Examples of ALTA in a sentence
During the Feasibility Study Period, Buyer may, at its sole expense, examine the title to the Property and obtain a commitment for title insurance (the "Title Commitment") covering the Property issued by Old Republic Title Insurance Company or other title company (the "Title Company"), which Title Commitment shall agree to issue to Buyer and/or Xxxxx’s lender, upon the Closing of this transaction, an ALTA owner's and lender’s title insurance policy in the full amount of the Purchase Price.
ALTA, or any party the ALTA subcontracts with, shall maintain limits of liability of not less than those set forth below.
At Closing, Seller will cause the Title Company to issue to Purchaser, or unconditionally commit to issue to Purchaser after Closing, a 2021 ALTA form of extended coverage owner’s policy of title insurance insuring marketable, insurable title to the Property in Purchaser in the amount of the Purchase Price for such Property, subject only to the Permitted Exceptions (the “Title Policy”).
Within forty-five (45) days after Xxxxx's receipt of the Title Report, Xxxxx may disapprove of any exception listed in the Title Report, as updated by survey exceptions based on any ALTA survey obtained by Xxxxx, by delivering written notice to Seller ("Buyer's Title Notice") specifying each title defect or matter for which Buyer is requesting a cure by Seller ("Title Defect").
Escrow Agent shall issue at Closing, or to unconditionally commit at Closing to issue, the Escrow Agent’s most recent form of an ALTA extended owner’s policy (the “Owner’s Policy”) insuring Buyer’s title to the Land and the Improvements in the amount of the Purchase Price (or, at Buyer’s election, the Loan), and the most recent form of an ALTA extended loan policy (the “Lender’s Policy”) in the amount of the Loan (hereinafter defined).