Common use of Title Defects and Cure Clause in Contracts

Title Defects and Cure. The Title Commitment, the Surveys, and the Zoning Report (in each case, to the extent obtained by Buyer pursuant to Sections 6.3(a), (b) and (c) above) are collectively referred to as “Title Evidence”. Buyer shall notify Seller within ten (10) days after its receipt of the last of the Title Evidence of any liens, claims, encroachments, exceptions, defects or violations disclosed in the Title Evidence which do not constitute Permitted Encumbrances (collectively, “Defects”). Seller, at its sole cost and expense, shall cure the objections on or before the Closing or Seller may elect to not cure the objections and shall give written notice to Buyer within ten (10) days of its receipt of Buyer’s objections of its decision whereupon Buyer may waive such objections and close or may terminate this Agreement, which election shall be made within ten (10) days of its receipt of Seller’s written notice. If Seller fails to timely give such notice, Seller shall be deemed to have elected not to cure the objections, whereupon Buyer may waive such objections and close or may terminate this Agreement, which election by Buyer shall be made within twenty (20) days following notice of objection to Seller. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party. Any matters shown by the Title Evidence to which Buyer does not object or which are waived by Buyer as herein provided shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller shall cause all mortgages, deeds of trust, financing statements and other similar liens encumbering the Seller Entities’ fee interest in the Owned Real Property and arising by, through or under the Seller Entities, or any of their Affiliates, to be released (other than liens for taxes not yet due and payable and any mechanic’s or materialmen’s liens relating to the Assumed Liabilities).

Title Defects and Cure. The Title Commitment, the Surveys, Commitment and the Zoning Report Surveys (in each case, to the extent obtained by Buyer Buyers pursuant to Sections Section 6.3(a), (b) and (cSection 6.3(b) above) are collectively referred to as “Title Evidence”. Buyer Buyers shall notify Seller give notice to Sellers within ten (10) business days after its Xxxxxx’ receipt of the last of the Title Evidence of any liens, claims, encroachments, exceptions, exceptions or defects or violations disclosed in the Title Evidence which do not constitute Permitted Encumbrances (collectively, “Defects”). SellerSellers, at its sole their cost and expense, shall cure the objections on Defects at or before the Closing or Seller Sellers may elect to not cure the objections Defects and shall give written notice to Buyer Buyers within ten (10) business days of its their receipt of Buyer’s objections Buyers’ notice of its the Defects of Sellers’ decision whereupon Buyer Buyers may waive such objections Defects and close or may terminate this Agreement, which election shall be made within ten (10) business days of its Buyers’ receipt of Seller’s Sellers’ written notice. If Seller fails Sellers fail to timely give such notice, Seller Sellers shall be deemed to have elected not to cure the objectionsDefects, whereupon Buyer Buyers may waive such objections Defects and close or may terminate this Agreement, which election by Buyer Buyers shall be made within twenty ten (2010) business days following the expiration of the period during which Sellers could have given notice of objection that Sellers elected not to Sellercure the Defects pursuant to the foregoing. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party, except for matters that expressly survive termination of this Agreement. Any matters shown by the Title Evidence to which Buyer does Buyers do not object or any Defects which are waived by Buyer Buyers as herein provided shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller Sellers shall cause all mortgages, deeds of trust, financing statements and other similar liens encumbering the Seller EntitiesSellers’ fee interest in the Owned Real Property or leasehold interest in the Hospital Leased Real Property, and arising by, through or under the Seller EntitiesSellers, or any of their Affiliates, to be released (other than liens for ad valorem and non-ad valorem property taxes not yet due and payable and any mechanic’s or materialmen’s liens relating solely to the Assumed Liabilities).

