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Final Title Commitment definition

Final Title Commitment refers to a commitment for the issuance of a standard coverage ALTA owner’s title insurance policy insuring fee simple title to the Property in the name of Buyer for the amount of the Purchase Price, which commitment is dated after the Auction and provided to Buyer prior to Closing; provided, however, if such commitment is updated and/or revised at any time or from time to time prior to Closing: (a) the updated and/or revised version(s) shall be provided to Buyer; and (b) the “Final Title Commitment” for purposes of this Agreement shall refer to the latest version delivered to Buyer prior to Closing. Buyer shall also be entitled to receive copies of the recorded documents which are listed, identified or described as exceptions in the Final Title Commitment. Unless a different title company is selected by mutual agreement of the parties confirmed in writing, the Final Title Commitment shall be prepared and/or issued by American Abstract Company of McClain County, Inc. Subject to the foregoing provisions, Xxxxx agrees to accept the Final Title Commitment furnished by Seller notwithstanding: (i) standard exceptions; (ii) any exception or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (iii) any specific or general exception or exclusion with respect to Minerals; and/or (iv) any matter that is listed, identified or described as an exception in Schedule B-II of the Final Title Commitment and that constitutes a Permitted Exception. The cost of furnishing the Final Title Commitment shall be charged to Seller.
Sample 1

Examples of Final Title Commitment in a sentence

  • At closing, Seller shall pay for the cost of issuing a standard owner’s title insurance policy in accordance with the Final Title Commitment.

  • At Closing, Seller shall pay for the cost of issuing a standard owner’s title insurance policy in accordance with the Final Title Commitment.

  • Buyer agrees to accept the Final Title Commitment notwithstanding: (a) standard exceptions, conditions and requirements; (b) any exception, condition or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (c) any specific or general exception or exclusion with respect to Minerals; and/or (d) any matter listed, described or revealed in the Final Title Commitment that constitutes a Permitted Exception.

  • The cost of furnishing the Final Title Commitment shall be charged to Seller.

  • At Closing, Seller shall pay for the cost of the issuance of a standard owner’s title insurance policy in accordance with the Final Title Commitment; provided, however, that Seller shall not be obligated to pay the costs of any special coverages or endorsements requested by Buyer or Buyer’s lender.

  • Seller shall have no obligation with respect to and Buyer’s obligations are not contingent upon the satisfaction of any Buyer-Related Requirement or the availability or issuance of any extended or special title insurance coverage, any title insurance endorsement or any other title insurance product other than the Final Title Commitment for the issuance of a standard coverage ALTA owner’s title insurance policy as described in this Agreement.

  • At closing, Seller shall pay for the cost of issuing a standard coverage ALTA owner’s title insurance policy in accordance with the Final Title Commitment.

  • Buyer agrees to accept the Final Title Commitment furnished by Seller notwithstanding: (a) standard exceptions, conditions and requirements; (b) any exception, condition or requirement that can and will be satisfied and/or removed at or prior to Closing; and/or (c) any matter listed, described or revealed in the Final Title Commitment that constitutes a Permitted Exception.

  • Seller shall pay all search fees, abstracting expenses and attorney’s fees incurred for the preparation of the Preliminary Title Evidence and the Final Title Commitment.

  • The deed restriction shall also require all commercial uses in Phases II and III to be upscale uses and shall expressly prohibit uses that would detract from the operation of the Hotel including, without limitation, flea markets, dollar stores, adult entertainment, pawn shops and adult-themed restaurants and establishments (it being agreed that competition from a second hotel shall not be deemed a detraction).

Related to Final Title Commitment

  • Title Commitments has the meaning set forth in Section 3.5.

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

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

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

  • sectional title unit means a unit defined in section 1 of the Sectional Titles Act;

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

  • Title Policies has the meaning set forth in Section 6.17.

  • sectional title scheme means a scheme defined in section 1 of the Sectional Titles Act;

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Service commitment area means a medically underserved Iowa city with a population of less than 26,000 that is located more than 20 miles from a city with a population of 50,000 or more. Each applicant participating in the program must contract with the service commitment area to ensure the service commitment area provides a nonrefundable $2,000 contribution for deposit in the rural Iowa advanced registered nurse practitioner and physician assistant trust fund. Payment of the nonrefundable contribution to the trust fund can be made by, but is not limited to, the following organizations: community agencies, hospitals, medical groups, municipalities, community foundations, local government entities, or other community entities. Locations and distances between cities will be consistently measured and verified by calculating the straight-line distance between main post offices.

  • Title Insurer means Chicago Title Insurance Company.

  • Title Company means First American Title Insurance Company.

  • Existing Survey means the existing ALTA survey of the Property.

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

  • 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.

  • Assigned Value means the Market/Offer Price, as defined in Section 7.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Initial assessed value means the assessed value, as equalized, of all the taxable property within the boundaries of the development area at the time the resolution establishing the tax increment financing plan is approved as shown by the most recent assessment roll of the municipality for which equalization has been completed at the time the resolution is adopted. Property exempt from taxation at the time of the determination of the initial assessed value shall be included as zero. For the purpose of determining initial assessed value, property for which a specific local tax is paid in lieu of a property tax shall not be considered property that is exempt from taxation. The initial assessed value of property for which a specific tax was paid in lieu of a property tax shall be determined as provided in subdivision (w).

  • Permitted Exception means (a) liens for Taxes and other governmental charges and assessments which are not yet due and payable, (b) liens of landlords and liens of carriers, warehousemen, mechanics and materialmen and other like liens arising in the ordinary course of business for sums not yet due and payable, (c) other liens or imperfections on property which are not material in amount or do not materially detract from the value or the existing use of the property affected by such lien or imperfection, (d) such statements of fact and exceptions shown on any title insurance policies delivered to Global.

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Earnest Money Deposit (EMD) means the refundable amount to be submitted by the Bidder along with RFP documents to NMRC

  • Aggregate Purchase Price has the meaning set forth in Section 1.1.

  • Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a tenderer along with its tender.

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

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

  • Immaterial Title Deficiencies means minor defects or deficiencies in title which do not diminish more than 2% of the aggregate value of the Oil and Gas Properties evaluated in the Reserve Report used in the most recent determination of the Borrowing Base.

Most Referenced Clauses

Most Referenced Definitions