Title Commitment and Title Policy. (a) Seller has no obligation to provide Purchaser with a commitment for title insurance covering the Property. Prior to the auction event at which the Property is being sold, an attempt was made to include such a commitment in the electronic information made available to all prospective bidders on the Internet. At Closing, Seller will cause an owner’s policy of title insurance covering the Property in the full amount of the Purchase Price (the “Title Policy”) to be issued to Purchaser by a title insurance company selected by Seller in its sole discretion (the "Title Company").
Title Commitment and Title Policy. Within five (5) business days after the Effective Date, Seller shall, at Seller’s expense, deliver or cause to be delivered to Buyer: (i) a title commitment showing the status of record title to the Property and naming Buyer as the proposed insured, in the amount of the Purchase Price (the “Original Title Commitment”); (ii) true, correct, and legible copies of any and all instruments referred to in Schedule B of the Original Title Commitment (collectively, the “Title Instruments”); and (iii) a copy of the most recent survey of the Property or of a larger tract of land that contains the Property (the “Existing Survey”) (the Original Title Commitment, Title Instruments and Existing Survey, collectively, the “Title Documents”). Not later than five (5) days prior to the applicable Closing, Seller shall cause the Original Title Commitment to be updated for the portion of the Property being purchased (the “Closing Commitment”) and delivered to Buyer. Seller shall cause the Title Company to irrevocably commit to issue to Buyer at the applicable Closing an owner’s title insurance policy on the standard Texas form substantially in the form of the Closing Commitment but with all pre-printed, standard exceptions deleted that can be deleted under Texas title insurance regulations (including, without limitation, any parties in possession or tenants in possession exceptions), other than the exception for real property taxes for the year of Closing, a lien not yet due or payable, and subject only to the Permitted Exceptions (as defined below), insuring Buyer’s title to the applicable portion of the Property in the amount of the Purchase Price (the “Owner’s Title Policy”). Seller shall pay the base premium for the Owner’s Title Policy, and Buyer shall pay the costs for any Buyer-requested endorsements, or request to modify the area and boundary exception listed as item 2 of Schedule B of the Title Commitment to read ‘shortages in area’.
Title Commitment and Title Policy. Purchaser shall order an owner’s title insurance commitment (the “Title Commitment”) with respect to the Property issued by the Title Company, for an ALTA Owner’s Extended Coverage Title Insurance Policy, together with any endorsement, that Purchaser may require (the “Title Policy”). Purchaser shall cause a copy of the Title Commitment to be delivered to Seller. All costs related to the Title Policy, escrow fees and other closing costs shall be included in Transaction Costs, payable as set forth in Section 1.05.
Title Commitment and Title Policy. Within three (3) Business Days of the Effective Date, Purchaser shall order an owner’s title insurance commitment (the “Title Commitment”) with respect to the Property issued by the Title Company, for such ALTA Owner’s Extended Coverage Title Insurance Policy, together with any endorsements, that Purchaser may require (the “Title Policy”). Purchaser shall cause copies of the Title Commitment to be delivered to Seller. All costs related to the Title Policy, escrow fees and other closing costs are included as Transaction Costs, payable by Seller.
Title Commitment and Title Policy. Seller has delivered an owner’s title insurance commitment (each, a “Title Commitment”) with respect to each of the Properties issued by the Title Company (together with any endorsements that Purchaser may require and Title Company is authorized to issue, each a “Title Policy”). Seller and Purchaser shall split equally the costs of all title examination charges and commitment fees, any and all insurance premiums and other costs related to the Title Policies.
Title Commitment and Title Policy. Purchaser shall order an owner’s title insurance commitment (the “Title Commitment”) with respect to the Property issued by the Title Company, for an ALTA Owner’s Extended Coverage Title Insurance Policy, together with any endorsements that Purchaser may reasonably require (collectively, the “Title Policy”). Purchaser shall cause copies of the Title Commitment, all exception documents, and the Survey to be delivered to Seller no later than the date upon which Purchaser delivers its Title Objection for the Property, which shall be no later than the expiration of the Inspection Period. All costs related to the Title Policy, escrow fees and other closing costs shall be included in Transaction Costs, payable as set forth in Section 1.05.
Title Commitment and Title Policy. Seller, at Seller’s expense, shall obtain and deliver to Purchaser an owner’s title insurance commitment (collectively, the “Title Commitment”) with respect to the Property issued by the Title Company, for ALTA Owner’s Extended Coverage Title Insurance Policies (the “Title Policy”) within twenty (20) days from the Effective Date. The Title Commitment shall include an appropriate UCC search (the “UCC Search”). All costs related to the Title Policy, escrow fees and other closing costs shall be payable as set forth in Section 1.05.
Title Commitment and Title Policy. 10.1.1 On or before the thirtieth (30th) day after the Effective Date of this Agreement, Seller shall cause the Title Agent to deliver to Buyer the Title Company’s pro-forma commitment (the “Title Commitment”) to issue to Buyer (or Buyer’s designee), upon (a) the recording of the Deed(s) conveying title to the Property containing the Buildings (and the Units contained therein) and the Recreation Facilities (as to those certain portions of the Recreation Facilities which constitute Units) from Seller to Buyer, (b) the payment of the Purchase Price for each respective timeshare residential Unit that is part of the scheduled Closing, and (c) the payment to the Title Company of the policy premium therefor, an ALTA owner’s policy of title insurance, insuring good and marketable fee simple record title to the portion of the Property containing each Building (and each Unit contained therein) that is part of a scheduled Closing and on the Recreation Facilities (as to those certain portions of the Recreation Facilities which constitute Units) for the final Closing with all endorsements required by Buyer (provided that obtaining such endorsements shall not be a condition to Buyer’s obligation to close hereunder), in the amount of the Purchase Price for the timeshare residential Units in the Building that is part of the scheduled Closing and subject only to the Permitted Exceptions (the “Title Policy”). An actual Title Commitment shall be issued thirty
Title Commitment and Title Policy. Lessor shall order an owner’s title insurance commitment (the “Title Commitment”) with respect to the Property issued by the Title Company, for an ALTA Owner’s Extended Coverage Title Insurance Policy, together with any endorsements that Lessor may reasonably require (collectively, the “Title Policy”). Lessor shall cause copies of the Title Commitment, all exception documents, and the Survey to be delivered to Lessee no later than the date upon which Lessor delivers its Title Objection for the Property, which shall be no later than the expiration of the Inspection Period. All costs related to the Title Policy, escrow fees and other closing costs shall be included in Transaction Costs, payable as set forth in Section 1.05.
Title Commitment and Title Policy. (a) The Title Commitment shall be the basis for “Title Policy”. The Title Commitment and the Title Policy are sometimes referred to as the “Title Documents”.
