Status of Title; Permitted Encumbrances; Objections Sample Clauses

Status of Title; Permitted Encumbrances; Objections. Up and until the closing on the Premises, Purchaser may provide Sellers with written objections to the extent that the Title Commitment reveals matters other than the Permitted Encumbrances (the "Objections") which constitute a monetary lien or may interfere with Purchaser’s use of the Premises for its intended purpose. Purchaser’s failure to make Objections within such time period will constitute a waiver of Purchaser’s right to make Objections. Sellers shall satisfy Objections or Purchaser waives the objections at the Closing. In the event Sellers elect not to cure the Objection(s), Purchaser may terminate this Agreement by giving notice of termination to Sellers at closing. Sellers shall provide Purchaser with evidence, satisfactory to Purchaser, in its sole discretion, that the Objections will be fully cured and/or released on the date of Closing or that the Title Company will issue satisfactory endorsements to the final Title Policy insuring against the risks associated with same. In the event the Objections are not cured or removed, or in the event Sellers cannot provide satisfactory evidence that the Objections will be cured on or before the date of Closing or that satisfactory endorsements to the Title Policy will be issued, Purchaser shall make its election, at closing, by written notice to Sellers, to either:
Sample 1
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Status of Title; Permitted Encumbrances; Objections. Up and until five (5) days prior to the Closing Date (the “Deadline for Objections”), the City may provide Sellers with written objections to the extent that the Title Commitment reveals matters other than the Permitted Encumbrances (the "Objections") which constitute a monetary lien or which interfere with the City’s use of the Premises for its intended purpose. The City’s failure to make written Objections by the Deadline for Objections will constitute a waiver of the City’s right to make Objections. Upon the City giving Sellers written notice of Objections, Sellers may either agree in writing to satisfy the Objections, or in the absence of Sellers’ written agreement to satisfy, the City shall either waive the Objections, five (5) days prior to the Closing or terminate this Agreement. In the event the Objections are not cured or removed, or in the event Sellers cannot provide satisfactory evidence that the Objections will be cured on or before the Closing Date or that satisfactory endorsements to the Title Policy will be issued in order to satisfy the Objections, the City shall make its election at closing, by written notice to Sellers, to either:
Sample 1
Status of Title; Permitted Encumbrances; Objections. Within thirty (30) days after receipt of the Title Evidence, Purchaser may provide the City with written objections to the extent that the Title Evidence reveals matters other than the Permitted Encumbrances (the "Objections") which constitute a monetary lien or may interfere with Purchaser’s Intended Purpose. Purchaser’s failure to make Objections within such time period will constitute a waiver of Purchaser’s right to make Objections. To the extent the Objections constitute a monetary lien against the Premises, the City shall satisfy those Objections at the Closing. For all other Objections, the City shall have ten (10) days after receipt of written notice of such Objections by Purchaser, to notify Purchaser whether the City will cure the Objections (“City’s Notification”). The City shall have no obligation to cure any Objections. In the event the City elects not to cure the Objections, Purchaser may terminate this Agreement by giving written notice of termination to the City within twenty business (20) days of the City’s Notification. If the City elects to cure or remove any Objections, the City shall have ten (10) days to cure or remove the Objections. In the event the Objections cannot be cured or removed until Closing, the City shall provide Purchaser with evidence, satisfactory to Purchaser, in its sole discretion, that the Objections will be fully cured and/or released on the date of Closing or that the Title Company will issue satisfactory endorsements to the final Title Policy insuring against the risks associated with same. In the event the Objections are not cured or removed within said ten (10) day period, or in the event the City cannot provide satisfactory evidence within said ten (10) day period that the Objections will be cured on or before the date of Closing or that satisfactory endorsements to the Title Policy will be issued, Purchaser shall make its election, within five (5) business days after expiration of the ten (10) day period, by written notice to the City, to either:
Sample 1
Status of Title; Permitted Encumbrances; Objections. Up and until fifteen (15) days prior to the Closing Date (the “Deadline for Objections”), the Purchaser may provide the City with written objections to the extent that the Title Commitment reveals matters other than the Permitted Encumbrances (the "Objections") which constitute a monetary lien or which interfere with the Purchaser’s use of the Premises for its intended purpose. The Purchaser’s failure to make written Objections by the Deadline for Objections will constitute a waiver of the Purchaser’s right to make Objections. Upon the Purchaser giving the City written notice of Objections, the City may either agree in writing to satisfy the Objections, or in the absence of the City’s written agreement to satisfy, the Purchaser shall either waive the Objections, five
Sample 1

