ALTA Title Policy definition

ALTA Title Policy means the owner's title insurance policy in an amount not to exceed the Purchase Price issued by the Title Insurer in the condition required and approved by Buyer in the Final Pro Forma Title Policy, prepared in accordance with all standards and industry practice, and without any exceptions, including any of the standard title policy exceptions, other than the Permitted Encumbrances, together with affirmative insurance for the Access Roads, Crossing Agreements and Drain Agreements benefitting the Project.

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ALTA Title Policy is defined in Section 9.

ALTA Title Policy means the title insurance policy issued by the Title Insurer in the condition required and approved by Buyer in the Final Pro Forma Title Policy, prepared in accordance with all standards and industry practice, and without any exceptions, including any of the standard title policy exceptions, other than the Permitted Encumbrances, together with affirmative insurance for the Access Roads, Crossing Agreements and Drain Agreements benefitting the Project.

Examples of ALTA Title Policy in a sentence

However, if Seller do not have a survey, or if the survey is no sufficient to obtain an ALTA Title Policy or equivalent, then Buyer may obtain an ALTA survey or equivalent of the Property.
Seller shall pay: fees for preparation of the conveyance documentation; all documentary transfer taxes, other taxes and/or recording fees payable in connection with the transfer of the Property; Seller's attorneys' fees; the premium for the ALTA Title Policy; and other expenses stipulated to be paid by Seller under other provisions of this Contract.
Purchaser shall pay one-half (1/2) of the escrow fees, one-half (1/2) of the applicable city transfer taxes, all costs associated with Purchaser's financing, all of the recording costs with respect to the Deed, and the entire portion ALTA Title Policy not required to be paid by Seller (including endorsements).
By executing this Agreement, Buyer hereby approves the Title Policy / ALTA Title Policy.
Buyers shall collectively pay (a) any additional premium for the ALTA Title Policy including mortgagee’s title insurance, survey costs and endorsements, (b) one-half (1/2) of all document recording charges, Escrow fees and costs, and (c) Buyers’ collective share of Closing Adjustments.
Holdings shall pay for any lender’s Title Policy or the cost of an ALTA Title Policy above the cost of a CLTA Title Policy.
At Closing, Seller shall convey to Buyer marketable fee simple title to the Property (evidenced by the Title Company’s issuance of a standard ALTA Title Policy) by special warranty deed in a form acceptable to Buyer, subject only to title exceptions acceptable to Buyer.
Taicom is an “accredited investor” within the meaning of Rule 501(a) (1), (2), (3) or (7) of Regulation D under the Securities Act of 1933, as amended (“Securities Act”).
Title Company shall be irrevocably committed to issue the Agency’s ALTA Title Policy in the amount of the Agency Loan insuring the Agency Loan Deed of Trust as a second priority lien on the Leasehold, subordinate only to the Deed of Trust securing the Senior Loan, as provided in this Agreement.
Seller shall pay the premium for an ALTA Title Policy insuring Buyer’s fee simple title to the Owned Real Property as of the Closing Date, in the amount of the Owned Real Property Purchase Price and which policy will be delivered at Closing.

More Definitions of ALTA Title Policy

ALTA Title Policy means with respect to a Resort Property an ALTA policy of title insurance (1970 Form), in states where available, and otherwise an extended coverage policy of title insurance, and in each case (i) issued by the Title Company, (ii) with no exception for creditor's rights (unless the deletion of such exception for creditor's rights is prohibited by the law of the state in which such title policy is being issued), (iii) naming Lender as insured, (iv) in the Title Insurance Amount, and (iv) showing the Mortgage on such Resort Property as an encumbrance thereon subject only to Permitted Encumbrances, and the balance of the policy reflecting a state of title satisfactory to Lender in its reasonable discretion.