Examples of Disapproved Title Exceptions in a sentence
Buyer shall have the continuing right to update the Title Report and the Survey from time to time and to give Seller notice of any additional Disapproved Title Exceptions first arising after the date of the Title Report or the Survey, as the case may be.
Buyer acknowledges that Buyer has approved the exceptions to title shown in that certain preliminary title report or owner's title commitment for the Property issued by the Title Company (the "Title Report") and matters shown on the Survey (if any) other than those exceptions or matters identified on EXHIBIT D attached hereto ("Disapproved Title Exceptions"), which Disapproved Title Exceptions Seller shall remove (or cause to be removed) as exceptions to title prior to the Closing.
Following the timely receipt of a Disapproved Title Exceptions Notice from Buyer, if Seller fails to timely deliver a Cure Notice to Buyer, then Seller shall be deemed to have elected not to cure any of the Disapproved Title Exceptions.
In the event Buyer timely delivers to Seller a New Title Exceptions Approval Notice, those New Title Exceptions approved by Buyer pursuant to the New Title Exceptions Approval Notice shall be deemed to constitute Permitted Title Exceptions and the remaining New Title Exceptions shall continue to constitute Disapproved Title Exceptions.
Following the timely receipt of a Disapproved Title Exceptions Notice from Buyer, if Seller elects to cure one or more of the Disapproved Title Exceptions, then Seller shall have until the last Business Day immediately preceding the Closing Date to cure the applicable Disapproved Title Exceptions.
Seller shall cause all New Title Exceptions which are not approved by Buyer pursuant to a New Title Exceptions Approval Notice (and which are therefore deemed to constitute Disapproved Title Exceptions) to be cured on or before the last Business Day immediately preceding the Closing Date.
Following the timely receipt of a Disapproved Title Exceptions Notice from Buyer, if Seller elects to cure one or more of the Disapproved Title Exceptions, then Seller shall have until the Cure Deadline to either: (y) cure all of the applicable Disapproved Title Exceptions that Seller has elected to cure and deliver written notice to Buyer of such cure; or (z) deliver written notice to Buyer of Seller’s failure to cure one or more of the Disapproved Title Exceptions that Seller has elected to cure.
In the event Buyer timely delivers to Seller a Disapproved Title Exceptions Notice, Seller shall have the right, but not the obligation, to agree to cure one or more of the Disapproved Title Exceptions by giving Buyer written notice (“Cure Notice”) of such election not later than 5:00 p.m. PST on the date that is five (5) Calendar Days following Seller’s receipt of Buyer’s Disapproved Title Exceptions Notice.
On or before the Cure Deadline, Seller shall either: (i) cause all New Title Exceptions which are not approved by Buyer pursuant to a New Title Exceptions Approval Notice (and which are therefore deemed to constitute Disapproved Title Exceptions) to be cured and deliver written notice to Buyer of such cure; or (ii) deliver written notice to Buyer of Seller’s failure to cure one or more of such Disapproved Title Exceptions.
If, prior to Closing, any of the Disapproved Title Exceptions are not cured by Colonial to the reasonable satisfaction of Buyer, then Buyer may either (i) terminate this Agreement, the Asset Agreement, the Option Agreement and the Master Agreement, (ii) accept title subject to the Disapproved Title Exceptions or (iii) exclude the Purchased Real Property subject to the Disapproved Title Exceptions, in which case the Purchase Price will be adjusted accordingly.