TITLE AND EXAMINATION Sample Clauses

TITLE AND EXAMINATION. As quickly as reasonably possible after Final Acceptance Date of this Purchase Agreement: A. Seller shall provide, at Seller’s option, the abstract of title to be updated at the Seller’s expense, or a commitment for an Owner’s Title Insurance Policy for the Property to Buyer or Buyer’s designated title service provider. B. Buyer shall obtain, at the Buyer’s expense, the title services determined necessary or desirable by Buyer or Xxxxx’s lender, including, but not limited to, title searches, title examinations, a title insurance commitment, unless provided by Seller in lieu of an updated abstract of title, title insurance premium or an attorney’s title opinion.
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TITLE AND EXAMINATION. Seller, at Seller’s expense, shall furnish an abstract of title, or a registered property abstract, certified to date. If, after examination, Seller’s title is not insurable or free of defects and cannot be made so within sixty (60) days after notice containing a written statement of defects is delivered to Seller, then said xxxxxxx money shall be refunded to Buyer, and Buyer and Seller agree to sign a Cancellation of Purchase Agreement. However, Buyer may waive defects and elect to purchase. Buyer, at Buyer’s option, agrees to accept an Owner’s Title Policy in the full amount of the purchase price in lieu of an abstract of title if the property is subject to a master abstract or if no abstract of title is in Seller’s possession or control. If Buyer is to receive such policy, Seller shall pay the entire premium for such policy if no lender’s policy is obtained, and only the additional cost of obtaining a simultaneously issued owner’s policy if a lender’s policy is obtained. Buyer shall pay the premium for the lender’s policy.
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TITLE AND EXAMINATION. Seller shall promptly arrange for and shall promptly provide Buyer with a title commitment to the Property issued by the Title Company. Seller shall use commercially reasonable efforts to deliver such title commitment to Buyer no later than 30 days after the Effective Date or such other time period as agreed to by Xxxxx, in writing. Seller shall pay the entire cost of an underlying abstract update, if required by the Title Company, and the entire cost of a title commitment and owner’s title policy. If Xxxxx’s lender requires a lender’s title insurance policy, Buyer shall be solely responsible for the incremental cost thereof. If Seller(s)’s title is not insurable, marketable and free of defect, other than the permitted encumbrances set forth in Section 5(a) or such exceptions to title Buyer waives pursuant to this Section 5(b), and cannot be made so by the Closing Date, or, if after examination of the title commitment, Buyer determines that easements, restrictions, encumbrances or any other defects of title interfere with the Buyer’s intended use of the property, Buyer, at Buyer’s option, shall be authorized to terminate this Purchase Agreement and all Xxxxxxx Money shall be refunded to Buyer. Buyer shall notify Seller of Buyer’s objection to the title within fourteen (14) days following the date Seller delivers a title commitment to Buyer. Buyer may waive defects and proceed to Closing, at Xxxxx’s sole discretion. If Xxxxx does not object to the title defects in a writing delivered to Seller within the time period described herein, Buyer shall be deemed to have waived its right to so object. Seller shall have until the Closing Date to eliminate any title objections identified in writing by the Buyer to the satisfaction of the Buyer in such a manner as to delete title defects from the final standard owner’s policy of title insurance, it being agreed that the Seller is not obligated or required to undertake any cure of any title objections identified by the Buyer; however, if Seller determines not to attempt to cure any title defects, Seller shall so advise Buyer within seven (7) days of the date Seller receives Xxxxx’s written notice of the title defects. If Seller shall in fact eliminate any and all title objections identified in writing by the Buyer, the Closing shall take place on the Closing Date, subject to the Buyer’s right to terminate as provided for in Section 9 of this Purchase Agreement. If Seller does not eliminate title objections identified b...
