Examples of Title Cure Period in a sentence
If Buyer timely delivers a written objection (a "Title Objection") to any item (other than an Acceptable Encumbrance), then Seller shall have the right but not the obligation to use commercially reasonable diligence to remove, discharge or correct such liens, encumbrances or objections and shall have a period of one hundred twenty (120) days after receipt of the Title Objection (the "Title Cure Period") in which to do so (and if necessary the Closing Date shall be extended to permit such cure).
If Seller shall be unwilling or unable to remove or discharge such other liens, encumbrances or objections within such Title Cure Period, then Buyer may, at its option, no later than five (5) days after Seller notifies Buyer of Seller's unwillingness or inability, either terminate this Agreement or accept title in its then existing condition without reduction of the Purchase Price.
Developer and DTE shall work together cooperatively and in good faith during the Secondary Title Cure Period towards revising the Preliminary Pro Forma Title Policy, Survey, and Curative Documents in the manner and condition required hereunder.
Within five (5) business days after the expiration of the Title Cure Period, AMI shall provide County with written notice (the “Title Response Letter”) setting forth those Title Objections which AMI has cured or removed and those Title Objections which AMI is not required to cure or remove and is unable or unwilling to cure or remove.
Following Developer’s receipt of the Pro Forma Objection Notice, but prior to the expiration of the Secondary Title Cure Period, Developer shall use commercially reasonable efforts to cure all objections to Impacting Exceptions made by DTE in the Pro Forma Objection Notice by Curative Actions or by utilizing Curative Documents on forms approved by DTE and the Title Company, provided, however, that those forms attached hereto as Exhibit P are deemed approved by DTE.