TITLE AND EXAMINATION Sample Clauses

TITLE AND EXAMINATION. As quickly as reasonably possible after Final Acceptance Date of this Purchase Agreement: DRAFT: Non-Executable
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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. SELLER WARRANTS:
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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 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. Xxxxx, at Xxxxx'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. SELLER WARRANTS:
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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.
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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.
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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 executionEffective Date or such other time period as agreed to by Xxxxx, in writing. Seller shall pay the entire cost of obtainingan 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 obje...
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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.
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Related to TITLE AND EXAMINATION

  • 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.

  • Title and Survey (a) The Seller shall order and cause to be delivered to each of the Buyer and the Seller a commitment for the Title Policy from the Title Company, together with all underlying title exception documents. The Buyer shall, at its expense, order and cause to be delivered to each of the Buyer and the Seller, an ALTA survey of the Property. After receipt of the survey and the title commitment, the Buyer shall notify the Seller of any defects in title or survey shown by such commitment and/or ALTA survey that the Buyer is unwilling to accept. Within 5 days after such notification, the Seller shall notify the Buyer whether the Seller is willing to cure such defects; the Seller’s failure to so notify the Buyer shall be deemed to be the Seller’s refusal to cure all such defects (except for any defects consisting of those items in the last sentence of this SECTION 3.2 below expressly required to be cured by the Seller). The Seller may cure any defect by causing the Title Company, at the Seller’s sole cost and expense, to omit such defect as an exception to the Title Policy or to “insure over” such defect to the Buyer’s reasonable satisfaction. If the Seller is willing to cure such defects, the Seller shall act promptly, diligently and use commercially reasonable efforts to cure such defects at its expense. Subject to those items below expressly required to be cured by the Seller, if the Seller is unwilling or unable to cure any other such defects by Closing (or fails to notify Buyer and therefore has elected not to cure such defects), then the Buyer shall elect, within 5 days after written notice thereof from the Seller to the Buyer (or within 5 days after the Seller’s time for giving notice has expired without any notice from the Seller), by giving the Seller written notice that the Buyer either (i) waives such defects and shall proceed to Closing without any abatement in the Purchase Price with respect thereto, or (ii) terminates this Agreement and shall be entitled to receive a full and immediate refund of the Xxxxxxx Money and, upon return of the Xxxxxxx Money, this Agreement shall terminate and the Buyer and the Seller shall have no further rights, liabilities or obligations hereunder (except as expressly survive the termination of this Agreement). In the event that the Buyer does not make such election within the applicable time frame, the Buyer shall be deemed to have elected to waive any such defects pursuant to clause (i) above. Subject to those items below expressly required to be cured by the Seller, all title matters not objected to by the Buyer during the Study Period (or objected to but which the Seller declines, or is deemed to decline, to cure as provided above without the Buyer thereafter electing to terminate this Agreement) shall be deemed “Permitted Title Exceptions.” Notwithstanding the foregoing, if any such defects of title consist of mortgages or deeds of trust, any other monetary liens and/or tax liens (other than liens for taxes not yet due and payable), the Buyer shall be deemed to have notified the Seller that the Buyer is unwilling to accept such defects and the Seller covenants and agrees that at or prior to Closing the Seller shall cure by payment, bonding, or escrow deposit acceptable to the Title Company (and the Escrow Agent is authorized to pay and discharge at Closing from the Seller’s proceeds, if not so cured) and cause to be cancelled and discharged such monetary title defects.

  • 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.

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