Sample 1
TITLE AND EXAMINATION. Seller shall, within twenty (20) days after Buyer’s written request stating it’s intended Closing Date, furnish a title commitment from Chicago Title Insurance Corp., certified to date to include proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending special assessments, in the full amount of the purchase price. Buyer shall be allowed 10 days after receipt of the title commitment for examination of title and making any objections, which shall be made in writing or deemed waived. If any objection is so made, Seller shall have twenty (20) days to notify Buyer of Seller’s intention to cure such objections within thirty (30) days from Seller’s receipt of such written objection. If notice is given, the Date of Closing shall be postponed pending correction of title, but upon correction of title and within 10 days after written notice to Buyer the parties shall perform this Purchase Agreement according to its terms. If no such notice is given or if notice is given but title is not corrected within the time provided for, this Purchase Agreement may be terminated by Buyer. In such event, neither party shall be liable for damages hereunder to the other, the Xxxxxxx Money shall be refunded to Buyer, and Buyer and Seller agree to sign a cancellation of Purchase Agreement.
Sample 1
TITLE AND EXAMINATION. Seller shall, within a reasonable time after acceptance of this agreement furnish an Abstract of Title or a Registered Property Abstract, certified to date to include proper searches covering bankruptcies, state and federal judgments and liens. Buyer shall be allowed fifteen (15) business days after receipt for examination of title and making any objections, which shall be made in writing or deemed waived. If any objection is so made, Sellers shall be allowed 120 days to make title marketable. Pending correction of title, payments hereunder required shall be postponed but upon correction of title and within fifteen (15) days after written notice to Buyer, the parties shall perform this agreement according to its terms. If title is not corrected within 120 days from the date of written objection, this agreement shall be null and void, at option of Buyer, neither party shall be liable for damages hereunder to the other, and xxxxxxx money shall be refunded to Buyers.
Sample 1
TITLE AND EXAMINATION. Seller, at Seller’s expense, shall furnish an abstract of title, or a registered property abstract, certified to date to include proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending special assessments. If, after examination, Seller’s title is not insurable or free of defects and cannot be made so within sixty (60) days after notice containing a written statement of defects is delivered to Seller, then said xxxxxxx money shall be refunded to Buyer, and Buyer and Seller agree to sign a Cancellation of Purchase Agreement. However, Buyer may waive defects and elect to purchase. Buyer, at Buyer’s option, agrees to accept an Owner’s Title Policy in the full amount of the purchase price in lieu of an abstract of title if the property is subject to a master abstract or if no abstract of title is in Seller’s possession or control. If Buyer is to receive such policy, Seller shall pay the entire premium for such policy if no lender’s policy is obtained, and only the additional cost of obtaining a simultaneously issued owner’s policy if a lender’s policy is obtained. Buyer shall pay the premium for the lender’s policy.
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TITLE AND EXAMINATION. Within five (5) days from the Effective Date, Donor will order a title commitment for a: (a) title insurance policy (the “Title Commitment”), or (b) a title report or opinion of title (the “Title Opinion”) and provide a copy to Donee upon request or on the Closing Date. Donor will provide marketable title to the Property, which shall be acceptable to Donee in its absolute discretion and as a condition and contingency to Donee’s obligation to accept the Property under this Agreement.
Sample 1
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Related to TITLE AND EXAMINATION

