Title and Title Insurance. On such Closing Date, the Lessor shall receive from a title insurance company reasonably acceptable to the Lessor and the Agent an ALTA Owner's Policy of Title Insurance issued by such title insurance company and the Agent shall receive from such title insurance company an ALTA Mortgagee's Policy of Title Insurance issued by such title insurance company, in each case, in the amount of the projected cost of acquisition and construction of such Leased Property, reasonably acceptable in form and substance to the Lessor and the Agent, respectively (collectively, the "Title Policy"). The Title Policy shall be dated as of such Closing Date, and, to the extent permitted under Applicable Law, shall include such affirmative endorsements as the Lessor or the Agent shall reasonably request.
Title and Title Insurance. Lessor and the Administrative Agent shall have received from the Title Insurance Company (i) an ALTA 2006 owner’s policy of title insurance (or an irrevocable commitment for the issuance thereof) with respect to the Leased Property (the “Owner’s Ground Lease Policy”), reasonably acceptable in form and substance to Lessor, insuring that Lessor has a good and marketable leasehold interest in the Leased Property pursuant to the Ground Lease, subject in each case to such exceptions to title as are acceptable to Lessor, in an amount equal to the Aggregate Commitment Amount together with complete, legible copies of all documents referenced as exceptions therein, (ii) an ALTA 2006 owner’s policy of title insurance (or an irrevocable commitment for the issuance thereof) with respect to the Leased Property (the “Owner’s Authority Lease Policy”), reasonably acceptable in form and substance to Lessor, insuring that Lessor has a good and marketable leasehold interest in the Leased Property pursuant to the Authority Lease, subject in each case to such exceptions to title as are acceptable to Lessor, in an amount equal to the Aggregate Commitment Amount together with complete, legible copies of all documents referenced as exceptions therein, (iii) an ALTA 2006 lender’s policy of title insurance (or an irrevocable commitment for the issuance thereof) with respect to the Site (the “Lenders’ Policy), reasonably acceptable in form and substance to the Participants, insuring the Lien created by the Lease as a valid first priority Lien against the Leased Property, subject in each case to such exceptions to title as are acceptable to the Participants, in an amount equal to the Aggregate Commitment Amount together with complete, legible copies of all documents referenced as exceptions therein, and (iv) an ALTA 2006 lender’s policy of title insurance (or an irrevocable commitment for the issuance thereof) with respect to the Site (the “Administrative Agent’s Policy”; together with the Owner’s Ground Lease Policy, the Owner’s Ground Sublease Policy, the Owner’s Authority Lease Policy and the Lenders’ Policy, the “Title Policies”), reasonably acceptable in form and substance to the Participants, insuring the Lien created by the Assignment of Leases as a valid Lien against the Leased Property, subject in each case to such exceptions to title as are acceptable to the Participants, in an amount equal to the Aggregate Commitment Amount together with complete, legible copies of all doc...
Title and Title Insurance. On such Closing Date, the Lessor shall receive from a title insurance company acceptable to the Lessor and the Agent an ALTA Owner's Policy of Title Insurance issued by such title insurance company and the Agent shall receive from such title insurance company an ALTA Mortgagee's Policy of Title Insurance issued by such title insurance company, in each case, in the amount of the projected cost of acquisition and construction of such Leased Property, reasonably acceptable in form and substance to the Lessor and the Agent, respectively (collectively, the "Title Policy"). The Title Policy shall be dated as of the Closing Date, and, to the extent permitted under Applicable Law, shall include a pending disbursements clause reasonably satisfactory to the Lessor and the Agent and coverage over the creditors' rights exclusion and the general exceptions to such policy, and shall contain such affirmative endorsements as to mechanic's liens, easements and rights-of-way, encroachments, the non-violation of covenants and restrictions, survey matters and other matters as the Lessor or the Agent shall reasonably request.
Title and Title Insurance. (a) The Company shall request the Title Insurer to deliver to Acquiror a current Commitment for Title Insurance or a Preliminary Title Report, together with legible copies of all documents referred to therein (collectively, the “Title Report”) from the Title Insurer. The Title Report shall show the status of title to the Real Property as of the date of the Title Report and shall list the Company as the proposed insured.
Title and Title Insurance. Certificate Trustee shall have received from the Title Insurance Company an ALTA 1970 owner's policy of title insurance (or an irrevocable commitment for the issuance thereof), acceptable in form and substance to each Participant (the "OWNER'S POLICY"), insuring that Certificate Trustee has good and marketable title to the Leased Property, subject to the Lease and such other exceptions to title as are acceptable to each Participant. Agent, for the benefit of the Participants, shall have received from the Title Insurance Company (or an irrevocable commitment for the issuance thereof), an ALTA 1970 form of loan policy of title insurance (the "LENDER'S POLICY"; together with the Owner's Policy, the "TITLE POLICIES"), acceptable in form and substance to the Participants, insuring the creation under the Deed of Trust in favor of Agent of valid first priority Liens against the Mortgaged Property, subject to such exceptions to title as are acceptable to the Participants. Each Title Policy shall be in an amount equal to the aggregate Commitments, together with complete, legible copies of all encumbrances, maps, surveys, and plats of record. The Title Policies shall be dated as of the Advance Date and, to the extent permitted under Applicable Laws, shall (w) contain affirmative endorsements as to mechanics' liens, doing business, usury, Form 3.0 zoning, easements and rights-of-way, Form B-1 comprehensive coverage, encroachments, the nonviolation of covenants and restrictions, rights of access and survey matters, (x) delete the creditors' rights and survey exclusions, (y) contain endorsements regarding the effect of recharacterization, and (z) contain such other endorsements reasonably requested by the Required Participants.
