Title Continuation. DOE shall have received a construction bringdown endorsement insuring that the Mortgage Indenture remains a first priority Lien on the Borrower’s fee title (subject only to Permitted Liens and the December 2013 Mechanic’s Lien Exception), under the relevant laws of the State of Georgia, and on the Borrower’s Undivided Interest in and to the Project Site (subject only to Permitted Liens and the December 2013 Mechanic’s Lien Exception) as is necessary for the development of the Project. Such endorsement shall be delivered to DOE on a date (i) not earlier than eight (8) Business Days and not later than six (6) Business Days prior to the relevant Advance Date in the case of an Advance in an amount less than $500,000,000; (ii) not earlier than ten (10) Business Days and not later than eight (8) Business Days prior to the relevant Advance Date in the case of an Advance in an amount equal to or greater than $500,000,000 and less than $2,000,000,000; and (iii) not earlier than fifteen (15) Business Days and not later than thirteen (13) Business Days prior to the relevant Advance Date in the case of an Advance in an amount equal to or greater than $2,000,000,000. Further, such endorsement shall amend the title insurance policy by extending the “Date of Policy” to a date that is not earlier than fifteen (15) Business Days prior to the delivery date to DOE.
Title Continuation. The Lender shall have received a title continuation report of the title policy to the date of the Initial Advance in a form approved by the Lender and the Lender's counsel containing a pending disbursements provision and setting forth no additional exceptions except those approved in writing by the Lender and its counsel.
Title Continuation. If requested by the Lender, at its sole but reasonable option, the Title Company shall issue a title continuation or endorsement showing that the Property is clear of Liens (other than the lien of the Deed of Trust and any other Liens therein expressly permitted) to the date of such Fairway Village I Loan Advance and that no financing statements affecting the Fairway Village Property, or any part thereof, other than in favor of the Lender, have been filed.
Title Continuation. Prior to each advance of a Loan, the Title Company shall have issued a written continuation of title showing no exceptions to title other than those exceptions previously approved by the Bank in writing;
Title Continuation. The Loan Servicer shall have received, in form and substance satisfactory to the Loan Servicer, a title continuation dated no earlier than one day prior to the Requested Advance Date showing no Liens against the Project, except for Permitted Liens and such other Liens as are satisfactory to DOE in its sole discretion.
Title Continuation. If any continuation, update or revision of the title commitments issued by the Title Insurer or the Surveys discloses any claim, lien or exception adversely affecting title to any Project other than the “Permitted Exceptions” and which Buyer is not willing to waive (a “Subsequent Defect”), Buyer shall give written notice thereof to Seller within five (5) business days after Buyer’s receipt of such continuation, update or revision. Buyer and Seller shall have the same rights regarding each Subsequent Defect as are provided in this paragraph with respect to matters set forth in a Title Objection Notice.
Title Continuation. DOE shall have received a construction bringdown endorsement (dated as of a date not earlier than five (5) Business Days prior to the relevant Advance Date) insuring that the Deed to Secure Debt remains a first priority Lien on the Borrower’s unencumbered fee title, under the relevant laws of the State of Georgia, to the Borrower’s Undivided Interest in and to the Project Site (subject only to Permitted Liens and the December 2013 Mechanic’s Lien Exception) as is necessary for the development of the Project.
Title Continuation. Administrative Agent shall have received a notice of title continuation or a Date Down Endorsement to the Title Policy indicating that since the last preceding Loan, there has been no change in the state of title and no new adverse survey exceptions have been raised by the Title Company not theretofore approved by Administrative Agent, which Date Down Endorsement shall have the effect of increasing the coverage of the Title Policy (including full coverage against mechanic’s liens) by an amount equal to the advance then made if the Title Policy does not by its own terms provide for such an increase. If any mechanics’ liens are filed against the Project, Borrower shall use commercially reasonable efforts to cause such liens to be discharged by payment or other shall mean; provided, however, that if such mechanics’ liens are less than $250,000 in the aggregate, Borrower may elect to cause the Title Company to provide affirmative coverage over such liens insuring against “any statutory lien for services, labor or materials furnished or contracted for prior to the date hereof [i.e., the date of such endorsement] (or any statutory lien for services, labor or materials furnished after the date hereof, the priority of which lien relates back to services, labor or materials furnished or contracted for prior to the date hereof), and which has now gained or which may hereafter gain priority over the estate or interest of the insured as shown in Exhibit A of this policy”; and provided further, however, that, Borrower shall obtain a bond reasonably acceptable to Administrative Agent to cover all mechanics’ liens that exceed $1,000,000 in the aggregate of all such liens;
Title Continuation. If any continuation, update or revision of the Title Commitments issued by the Title Insurer after the expiration of the Inspection Period discloses any new or previously undisclosed claim, lien or exception adversely affecting title to any Project and which Buyer is not willing to waive (a “Subsequent Defect”), Buyer may deliver a Termination Notice to Seller, in which event the Xxxxxxx Money shall be returned to Buyer by Escrow Agent and the parties shall have no further rights or obligations hereunder, except for those which expressly survive any such termination.
Title Continuation. DOE shall have received, in form and substance satisfactory to DOE, a title run-down and date-down endorsement (dated within two (2) Business Days of the applicable Advance Request) of the Borrower’s (or in respect of leased real property, the landlord’s) continued ownership of unencumbered fee title (subject only to Permitted Liens), under the relevant laws of Hawaii, of the Project Site as is necessary for the development of the Project.