  • Field Examination The Administrative Agent or its designee shall have conducted a field examination of the Loan Parties’ Accounts, Inventory and related working capital matters and of the Borrower’s related data processing and other systems, the results of which shall be satisfactory to the Administrative Agent in its sole discretion.

  • Field Examinations On no more than one occasion per every consecutive 24 month period following the most recent field examination date, the Loan Parties will permit, upon reasonable notice, the Administrative Agent to conduct a field examination to ensure the adequacy of Collateral included in any Borrowing Base and related reporting and control systems (with the time of such engagement determined at the discretion of the Administrative Agent, or as requested by the Required Lenders); provided that (I) the Company shall be permitted to instruct the Administrative Agent to conduct a field examination if as of any date the most recently completed field examination (or the most recently completed update thereof, if applicable) is more than one year old and (II) the Administrative Agent may conduct a field examination at the discretion of the Administrative Agent, or shall conduct a field examination at the request of the Required Lenders if (a) the date of the most recently completed field examination (or the most recently completed update thereof, if applicable) is more than one year old and (b) either (i) Loans have been outstanding within the three months preceding such date or (ii) LC Exposure within the three months preceding such date has been greater than $200,000,000 at any time. Notwithstanding the foregoing, in addition to the field examinations permitted above (A) during any calendar year when Aggregate Availability is at any time less than the greater of (x) an amount equal to 20% of the Loan Cap Minimum then in effect and (y) an amount equal to 20% of the Loan Cap then in effect, one additional field examination shall be permitted at the discretion of the Administrative Agent or the Required Lenders per calendar year and (B) if an Event of Default has occurred and is continuing, there shall be no limitation on the number or frequency of field examinations. For purposes of this Section 5.12, it is understood and agreed that a single field examination may be conducted at multiple relevant sites and involve one or more relevant Loan Parties and their assets. All of the foregoing field examinations shall be at the sole expense of the Loan Parties. Notwithstanding the foregoing, the Lenders shall be permitted to conduct one additional field examination per calendar year at their own cost and expense.

  • Title and Ownership Contractor warrants and represents that it has (i) full ownership, clear title free of all liens, or (ii) the right to transfer or deliver specified license rights to any Products

  • Title Examination Within thirty (30) days after Purchaser’s exercise of the Option, Purchaser shall have the right to obtain, at Purchaser’s expense, a current survey of the Property (the “Updated Survey”) and an ALTA Title Commitment for the Property from a title company acceptable to Purchaser (the “Title Company”), setting forth the status of title to the Property, and showing all liens, claims, encumbrances, reservations, restrictions and other matters, if any, relating to the Property (the “Title Commitment”), including legible copies of all encumbrances, restrictive covenants and other documents evidencing exceptions to said Title Commitment (the “Exception Documents”). If the Title Commitment and/or Updated Survey reveals any exception(s) to title to which Purchaser objects (a “Title Objection”) and is(are) not either (i) listed as title exceptions in the title insurance policy and/or survey obtained by Seller in connection with the closing of the Mezzanine Loan and/or (ii) permitted by this Agreement (collectively, the “Permitted Encumbrances”), Purchaser may notify Seller in writing that it would like Seller to cure or remove such Title Objections. Seller shall have the right, but not the obligation (except as set forth below), to remedy or cure any such Title Objection(s) during the twenty (20) day period following Seller’s receipt thereof (the “Cure Period”). Purchaser shall have the continuing right to have such title examination and Title Commitments updated from time to time, and to obtain updates to the Survey, and to give Seller written notice of any Title Objections appearing of record, or otherwise created, after the effective date of the initial Title Commitment and being revealed by any title examination, Survey or investigation of the Property, and Purchaser shall be entitled to object (in the same manner as set forth hereinabove) to matters shown by the updated Title Commitments or updated Survey or investigations. Seller shall have the right, but not the obligation (except as set forth below), to remedy those Title Objections identified by Purchaser to the satisfaction of Purchaser within twenty (20) days after Purchaser’s notice. If any of the Title Objections are not so cured or remedied, or provision satisfactory to Purchaser made therefor, prior to any closing date selected by Purchaser, then Purchaser, at its election, shall have the right and option to either: (a) accept title to the Property subject to said uncured Title Objections that Purchaser elects to accept, and any Title Objection accepted by Purchaser in writing shall become part of the Permitted Encumbrances; or (b) terminate this Agreement by written notice to Seller, in which event, immediately upon receipt of said notice, this Agreement shall terminate, be null and void and of no further force or effect. Notwithstanding the foregoing, Seller, at Seller’s sole cost and expense, shall be obligated to cure or remove at or before Closing all mortgages, deeds of trust, deeds to secure debt, judgments liens, mechanics and materialman’s liens, and other monetary liens against the Property, whether or not Purchaser objects thereto, and Purchaser shall credit the cost to cure, satisfy, release and remove such matters against the Purchase Price provided the same is actually paid by Purchaser or Title Company on Seller’s behalf. In addition, Seller shall not allow any easements, liens, leases, licenses, permits or other encumbrances to be placed on or granted with respect to the Property, nor shall Seller convey any rights in the Property, without the prior written consent of Purchaser, except to the extent expressly permitted, or consented to in writing by Purchaser under the Mezzanine Loan Documents. If any such prohibited easements, liens, leases, licenses, permits or other encumbrances arise after the Effective Date, notwithstanding any other term or provision of this Agreement to the contrary, Seller shall, at its sole cost and expense, cure, satisfy, release and remove such matters prior to Closing; provided, however, that any easements or encumbrances that are taken by eminent domain shall be governed by the terms of Section 5 immediately below.

