Title Objections; Cure of Title Objections. Purchaser shall have until the Title Exam Deadline to notify Seller, in writing, of such objections as Purchaser may have to anything contained in the Title Commitment or the Survey. Any item contained in the Title Commitment or any matter shown on the Survey to which Purchaser does not object prior to the Title Exam Deadline shall be deemed a Permitted Exception. In the event Purchaser shall notify Seller of objections to title or to matters shown on the Survey prior to the Title Exam Deadline, Seller shall have the right, but not the obligation, to cure such objections. Within three (3) days after receipt of Purchaser’s notice of objections, Seller shall notify Purchaser in writing whether Seller elects to attempt to cure such objections. Seller’s failure to respond within said three (3) day period shall be deemed to be Seller’s election not to cure any such objections. If Seller elects to attempt to cure, and provided that Purchaser shall not have terminated this Agreement in accordance with Section 3.2 hereof, Seller shall have until the date of Closing to attempt to remove, satisfy or cure the same and for this purpose Seller shall be entitled to a reasonable adjournment of the Closing if additional time is required, but in no event shall the adjournment exceed thirty (30) days after the date for Closing set forth in Section 4.1 hereof. If Seller elects not to cure any objections specified in Purchaser’s notice, or if Seller is unable to effect a cure prior to the Closing (or any date to which the Closing has been adjourned), Purchaser shall have the following options: (i) to accept a conveyance of the Property subject to the Permitted Exceptions, specifically including any matter objected to by Purchaser which Seller is unwilling or unable to cure, and without reduction of the Purchase Price; or (ii) to terminate this Agreement by sending written notice thereof to Seller, and upon delivery of such notice of termination, this Agreement shall terminate and the Xxxxxxx Money shall be returned to Purchaser, and thereafter neither party hereto shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. If Seller notifies Purchaser that Seller does not intend to attempt to cure any title objection, Purchaser shall, on or before the expiration of the Inspection Period, notify Seller in writing whether Purchaser shall elect ...
Title Objections; Cure of Title Objections. Purchaser acknowledges that any item contained in the Title Commitment or any matter shown on the Survey shall be deemed a Permitted Exception, provided that Seller agrees that, in any event, all monetary liens (other than liens for bonds and special assessments that are not yet due and payable) consisting of (A) any mortgage, security agreement or other encumbrance granted by Seller or expressly assumed by Seller, (B) any federal or state income tax liens against Seller, (C) any judgment liens against Seller and (D) any inchoate mechanics’ liens arising out of any work of improvement performed at Seller’s request and not subject to proration pursuant to this Agreement, as applicable, shall be removed at Seller’s sole cost and expense on or prior to the Closing Date and shall not be treated as Permitted Exceptions.
Title Objections; Cure of Title Objections. (a) Purchaser shall have until the thirtieth (30th) day after the Effective Date (the “Title Objection Date”) to notify Seller, in writing, of such objections as Purchaser may have to the Title Commitment (including the title exception documents referred to therein) or the Survey, other than the Permitted Exceptions described in clauses (a) and (b) of Section 2.4. The items set forth on Schedule 2.3(a), attached hereto and by this reference made a part hereof hereof, together with any item contained in the Title Commitment or shown on the Survey to which Purchaser does not object on or before the Title Objection Date shall be deemed a “Permitted Exception.”
Title Objections; Cure of Title Objections. (a) Purchaser or its attorneys shall have until the Inspection Date (the "Title Objection Deadline") to notify Seller, in writing ("Objection Letter"), of such objections as Purchaser may have to the Title Commitment (including the title exception documents referred to therein) or the Updated Survey (collectively, "Title Objections"); provided that Acceptable Encumbrances will not be asserted as or constitute Title Objections. "
Title Objections; Cure of Title Objections. (i) The Owners and Xxxxx agree that the following are to be the only exceptions to title (the “Permitted Exceptions”): (a) the Leases identified on Exhibits L-1 (as to the Southdale Real Property), L-2 (as to the Mervyn’s Real Property), L-3 (as to the Southridge Real Property) and L-4 (as to the Younkers Real Property) hereto and any Leases entered into after the date hereof but prior to Closing in compliance with the terms of this Agreement, (b) all non-delinquent real estate taxes and assessments and personal property taxes and all real estate taxes and assessments and personal property taxes which are the obligations of or which are paid directly by Tenants under the Leases identified on Exhibits L-1 (as to the Southdale Real Property), L-2 (as to the Mervyn’s Real Property), L-3 (as to the Southridge Real Property) and L-4 (as to the Younkers Real Property) in effect on the Closing Date or by Anchors to the entity imposing same, (c) the rights of Tenants under the Leases and under any leases entered into after the date hereof but prior to Closing in compliance with the terms of this Agreement, as tenants only with no rights or options to purchase the Property, or any portion thereof, (d) all matters created by or on behalf of Xxxxx, including, without limitation, any documents or instruments to be recorded as part of any financing in connection with the Mergers, (e) mechanics’ or similar liens against Tenants under the Leases or any Anchors under Leases or REA Documents which are in full force and effect on the Closing Date and which obligate Tenants or Anchors thereunder, as the case may be, to remove and discharge such liens at their expense; (f) all matters set forth on the Schedule of Permitted Exceptions attached hereto as Exhibits E-1 (as to the Southdale Real Property), E-2 (as to the Mervyn’s Real Property), E-3 (as to the Southridge Real Property) and E-4 (as to the Younkers Real Property), (g) the REA Documents, (h) any mechanics’ or similar liens filed against the Younkers Real Property or rights to such liens with respect to any of the Younkers Work, except to the extent BRE/Southridge is required to provide lien waivers with respect thereto under the second to last sentence of Section 5.J(iii) hereof, and (i) any exception on the Title Commitments disclosed to Xxxxx after the date hereof and not included in the “Xxxxx’ Title Notice” (hereinafter defined) or deemed to be a Permitted Exception pursuant to this Section 3.C.