Related to Status of Title; Permitted Encumbrances; Objections

  • Permitted Encumbrances The term “Permitted Encumbrances” shall mean:

  • Title Encumbrances Is the Property sold subject to any Encumbrances? No Yes, listed below: ■ WARNING TO SELLER: You are required to disclose all Title Encumbrances which will remain after settlement (for example, easements on your title and statutory easements for sewerage and drainage which may not appear on a title search). Failure to disclose these may entitle the Buyer to terminate the contract or to compensation. It is NOT sufficient to state "refer to title", "search will reveal", or similar. Tenancies: TENANTS NAME: ■ If the property is sold with vacant possession from settlement, insert 'Nil'. Otherwise complete details from Residential Tenancy Agreement. TERM AND OPTIONS: STARTING DATE OF TERM: ENDING DATE OF TERM: RENT: BOND: $ $ Managing Agent: AGENCY NAME: PROPERTY MANAGER: ADDRESS: SUBURB: STATE: POSTCODE: PHONE: FAX: MOBILE: EMAIL: POOL SAFETY

  • Liens and Encumbrances The Company shall not directly or indirectly make, create, incur, assume or permit to exist any assignment, transfer, pledge, mortgage, security interest or other lien or encumbrance of any nature in, to or against any part of the Pledged Property or of the Company's capital stock, or offer or agree to do so, or own or acquire or agree to acquire any asset or property of any character subject to any of the foregoing encumbrances (including any conditional sale contract or other title retention agreement), or assign, pledge or in any way transfer or encumber its right to receive any income or other distribution or proceeds from any part of the Pledged Property or the Company's capital stock; or enter into any sale-leaseback financing respecting any part of the Pledged Property as lessee, or cause or assist the inception or continuation of any of the foregoing.

  • Permitted Exceptions The Property shall be conveyed subject to the matters which are, or are deemed to be, Permitted Exceptions pursuant to Article II hereof (herein referred to collectively as the “Permitted Exceptions”).

  • No Encumbrances Borrower has good and indefeasible title to the Collateral, free and clear of Liens except for Permitted Liens.

  • ENCUMBRANCES/LIENS The Contractor shall not cause or permit any lien, attachment or other encumbrance by any person to be placed on file or to remain on file in any public office or on file with the UNDP against any monies due or to become due for any work done or materials furnished under this Contract, or by reason of any other claim or demand against the Contractor.

  • LIENS, CLAIMS AND ENCUMBRANCES The Contractor warrants and represents that all materials, equipment or services delivered herein are free and clear of all liens, claims, or encumbrances of any kind.

  • Personal Property Loss An employee's personal property loss or damage by the action of a client shall be replaced or repaired at the expense of the Employer to a maximum of seven hundred and fifty ($750.00) dollars, subject to integration with one hundred (100%) per cent coverage by Workers' Compensation Board, provided that reasonable proof of the cause of such damage is submitted by the employee concerned within reasonable time of such loss or damage.

  • Encumbrances Create, incur, assume or suffer to exist any Lien with respect to any of its property, or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Permitted Liens.

  • Real Property; Personal Property (a) On the Disaffiliation Date, Local Church will have full title and ownership of the Real Property and Personal Property. The parties shall ensure all necessary transfers or other transactions relating to the above properties are completed on or prior to the Disaffiliation Date. Any costs resulting from such transfers or other transactions shall be borne by Local Church. Annual Conference shall fully cooperate with Local Church, as needed and applicable, to ensure that such transfers and other transactions convey all of Annual Conference’s interest – both for itself and on behalf of The United Methodist Church – in the Real Property and Personal Property, both tangible and intangible, of Local Church.

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