Examples of Additional Title Matters in a sentence
Unless Buyer gives written notice (“Title Disapproval Notice”) that it disapproves any Additional Title Matters, stating the Additional Title Matters so disapproved, before the sooner to occur of the Closing or five (5) days after receipt of written notice of such Additional Title Matters, Buyer shall be deemed to have approved such Additional Title Matters.
Unless Buyer gives written notice (“Title Disapproval Notice”) that it disapproves any Additional Title Matters, stating the Additional Title Matters so disapproved, before the sooner to occur of the Closing or ten (10) days after receipt of written notice of such Additional Title Matters, Buyer shall be deemed to have approved such Additional Title Matters.
In the event Seller determines at any time that it is unable or unwilling to remove any one or more of such disapproved Additional Title Matters, Seller may give written notice to Buyer to such effect; in such event, Buyer may, at its option, terminate this Agreement upon written notice to Seller but only if given prior to the sooner to occur of the Closing or five (5) days after Buyer receives Seller’s notice.
Sellers shall have until the Closing within which to remove the disapproved Additional Title Matters set forth therein from title or obtain from Title Company a commitment to issue an endorsement affirmatively insuring against such items in a form acceptable to Buyer in Buyer’s commercially reasonable discretion, at no cost or expense to Buyer (Sellers having the right but not the obligation to do so).
Each Additional Title Matter will be treated as new title defects as set forth in this Section 6(b)(iii), and Buyer shall have the right to object to such matters and Seller shall have the right to Seller’s Title Response as set forth above; notwithstanding the foregoing, in no event shall anything set forth in this Section 6 delay the Closing, except for any Additional Title Matters which may occur prior to Closing.
In the event Seller determines at any time that it is unable or unwilling to remove any one or more of such disapproved Additional Title Matters, Seller may give written notice to Buyer to such effect; in such event, Buyer may, at its option, terminate this Agreement upon written notice to Seller but only if given prior to the sooner to occur of the Closing or ten (10) days after Buyer receives Seller’s notice.
Unless Buyer gives written notice (“Title Disapproval Notice”) that it disapproves any Additional Title Matters, stating the Additional Title Matters so disapproved, within fifteen (15) days after receipt of written notice of such Additional Title Matters, Buyer shall be deemed to have approved such Additional Title Matters.
Buyer hereby waives its contingencies under Section 7 of the Purchase Agreement, except with respect to (i) Seller’s obligation to deliver Tenant Estoppel Certificates pursuant to Section 7(d) and (ii) Seller’s obligation to deliver the Celavie Estoppels (defined below) (collectively, the “Reserved Contingencies”), and (iii) any Additional Title Matters.
It is understood that, in addition to its rights with respect to Additional Title Matters, Buyer may request that the Title Company make a number of revisions to the Preliminary Title Report and issue a number of endorsements to the Owner’s Policy.
In the event Seller determines at any time that it is unable or unwilling to remove any one or more of such disapproved Additional Title Matters, Seller may give written notice to Buyer to such effect; in such event, Buyer may, at its option, terminate this Agreement upon written notice to Seller (whereupon the Escrow Deposit shall be returned to Buyer) but only if given prior to the sooner to occur of the Closing or ten (10) days after Buyer receives Seller’s notice.