Common use of Title to the Real Property Clause in Contracts

Title to the Real Property. (a) Effective as of the Closing Date, but conditioned upon Closing and at Parent’s sole cost and expense, Title Company shall endorse each Title Policy to make such Title Policy effective as of the date of Closing and shall endorse each such Title Policy with a non-imputation endorsement in favor of Parent. (b) In addition, Parent shall have the right to obtain from Title Company, at Parent’s expense such additional endorsements to the Title Policies and such additional liability protection as Parent may elect to obtain; provided, however, that Parent’s ability to obtain such title endorsements and such additional liability protection shall not be a condition precedent to Parent’s obligations hereunder and shall not extend or delay Closing. Parent shall be solely responsible for negotiating with Title Company with respect to the transfer and endorsement of each Title Policy and/or with respect to such title endorsements and/or such additional liability protection as may be requested by Parent, if any. With respect to each Property, the Company Parties will deliver to Parent a copy of any survey of the Property in its possession, without warranty, and Parent shall be solely responsible for, and shall assume the risk of, obtaining a survey (or updating the Company Parties’ survey) of such Property (each a “Survey”).