Loan Title Policy definition

Loan Title Policy means the title insurance policy (i) naming Lender as the insured, (ii) in the amount of the Loan, (iii) in form (including endorsements), date and substance, and written by a title insurance underwriter, satisfactory to Lender, (iv) insuring a valid first lien upon the Property by virtue of the Security Instrument, and (v) containing no exceptions other than the Permitted Encumbrances and those otherwise acceptable to Lender.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Loan Title Policy. The title insurance policy issued by Charter Title Company, on behalf of First American Title Insurance Company, in favor of Administrative Agent on or about the date hereof insuring the Lien of the Security Instrument.

Loan Title Policy. The ALTA Extended Coverage Loan Policy of Title Insurance (2006 Form) issued by the Title Company with a liability limit equal to the Loan Amount, together with such endorsements and policies of coinsurance and reinsurance as may be required by Lender,

Examples of Loan Title Policy in a sentence

• Borrower shall furnish to Administrative Agent, at Borrower’s expense, the Loan Title Policy showing Administrative Agent as the insured thereunder, in the aggregate amount of the Loans and in form, date and substance satisfactory to Administrative Agent insuring a valid first lien upon the Property by virtue of the Security Instrument and containing no exceptions other than the Permitted Encumbrances and as otherwise specifically approved in writing by Administrative Agent.

• If the underwriter issuing the Loan Title Policy becomes insolvent or is placed in receivership or for any other reason the Loan Title Policy becomes unenforceable, Borrower shall furnish to Administrative Agent, at Borrower’s expense, another mortgagee title insurance policy or policies in the same amount and otherwise in substantially the same form as the original Loan Title Policy.

• If the Loan Title Policy becomes invalid, or the insurer becomes insolvent or is placed in receivership, then Borrower shall, within 30 days after ▇▇▇▇▇▇’s demand, furnish to Lender, at ▇▇▇▇▇▇▇▇’s expense, a substitute Loan Title Policy.

• As of the date hereof, except as set forth on Schedule 3.3.18 attached hereto, there are no mechanics’ or other similar liens or claims that have been filed for work, labor or materials affecting the related Mortgaged Property that are or may be prior or equal in priority to the Lien of the Pledged Mortgage, except those that are insured against pursuant to the applicable Mortgage Loan Title Policy.

• To Borrower’s actual knowledge, such Mortgage Loan Title Policy was issued in connection with the origination of the related Mortgage Loan.

• No holder of the related Pledged Mortgage has done, by act or omission, anything that would, and no Borrower Entity has any actual knowledge of any other circumstance that would, impair the coverage under such Mortgage Loan Title Policy.

• On or before the Effective Date, Borrower shall furnish to Lender, at Borrower’s expense, the Loan Title Policy.

• Such Mortgage Loan Title Policy is in full force and effect and all premiums thereon have been paid and will provide that the insured includes the owner of the Mortgage Loan and its successors and/or assigns.

• Except as identified on Schedule 3.3.18 attached hereto, as of the origination date of the Mortgage Loan, there are no mechanics’ or other similar liens or claims that have been filed for work, labor or materials affecting the related Mortgaged Property that are or may be prior or equal to the Lien of the Pledged Mortgage, except those that are insured against pursuant to the applicable Mortgage Loan Title Policy.

• On or before the Effective Date, Borrower shall furnish to Lender, at Borrower's expense, the Loan Title Policy.

More Definitions of Loan Title Policy

Loan Title Policy has the meaning set forth in Section 2.6(b).