Disapproved Title Matter definition

Disapproved Title Matter shall have the meaning assigned thereto in Section 8.1(c).
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Examples of Disapproved Title Matter in a sentence

  • Within seven (7) days after delivery of the Notice of Disapproved Title Matters, Seller shall notify Buyer in writing (“Seller’s Response to Notice of Disapproved Title Matters”) whether Seller will or will not cure any Disapproved Title Matter prior to the Closing Date, with such notice indicating in reasonable detail the manner in which Seller will cure any Disapproved Title Matter that Seller elects to cure.

  • The procurement by any Seller, at its option, of a written commitment from the Title Company to issue the Title Policy or an endorsement thereto reasonably satisfactory to Buyer as of the Closing (at such Seller’s sole cost and expense) and insuring Buyer against any Disapproved Title Matter (or any “Additional Title Matter” as defined below) shall be deemed a removal thereof from title to the Real Property.

  • If Seller does not deliver Seller’s Response to Notice of Disapproved Title Matters within the time period authorized for such notice, or delivers such notice but does not address each Disapproved Title Matter or part thereof, Seller shall be deemed to have elected not to cure the Disapproved Title Matters or the unaddressed part thereof.

  • If Seller failed to timely deliver a Title Response Notice as to a particular Disapproved Title Matter, then Seller shall be deemed to have made the election in clause (ii) above as to such Disapproved Title Matter.

  • If Seller fails to deliver a Title Response Notice as to a particular Disapproved Title Matter within such one (1) Business Day period, then Seller shall be deemed to have made the election in clause (b) above as to such Disapproved Title Matter.

  • For purposes of the foregoing, Seller shall cure any Disapproved Title Matter not timely listed in a Notice of Non-cure by either causing such Disapproved Title Matter(s) to be removed by the Closing or by obtaining, at Seller's expense, an endorsement or other curative effect acceptable to Buyer in Buyer's sole and absolute discretion.

  • Unless Buyer gives written notice ("Title Disapproval Notice") that it disapproves the exceptions to title shown on the Title Report or the matters disclosed by the Survey, stating the exceptions or matters so disapproved (each, a "Disapproved Title Matter"), not later than Friday, December 11, 2015, Buyer shall be conclusively deemed to have approved the Survey and the Title Report.

  • If Buyer timely delivers a Title Notice indicating a Disapproved Title Matter, then Seller shall have one (1) Business Day after receipt of such Title Notice to elect to notify Buyer in writing (a “Title Response Notice”) that Seller either (a) will in good faith attempt to remove such Disapproved Title Matter from title to the Property on or before the Closing, or (b) elects not to cause such Disapproved Title Matter to be removed from title to the Property.

  • If Seller agrees in writing to cure a Disapproved Title Matter prior to Closing but thereafter subsequently fails to do so, Seller shall be in material default hereunder and Purchaser shall be permitted to pursue the remedies provided in Section 13.2 hereof, subject to any notice and cure provisions relating thereto.

  • In the event Seller fails to satisfy a Disapproved Title Matter prior to or at Closing, then Buyer shall elect either (i) not to close the transaction contemplated hereby, in which event the Deposit shall be returned to Buyer and this Agreement shall be of no further force or effect or (ii) proceed to Closing without the removal or cure of such Disapproved Title Matter, with no reduction in the Purchase Price as a result thereof.

Related to Disapproved Title Matter

  • Title Objection shall have the meaning assigned thereto in Section 8.5.

  • Title Objections has the meaning ascribed to such term in Section 6.2(a).

  • Title Defect means with respect to a Lease any lien, encumbrance, adverse claim, default, expiration, failure, defect in or objection to real property title, other than Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ title to the Lease less than Defensible Title.

  • Permitted Exception means that, with respect to any representation, warranty or covenant with respect to the interest of the Buyer and its assignees in the ARSC Purchased Assets or any Servicer Default, that (i) prior to recordation (A) pursuant to Section 8.3 of this Agreement and/or Section 2.01(d)(i) of the Transfer and Servicing Agreement or (B) upon the sale of a Home to an Ultimate Buyer, record title to such Home may remain in the name of the related Transferred Employee, and no recordation in real estate records of any mortgage or any conveyance pursuant to the related Home Purchase Contract or Home Sale Contract in favor of any Transaction Party or any of the Buyer’s assignees and assigns pursuant to the Receivables Purchase Agreement will be made except as otherwise permitted under Section 2.01(d)(i) of the Transfer and Servicing Agreement and (ii) no delivery of any Home Purchase Contracts, Home Deeds and Equity Loan Notes to any custodian will be required.

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Permitted Title Exceptions means those exceptions to title to the Real Property that are satisfactory to the Acquiror as determined pursuant to Section 2.2.

  • Title Report has the meaning set forth in Section 5.4(b).

  • Specified Matter means any Amendment of a Portfolio Investment that (a) reduces the principal amount of such Portfolio Investment, (b) reduces the rate of interest payable on such Portfolio Investment, (c) postpones the due date of any scheduled payment or distribution in respect of such Portfolio Investment, (d) alters the pro rata allocation or sharing of payments or distributions required by any related underlying instrument in a manner adverse to the Company, (e) releases any material guarantor of such Portfolio Investment from its obligations, (f) terminates or releases any lien on a material portion on the collateral securing such Portfolio Investment, (g) changes any of the provisions of any such underlying instrument specifying the number or percentage of lenders required to effect any of the foregoing or (h) materially changes any financial maintenance covenant.

  • Title Defect Notice shall have the meaning set forth in Section 11.2(a).

  • Objection Notice has the meaning set forth in Section 2.3(a) of this Agreement.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Title Defect Property has the meaning set forth in Section 6.2(a).

  • Property Notice means any order, notice, proposal, demand or other requirement issued by any competent authority (including the Landlord) which materially affects the Academy Trust’s ability to use the Land for the purposes of the Academy. Restrictions on Land transfer

  • Title Review Period shall have the meaning set forth in Section 4.3.

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows:

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Preliminary Title Report A report issued by a title insurance company in anticipation of issuing a Title Insurance policy which evidences existing liens and gives a preliminary opinion as to the absence of any encumbrance on title to a Mortgaged Property, except liens to be removed on or before purchase or refinance, as the case may be, by the Borrower and Permitted Encumbrances.

  • Defect Notice shall have the meaning specified in Section 3.2 of this Agreement.

  • Objection/Exclusion Deadline means the date by which a written objection to this Settlement Agreement or a request for exclusion submitted by a Person within the Settlement Class must be made, which shall be designated as a date no later than forty-five (45) days after the Notice Date and no sooner than fourteen (14) days after papers supporting the Fee Award are filed with the Court and posted to the settlement website listed in Paragraph 4.1(d), or such other date as ordered by the Court.

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.

  • Approved Third-Party Appraiser means each of (a) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Inc., (b) Lincoln International LLC (formerly known as Lincoln Partners LLC), (c) Duff & Xxxxxx Corporation, (d) Valuation Research Corporation, and (e) any other third party appraiser selected by the Borrower in its reasonable discretion.

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Excluded Matter means any action, suit or proceeding by the Corporation or one of its subsidiaries against any Indemnitee who is or was an employee, but not an officer, of the Corporation, or is or was serving at the request of the Corporation as an employee, but not as a director or officer, of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Objections means any objection, application, motion, complaint or any other legal proceeding seeking, in whole or in part, to disallow, determine, liquidate, classify, reclassify, or establish the priority, expunge, subordinate or estimate any Claim (including the resolution of any request for payment of any Administrative Claim).

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).