New Title Matter definition

New Title Matter has the meaning set forth in Section 4.1.2.
Sample 1Sample 2Sample 3
New Title Matter shall have the meaning set forth in Section 4.4(b).
Sample 1Sample 2
New Title Matter as defined in Section 4.2.4.
Sample 1

Examples of New Title Matter in a sentence

  • If any title matter other than a matter disclosed in the Title Commitment or the Survey arises or becomes known to Purchaser subsequent to the date of the Title Commitment (a “New Title Matter”) and such New Title Matter (a) is a Monetary Lien or (b) was created or consented to by Seller, then Seller shall cure the New Title Matter, at Seller’s expense, on or before Closing.

  • If Seller does not agree to cure or remove the New Title Matter, Seller shall notify Buyer in writing within fifteen (15) days after receipt of Buyer’s notice of the New Title Matter.

  • Notwithstanding the foregoing, if Seller has voluntarily subjected the Hotel Properties to any New Title Matter to which the SHR Parties object and which Hotel Sellers are unable or elect not to remove on or prior to Closing, and if the SHR Parties choose to terminate this Agreement, the Hotel Sellers shall reimburse the SHR Parties for their actual out-of-pocket costs incurred with respect to the Transactions.

  • If following the Effective Date, Buyer shall become aware that title to the Property is subject to encumbrances other than the Permitted Exceptions (herein, a “New Title Matter”), then Buyer shall notify Seller in writing of such New Title Matter.

  • If Buyer exercises the right to terminate this Agreement in accordance with Sections 6.3 (including without limitation for any New Title Matter) or 6.4 hereof, this Agreement shall terminate as of the date the termination notice is given by Buyer (except as to such matters that are expressly specified to survive the termination of this Agreement), and Escrow Holder shall return the Deposit to Buyer.

  • At such time as either Seller or Purchaser gains actual knowledge of a New Title Matter, the party gaining such knowledge shall give the other written notice of the such new matter, providing such reasonable detail regarding such matters as may then be available.

  • The parties acknowledge and agree that Seller shall have no obligation to cure or remove any New Title Matter that is not a Removal Item, unless and until Seller agrees in writing to Buyer to cure or remove such New Title Matter.

  • The failure of the Purchaser to object to any New Title Matter within said period shall be deemed a waiver by the Purchaser of its right to object to such New Title Matter and, in such event, such New Title Matter shall be deemed approved by the Purchaser and shall be a Permitted Lien.

  • If the cost to Cure such Involuntary Lien or Involuntary Encumbrance, together with the cost to Cure all other Involuntary Liens and Involuntary Encumbrances of which the Purchaser or any Seller has received written notice pursuant to the preceding sentence after the date hereof and prior to Closing (each, a “New Title Matter”), does not exceed $2,500,000, such Seller shall be obligated to Cure such New Title Matter prior to or at Closing, at such Seller’s sole cost and expense.

  • If Buyer gives Seller notice of objection to any New Title Matter later than the 30th day preceding the Last Closing Date, the Last Closing Date may be extended by Seller, to a date no more than 30 days after the date otherwise specified herein as the Last Closing Date.


More Definitions of New Title Matter

New Title Matter shall have the meaning given such term in Section 3.2(c).
Sample 1
New Title Matter means any Encumbrance against any Property other than (a) those Encumbrances that are Permitted Encumbrances pursuant to clauses (i), (iii), (iv), (v), (vi) and (viii) of the definition of Permitted Encumbrance, (b) any Encumbrance identified in the Schedules or (c) any Encumbrance created by the Buyer.
Sample 1

Related to New Title Matter

  • Title Defect as used herein shall mean any encumbrance, encroachment, irregularity, defect in or objection to Seller’s title to the Leases and Xxxxx (excluding Permitted Encumbrances) which would result in Seller not having Defensible Title.

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

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

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

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

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

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

  • 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.

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

  • 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.

  • 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.

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

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

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

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

  • 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.

  • 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).

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

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

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

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

  • Title Benefit means Seller’s interest in any Subject Interest that is greater than or in addition to that set forth in Exhibit B (including, without limitation, a Net Revenue Interest that is greater than that set forth in Exhibit B) or Seller’s Working Interest in any Subject Interest that is less than the Working Interest set forth in Exhibit B (without a corresponding decrease in the Net Revenue Interest). Any matters that may otherwise constitute Title Benefits, but of which Buyer has not been specifically notified by Seller in accordance with the foregoing, shall be deemed to have been waived by Seller for all purposes.

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

  • Title Commitments has the meaning set forth in Section 5.9.