Title Insurance for Owned Real Property Sample Clauses

Title Insurance for Owned Real Property. The Purchaser shall receive from the Title Companies an owner’s policy of title insurance, or irrevocable and unconditional binder to issue the same, dated, or updated to, the Closing Date, insuring, or committing to insure the Purchaser’s title in fee simple to each parcel of Owned Real Property listed in Section 3.14(a) of the Disclosure Schedule, subject only to the Permitted Encumbrances. Each of Parent and the Purchaser shall pay one-half of the basic title insurance premiums
Sample 1Sample 2
AutoNDA by SimpleDocs
Title Insurance for Owned Real Property. The Red River Project Company shall receive from First American Title Insurance Company or any other company reasonably acceptable to the ECP Parties (the “Title Company”), an owner’s policy of title insurance, or irrevocable and unconditional binder to issue the same, dated, or updated to, the Closing Date, insuring, or irrevocably and unconditionally committing to insure the Red River Project Company’s good and marketable title in fee simple to each parcel of Owned Real Property, subject only to Permitted Encumbrances, with all standard printed exceptions waived, and containing such affirmative endorsements as desired by the ECP Parties, acting reasonably, and otherwise in form and substance reasonably acceptable to the ECP Parties. The Red River Project Company shall pay to the Title Company the premium and other title fees which are payable to the Title Company in respect of such title insurance policy.
Sample 1Sample 2
Title Insurance for Owned Real Property. Promptly following the date hereof, Purchaser shall use its best efforts to obtain from Chicago Title Insurance Company or any other company approved by the Purchaser (the "Title Company"), an owner's policy of title insurance, or irrevocable and unconditional binder to issue the same, insuring, or committing to insure, at its ordinary premium rates, the Purchaser's good and marketable title in fee simple, to the parcels of Owned Real Property listed on Schedule 3.20(a) of the Disclosure Schedule that purchaser has not declined to purchase in accordance with Section 5.19 hereof, subject only to the Permitted Encumbrances, with all standard printed exceptions waived, and containing such affirmative endorsements as desired by the Purchaser, acting reasonably. Within fifteen Business Days of the date of this Agreement (or, if earlier, on the Closing Date), or such later time that may be consented to by Seller, the Purchaser shall notify Seller in writing of such parcels of Owned Real Property (i) that the Title Company has declined to issue such owner's policy of title insurance and (ii) as a result, Purchaser desires not to purchase hereunder ("Elected Excluded Property"). Upon receipt of such notice, Seller shall have an additional fifteen (15) days to obtain such title insurance on Purchaser's behalf. At the expiration of such fifteen (15) day period, any parcel of Elected Excluded Property for which Seller is unable to obtain such title insurance shall constitute "Excluded Owned Real Property" for purposes of this Agreement. At the Closing, the Purchaser shall pay to the Title Company the premium and other title fees which are payable to the Title Company in respect of such title insurance policy.
Sample 1
Title Insurance for Owned Real Property. The Purchaser shall receive from the Title Companies an owner's policy of title insurance, or irrevocable and unconditional binder to issue the same, dated, or updated to, the Closing Date, insuring, or committing to insure the Purchaser's title in fee simple to each parcel of Owned Real Property listed in Section 3.14(a) of the Disclosure Schedule, subject only to the Permitted Encumbrances. Each of Parent and the Purchaser shall pay one-half of the basic title insurance premiums (i.e., premiums exclusive of the cost for endorsements) charged by the Title Companies for such owner's policy of title insurance (or binder), up to an aggregate amount of $40,000, and the Purchaser shall pay all title insurance premiums charged in excess of such aggregate amount, as well as the costs for all endorsements and all other charges which are payable to the Title Companies (including, without limitation, all search and update fees) in respect of the title insurance policies issued in connection with the transactions contemplated by this Agreement;
Sample 1
Title Insurance for Owned Real Property. The Purchaser shall receive (i) from a company approved by the Purchaser (the “Title Company”), an owner’s policy of title insurance, or irrevocable and unconditional binder to issue the same, dated, or updated to, the date of the Closing, insuring, or committing to insure, at its ordinary premium rates, the Purchaser’s good and marketable title in fee simple to each parcel of Owned Real Property listed on Schedule 3.19(a) of the Disclosure Schedule, subject only to the Permitted Encumbrances, with all standard printed exceptions waived, and containing such affirmative endorsements as desired by the Purchaser, acting reasonably. At the Closing, the Sellers shall pay to the Title Company the premium and other title fees which are payable to the Title Company in respect of such title insurance policy, other than the costs of any affirmative insurance; and (ii) a 20-year notarial report confirming full title ownership in the Owned Real Estate relating to Company A and Company B, and showing the absence of any material Encumbrance affecting the right to use or operate any such Owned Real Estate; and
Sample 1
Title Insurance for Owned Real Property. The Company shall have delivered, or caused to be delivered, to Parent, an owner’s policy of title insurance, or irrevocable and unconditional binder to issue the same, from Chicago Title Insurance Company or any other company approved by the Purchaser (the “Title Company”), dated, or updated to, the date of the Closing, insuring, or committing to insure, at its ordinary premium rates, the Company’s good and marketable title in fee simple to the parcel of land located in Jxxxxxx Township, Mahoning County, Ohio, identified as Parcel No. H50-016-001.04-4, subject only to Permitted Encumbrances, with all standard printed exceptions waived, and containing such affirmative endorsements as desired by Parent, acting reasonably.
Sample 1

