Insurable title definition

Insurable title means title which a title insurance company licensed to do business in North Carolina will insure at its regular rates, subject only to its standard exceptions and those exceptions listed in subsections (a) through (e) above.
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Insurable title means that fee simple title to the Premises is insurable by Title Insurer without exception other than the Permitted Title Exceptions.
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Insurable title means such title as is sufficient for the issuer of the Title Commitment, to issue its binding commitment to insure good and marketable fee simple title to the Real Estate following the Closing in the name of the Company with a title insurance policy issued by said company in an ALTA (Form B) form of owner’s title insurance for the aggregate amount of the Purchase Price, subject only to the Permitted Exceptions (as such term is hereinafter defined).
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Examples of Insurable title in a sentence

  • Insurable title shall be delivered to Buyer by deed on a form acceptable to Seller at Seller's sole and absolute discretion.

  • Insurable title as used herein shall mean title which a title insurance company licensed to do business in the state where the Property is located will insure, subject only to standard exceptions and items (1) through (6) listed above.

  • Insurable title shall be delivered to PURCHASER by Limited Warranty Deed on a form acceptable to Seller in Seller's sole and absolute discretion.

  • What does Title Insurance cover Title searches, title abstracts, chain of title Marketable vs Insurable title Potential title problems and resolution Cloud on title and quiet title suits.

  • Insurable title shall be delivered to Buyer by Xxxx on a form acceptable to Seller in Seller’s sole and absolute discretion.


More Definitions of Insurable title

Insurable title means title insurable at standard rates by the Title Company with a Title Policy.
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Insurable title means title that a title insurance company acceptable to Tenant (“Title Company”) is willing to insure by issuing to Tenant a commitment for an American Land Title Association (“ALTA”) owner’s insurance policy in the amount of the purchase price, at standard rates, insuring Tenant’s title to the Property, without exception other than those mentioned above. If Landlords are unable to deliver good, marketable and insurable fee simple title to the Property at Closing in accord with this Paragraph, Tenant may terminate this Contract and the Xxxxxxx Money will be refunded to Tenant by the Escrow Agent. No later than the expiration of the Inspection Period, Tenant shall, at its expense, obtain a commitment for title insurance issued in accordance with the provisions of this Paragraph. At that time, Tenant shall give Landlords written notice of any objections to matters of title, including any matters of survey. Upon receipt of any such objections to title, Landlords shall have a period of fifteen (15) days within which to either (a) provide the Tenant with written notice of its intention to cure the objectionable matters, in which case the Closing Date will automatically be extended, if necessary, for an additional fifteen (15) days from the date set forth in Paragraph 16; or (b) provide the Tenant with written notice that it does not intend to cure the objectionable matters, in which case the Tenant shall, no later than five (5) days after receipt of Landlords’ notice, elect to either (1) terminate the Contract, in writing, and receive a full refund of the Xxxxxxx Money and any rent payments made by Tenant, or (2) waive the objections to title and proceed with the closing.
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Related to Insurable title

  • Defensible Title means, with respect to a given Asset, such ownership by Seller in that Asset that, subject to and except for Permitted Encumbrances:

  • Marketable Title means such ownership by Seller in the Assets that, subject to and except for the Permitted Encumbrances:

  • Insurable interest as used in this section means any actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.

  • Insurable Crop means Grain Corn.

  • Good and Defensible Title means title that is free from reasonable doubt to the end that a prudent person engaged in the business of purchasing and owning, developing, and operating producing oil and gas properties in the geographical areas in which they are located, with knowledge of all of the facts and their legal bearing, would be willing to accept the same acting reasonably.

  • full insurable value means one hundred percent (100%) of the actual replacement cost of the Property (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items).

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

  • Real Property means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned or leased by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Title means the right to or ownership of a vehicle, vessel, or outboard

  • Owned Real Property has the meaning set forth in Section 4.10(a).

  • Additional Properties means any oil and natural gas assets or related interests that are acquired by any member of the Partnership Group pursuant to an Acquisition.

  • 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.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Material Properties means (a) those Mortgaged Properties designated on Schedule 3.12 as Material Properties and (b) each other Mortgaged Property with respect to which a Mortgage is granted pursuant to Section 5.11 after the Restatement Effective Date.

  • Material Real Property means any fee owned Real Property located in the United States that is owned by any Loan Party with a fair market value in excess of $10,000,000 (at the Closing Date or, with respect to Real Property acquired after the Closing Date, at the time of acquisition, in each case, as reasonably estimated by the Borrower in good faith).

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Company Real Property means the Company Owned Real Property and the Company Leased Real Property.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.