Title Status. 4.1 Within ten (10) days after the Effective Date (as hereinafter defined in Paragraph 14.11), Seller shall deliver to Purchaser a Commitment for Title Insurance, Texas standard form (hereinafter referred to as the "Commitment"), together with copies of all instruments and documents referred to therein as exceptions to title covering the Property, in the amount of the Purchase Price, in favor of Purchaser, pursuant to which the Title Company agrees, subject to the provisions thereof, to issue at Closing an Owner Policy of Title Insurance (hereinafter referred to as the "Owner Policy") to Purchaser.
4.2 Purchaser shall have fifteen (15) days after the latest to be received of the Commitment, legible copies of all exception matters referenced in the Commitment and the survey (as hereinafter defined in Paragraph 5.1), to provide to Seller written objections to the status of title to the Property. If such written objections have not been received by Seller prior to the end of the said fifteen (15) day period, Purchaser shall be deemed to have conclusively accepted and approved the status of title to the Property, as shown by the Commitment. If Purchaser does timely deliver to Seller such written objections, Seller shall have ten (10) days from the receipt of the objections to attempt to cure such objections. If Seller is unable or unwilling to cure such objections within such ten (10) day period, Purchaser may either (i) waive such objections in writing and purchase the Property notwithstanding such objections, (ii) extend Seller additional time, not later than the date of Closing, to cure such objections or (iii) terminate this Contract by written notice to Seller, in which event the Earnest Money Deposit xxxxx be returned to Purchaser on demand, and neither Seller nor Purchaser shall have any further obligations hereunder.
4.3 Seller shall deliver to Purchaser, at Closing, a Special Warranty Deed (hereinafter referred to as the "Deed") conveying fee simple title to the Property to Purchaser, subject to the exceptions to title contained in the Commitment approved, or waived, by Purchaser pursuant to Paragraph 4.2 hereof.
Title Status. The Landlord represents that it owns the premises in fee-simple, subject only to encumbrances, assessments, and restrictions which will not interfere with the intended use of the premises, and that it has the full right, power, and authority to enter into this lease for the term herein granted.
Title Status. The County represents that it owns the Premises in fee-simple, subject only to encumbrances, assessments, and restrictions which will not interfere with the intended use of the Premises, and that it has the full right, power, and authority to enter into this Lease for the Term herein granted.
Title Status. If Buyer obtains a title insurance commitment for the Property (see Section 13 below), Buyer review and approval of a current title insurance commitment for the Property showing status of title meeting Buyer’s reasonable approval.
Title Status. The system shall provide the ability to check the status of the title when processing a title, vehicle or registration transaction and suspend the transaction based on business rules. 5.4.3.17 Title Owners: The system shall allow an unlimited number of owners on a title. 5.4.3.18 Seller Information: The system shall provide the ability to capture seller information (dealer / private seller) as well as date of purchase, purchase price, trade-in amount, etc. 5.4.3.19 Sales Tax Exempt: The system shall be able to differentiate vehicles by sales tax exempt status and use that information when assessing charges. Solution Requirements Section # Solution Requirements 5.4.3.20 Sales Tax Basis: The system must be able to determine sales tax based on valuation. Valuation is determined based on numerous things including, but not limited to method of sale (dealer or not), trade in, year, and type of vehicle. 5.4.4 Validate Customer / Documentation 5.4.4.1 Compliance Checks: The system shall be able to provide customer compliance checks for title transactions as defined by business rules. 5.4.5 Validate Vehicle Compliance
Title Status. (i) Lender is the sole legal and beneficial owner of the Assigned Loan and has good and marketable title to the Assigned Loan and (ii) the Assigned Loan is free of any lien, adverse claim, encumbrance, defense, right of set-off, demand or defect whatsoever, except for claims arising under this Agreement. Lender is not a Restricted Sponsor Affiliate under the First Lien Agreement.
Title Status. (i) Lender is the sole legal and beneficial owner of the Promissory Note and has good and marketable title to the Promissory Note and (ii) the Promissory Note is free of any lien, adverse claim, encumbrance, defense, right of set-off, demand or defect whatsoever, except for claims arising under this Agreement.
Title Status. Developer acknowledges that it shall have the opportunity to conduct such investigations of the status of title of the Property as it may choose to make prior to the Due Diligence Date during the Due Diligence Period. Other than the items referred to in subsections c, g, j and k of Section 5.2 of this Agreement, the existence of any Permitted Encumbrance shall not constitute a nonconformity and shall not entitle the Developer to exercise its rights of termination under this Section.
Title Status. Purchaser has obtained a Title Commitment with an effective date of March 2, 2004, at 8:00 A.M., a copy of which is attached hereto as EXHIBIT J. Notwithstanding anything to the contrary in Section 5.3, Purchaser agrees that, subject to Seller's performance of its obligations under this Section 5.4, Purchaser shall not give Seller a Title Objection Notice, except for a Title Objection Notice, if any, given pursuant to Section 5.3.3 above. Seller agrees, without limitation or duplication of Seller's obligations under Section 7.3, to cause to be executed, acknowledged as appropriate, and delivered, such instruments and to take such other actions as may be required in order to comply with the requirements set forth in the following items listed on Schedule B - Section 1 to the Title Commitment attached hereto as EXHIBIT J: Items 2 (except that Purchaser shall be responsible for recording same), 3, 4, 6, 7, 8, and 10. Except as set forth in this Section 5.4, Purchaser agrees that it has reviewed the Title Commitment and the Survey, and is satisfied with title to the Property as of the later of the date of the Title Commitment and the Survey.
Title Status. Purchaser shall have the right to review the Title ------------ Commitment, the Title Documents, and the Survey. In the event that any exceptions to title appear in the Title Commitment or any matters appear on the Survey that Purchaser, acting in good faith, determines to be unacceptable to Purchaser, Purchaser shall, prior to the expiration of the Inspection Period, notify Seller in writing of such objections. Upon the expiration of the Inspection Period, Purchaser shall be deemed to have accepted all exceptions to title referenced in the Title Commitment and all matters reflected on the Survey, except for matters which are the subject of a notification made under the preceding sentence, and such accepted exceptions shall deem to be "Permitted Exceptions" for purposes of this Contract. In addition, "Permitted Exceptions" shall include (a) exceptions shown as standard printed exceptions and exclusions in the Title Policy (other than that the rights of parties in possession shall be deleted and the standard exception for taxes shall be limited to the year in which the Closing occurs, and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership) and (b) any lien created by Purchaser at Closing in connection with Purchaser's acquisition of the Project. The agreed exceptions to title specified in the immediately preceding sentence, together with any title exceptions to which the Purchaser does not object in accordance with Section 3.4, shall be referred to as the "Permitted Exceptions" in this Contract. The Permitted Exceptions shall be described in Exhibit "B" to the Special Warranty Deed referred to in Section 4.2
