Title Curative definition
Examples of Title Curative in a sentence
Notwithstanding anything in this Section 4.18 to the contrary, after the Title Curative Deadline, the title curative actions set forth on Schedule 7.15 shall be disregarded from Schedule 4.18 for all purposes of Article 12.
The Sellers and the Buyers shall jointly conduct the remaining Title Curative.
The Sellers shall pay for all reasonable costs and expenses (excluding Buyers’ legal costs) incurred before or after Closing to conduct Title Curative (“Title Curative Costs”).
The Escrow Funds shall remain subject to the Title Escrow to and until completion of all Title Curative for all of the Title Defects.
The Title Escrow shall remain in effect and funded for a period of one (1) year following the Closing Date unless earlier terminated upon completion of Title Curative for all Title Defects and for which the Sellers and the Buyers will have provided a joint termination notice to the escrow agent to release all remaining Escrow Funds and terminate the Title Escrow.
All Title Defects that have not met Title Curative shall survive Closing and shall be deemed to have not been waived.
The Buyers shall have the right to reimbursement from the Title Escrow for all reasonable costs and expenses (excluding Buyers’ legal costs) incurred by the Buyers to conduct the Title Curative.
At Closing, Owner must pay (or otherwise remove as a prior encumbrance on the Property Interest) all mortgages, liens and encumbrances securing the payment of money and any real estate taxes that remain unpaid as of the Closing , and deliver title acceptable to the Department and which conforms to the Department’s title guidance (“Conservation Easements – Title Curative Letter,“ or any materially equivalent subsequent or supplemental written guidance documents provided by the Department).
At Closing, the Sellers shall establish and fund an escrow account pursuant to an escrow agreement reasonably satisfactory to the Sellers and the Buyers substantially in the form of Exhibit L (“Title Escrow”) and in an amount equal to the sum of $500 per mining claim for which Sellers have not achieved Title Curative up to a maximum amount of $200,000 (“Escrow Funds”).
After one (1) year, if Title Curative for all Title Defects is not complete, Sellers shall release from the Escrow Funds to the Buyers the amount of funds remaining unused for each individual mining claim (the maximum sum of $500 per mining claim) for which Sellers have not achieved Title Curative for the Title Defects.