Title Objections; Cure of Title Objections. (a) Purchaser or its attorneys shall have until that date which is twenty (20) days from the Effective Date (the “Title Objection Deadline”) to notify Seller and its attorneys, in writing, of such objections as Purchaser may have to the Title Commitment (including the title exception documents referred to therein) or Survey, other than the Permitted Exceptions described in clauses (a) through (d) of Section 2.4. Any item contained in the Title Commitment, any matter shown on the Survey or any document that is of record and properly indexed as of the effective date of such initial title examination to which Purchaser does not object on or before the Title Objection Deadline shall be deemed a “Permitted Exception”.
Title Objections; Cure of Title Objections. (a) Purchaser shall have until 5:00 P.M. eastern standard time on the last day of the Inspection Period (the “Title Objection Period”) to review the Commitment, the related exception documents and the Survey and to notify Seller, in writing, of such objections as Purchaser may have to matters contained therein (“Title Objections”). Any Title Matters or Survey Matters to which Purchaser does not object prior to the expiration of the Inspection Period or the Purchaser waives pursuant to Section 2.3(b) shall be permitted exceptions to title (each, a “Permitted Exception”).
Title Objections; Cure of Title Objections. (a) Purchaser shall have until the Title Exam Deadline to notify Seller, in writing, of such objections as Purchaser may have to anything contained in the Title Commitment or the Survey. (Seller shall use good faith efforts, but without any cost or liability to Seller, to remove or cure title objections raised by Purchaser as to matters set forth on the Title Commitment.) Any item contained in the Title Commitment or any matter shown on the Survey to which Purchaser does not object prior to the Title Exam Deadline shall be deemed a Permitted Exception. In the event Purchaser shall notify Seller of objections to title or to matters shown on the Survey prior to the Title Exam Deadline, Seller shall have the right, but not the obligation, to cure such objections; provided, however, that notwithstanding anything to the contrary contained in this Agreement, Seller shall be obligated, at its sole cost and expense, to take such actions as may be necessary to cause the Title Company to delete as an exception, by payment or other appropriate measure of satisfaction, any mechanic's lien, IRS payment lien, judgment lien or deed of trust or other financing lien created prior to Closing by any action or inaction of Seller, which liens shall be deemed to be excluded from the term "Permitted Exceptions."
Title Objections; Cure of Title Objections. (i) Purchaser shall have until 5:00 p.m. (Eastern time) on the fifteenth (15th) day after the Effective Date (the “Title Objection Deadline”) to examine title to the Property and to provide Seller with a written notice (a “Title Objection Notice”) of any objections Purchaser may have to any exceptions to title disclosed in the Title Commitment or matters disclosed by any existing survey or the Survey (the “Objections”). Any exception to title (other than Monetary Liens (as defined herein)) disclosed in the Title Commitment, any existing survey of public record or the Survey to which Purchaser does not object to in the Title Objection Notice shall be deemed a Permitted Exception.
Title Objections; Cure of Title Objections. (a) Purchaser shall have until the expiration of the Title Review Period to give written notice to Seller of such objections as Purchaser may have to any exceptions to title insurance coverage as disclosed in the Title Commitment. Any such exception to title disclosed in the Title Commitment to which Purchaser does not object by timely written notice shall be a “Permitted Exception.” Purchaser shall not be required to object to any mortgage or deed of trust liens, the lien of any financing of Seller, any exceptions related to Seller’s authority to convey the Property, and the same shall not be deemed Permitted Exceptions. Following delivery of the Title Commitment, Seller shall not alter the condition of title to the Property without the written consent of Purchaser.
