STATUS OF TITLE/LEASEHOLD INTERESTS Sample Clauses

STATUS OF TITLE/LEASEHOLD INTERESTS. No later than 15 days after the Execution Date, Snake River will provide Intermountain with title reports for the Xxxxxxx and Magic Valley Mall Properties issued by Twin Falls Title, and for the Main Office Property issued by Title Fact, Inc., or such other title insurance companies reasonably satisfactory to the parties. These title reports must show the current status of title to each such Property. Within 15 days after the date on which Snake River delivers all of the title reports to Intermountain for its review, Intermountain will inform Snake River in writing whether, and in what manner, it objects to any of the exceptions to title shown on any of the title reports. Intermountain may not object to any item on the title reports that was also shown on the title policies delivered pursuant to Section 3.1.6(iv) unless set forth in Schedule 13. Snake River will, within 10 days of the date on which it receives the written notice of objection from Intermountain, inform Intermountain if there are any objections that it is unable to remove at or prior to Closing. Snake River will not, however, be obligated to remove exceptions that are non-monetary exceptions that do not interfere with the use of the properties as bank branch locations. At Closing, Snake River will provide Intermountain with title policies issued with respect to each of the Xxxxxxx and Magic Valley Mall Properties, in an amount commensurate with the value of each such Property as agreed upon by Intermountain and Snake River, dated as of the Effective Date, insuring fee title in Intermountain or Panhandle, as so designated by Intermountain, and that each such Property is unencumbered by any Liens, other than Liens for taxes not yet delinquent and other exceptions to title as set forth in the title reports as approved by Intermountain.

STATUS OF TITLE/LEASEHOLD INTERESTS. NP and NPB will provide HFC and Bank with status of title reports issued by a title insurance company reasonably satisfactory to HFC showing unencumbered fee simple title or vendee's interest to all real property owned by NP and NPB, and unencumbered leasehold interests in all real property leased by NP or NPB, and containing only such exceptions, reservations and encumbrances as may be consented to in writing by HFC or are described in clauses (a) through (d) of Section 4.1.7(i) of this Agreement. With respect to such real property, NP and NPB will also provide to HFC copies of existing title policies held in their files, unless NP or NPB have reason to know of subsequent changes or unless HFC expressly requests an updated policy for any specific piece of property. Any updated policy will be an ALTA extended owner's policy with no exception other than those set forth above.

STATUS OF TITLE/LEASEHOLD INTERESTS. CDC will use its reasonable best efforts to provide Glacier, no later than 30 days after the Execution Date, title reports for the Real Property issued by title insurance companies reasonably satisfactory to the parties (the “Title Companies”). These title reports must show the current status of title to the Real Property. Within 15 days after the date on which CDC delivers all of the title reports to Glacier for its review, Glacier will inform CDC in writing whether, and in what manner, it objects to any of the exceptions to title shown on any of the title reports. CDC will, within 10 days of the date on which it receives the written notice of objection from Glacier, inform Glacier if there are any objections that it is unable to remove at or prior to Closing. CDC will not, however, be obligated to remove exceptions that are non-monetary exceptions that do not prohibit or materially interfere with the use of the properties as bank branch locations. At Closing, if requested by Glacier, CDC will cause the Title Companies to provide Glacier with standard coverage title insurance policies issued with respect to each of the Properties, in an amount commensurate with the value of each such Property as agreed upon by Glacier and CDC, dated as of the Effective Date, insuring fee title in Glacier or such subsidiary of Glacier, as so designated by Glacier, and that each such Real Property is unencumbered by any Liens, other than Liens for taxes not yet delinquent and other exceptions to title as set forth in the title reports as approved by Glacier.