Insurance definition
Examples of Insurance in a sentence
Procedures for Surrender), Section 4.20 (No Other Representations and Warranties), Section 5.14 (No Other Representations and Warranties), Section 6.9 (Employee Matters), Section 6.10 (Indemnification; Directors’ and Officers’ Insurance), and Section 9.11 (Expenses), and those other covenants and agreements contained herein that by their terms apply, or that are to be performed in whole or in part, after the Effective Time, and the provisions that substantively define any related defined terms.
Seller shall pay any title search and exam fees for preparation of the Title Commitment and the premium for issuance of an Owner’s Title Insurance Policy in the amount of the Purchase Price to Buyer.
Buyer shall pay the full cost of any endorsements to the Owner’s Title Insurance Policy and the cost of any Loan Title Insurance Policy as well as any endorsements to the Loan Title Insurance Policy, and the full cost of any extended coverage as Buyer may require for such policies.
Accordingly, the amount that either Party (an “Indemnifying Party”) is required to pay to any Person entitled to indemnification or contribution hereunder (an “Indemnitee”) shall be reduced by any Insurance Proceeds or other amounts actually recovered (net of any out-of-pocket costs or expenses and any deductible or retention amount incurred in the collection thereof) from any Person by or on behalf of the Indemnitee in respect of the related Liability.
Closing will be conditioned on the agreement of the Title Company to issue an Owner’s Title Insurance Policy, dated as of the Closing Date, in an amount equal to the Purchase Price, with extended coverage over the general exceptions normally contained in an owner’s title insurance policy to be obtained at Buyer’s expense, insuring that Buyer will own insurable fee simple title to the Property subject only to the Permitted Title Exceptions, as defined herein.