Qualified Title Insurance Policy definition

Qualified Title Insurance Policy means an ALTA extended coverage mortgagee’s title insurance policy in form and substance reasonably satisfactory to Lender.

Qualified Title Insurance Policy means (i) with respect to each of the Properties, (x) if applicable, an ALTA extended coverage mortgagee’s title insurance policy in form and substance reasonably satisfactory to Lender, together with such endorsements as Lender shall reasonably request, and (y) an owner’s title insurance policy in favor of the applicable Mortgage Loan Property Owner (except that Borrower shall not be required to purchase new or updated owners’ policies) with a “Mezzanine Lender’s Financing Endorsement,” naming Lender as an additional insured, in form and substance reasonably acceptable to Lender (or in the alternative, a letter executed by the title company providing substantially the same benefit to Lender), and (ii) with respect to the equity pledged to Lender pursuant to the Loan Documents, a UCC insurance policy insuring Lender’s first-priority security interest in 100% of the equity pledged to Lender pursuant to the Loan Documents, and otherwise in form and substance reasonably acceptable to Lender.

Qualified Title Insurance Policy means a Title Insurance Policy issued by Commonwealth Title Insurance Company or another title company acceptable to Lender, with reinsurance and direct access agreements acceptable to Lender, which Title Insurance Policy shall (A) provide coverage in the amount of the Loan, (B) insure Lender that the Mortgage creates a valid lien on the Property encumbered thereby of the requisite priority, free and clear of all exceptions from coverage other than Permitted Encumbrances and standard exceptions and exclusions from coverage (as modified by the terms of any endorsements), (C) contain such endorsements and affirmative coverages as Lender may reasonably request, (D) name Lender as the insured and (E) be assignable.

Examples of Qualified Title Insurance Policy in a sentence

• Lender shall have received a marked, signed commitment to issue, or a pro-forma version of, a Qualified Title Insurance Policy in respect of the Property, listing only such exceptions as are reasonably satisfactory to Lender.

• Since the date of the Qualified Survey relating to each Property referenced in the applicable Qualified Title Insurance Policy, no new improvement has been constructed on such Property and there has been no alteration to the exterior of any existing improvement on such Property (other than routine repair and replacements of roofs, walls or windows).

• Except as shown on the Qualified Survey, all of the improvements on the Property lie wholly within the boundaries and building restriction lines of the Property, and no improvements on adjoining property encroach upon the Property, and no easements or other encumbrances upon the Property encroach upon any of the improvements, so as, in either case, to adversely affect the value or marketability of the Property, except those that are insured against by a Qualified Title Insurance Policy.

• Lender shall have received a marked, signed commitment to issue, or a signed pro-forma version of, a Qualified Title Insurance Policy in respect of the Property, listing only such exceptions as are reasonably satisfactory to Lender.

• Lender shall have received a marked, signed commitment to issue, or a pro-forma version of, a Qualified Title Insurance Policy in respect of each Mortgage Loan Property, listing only usual and customary permitted exceptions and such other exceptions reasonably approved by Lender.

More Definitions of Qualified Title Insurance Policy

Qualified Title Insurance Policy means, collectively (i) an ALTA extended coverage mortgagee’s title insurance policy in favor of Senior Lender, satisfying the requirements described in the Senior Loan Documents in all material respects and otherwise in form and substance acceptable to Lender; and (ii) an ALTA Owner’s Policy of Title Insurance with a Mezzanine Lender Endorsement and so-called “Eagle 9” coverage and otherwise in form and substance acceptable to Lender.

Qualified Title Insurance Policy means for any Parcel an ALTA 1992 Loan Policy of Title Insurance issued by First American Title Insurance Company or another title company acceptable to Lender, which Policy of Title Insurance shall (A) provide coverage in amounts satisfactory to Lender, (B) insure Lender that the Mortgage creates a valid lien on the Parcel encumbered thereby of the requisite priority, free and clear of all exceptions from coverage other than Permitted Encumbrances and standard exceptions and exclusions from coverage (as modified by the terms of any endorsements), (C) contain such endorsements and affirmative coverages as Lender may request, (D) name Lender as the insured and (E) be assignable.

Qualified Title Insurance Policy means a mortgagee's title insurance policy in form and substance reasonably satisfactory to Lender.

Qualified Title Insurance Policy means, as the context may require, (i) a mortgagee’s title insurance policy with respect to each of the Mortgaged Properties in favor of Mortgage Lender satisfying the requirements set forth in the Mortgage Loan Agreement, and otherwise reasonably acceptable to Mortgage Lender, (ii) a UCC insurance policy insuring Lender’s first-priority perfected security interest in 100% of the limited liability company interests in Property Owner LLC, 100% of the limited partnership interests in Property Owner LP and 100% of the limited liability company interests in Property Owner GP, in each case, pledged by Borrower to Lender pursuant to the Pledge Agreement, and otherwise in form and substance reasonably acceptable to Lender and (iii) an owner’s title insurance policy with respect to each of the Mortgaged Properties in favor of Property Owner with a “Mezzanine Lender’s Financing Endorsement,” or a comparable endorsement reasonably acceptable to Lender naming Lender as an additional insured, in form and substance reasonably acceptable to Lender.

Qualified Title Insurance Policy means an ALTA title insurance policy (1970 unmodified form, where issuable) issued by a title company acceptable to Lender, with reinsurance and direct access agreements acceptable to Lender, which title insurance policy shall (A) provide coverage in amounts reasonably satisfactory to Lender, (B) insure Lender that the Mortgage creates a valid first priority lien on the Property, free and clear of all exceptions from coverage other than such Liens, encumbrances and other matters described on Schedule B of such policy which have been approved by Lender in its sole discretion and Permitted Encumbrances (other than those described in clause (b) of the definition of Permitted Encumbrances) (C) contain such endorsements and affirmative coverages as Lender may reasonably request, (D) name Lender as the insured and (E) be assignable by its terms with a transfer of the Loan.

Qualified Title Insurance Policy means an ALTA (or, with respect to Mortgaged Properties in the State of Texas, the Texas Land Title Association) extended coverage mortgagee’s title insurance policy in form and substance reasonably satisfactory to the Facility Agent.

Qualified Title Insurance Policy means an ALTA (or, in Texas, TLTA) extended coverage mortgagee’s title insurance policy.