Common use of Title Examination; Notice of Defects Clause in Contracts

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers of any asserted Title Defects affecting the Examined Interests not later than fourteen (14) days prior to the date scheduled for the Closing in Section 13.1 hereof (the "Title Notice Date"). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. (b) Sellers shall have a period of eleven (11) days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies in curing Title Defects so noticed by Buyer shall result in a downward adjustment of the Base Price at the Closing. In the event Sellers are unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expiration

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's ’s sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers Seller of any asserted Title Defects affecting the Examined Interests not later than fourteen seven (147) business days prior to the date scheduled for the Closing in Section 13.1 hereof 12.1 (the "“Title Notice Date"”). Each such notice shall include a brief description de­scription of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment adjust­ment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. Notwith­standing the foregoing, Buyer shall not be entitled to assert Title Defects with respect to any particular Property unless the aggregate value of all Title Defects affecting such Property exceeds the lesser of (i) the Agreed Value of such Property, or (ii) $20,000. (b) Sellers Seller shall have a period of eleven five (115) business days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(sno­tice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies Seller in connection with curing Title Defects so noticed shall be borne and paid by Buyer Seller and shall result in not give rise to a downward adjustment of the Base Purchase Price at the Closingadjust­ment under Section 7.6. In the event Sellers are Seller is unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expirationexpiration of the cure period, the parties shall proceed in accordance with Section 3.4.

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers of any asserted Title Defects affecting the Examined Interests not later than fourteen thirty-five (1435) days prior to after the date scheduled for the Closing in Section 13.1 hereof of this Agreement (the "Title Notice Date"). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. (b) Sellers shall have (i) a period of eleven twenty (1120) days after the Title Notice Date to cure or cause the Companies Company to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies in curing Title Defects so noticed by Buyer shall result in a downward adjustment of the Base Price at the Closing. In the event Sellers are unable or unwilling to cure or cause the Companies Company to cure any of the asserted Title Defects prior to the expirationexpiration of cure period, the parties shall proceed in accordance with Section 3.4.

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers of any asserted Title Defects affecting the Examined Interests not later than fourteen (14) days prior to the date scheduled for the Closing in Section 13.1 hereof (the "Title Notice Date"). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. (b) Sellers shall have a period of eleven (11) days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies in curing Title Defects so noticed by Buyer shall result in a downward adjustment of the Base Price at the Closing. In the event Sellers are unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expirationexpiration of each cure period, the parties shall proceed in accordance with Section 3.4.

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers of any asserted Title Defects affecting the Examined Interests not later than fourteen five (145) business days prior to the date scheduled for the Closing in Section 13.1 12.1 hereof (the "Title Notice Date"). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. (b) Sellers Seller shall have a period of eleven three (113) business days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies in curing Title Defects so noticed by Buyer shall result in a downward adjustment of the Base Price at the Closing. In the event Sellers are Seller is unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expirationexpiration of each cure period, the parties shall proceed in accordance with Section 3.4.

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers of any asserted Title Defects affecting the Examined Interests not later than fourteen (14) days prior to the date scheduled for the Closing in Section 13.1 hereof February 23, 1997 (the "Title Notice Date"). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects (i) constitute a breach of the special warranty contained in the Assignment, Conveyance and Xxxx of Sale to be delivered at Closing, or (ii) are set out in a notice given to Seller on or prior to the Title Notice Date. (b) Sellers Seller shall have a period of eleven five (115) days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies in curing Title Defects so noticed by Buyer shall result in a downward adjustment of the Base Price at the Closing. In the event Sellers are Seller is unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expirationexpiration of each cure period, the parties shall proceed in accordance with Section 3.4.

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers of any asserted Title Defects affecting the Examined Interests not later than fourteen fifteen (1415) days prior to the date scheduled for the Closing in Section 13.1 12.1 hereof (the "Title Notice Date"). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. (b) Sellers Seller shall have a period of eleven twelve (1112) days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies in curing Title Defects so noticed by Buyer shall result in a downward adjustment of the Base Price at the Closing. In the event Sellers are Seller is unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expirationexpiration of each cure period, and exceed ten percent (10%) of the interests set out in Exhibit A, Seller shall have the right to terminate this Agreement, or if Seller elects not to terminate, the parties shall proceed in accordance with Section 3.4.

Title Examination; Notice of Defects. (a) Promptly after execution of this Agreement, Buyer shall, at Buyer's ’s sole cost and expense, commence and pursue such examination of title to the Examined Interests as Buyer deems necessary or proper. Buyer will conclude its title review and give notice to Sellers Seller of any asserted Title Defects affecting the Examined Interests not later than fourteen (14) days prior to the date scheduled for the Closing in Section 13.1 hereof May 10, 2007 (the "“Title Notice Date"”). Each such notice shall include a brief description of each Title Defect of which notice is being given, the action required to cure such Title Defect and the proposed adjustment to the Base Price by reason of the existence of such Title Defect. Buyer shall be deemed to have waived and agreed to take the Properties subject to any Title Defects existing with respect to the Examined Interests except to the extent such Title Defects are set out in a notice given on or prior to the Title Notice Date. Notwithstanding the ram2ndqtr10q-ex1015.htm foregoing, Buyer shall not be entitled to assert Title Defects with respect to any particular Property unless the aggregate value of all Title Defects affecting such Property exceeds the lesser of (i) the Agreed Value of such Property, or (ii) $10,000. (b) Sellers Seller shall have a period of eleven three (113) days after the Title Notice Date to cure or cause the Companies to cure all or any portion of the Title Defects described in any notice(s) of Title Defects affecting Examined Interests properly given by Buyer prior to such date. All costs and expenses incurred by the Companies Seller in connection with curing Title Defects so noticed shall be borne and paid by Buyer Seller and shall result in not give rise to a downward Purchase Price adjustment of the Base Price at the Closingunder Section 7.6. In the event Sellers are Seller is unable or unwilling to cure or cause the Companies to cure any of the asserted Title Defects prior to the expirationexpiration of cure period, the parties shall proceed in accordance with Section 3.4.