Review of Preliminary Report Sample Clauses

Review of Preliminary Report. Prior to the date hereof, Seller has reviewed on behalf of the Buyer and approved the Preliminary Report, the Permitted Exceptions and copies of all recorded documents described in the Preliminary Report. If any new exceptions to title appear of record prior to the Closing Date, Escrow Agent shall deliver to Seller and Buyer a supplemental preliminary report (“Supplemental Report”) issued by Title Company, together with legible copies of all recorded documents. Buyer shall have three (3) Business Days to review and deliver to Seller and Escrow Agent notice of approval or disapproval of any Supplemental Report; provided, however, that Buyer shall not unreasonably withhold its approval of any items, including, without limitation, easements, rights-of-way and other matters which do not have a material and adverse impact on the value of the Interest. Buyer’s failure to deliver notice of disapproval shall be deemed to be Buyer’s approval of any Supplemental Report. If Buyer delivers notice of disapproval and Seller elects in its sole discretion to do so, within five (5) Business Days of the delivery of Buyer’s notice, Seller may elect by written notice to Buyer to remove (or otherwise cure in a manner reasonably satisfactory to Buyer) any disapproved items at or prior to the Closing Date. If Seller does not deliver such written notice to Buyer, Seller shall be deemed to have elected not to remove (or otherwise cure) the disapproved items. If Seller elects not to remove any such item(s), Buyer may either waive its prior disapproval or terminate this Agreement by delivering a written notice of termination to Seller within three (3) Business Days after Seller’s election. If Buyer does not elect to terminate this Agreement as provided above, Buyer shall be deemed to have waived its disapproval. If Buyer so delivers notice of its election to terminate this Agreement, then this Agreement shall terminate as provided in Section 2.4 above.
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Review of Preliminary Report. Buyer has been provided a Preliminary Report issued by the Title Company ("Preliminary Report"), together with legible copies of all recorded documents described in the Preliminary Report. Buyer has reviewed and approved the Preliminary Report, except as set forth in Exhibit F attached hereto. If any title exceptions are recorded against the Property before the Close of Escrow in addition to those
Review of Preliminary Report. 4 4.2 Title Delivered at Closing......................................4
Review of Preliminary Report. Within ten (10) days after the Effective Date, Seller shall provide Purchaser with a preliminary title report issued by the Escrow Holder, describing title to the Property, and including legible copies of all recorded documents described in the preliminary report and plotted easements (collectively, the “Preliminary Report”). On or before ten (10) days after Purchaser’s receipt of the Preliminary Report, Purchaser shall deliver written notice of approval or disapproval of matters disclosed in the Preliminary Report, which approval or disapproval shall be in Purchaser’s sole and absolute discretion. Failure of Purchaser to deliver notice of disapproval of any matters disclosed in the Preliminary Report within such ten (10) day period shall be deemed rejection of all such matters. Unless a disapproved item is waived pursuant to Section 4.6, the approved matters disclosed in the Preliminary Report along with the standard printed exceptions on a form of title insurance policy, shall be the “Permitted
Review of Preliminary Report. Prior to the date hereof, Buyer will receive from Escrow a Title Report (as defined below) to review and retain for their records. If any new exceptions to title appear of record prior to the Closing Date, the Escrow Agent shall deliver to Buyer a supplemental report (“Supplemental Report”) issued by the Title Company. If Buyer objects to any items on the Title Report or Supplemental Report that will not be removed at closing within three (3) days of receipt of either report, Buyer must notify the Escrow Agent in writing. If any additional items appear that are not the result of an act, omission or negligence of Sellers, then Buyer’s only remedy is to terminate Escrow and, if Buyer does not so elect to terminate Escrow, Buyer shall be deemed to have consented to any such new exceptions to

Related to Review of Preliminary Report

  • Preliminary Title Report (a) Not later than four (4) business days after the date of this Agreement, Seller, with Buyer's assistance and cooperation as necessary, shall arrange for the Title Company to prepare and deliver to Buyer a preliminary title report (the "Title Report") covering the Real Property dated not earlier than the date of this Agreement, such report showing all matters of record and all items which would be shown as exceptions on a ALTA owner's policy of title insurance, together with a recent ALTA survey of the Real Property certified by a licensed land surveyor and a legible copy of each recorded document underlying any exceptions shown in the Title Report. Subject only to the following permitted exceptions (the "Permitted Exceptions"), Seller shall cause all exceptions to title to the Real Property set forth in such Title Report to be removed prior to the Closing: (1) the standard printed exceptions contained in the Title Company's form of Owner's Policy; (2) building restrictions and zoning regulations heretofore or hereafter adopted by any municipal or other public authority relating to the Property; (3) current property taxes not yet delinquent; (4) the exceptions approved by Buyer in accordance with Section 5.13(b); and (5) any exception to which Buyer, in Buyer's sole discretion, specifically and expressly consents in writing prior to the Closing. Buyer shall pay all fees and costs associated with obtaining the Title Report. (b) Buyer shall have until 5:00 p.m. (Los Angeles time) on the fifth (5th) calendar day following Buyer's receipt of the Title Report to disapprove, in Buyer's sole discretion, any matters set forth in the Title Report; provided, however, that Buyer may not disapprove of the exceptions described in items (1), (2) and (3) of Section 5.13(a). If Buyer timely disapproves of any matters set forth in the Title Report, other than with respect to the exceptions described in items (1), (2) and (3) of Section 5.13(a), Seller shall have three (3) business days to indicate in writing whether Seller will cause such disapproved matters to be removed as exceptions to title prior to or concurrently with the Closing. Seller's failure to timely respond shall be deemed to constitute Seller's irrevocable agreement to remove all such disapproved matters as exceptions to title. If Seller timely indicates that it is unwilling to remove any such disapproved matters as exceptions to title, Buyer may elect to (i) proceed with the transaction contemplated hereby and take title subject to such disapproved matters, or (ii) terminate this Agreement. Buyer's failure to make such election within three (3) business days after being informed of Seller's decision shall be deemed an election of option (i). If Buyer terminates this Agreement pursuant to this Section 5.13(b), the Deposit (and all interest accrued thereon) shall be returned to Buyer, and the parties shall have no further obligations to one another except for any obligations that, by their terms, survive the termination of this Agreement.

