comprising the Property, subject to Permitted Liens. The Mortgage Documents, when properly recorded and/or filed in the appropriate records, will create (i) a valid, first priority, perfected Lien on Borrower’s interest in the Property, subject only to the Permitted Liens, and (ii) perfected security interests in and to, and perfected collateral assignments of, all personalty (including the Leases), all in accordance with the terms thereof, in each case subject only to the Permitted Liens.

  • Title Policies The Title Company shall be prepared, -------------- subject only to payment of the applicable premium, endorsement and related fees and delivery of all conveyance documents in recordable form, to issue a title insurance policy to Purchaser, subject only to the Permitted Encumbrances, in accordance with Section 3.3. -----------

  • Real Property (a) The Company does not own any real property.

  • Real Property; Title to Assets (a) The Company does not own any real property.

  • Real Property; Fixtures Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having a fair market value in excess of $1,000,000 it will promptly (and in any event within two (2) Business Days of acquisition) notify Agent of the acquisition of such Real Property and will grant to Agent, for the benefit of the Lender Group and the Bank Product Providers, a first priority Mortgage on each fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to Agent, in connection with the grant of such Mortgage as Agent shall request in its Permitted Discretion, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;

  • Title Policy The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Real Property Matters The Company does not own any real property as of the date hereof and has not owned any real property during the three years preceding the date hereof.

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