Title Matters Casualties Sample Clauses

Title Matters Casualties. TRANSFER RESTRICTIONS 39 11.1 General Disclaimer of Title Warranties and Representations 39 11.2 Notice of Title Defects; Defect Adjustments 39 11.3 Casualty or Condemnation Loss 45 11.4 Preferential Purchase Rights and Consents to Assign 46 ARTICLE XII ENVIRONMENTAL MATTERS 48 12.1 Environmental Defects 48 12.2 NORM, Wastes and Other Substances 52 ARTICLE XIII ASSUMPTION; SURVIVAL; INDEMNIFICATION 53 13.1 Indemnities of EXCO 53 13.2 Indemnities of BG 54 13.3 Limitation on Liability 54 13.4 Express Negligence 55 13.5 Exclusive Remedy 55 13.6 Indemnification Procedures 56 13.7 Survival 58 13.8 Non-Compensatory Damages 58 13.9 Cooperation by BG Concerning Retained Litigation 58 13.10 Exclusion of Certain Matters 59
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Title Matters Casualties 
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Related to Title Matters Casualties

  • Title Matters Seller agrees to share equally with Buyer the closing costs and the cost of a title insurance company's commitment for and policy of title insurance. Buyer shall pay for any lender’s/mortgagee’s/instrument holder’s title insurance coverage. The title insurance company will furnish a copy of the commitment for title insurance and copies of all of the exception documents referred to therein (hereafter collectively referred to as the “Title Commitment”) to Seller, Buyer, Buyer’s lender and the listing/selling broker as promptly as possible. The Title Commitment shall show a merchantable title vested in Seller, subject to easements, restrictions and protective covenants of record, right-of-way’s, setbacks, tenant rights, trees, fences, ordinances and regulations, unmatured and future assessments, restrictions and protective covenants of record, provided no forfeiture provisions as contained therein, encroachments and overlaps, zoning laws, ordinances and regulations, those exceptions which are standard to a policy of title insurance in the State of Kansas or as specified herein, and those matters attaching to the title by reason of Buyer taking title to the real property. Buyer shall have a period of five (5) days following receipt of the Title Commitment (the “Objection Period”) in which to examine the Title Commitment and advise Seller in writing of any objections ("Title Objections") the Buyer may have to Seller's title as shown in the Title Commitment. Seller shall then have a period of five (5) days in which to notify Buyer in writing of those Title Objections it elects to cure. In the event Seller elects to cure less than all of the Title Objections, Buyer shall have the right to terminate this Agreement by giving Seller written notice thereof within five (5) days of its receipt of Seller's notice, in which case the Xxxxxxx Money shall be returned to Buyer, and thereafter neither party shall have any further obligation hereunder. In the event Buyer does not terminate this Agreement, Seller shall have until Closing ("Cure Period") in which to cure the Title Objections the Seller has elected to cure, which the Buyer Agrees to extend for an additional 45 days in the event Seller has initiated a lawsuit to cure the title objection or objections. Title Objections may also be cured in accordance with applicable current titled standards in the Kansas Title Standards Handbook.

  • Environmental Defects For purposes of this Agreement, the term “Environmental Defect” means, with respect to any given Asset, an individual environmental condition identified with specificity in Buyer’s Environmental Review that constitutes a material violation of Environmental Laws in effect as of the date of this Agreement in the jurisdiction in which the affected Asset is located, excluding, however any environmental conditions deemed not to be Environmental Defects by application of Section 5.04(c).

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