Title Defects and Cure. The Title Commitment, the Surveys, Commitment and the Zoning Report (in each case, to the extent obtained by Buyer pursuant to Sections 6.3(a), (b) and (c) above) Survey are collectively referred to herein as the “Title Evidence”. Buyer shall notify Seller within ten (10) days after its receipt of the last of .” If the Title Evidence of discloses any liens, claims, encroachments, exceptions, defects or violations disclosed in the Title Evidence other matters which do not constitute Permitted Encumbrances Encumbrances, Buyer may object to the same by giving written notice of such objections to Sellers within ten (collectively, 10) days after Buyer’s receipt of the last of the Title Evidence (any such objections being referred to herein as the “DefectsObjections”). Seller, at its sole cost and expense, shall Sellers may elect to either cure the objections Objections on or before the Closing or Seller may elect to not cure the objections and Objections, which election shall give be made by written notice to Buyer within ten (10) days of its after Sellers’ receipt of Buyer’s objections written notice of its decision whereupon Buyer may waive such objections and close or may terminate this Agreement, which election shall be made within ten (10) days of its receipt of Seller’s written noticethe Objections. If Seller fails Sellers fail to timely give such written notice, Seller Sellers shall be deemed to have elected not to cure the objectionsObjections. If Sellers elect not to cure the Objections, whereupon Buyer may elect to either waive such objections Objections and close or may terminate this Agreement, which election by Buyer shall be made by written notice to Sellers within twenty (20) days following after Sellers’ receipt of Buyer’s written notice of objection the Objections. If Buyer fails to Sellertimely give such written notice, Buyer shall be deemed to have elected to waive such Objections and close. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party. Any matters shown by the Title Evidence to which Buyer does not object timely, in accordance with the terms of this Section 6.3(c), or which are waived (or deemed waived) by Buyer as herein provided provided, shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller Sellers shall cause all mortgages, deeds of trust, financing statements and other similar liens encumbering the Seller EntitiesSellers’ fee interest in the Owned Real Property and arising by, through or under the Seller Entities, Sellers or any of their Affiliates, Affiliates to be released (other than liens for taxes Taxes not yet due and payable and any mechanic’s or materialmen’s liens relating to the Assumed Liabilities)) and the same shall not in any event be deemed to be Permitted Exceptions.

Title Defects and Cure. The Title Commitment, the Surveys, Commitment and the Zoning Report Surveys (in each case, to the extent obtained by Buyer Buyers pursuant to Sections 6.3(a), (b) and (cSection 6.3(b) above) are collectively referred to as “Title Evidence”. Buyer Buyers shall notify Seller Sellers within ten (10) days after its their receipt of the last of the Title Evidence of any liensLiens, claims, encroachments, exceptions, exceptions or defects or violations disclosed in the Title Evidence which do not constitute Permitted Encumbrances (collectively, the “DefectsObjections”). SellerSellers, at its sole their cost and expense, shall cure the objections Objections on or before the Closing or Seller Sellers may elect to not cure the objections Objections and shall give written notice to Buyer Buyers within ten (10) business days of its their receipt of Buyer’s objections Buyers’ Objections of its decision their decision, whereupon Buyer Buyers may waive such objections Objections and close or may terminate this Agreement, which election shall be made by written notice to Sellers within ten (10) days of its Buyers’ receipt of Seller’s Sellers’ written notice. If Seller fails Sellers fail to timely give such notice, Seller Sellers shall be deemed to have elected not to cure the objectionsObjections, whereupon Buyer Buyers may waive such objections and close or may terminate this Agreement, which election by Buyer Buyers shall be made by written notice to Sellers within twenty (20) days following Sellers’ receipt of Buyers’ written notice of objection to Sellerthe Objections. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party, except for matters that expressly survive termination of this Agreement. Any matters shown by the Title Evidence to which Buyer does Buyers do not object or which are waived by Buyer Buyers as herein provided shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller Sellers shall cause all mortgages, deeds of trust, financing statements and other similar liens Liens encumbering the Seller EntitiesSellers’ fee interest in the Owned Real Property Property, and arising by, through or under the Seller EntitiesSellers, or any of their Affiliates, to be released (other than liens Liens for taxes not yet due and payable and any mechanic’s or materialmen’s liens Liens relating to the Assumed Liabilities).. 42

Title Defects and Cure. The Title Commitment, the Surveys, Commitment and the Zoning Report Surveys (in each case, to the extent obtained by Buyer pursuant to Sections 6.3(a), (b) and (c) above) b)), are collectively referred to as “Title Evidence”. Buyer shall notify Seller within ten twenty (1020) days after its receipt of the last of the Title Evidence of any liens, claims, encroachments, exceptions, exceptions or defects or violations disclosed in the Title Evidence which do not constitute Permitted Encumbrances (collectively, “Defects”). Seller, at its sole cost and expense, shall cure the objections on or before the Closing or Seller may elect to not cure the objections and shall give written notice to Buyer within ten twenty (1020) days of its receipt of Buyer’s 's objections of its decision decision, whereupon Buyer may waive such objections and close or may terminate this Agreement, which election by Buyer shall be made within ten (10) business days of its receipt of Seller’s written notice. If Seller fails to timely give such notice, Seller shall be deemed to have elected not to cure the objections, whereupon Buyer may waive such objections and close or may terminate this Agreement, which election by Buyer shall be made within twenty (20) days following notice of objection to Seller. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party. Any matters shown by the Title Evidence to which Buyer does not object or which are waived by Buyer as herein provided shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller shall cause all mortgages, deeds of trust, financing statements and other similar liens encumbering the Seller Entities’ fee interest in the Owned Real Property Property, and arising by, through or under the Seller Entities, Entities or any of their Affiliates, to be released (other than liens for taxes not yet due and payable and any mechanic’s 's or materialmen’s 's liens relating to the Assumed Liabilities).

