Updated Surveys definition

Updated Surveys has the meaning ascribed to such term in Section 6.1.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Updated Surveys has the meaning set forth in Section 2.1(b).

Updated Surveys means, with respect to each parcel of Owned Real Property, a current ALTA survey prepared by duly licensed land surveyors acceptable to Buyer.

Examples of Updated Surveys in a sentence

• Any such modification, update or recertification of the Updated Surveys may be obtained by Purchaser at its sole cost and expense.

• If Sellers have not received such written notice from Purchaser by the Title Notice Date, Purchaser shall be deemed to have unconditionally approved the specific exceptions to title expressly provided in the PTRs and all matters revealed in the Updated Surveys, subject to Sellers’ obligations set forth in Section 6.2(c) below and as otherwise expressly provided in this Agreement.

• If Sellers and Title Company have not received a Termination Notice from Purchaser by the Contingency Date, such failure to deliver same shall be deemed Purchaser’s waiver of all objections to the PTRs and the Updated Surveys that Seller did not agree to cure by Closing, subject to Sellers’ obligations set forth in Section 6.2(c) below and as otherwise expressly provided in this Agreement.

• Purchaser shall deliver or cause to be delivered any Surveys and Updated Surveys to Seller and Title Insurer promptly upon receipt thereof.

• Sellers shall have no obligation to obtain any modification, update, or recertification of the Updated Surveys.

• Purchaser shall use commercially reasonable efforts to obtain the commissioned Updated Surveys as soon as possible.

• Within five days after the execution of this Agreement, Purchaser will order the Updated Surveys it requires and will notify Sellers in writing of the Locations for which Updated Surveys have been ordered.

• Purchaser will have the right to review the Updated Surveys for a period of not less than ten (10) days after the Updated Surveys are available and the Inspection Period will be extended if necessary.

• Purchaser, at its election, or as Purchaser's lenders may require, may have updates or new surveys made at its expense ("Updated Surveys").

• Sellers will use commercially reasonable efforts to cooperate and aid Purchaser's surveyor in preparing the Updated Surveys commissioned by Purchaser.

More Definitions of Updated Surveys

Updated Surveys shall have the meanings given to such terms in Section 4.1(b) hereof.

Updated Surveys has the meaning set forth in Section 4.1(a).

Updated Surveys means, with respect to each parcel of Owned Real Property, a current ALTA survey prepared by duly licensed land surveyors that (i) shall show the location on such Owned Real Property of all improvements, buildings set-back lines, fences, evidence of abandoned fences, ponds, creeks, streams, rivers, officially designated flood plains and flood prone areas, canals, watercourses, easements, roads, rights-of-way, encroachments, public roads providing access to the Owned Real Property, the boundary of Owned Real Property, and other such matters affecting the Owned Real Property whether physically apparent from a physical inspection, of record in public offices, or otherwise, all in accordance with the ALTA Standards, (iii) shall contain a legal description of the boundaries of the land by metes and bounds which shall include a reference to the recorded plat, if any, (iv) shall contain such “Table A” items from the ALTA Standards as reasonably requested by Buyer and agreed to by the applicable surveyor, (v) shall be certified to Buyer and the reputable title company in the form prescribed by the ALTA Standards, and (vi) reflects all visually plottable Encumbrances described on the Updated Title Commitment with respect to such property in accordance with the ALTA Standards.

Updated Surveys shall have the meanings assigned thereto in Section 8.1(b).

Updated Surveys has the meaning given to it in Section 5.1(f).

Updated Surveys. Shall have the meaning given to it in Section 4.07.