Examples of Alleged Title Defect in a sentence
Buyer's notice asserting Alleged Title Defect(s) shall include a description and full explanation (including any and all supporting documentation associated therewith) of each Alleged Title Defect being claimed and a value which Buyer in good faith attributes to curing the same.
Seller shall have the right but not the obligation to cure any Alleged Title Defect asserted in such Notice at its own expense prior to Closing, in which case the parties shall proceed to Closing without adjustment of the Purchase Price.
The value allocated to each Property as set forth on Exhibit "A" and the costs to cure such title defects shall be used by the parties to determine the amount of any adjustment, if any, due to the existence of an Alleged Title Defect.
In determining whether an alleged title defect exists with respect to the HS Exchange Properties, the term "Alleged Title Defect " shall mean a Title Defect which is asserted by Seller in accordance with Article 4.2, and the costs associated with curing such individual Alleged Title Defect exceeds TWENTY-FIVE THOUSAND and No/100 United States Dollars (US $25,000) net to Buyer's interests.
This Section 11.3 shall be the exclusive right and remedy of Buyer with respect to any Alleged Title Defect, Seller's failure to have defensible title or any other title matter with respect to any Asset.