Examples of Title Examination Period in a sentence
Any items shown on Title Commitment and Title Documents reviewed by Purchaser to which Purchaser does not object on or before the end of the Title Examination Period shall be deemed to be approved by Purchaser and shall be “Permitted Exceptions” (herein so called) for purposes of this Agreement.
From and after the expiration of the Title Examination Period, Buyer shall be entitled to furnish Seller written claim notices meeting the requirements of Section 4.06 setting forth any and all matters which Buyer intends to assert as a breach of Seller’s Special Warranty (collectively the “Special Warranty Notices” and individually a “Special Warranty Notice”).
Any matters that may otherwise constitute Title Defects relating to the Assets but that are not specifically raised in writing by Buyer prior to the expiration of the Title Examination Period shall be deemed to have been waived.
For all purposes of this Agreement, Buyer shall be deemed to have waived any Title Defect which Buyer fails to assert as a Title Defect by written notice given to Seller on or before the expiration of the Title Examination Period.
For all purposes of this Agreement, Buyer shall be deemed to have waived any Title Defect which Buyer fails to assert as a Title Defect by a Title Defect Notice given to Seller on or before the expiration of the Title Examination Period.
The Title Examination Period for a Location shall be extended for an additional five (5) business day period with respect to any supplements or updates to any New Title Commitment or Updated Survey received by Purchaser prior to the Closing Date but Purchaser may only object to facts first revealed by the supplement or update.
If Buyer does not provide Buyer’s Title Objection to Seller prior to the expiration of the Title Examination Period, Buyer shall be deemed to have determined that the Title Report and all matters referenced therein are satisfactory to Buyer.
In no event shall any Title Defect Amount, Environmental Defect Amount or Remediation Amount asserted by Buyer, or any Seller Title Credit asserted by Seller, as a Deferred Adjustment Claim exceed the amount asserted by Buyer or Seller therefor prior to the end of the Title Examination Period in accordance with Section 6.2 or the Environmental Examination Period in accordance with Section 5.5, as applicable.
To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer agrees to give Seller written notice of any Title Defect which Buyer determines exists promptly following Buyer’s determination of the existence of same, which notice may be preliminary in nature and supplemented prior to the end of the Title Examination Period.
If Buyer discovers any Title Defect, Buyer shall promptly notify Seller thereof on or prior to the expiration of the Title Examination Period.