Common use of Use of Purchase Price to Discharge Title Exceptions Clause in Contracts

Use of Purchase Price to Discharge Title Exceptions. If, at a Closing, there are any title exceptions applicable to the Properties being transferred which are not Permitted Exceptions, then, as part of the escrow Closing process and disbursement of funds at Closing, the Seller may direct the Escrow Agent to use any portion of the Allocated Purchase Price to satisfy the same (and such use of the Allocated Purchase Price shall be deemed to be a payment to or for the benefit of Seller), provided that the Seller shall have delivered to the Escrow Agent or Buyer at the Closing instruments in recordable form sufficient to satisfy and remove such title exceptions of record, together with the cost of any applicable recording or filing fees or such other evidence the Title Company shall deem necessary for the Title Company to remove such exception from the Title Policy. The Buyer, if request is made within a reasonable time prior to the Closing, agrees to cause Escrow Agent to provide at the Closing separate certified or cashier's checks or wire transfers as requested to facilitate the satisfaction of any such title exceptions. The existence of any such liens or encumbrances shall not be deemed objections to title if the Seller shall comply with the foregoing requirements.

Use of Purchase Price to Discharge Title Exceptions. If, at a Closing, there are any title exceptions applicable to the Properties being transferred which are not Permitted Exceptions, then, as part of the escrow Closing process and disbursement of funds at Closing, the Seller may direct the Escrow Agent to use any portion of the Allocated Purchase Price to satisfy the same (and such use of the Allocated Purchase Price shall be deemed to be a payment to or for the benefit of Seller), provided that the Seller shall have delivered to the Escrow Agent or Buyer at the Closing instruments in recordable form sufficient to satisfy and remove such title exceptions of record, together with the cost of any applicable recording or filing fees or such other evidence the Title Company shall deem necessary for the Title Company to remove such exception from the Title Policy. The Buyer, if request is made within a reasonable time prior to the Closing, agrees to cause Escrow Agent to provide at the Closing separate certified or cashier's checks or wire transfers as requested to facilitate the satisfaction of any such title exceptions. The existence of any such liens or encumbrances shall not be deemed objections to title if the Seller shall comply with the foregoing requirements. Section 6.5.

Use of Purchase Price to Discharge Title Exceptions. IfWith respect to the Property, if, at a the Closing, there are any title exceptions applicable to the Properties being transferred Property which are not Permitted Exceptions, then, as part of Exceptions and which the escrow Closing process Seller is obligated by this Agreement or elects to pay and disbursement of funds at Closingdischarge, the Seller may direct the Escrow Agent to use any portion of the Allocated Purchase Price to satisfy the same (and such use of the Allocated Purchase Price shall be deemed to be a payment to or for the benefit of Seller)same, provided that the Seller shall have delivered to the Escrow Agent or Buyer at the Closing instruments in recordable form sufficient to satisfy and remove such title exceptions of record, together with the cost of any applicable recording or filing fees or such other evidence the Title Company shall deem necessary for the Title Company to remove such exception from the Title Policyfees. The Buyer, if request is made within a reasonable time prior to the Closing, agrees to cause Escrow Agent to provide at the Closing separate certified or cashier's checks or wire transfers as requested requested, aggregating up to the amount of the balance of the Purchase Price to be delivered at Closing, to facilitate the satisfaction of any such title exceptions. The existence of any such liens or encumbrances shall not be deemed objections to title if the Seller shall comply with the foregoing requirements. Any unpaid liens for taxes, water charges and assessments applicable to the period prior to the Closing Date shall not be objections to title, but the amount thereof plus any interest and penalties thereon shall be deducted from the Cash Balance of the Purchase Price, subject to the provisions for apportionment of taxes, water charges and assessments contained in Article X of this Agreement.