Title and Title Insurance. All matters of title and title insurance on any real estate to be purchased must be satisfactory to Bank, including terms and conditions of the policy, and the issuing company of the Lender’s Title Insurance policy. Title must be clear, unencumbered with a first lien position for Bank, subject only to exceptions acceptable to Bank.
Title and Title Insurance. At Borrower’s expense, the mortgage or deed of trust relating to each Site shall have been recorded and the title company selected by Lender to close the Loan shall be unconditionally committed to issue to Lender an ALTA lender’s title insurance policy with respect to each such Site in such form and amounts and with such endorsements as Lender may require, insuring that each mortgage or deed of trust is in first lien position subject only to exceptions permitted by Lender.
Title and Title Insurance. (a) Concurrently with the execution of this Option Agreement and a recording of a memorandum thereof, Site Owner and Xxxxxxx, at their sole cost and expense, shall be required to obtain and provide to PSNH a policy of title insurance issued by a nationally recognized title insurance company, in form and content acceptable to PSNH insuring PSNH’s interest in and under this Option Agreement as of the Effective Date, free of all secured lending arrangements, mortgages, leaseholds and other liens and encumbrances upon the Facility and Facility Site as of the Effective Date, and subject only to those existing easements, covenants and restrictions of record as PSNH shall determine after suitable review and in its sole discretion are acceptable as necessary or appropriate to operate or maintain the Facility on the Facility Site, will not materially interfere with or restrict such operation or maintenance, or are otherwise acceptable (the “Permitted Encumbrances”). The amount of such title insurance shall be Forty Seven Million Dollars ($47,000,000), and shall include an endorsement to coverage affirmatively insuring the Option Agreement and PSNH’s interest thereunder against unenforceability or other loss due to or resulting from violation of the New Hampshire Rule Against Perpetuities. A Commitment of Title Insurance shall be provided to PSNH prior to execution of this Option Agreement and the recording of a memorandum thereof, to allow for PSNH’s suitable review to determine compliance with this provision.
Title and Title Insurance. Purchaser's approval of the condition of title to the Property. Seller shall cause to be delivered to Purchaser, within three (3) days after the date of this Agreement, a preliminary title commitment for an owner's ALTA coverage policy of title insurance for the Property, issued by First American Title Company (“Title Company”), together with legible copies of all exceptions listed in such title commitment (the date of delivery of such title report and copies of the exceptions is hereinafter referred to as the “Title Delivery Date”). Purchaser shall have a period of ten (10) days following the Title Delivery Date in which to notify Seller in writing of Purchaser's disapproval of any exceptions shown in the Title Report, other than any mortgages, trust deeds, judgment liens or construction liens to be satisfied by Seller by payment on or before the Closing Date; provided, any failure by Purchaser to give such notice shall be deemed to be a rejection of title and this Agreement shall terminate and the Deposit shall be returned to Purchaser. In the event Purchaser notifies Seller within such period that Purchaser disapproves one or more exceptions to title, Seller shall notify Purchaser in writing within five (5) days thereafter as to whether Seller agrees to remove the exceptions so disapproved. If Seller elects not to eliminate any disapproved exception, Purchaser may elect to cancel this Agreement, in which event the Deposit, if any, shall be returned to Purchaser and this Agreement shall terminate; provided, if Seller elects not to eliminate any disapproved exception Purchaser shall be deemed to have elected to cancel this Agreement unless, prior to expiration of the Review Period, Purchaser has notified Seller in writing of Purchaser’s election not to cancel this Agreement regardless of such disapproved exceptions. If Purchaser does not elect to cancel this Agreement, Purchaser's objections to the disapproved exceptions which Seller elects not to eliminate shall be deemed waived and the Property shall be conveyed to the Purchaser with such defects and without credit against the purchase price. Notwithstanding the foregoing to the contrary, Seller agrees that it shall cause any and all mortgages, trust deeds, judgment liens or construction liens against the Property to be released of record on or before Closing. Seller discloses to Purchaser that a small strip of land of the Property has been used by an adjoining property owner for a period of years (the ...
Title and Title Insurance. At the Closing, Purchaser shall receive from a title insurance company reasonably acceptable to Purchaser (the "TITLE INSURANCE COMPANY"), its American Land Title Association (ALTA) 1970 form of owner's policy of title insurance or, if unavailable, such other similar form of owner's policy acceptable to Purchaser (the "TITLE POLICY") (or a redated and signed commitment or specimen policy therefor, with the actual policy to be delivered after the Closing Date), for the Property, reasonably acceptable in form and substance to Purchaser, insuring that Purchaser has good fee simple title to the Property, subject only to the Lease, Permitted Encumbrances and such other exceptions to title as are reasonably acceptable to Purchaser, in the amount of the Purchase Price. The Title Policy shall contain such affirmative endorsements as are listed on Exhibit G and as are available.
