Title Insurance Policy Endorsements Sample Clauses

Title Insurance Policy Endorsements. With respect to the existing title insurance policy for each Property and BREF Property, if applicable, Trade Street Fund and BREF, as applicable, shall use commercially reasonable efforts to deliver the following: (i) an endorsement “bringing down” the effective date of the policy to the date of Closing, and showing any intervening Liens; (ii) a Non-Imputation Full Equity Transfer endorsement; and (iii) a “Fairways” endorsement.

Title Insurance Policy Endorsements. The Administrative Agent shall have received an endorsement to the Title Policy in the form of an ALTA Revolving Loan Endorsement insuring the continuing First Priority of the Lien of the Deed of Trust as security for the Borrowing on the date such Borrowing is made and insuring that (i) there has been no change in the condition of title unless permitted by the Loan Documents and (ii) there are no intervening Liens or encumbrances (including inchoate mechanic’s Liens) which may then or thereafter take priority over the Lien of the Deed of Trust or the Borrowing. The Lenders will not be required to make any Loans and the Issuer will not be required to issue any Letters of Credit while there exist any mechanics’ Lien Claims against all or part of the Property or the Improvements (unless the Borrowing will be used to discharge such mechanic’s lien Claims or unless the Borrower shall have delivered a bond in form and substance satisfactory to the Administrative Agent and in such amount determined by the Administrative Agent in its reasonable judgment to be adequate to cover the payment of such Lien).

Title Insurance Policy Endorsements. The Agent shall have received endorsements to the Title Policies covering each Mortgaged Property from the Title Insurance Company insuring the interest of the Agent and each of the Banks as mortgagee under the Mortgage.

Title Insurance Policy Endorsements. Furnish to Agent, as soon as practicable, but in any event no later than June 13, 2006, in respect of each parcel of the Real Estate owned by an Obligor subject to a Mortgage an amendment to which is required by Section 7.2, an endorsement to the title policy to be dated the date of recording of each amendment to each Mortgage delivered in accordance with Section 7.2. Each such endorsement shall (i) ensure that each Mortgage as amended insured thereby creates a valid first Lien on such parcel free and clear of all defects and encumbrances, except Permitted Liens; and (ii) name Agent as the insured thereunder. Borrowers shall give Agent evidence reasonably satisfactory to Agent that all premiums in respect of each such endorsement, and all charges for mortgage recording taxes, if any, have been paid.