  • AUDITS AND EXAMINATIONS 8.1. Each Party to this Agreement will be responsible for the accuracy and quality of its data as submitted to the other Party involved. Subject to each Party’s reasonable security requirements and except as may be otherwise specifically provided in this Agreement, either Party, at its own expense, may audit the other Party’s books, records and other documents directly related to billing and invoicing once in any twelve (12) month period for the purpose of evaluating the accuracy of the other Party’s billing and invoicing. "Audit" shall mean a comprehensive review of bills for services performed under this Agreement; "Examination" shall mean an inquiry into a specific element of or process related to bills for services performed under this Agreement. Either party (the “Requesting Party”) may perform one (1) Audit per twelve (12) month period commencing with the Effective Date, with the assistance of the other Party, which will not be unreasonably withheld. The Audit period will include no more than the preceding twelve (12) month period as of the date of the Audit request. The Requesting Party may perform Examinations, as it deems necessary, with the assistance of the other Party, which will not be unreasonably withheld.

  • Physical Examinations Where the Employer requires an employee to take a physical examination, doctor's fees for such examination shall be paid by the Employer. Except prior to commencement of employment and the first four (4) weeks of employment, such examinations shall be taken during the employee's working hours without loss of pay to the employee.

  • Title and Survey Seller shall, at Seller's sole cost and expense, obtain and deliver to Purchaser for Purchaser's review a commitment for a standard owner's policy of title insurance along with a copy of each instrument listed as an exception thereon other than Seller's debt instruments (the "Title Commitment") on the Real Property issued by the Title Company. Seller has delivered to Purchaser a copy of the Existing Survey which Purchaser shall reimburse Seller for as provided in Section 4 hereof. During the Due Diligence Period, Seller shall obtain from the Title Company at Seller's sole cost and expense a survey endorsement and, if and to the extent available, contiguity, fairway and PUD endorsements. Purchaser may elect to receive an update to the Existing Survey (the "Updated Survey") by notifying Seller of such election in writing prior to November 6, 1997. If Purchaser so elects, Seller shall, at Purchaser's sole cost and expense, obtain and deliver to Purchaser for Purchaser's review the Updated Survey. Purchaser shall have until the later of November 6, 1997 and the date which is fifteen days after receipt of the Title Commitment and Existing Survey (such date being referred to as the "Title Review Date") for examination of Title Commitment and Existing Survey and the making of any objections thereto, said objections to be made in writing and delivered to Seller on or before the end of the Title Review Date. If Purchaser shall fail to make any objections on or before the Title Review Date, Purchaser shall be deemed to have accepted all exceptions to the Title Commitment shown on Schedule B, Section II, except for exceptions 1, 2, 3 and 4, and the form and substance of the Existing Survey and all matters shown thereon; all such exceptions and matters shall be included in the term "Permitted Exceptions" as used herein. In the event Purchaser elects to receive the Updated Survey, then Purchaser shall have until the Title Review Date for examination of the Updated Survey and the making of objections to matters shown thereon, such objections to be made in writing and delivered to Seller on or before the expiration of the Title Review Date. If Purchaser shall fail to make any such objections to the Updated Survey on or before such date, Purchaser shall be deemed to have accepted the form and substance of the Updated Survey and all matters shown thereon; all such exceptions and matters shall be included as Permitted Exceptions. If any objections to (i) the Title Commitment or Existing Survey or exceptions to title are made within the Title Review Period, or (ii) the Updated Survey are made before the date specified above, then Seller shall have the right, but not the obligation except as hereafter provided, to cure (by removal, endorsement or otherwise) such objections on or before the Closing Date in a manner reasonably acceptable to Purchaser. If the objections are not cured by Seller no later than five (5) days before the scheduled Closing Date, then Purchaser may as its only option, elect to either: (i) waive such objection and consummate the transaction contemplated by this Agreement; or (ii) terminate this Agreement, in which event the Xxxxxxx Money shall be returned to Purchaser and neither party shall have any further obligations to the other party except for the Surviving Obligations. Notwithstanding anything to the contrary contained in this Agreement, Seller shall be obligated to remove (or cause the Title Company to affirmatively insure over in a manner reasonably acceptable to Purchaser) (i) any deeds of trust, mortgages, and related loan documents securing any financing obtained by Seller, including, without limitation, the existing loan with Continental Bank, N.A. (the "Existing Loan"), (ii) any mechanic's or materialmen's liens relating to work done by or on behalf of Seller and (iii) any tax or judgment liens against Seller. Seller agrees to use best efforts to satisfy all of the requirements set forth in Schedule B - Section 1 of the Commitment at or prior to the Closing Date.

