Reconveyance Agreement definition
Examples of Reconveyance Agreement in a sentence
In connection with any reconveyance of Purchaser Interests by the Purchasers pursuant to a Distribution Center Consolidation described in clause (ii) above, the Seller, the Purchasers and Administrative Agent shall execute and deliver a Purchaser Interest Reconveyance Agreement with respect to the Purchaser Interests to be reconveyed.
Without limiting any other provision contained in this Agreement, effective as of the Closing, Buyer shall indemnify, defend, protect and hold Seller harmless from any and all claims, costs, liabilities, obligations and expenses in connection with the Reconveyance Agreement, and Buyer shall assume all of Seller’s obligations thereunder.
Promptly upon obtaining such consent Seller shall assign the Reconveyance Agreement to NewCo E.
Upon the successful Closing, this letter agreement shall constitute a First Amendment to the Reconveyance Agreement; provided, however, if the Closing does not occur on or before December 31, 2008, this Letter and all the term and provisions herein shall be null and void and of no further force or effect.
Except as modified herein, the parties reaffirm all provisions of the Reconveyance Agreement.
Pursuant to Section 3.7 of the Reconveyance Agreement, Shopoff is obligated to deliver ALTA Standard Coverage Owner’s Policy of Title Insurance with Regional Exceptions at its sole expense.
In no event shall this Agreement apply with respect to the reconveyance of the Commercial Site or the School Site (as such terms are defined in the Reconveyance Agreement, which is defined in the Purchase Agreement).
Promptly after the Closing the parties shall apply to the County to consent to the assignment of the Reconveyance Agreement to NewCo E and shall use all commercially reasonable efforts to obtain such consent.
Accordingly, notwithstanding any other provision to the contrary in this Agreement or any other Loan Document, the Borrower shall be permitted to subdivide the Drainage Parcel from the Land in accordance with Exhibit C and to convey the Drainage Parcel to Whitehall or its designee in accordance with the Reconveyance Agreement.
This Re-conveyance Agreement shall run with title to the land, and shall be binding upon successors and assigns.