  • Title Report If no Additional Mortgage Policy is required with respect to such Additional Mortgaged Property, a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the date such Additional Mortgage is to be recorded and satisfactory in form and substance to Administrative Agent;

  • Final Report The goal of this subtask is to prepare a comprehensive Final Report that describes the original purpose, approach, results, and conclusions of the work performed under this Agreement. The CAM will review the Final Report, which will be due at least two months before the Agreement end date. When creating the Final Report Outline and the Final Report, the Recipient must use the Style Manual provided by the CAM.

  • Preliminary Settlement Statement Seller and Buyer shall execute and deliver the Preliminary Settlement Statement.

  • Problem Statement School bus fleets are aging, and our communities have poor air quality. Replacing school buses with zero emission school buses will address both of these issues.

  • Preliminary Examination 24.1 The Purchaser will examine the bids to determine whether they are complete, whether any computational errors have been made, whether required sureties have been furnished, whether the documents have been properly signed, and whether the bids are generally in order. 24.2 Arithmetical errors will be rectified on the following basis. If there is a discrepancy between the unit price and the total price that is obtained by multiplying the unit price and quantity, the unit price shall prevail, and the total price shall be corrected. If the Supplier does not accept the correction of the errors, its bid will be rejected, and its bid security may be forfeited. If there is a discrepancy between words and figures, the amount in words will prevail. 24.3 The Purchaser may waive any minor informality, nonconformity, or irregularity in a bid which does not constitute a material deviation, provided such waiver does not prejudice or affect the relative ranking of any Bidder. 24.4 Prior to the detailed evaluation, pursuant to ITB Clause 25 the Purchaser will determine the substantial responsiveness of each bid to the bidding documents. For purposes of these Clauses, a substantially responsive bid is one which conforms to all the terms and conditions of the bidding documents without material deviations. Deviations from, or objections or reservations to critical provisions, such as those concerning Bid Security (ITB Clause 15), Applicable Law (GCC Clause 30), and Taxes and Duties (GCC Clause 32), will be deemed to be a material deviation. The Purchaser’s determination of a bid’s responsiveness is to be based on the contents of the bid itself without recourse to extrinsic evidence.

  • Title Reports With respect to each Closing Date Mortgaged Property listed in Part B of Schedule 4.1N annexed hereto, a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the Closing Date and satisfactory in form and substance to Administrative Agent;

  • Initial Report An initial performance report no later than 30 days after FEMA has approved the first Public Assistance project.

  • BACKGROUND STATEMENT The Borrower has requested that the Lenders make available a revolving credit facility in the aggregate principal amount of $400,000,000. The Lenders are willing to make available to the Borrower the revolving credit facility provided for herein subject to and on the terms and conditions set forth in this Agreement.

  • Preliminary Matters 3.1. At least five (5) days prior to the pre-construction meeting described in Section 3.2, Contractor shall submit to Consultant for Consultant’s review and acceptance: 3.1.1. A progress schedule in the indicated form: Bar Chart Modified Critical Path Method (“CPM”) CPM Computerized CPM (CPM is interpreted to be generally as outlined in the Association of General Contractors (“AGC”) publication, “The Use of CPM in Construction.”) The progress schedule shall indicate the start and completion dates of the various stages of the Work, and shall show an activity network for the planning and execution of the Work. Included with the progress schedule shall be a narrative description of the progress schedule. The progress schedule must be updated monthly by Contractor, submitted as part of each Application for Payment, and must be acceptable to Consultant. 3.1.2. A preliminary schedule of Shop Drawing submissions; and 3.1.3. In a lump sum contract or in a contract that includes lump sum bid items of Work, a preliminary schedule of values for all of the Work that includes quantities and prices of items aggregating the Contract Price and that subdivides the Work into component parts in sufficient detail to serve as the basis for progress payments during construction. Such prices will include a breakdown of labor, equipment, materials, and an appropriate amount of overhead and profit applicable to each item of Work, which amounts Contractor must confirm in writing at the time of submission. In addition, after award but prior to the submission of the progress schedule, Consultant, Contract Administrator, and Contractor shall meet with all utility owners and secure from them a schedule of utility relocation; provided, however, that neither Consultant nor Town shall be responsible for the nonperformance by the utility owners. 3.2. At a time specified by Consultant, but before Contractor starts the Work at the Project site, a conference attended by Contractor, Consultant, and others as deemed appropriate by Contract Administrator, will be held to discuss the schedules referred to in Section 3.1; to discuss procedures for handling Shop Drawings and other submittals and for processing Applications for Payment; and to establish a working understanding among the Parties as to the Work. 3.3. Within thirty-five (35) days from the Project Initiation Date set forth in the applicable Notice to Proceed, a conference attended by Contractor, Consultant, and others, as appropriate, will be held to finalize the schedules submitted in accordance with Section 3.1. Within forty-five

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