  • Physical Examination The Employer, at its own expense, shall have the right and be given the opportunity to have a medical doctor appointed by the Employer examine, as often as it may reasonably require, any employee whose injury, sickness, mental or nervous disorder is the basis of claim upon this Plan.

  • Title and Survey Matters 4.1 As soon as practicable after the Closing Date, Seller shall deliver to Purchaser a standard owner's policy of title insurance issued by the Title Insurer/Escrow Agent ("TITLE POLICY"). The Title Policy shall insure marketable title to the Property in the amount of the Purchase Price, free and clear of all liens, encumbrances and exceptions whatsoever, save and except only for those easements, restrictions and other matters of record affecting title to the Property which are Permitted Exceptions (as hereinafter defined). 4.2 Purchaser shall have until the end of the Due Diligence Period (as hereinafter defined) in which to review the title commitment and as-built survey to be delivered by Seller pursuant to Section 5.1, and to obtain any modifications, endorsements or other revisions to either the title commitment or the survey required by Purchaser, at Purchaser's cost. If Purchaser is unable to obtain any modification, endorsement or other revision to the title commitment or survey required by Purchaser, or if any items remain on the title commitment or survey which are not acceptable to Purchaser ("UNPERMITTED EXCEPTIONS"), then on or before the end of the Due Diligence Period, Purchaser shall so notify Seller (an "OBJECTION NOTICE"). Seller has a period of ten (10) days after the date of the Objection Notice in which Seller, using good faith efforts, shall attempt to remove such Unpermitted Matters or remedy same in a manner satisfactory to Purchaser in its sole and absolute discretion, or have the Title Insurer/Escrow Agent commit to insure against loss or damage that may be occasioned by such exceptions (in endorsements satisfactory to Purchaser). If Seller does not cure any Unpermitted Exceptions to Purchaser's satisfaction within such period, then Purchaser may either (a) terminate this Agreement by giving written notice to Seller of such termination not later than five (5) days following the end of the ten (10) day cure period, in which event the Xxxxxxx Money, and all interest earned thereon, shall be returned to Purchaser and neither party shall have any further obligations or liabilities hereunder or (b) accept such Unpermitted Exceptions. Any item not specified in the Objection Notice or subsequently accepted by Purchaser shall be a "PERMITTED EXCEPTION". Seller shall be obligated to remove prior to Closing all mortgages and other liens or encumbrances of a definite or ascertainable monetary amount, and if Seller fails to do so, Purchaser may elect to terminate this Agreement. At the Closing, and as a further condition of Purchaser's performance of its obligations hereunder, Seller shall cause the Title Insurer/Escrow Agent to deliver to Purchaser the Title Policy or a marked-up and signed commitment to deliver same.

  • Eye Examinations All represented employees, who are health service system members, shall be eligible for one (1) annual VDT examination and prescribed eyewear.

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