Title Insurance Matters Sample Clauses

Title Insurance Matters. (a) Sellers shall, promptly after the date hereof, order (i) title insurance commitments (together with copies of all underlying recorded documents) with respect to the Acquired Properties from a national underwriting title insurer (the “Title Company”) reasonably acceptable to Buyer (provided that Buyer hereby agrees that the title insurers set forth in Section 5.27(a) of the Sellers Disclosure Letter are acceptable to it), and (ii) surveys with respect to the Acquired Properties from one or more national survey coordinating firms reasonably acceptable to Buyer (provided that Buyer hereby agrees that the survey coordinating firms set forth in Section 5.27(b) of the Sellers Disclosure Letter are acceptable to it) accompanied by surveyor certificates in favor of the applicable Acquired Company (or other applicable designee of Buyer) reasonably acceptable to Buyer. Sellers will cause the items set forth in clauses (i) and (ii) above to be delivered to Buyer promptly after the completion thereof. The premiums for the Title Policies (without giving effect to any so-called simultaneous rate charged by the Title Company with respect to title policies delivered to Buyer’s mortgage lender) and the cost of all title commitments, surveys and affirmative coverages, as well as the endorsements set forth on Section 5.27 to the Sellers Disclosure Letter (the “Endorsements”), shall be the sole responsibility of the Sellers. (b) Sellers shall, at the Closing, deliver to the Title Company such affidavits, certificates, and indemnities as are reasonably required by the Title Company to issue the Title Policies, including, without limitation, the Endorsements.

Title Insurance Matters. The Vendors acknowledge and agree in favour of Purchaser that Purchaser may, in its sole discretion, elect to acquire owner’s and/or lender’s title insurance with respect to all or some of the Real Property at Purchaser’s cost and expense for the Closing (collectively, the “Title Insurance Policies”). In order to facilitate the timely delivery of commitments for the Title Insurance Policies on the Closing Date in a cost effective manner, the Vendors covenant and agree in favour of Purchaser to use their commercially reasonable efforts to co-operate with Purchaser and the title insurers, at Purchaser’s sole cost and expense, in order to facilitate the timely issuance of commitments for the Title Insurance Policies on the Closing Date by: (a) providing information that the title insurer may require that is in the Vendors’ possession and readily available to the Vendors, and (b) having a knowledgeable officer(s) of the Vendors executing and delivering an officer’s certificate (the form and substance of which shall be subject to the approval of the Vendors, acting reasonably) whereby said officer confirms (without personal liability) to the title insurer those aspects of the Vendors’ ownership of the relevant Real Property deemed necessary by the title insurer and to which the Vendors have no reasonable objection. Purchaser acknowledges and agrees that notwithstanding the foregoing, nothing in this Section 11.7 shall in any manner (x) increase or decrease the scope or any other aspect of any of the Vendors’ representations or warranties and/or other obligations contained in this Agreement, (y) result in any Vendor incurring any additional costs (other than the Vendors’ own legal fees and photocopying costs), or (z) constitute a condition to the Closing.

Title Insurance Matters