Related to Title Insurance for Owned Real Property

  • Owned Real Property The Company does not own any real property.

  • Title; Real Property (a) Each Group Member has good and marketable fee simple title to all owned real property and valid leasehold interests in all leased real property, and owns all personal property, in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Borrower, and none of such property is subject to any Lien except Permitted Liens.

  • Title Insurance Policy Lender shall have received (i) a Title Insurance Policy for each Individual Property or a marked-up commitment (in form and substance satisfactory to Lender) from Title Insurer to issue a Title Insurance Policy for each Individual Property and (ii) a fully executed copy of the Title Instruction Letter from the Title Insurer.

  • Title Insurance Policies The Borrower will deliver to the Administrative Agent a policy of title insurance (or marked-up title insurance commitment or title proforma having the effect of a policy of title insurance) (a “Title Policy”) insuring the Lien of such Mortgage as a valid first mortgage or deed of trust Lien on the Mortgaged Property described therein in an amount not less than the estimated fair market value of such Mortgaged Property as reasonably determined by the Borrower, which Title Policy shall (A) be issued by a nationally-recognized title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”), (B) include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Administrative Agent, (C) be supplemented by a “tie-in” or “aggregation” endorsement, if available under applicable law, and such other endorsements as may reasonably be requested by the Administrative Agent (including (to the extent available in the applicable jurisdiction and/or with respect to the Mortgaged Property, in each case, on commercially reasonable terms) endorsements on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business, public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, and so-called comprehensive coverage over covenants and restrictions) if available under applicable law at commercially reasonable rates and (D) contain no other exceptions to title other than Permitted Liens and other exceptions acceptable to the Administrative Agent in its reasonable discretion;

  • Owned and Leased Real Properties (a) Neither Public Company nor any of its Subsidiaries owns or has ever owned any real property.

  • Real Property (a) The Company does not own any real property.

  • Title Insurance The Mortgage Loan is covered by an ALTA lender's title insurance policy, or with respect to any Mortgage Loan for which the related Mortgaged Property is located in California a CLTA lender's title insurance policy, or other generally acceptable form of policy or insurance acceptable pursuant to Seller's Underwriting Guidelines and each such title insurance policy is issued by a title insurer acceptable to prudent lenders in the secondary mortgage market and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring the originator, its successors and assigns, as to the first (with respect to a First Lien Loan) or second (with respect to a Second Lien Loan) priority lien of the Mortgage in the original principal amount of the Mortgage Loan (or to the extent a Mortgage Note provides for negative amortization, the maximum amount of negative amortization in accordance with the Mortgage), subject only to the Permitted Exceptions, and in the case of Adjustable Rate Mortgage Loans, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment to the Mortgage Interest Rate and Monthly Payment. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender's title insurance policy affirmatively insures ingress and egress, and against encroachments by or upon the Mortgaged Property or any interest therein. The Seller (or its predecessor in interest), its successors and assigns, are the sole insureds of such lender's title insurance policy, and such lender's title insurance policy is valid and remains in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender's title insurance policy, and no prior holder of the related Mortgage, including the Seller, has done, by act or omission, anything which would impair the coverage of such lender's title insurance policy, including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Seller;

  • Real Property Matters The Company does not own any real property as of the date hereof and has not owned any real property during the three years preceding the date hereof.

