Title Objection Notice. On or before the Due Diligence Expiration Date, Buyer may give to Seller written notice (the “Title Objection Notice”) of any Title Encumbrance which is not acceptable to Buyer as a Permitted Encumbrance on the title to the Property (the “Title Objection”). Any Title Encumbrance affecting the Property not objected to in the Title Objection Notice from Buyer to Seller shall be deemed to be approved or waived by Buyer and shall be a Permitted Encumbrance. If Buyer fails to provide a Title Objection Notice timely to Seller, then Buyer’s right to object on account of title shall be deemed waived, and all Title Encumbrances shall be Permitted Encumbrances.
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Samples: Purchase and Sale Agreement (KBS Real Estate Investment Trust, Inc.), Purchase and Sale Agreement (Industrial Income Trust Inc.)
Title Objection Notice. On or before the date that is five (5) days prior to the Due Diligence Expiration Date, Buyer may give to Seller written notice (the “Title Objection Notice”) of any Title Encumbrance which that is not acceptable to Buyer as a Permitted Encumbrance on the title to the Real Property (the “Title ObjectionObjections”). Any Title Encumbrance affecting the Real Property not objected to in the Title Objection Notice from Buyer to Seller shall be deemed to be approved or waived by Buyer and shall be a Permitted Encumbrance. If Buyer fails to provide a Title Objection Notice timely to Seller, then Buyer’s right to object on account of title Buyer shall be deemed waivedto have accepted and approved all Title Encumbrances disclosed in the Commitment, and all such Title Encumbrances disclosed in the Commitment shall be deemed Permitted Encumbrances.
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Samples: Purchase and Sale Agreement (Behringer Harvard Multifamily Reit I Inc)
Title Objection Notice. On or before the Due Diligence Expiration Date, Buyer may give to Seller written notice (the “Title Objection Notice”) of any Title Encumbrance (other than a Permitted Encumbrance) which is not acceptable to Buyer as a Permitted Encumbrance on the title to the Property (the “Title Objection”). Any Title Encumbrance affecting the Property not objected to in the Title Objection Notice from Buyer to Seller shall be deemed to be approved or waived by Buyer and shall be a Permitted Encumbrance. If Buyer fails to provide a Title Objection Notice timely to Seller, then Buyer’s right to object on account of title shall be deemed waived, and all Title Encumbrances shall be Permitted Encumbrances.
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