Title Defects and Cure. The Title Commitment, the Surveys, Commitment and the Zoning Report Surveys (in each case, to the extent obtained by Buyer pursuant to Sections 6.3(a), (b) and (c) above) b)), are collectively referred to as “Title Evidence”. Buyer shall notify Seller within ten twenty (1020) days after its receipt of the last of the Title Evidence of any liens, claims, encroachments, exceptions, exceptions or defects or violations disclosed in the Title Evidence which do not constitute Permitted Encumbrances (collectively, “Defects”). Seller, at its sole cost and expense, shall cure the objections on or before the Closing or Seller may elect to not cure the objections and shall give written notice to Buyer within ten twenty (1020) days of its receipt of Buyer’s objections of its decision decision, whereupon Buyer may waive such objections and close or may terminate this Agreement, which election by Buyer shall be made within ten (10) business days of its receipt of Seller’s written notice. If Seller fails to timely give such notice, Seller shall be deemed to have elected not to cure the objections, whereupon Buyer may waive such objections and close or may terminate this Agreement, which election by Buyer shall be made within twenty (20) days following notice of objection to Seller. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party. Any matters shown by the Title Evidence to which Buyer does not object or which are waived by Buyer as herein provided shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller shall cause all mortgages, deeds of trust, financing statements and other similar liens encumbering the Seller Entities’ fee interest in the Owned Real Property Property, and arising by, through or under the Seller Entities, Entities or any of their Affiliates, to be released (other than liens for taxes not yet due and payable and any mechanic’s or materialmen’s liens relating to the Assumed Liabilities).

Title Defects and Cure. The Title Commitment, the Surveys, Commitment and the Zoning Report (in each case, to the extent obtained by Buyer pursuant to Sections 6.3(a), (b) and (c) above) Survey are collectively referred to herein as the “Title Evidence”. Buyer shall notify Seller within ten (10) days after its receipt of the last of .” If the Title Evidence of discloses any liens, claims, encroachments, exceptions, defects or violations disclosed in the Title Evidence other matters which do not constitute Permitted Encumbrances Encumbrances, Buyer may object to the same by giving written notice of such objections to Seller within ten (collectively, 10) days after Buyer’s receipt of the last of the Title Evidence (any such objections being referred to herein as the “DefectsObjections”). Seller, at its sole cost and expense, shall Sellers may elect to either cure the objections Objections on or before the Closing or Seller may elect to not cure the objections and Objections, which election shall give be made by written notice to Buyer within ten (10) days of its after Seller’ receipt of Buyer’s objections written notice of its decision whereupon Buyer may waive such objections and close or may terminate this Agreement, which election shall be made within ten (10) days of its receipt of Seller’s written noticethe Objections. If Seller fails Sellers fail to timely give such written notice, Seller Sellers shall be deemed to have elected not to cure the objectionsObjections. If Sellers elect not to cure the Objections, whereupon Buyer may elect to either waive such objections Objections and close or may terminate this Agreement, which election by Buyer shall be made by written notice to Sellers within twenty (20) days following after Sellers’ receipt of Buyer’s written notice of objection the Objections. If Buyer fails to Sellertimely give such written notice, Buyer shall be deemed to have elected to waive such Objections and close. Upon termination of this Agreement under the terms of this Section 6.3(c), no party to this Agreement shall have any further claims under this Agreement against any other party. Any matters shown by the Title Evidence to which Buyer does not object timely, in accordance with the terms of this Section 6.3(c), or which are waived (or deemed waived) by Buyer as herein provided provided, shall be deemed to be Permitted Encumbrances. Notwithstanding anything contained in this Section 6.3(c) to the contrary, at the Closing, Seller shall cause all mortgages, deeds of trust, financing statements and other similar liens encumbering the Seller EntitiesSellers’ fee interest in the Owned Real Property and arising by, through or under the Seller Entities, Sellers or any of their Affiliates, Affiliates to be released (other than liens for taxes Taxes not yet due and payable and any mechanic’s or materialmen’s liens relating to the Assumed Liabilities)) and the same shall not in any event be deemed to be Permitted Exceptions.