  • Title Insurance and Surveys At the Closing, Lawyer’s Title Insurance Company (the “Title Company”) shall have delivered to Buyer policies of title insurance, or an irrevocable commitment to issue such policies, in accordance with the following: (a) an owner’s title insurance policy with respect to the Owned Property (exclusive of the IDS Site), insuring that Buyer has good and marketable fee simple title in and to each parcel of Owned Property together with all rights, easements and privileges appurtenant thereto (exclusive of the IDS Site) and (b) a leasehold title insurance policy with respect to the Leased Property, insuring that Buyer has good and marketable leasehold title in and to each parcel of Leased Property together with all rights, easements and privileges appurtenant thereto, in each case free and clear of all Encumbrances other than Permitted Encumbrances (collectively, the “Title Policies”). The Title Policies shall contain such endorsements and affirmative coverages as Buyer shall identify on Schedule 7.7 attached hereto and, with respect to title matters and surveys not provided to Buyer as of the date hereof, such additional endorsements and affirmative coverages as Buyer shall reasonably request in writing. Seller shall provide all such affidavits, indemnities (in respect of title), memoranda, assignments, documents and information, whether from Seller or other Persons, in such form as Seller shall reasonably approve and as the Title Company reasonably shall require in order to (i) issue the Title Policies with the coverage required herein, (ii) omit from the Title Policies standard title objections customarily omitted on the basis of title affidavits and documentation delivered by Seller (including, without limitation, exceptions as to parties in possession and liens for work performed at the property), and (iii) evidence Seller’s authority, and the authority of the Person or Persons executing the conveyance documents on behalf of Seller, to consummate the transactions with respect to the Facilities. Buyer shall bear the cost of the title premiums for such Title Policies and Seller shall bear the cost of obtaining and recording such memoranda of leases, lease assignments and other documents as are required by the Title Company in order to issue the Title Policies with the coverages and endorsements required herein. Buyer, at Seller’s expense shall have received a current survey from Professional Engineering Corporation, in a form reasonably acceptable to Buyer, of the Facility located in McAlester, Oklahoma, or such portion thereof, as deemed advisable by Buyer in its sole discretion, certified to Buyer, Buyer’s lender and the Title Company (the “Oklahoma Survey”). Seller shall have delivered to Buyer a survey of the Wichita Site prepared by Professional Engineering Corporation, dated not more than thirty (30) days prior to the Closing, certified to Buyer, Buyer’s lender, the Title Company and such other parties as Buyer may designate (the “Wichita Survey”; together with the Oklahoma Survey, the “Surveys”). Each Survey shall comply with the minimum detail requirements for land title surveys as adopted by the American Land Title Association and the American Congress on Surveying and Mapping. Neither the Wichita Survey nor any other Survey shall disclose (x) Encumbrances other than Permitted Encumbrances, (y) material shortages in area or conflicts or discrepancies in boundary lines or (z) uninsurable encroachments of improvements, facilities or other structures across or over boundary lines, easement areas or rights-of-way.

  • Leased Real Property Section 3.13(b) of the Company Disclosure Letter contains a true, correct and complete list of (i) all of the real property that is leased, subleased, licensed or otherwise used or occupied by, the Company or any of its Subsidiaries (such property, the “Leased Real Property”) and (ii) all leases, subleases, licenses or other Contracts pursuant to which the Company or its Subsidiaries use or occupy, or have the right to use or occupy, now or in the future, such Leased Real Property (each, a “Lease”). The Company has made available to Parent true, correct and complete copies of all Leases (including all material modifications, amendments and supplements thereto), and in the case of any oral Lease, a written summary of the material terms of such Lease. The Company and/or one of its Subsidiaries, as the case may be, have and own good, valid and subsisting leasehold interests in the Leased Real Property under each Lease, subject to proper authorization and execution of such Lease by the other party thereto and Permitted Liens, except in each case, as enforcement may be limited by the Enforceability Limitations, except as would not, individually or in the aggregate, have a Company Material Adverse Effect. With respect to each Lease and except as would not, individually or in the aggregate, have a Company Material Adverse Effect or materially and adversely affect the current use by the Company or its Subsidiaries of the Leased Real Property, (i) each Lease is in full force and effect and a valid, binding and legally enforceable obligation of the Company or its applicable Subsidiary, as the case may be, and, to the Knowledge of the Company, the other parties thereto (except in each case as may be limited by the Enforceability Limitations); (ii) each Lease has not been amended or modified in any material respect except as reflected in the modifications, amendments, supplements and side letters thereto made available to Parent; (iii) there is no existing material default or event of default by the Company or any of its Subsidiaries or, to the Knowledge of the Company, any other party thereto, under any Lease (iii) to the Knowledge of the Company, there are no disputes with respect to any Lease; (iv) neither the Company nor any of its Subsidiaries has collaterally assigned or granted any other security interest in such Lease or any interest therein; and (v) there are no Liens (other than Permitted Liens) on the estate or interest created by such Lease. The Leased Real Property is in all material respects in good operating condition and in a state of good and working maintenance and repair, ordinary wear and tear excepted, and is adequate and suitable for its current uses and purposes. There are no physical conditions or defects on any part of the Leased Real Property that would materially impair or would be reasonably expected to materially impair the continued operation of the business of the Company and its Subsidiaries as presently conducted at such Leased Real Property.

Time is Money Join Law Insider Premium to draft better contracts faster.