Common use of Defects of Title Clause in Contracts

Defects of Title. If prior to the last day of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 days after the Acceptance Date) (any of which is called a "Defect in Title"), Purchaser shall give Seller written notice of such Defect in Title and Seller shall have 30 days after receipt of such notice to elect to either (i) terminate this Agreement by written notice to Purchaser, or (ii) remove, or otherwise cure to Purchaser's satisfaction, the Defect in Title, and if necessary the date of Closing shall be extended for such 30-day period to allow Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable to remove or cure the Defect in Title, then Purchaser shall have the right to either: (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (ii) terminate this Agreement on or before the date of Closing, by delivering written notice of such to Seller as provided in Section 9 above. In the event Purchaser so terminates this Agreement, Purchaser shall receive a refund of any refundable portion of its ▇▇▇▇▇▇▇ Money Deposit, only if the Defect in Title is a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement.

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchasers Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchasers failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to Purchaserobtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, Purchaser the Title Company shall receive a refund of any refundable portion of its return the ▇▇▇▇▇▇▇ Money DepositDeposit to Purchaser and neither party shall have any further obligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchaser's failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to Purchaserobtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, Purchaser the Title Company shall receive a refund of any refundable portion of its ▇▇▇▇return the Earnest Money Deposit to Purchase▇ ▇▇▇ Money Deposit▇either party shall have any further obligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchaser's failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to Purchaserobtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, the Title Company shall return the Earnest Money Deposit to Purchaser and neither party shall receive a refund of any refundable portion of its have an▇ ▇▇▇▇▇▇▇ Money Depositer obligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchaser's failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion except as otherwise specified, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to with Purchaser's consent, obtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, the Title Company shall return the Earnest Money Deposit to Purchaser and neither party shall receive a refund of any refundable portion of its ▇▇▇▇have ▇▇▇ Money Deposit▇▇rther obligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchasers failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to Purchaserobtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, Purchaser the Title Company shall receive a refund of any refundable portion of its return the ▇▇▇▇▇▇▇ Money DepositDeposit to Purchaser and neither party shall have any further obligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchaser's failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until fifteen (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 15) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, Purchaser shall give to provide Seller with notice of its objection to the defect of title. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to Purchaserobtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, the Title Company shall return the Earnest Money Deposit to Purchaser and neither party shall receive a refund of have any refundable portion of its ▇▇▇▇▇▇▇ Money Depositobligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior to the last day of the Inspection Periodon or before August 31, Purchaser 2005, Buyer asserts the existence of any encumbrance, encroachment on or defect in in, or objection to title to to, any portion of the Fee Theatres Real Property based on PurchaserBuyer's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 days after the Acceptance Date) Buyer (any of which is called a "Defect in Title"), Purchaser shall Buyer will give Seller written notice of such Defect in Title thereof to Seller on or before August 31, 2005, and then Seller shall have 30 days after receipt of such notice to elect to either may, at Seller's sole election either: (i) terminate this Agreement by written notice notify Buyer in writing that it does not intend to Purchaser, or (ii) remove, or otherwise cure to Purchaser's satisfaction, the Defect in Title, and if necessary the date of Closing shall be extended for such 30-day period to allow Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable to remove correct or cure the Defect in Title, or (ii) attempt to correct or cure the Defect in Title on or before the ▇▇▇ by (A) attempting to obtain title insurance over such Defect in Title, or (B) otherwise using reasonable efforts to remove the Defect in Title. Seller's lack of response within a period of one business day after receipt of Buyer's notice shall be deemed as Seller's election not to correct or cure the Defect in Title prior to ▇▇▇. If Seller does not elect or is deemed not to have elected o correct or cure the Defect in Title, Buyer shall have the right to cancel this Agreement by delivering written notice to Seller on or before the last day of the Due Diligence Period, or to waive any such Defect in Title and elect to close under this Agreement.. If Seller elects to attempt to correct or cure the Defect in Title, but the Defect in Title cannot, through the exercise of reasonable diligence, be corrected or cured on or before the ▇▇▇, the ▇▇▇ shall be automatically extended for a time period not to exceed 15 days in order to allow Seller to correct or cure such matter. If Seller elects to attempt to correct or cure the Defect in Title and if such Defect in Title cannot be corrected or cured within the 15-day extension of the ▇▇▇, then Purchaser shall Buyer will have the right to either: (ix) waive any such Defect in TitleTitle and elect to close under this Agreement, override Seller's election to terminate and proceed to Closing or (iiy) terminate cancel this Agreement by delivering written notice to Seller on or before the date of Closingthe ▇▇▇ (as it may be extended). If Buyer elects to cancel this Agreement due to Seller's election to not correct or cure any Defect in Title, by delivering written notice of such to Seller as provided in Section 9 above. In the event Purchaser so terminates this Agreement, Purchaser shall Buyer will receive a prompt refund of any refundable portion of its the ▇▇▇▇▇▇▇ Money Deposit, only if Deposit plus interest less the Defect in Title is a material defect in title that prevents Non-Refundable Deposit and the use Parties will be relieved of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement, except that the indemnities contained in Sections 7(b) and 16(b) shall survive such termination. If, after Seller notifies Buyer of its intent to correct or cure any Defect in Title but is subsequently unable to correct or cure any Defect in Title within the 15-day extension of ▇▇▇ and Buyer terminates due to such inability, Buyer will receive a prompt refund of the entirety of the ▇▇▇▇▇▇▇ Money Deposit plus interest and the Parties will be relieved of all further obligations under this Agreement, except that the indemnities contained in Sections 7(b) and 16(b) shall survive such termination.

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's intended use or development (a "defect of title") Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchaser's failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title. Seller shall have 30 days after receipt the right, in its sole discretion, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to Purchaserobtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, the Title Company shall return the Earnest Money Deposit to Purchaser and neither party shall receive a refund of have any refundable portion of its ▇▇fu▇▇▇▇▇ Money Depositobligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."

Defects of Title. If prior Purchaser shall have the right to object to any defect of title which appears in the Title Documents and which renders title to the last day Property unmerchantable or which makes the Property unsuitable for Purchaser's Intended Use (a "defect of title"). Any objection to a defect of title must be in writing and must be received by Seller no later than the expiration of the Inspection Period (as defined in Section 4.2). Purchaser's failure to provide Seller with written notice of an objection to any title matter appearing in the Title Documents within the Inspection Period shall be deemed to be a waiver by Purchaser of any objection it might otherwise have; and all such title matters shall become additional "Permitted Exceptions." Notwithstanding the foregoing, if a defect of title is not revealed in the Title Documents and is discovered by Purchaser after the close of the Inspection Period, Purchaser asserts the existence of any encumbrance, encroachment on or defect in or objection to title to any portion of the Fee Theatres based on Purchaser's examination of the Title Commitment and the Title Documents, or any other information received by Purchaser shall have until five (other than a title exception described on Exhibit F, in which case notice of a title defect must be given by Purchaser to Seller within 10 5) days after the Acceptance Date) (any date of which its discovery of the defect of title or the date of Closing, whichever is called a "Defect in Title")earlier, to provide Seller with notice of its objection to the defect of title, provided, however, that Purchaser shall give be deemed to have approved and accepted any matters that are shown on the Plat as described in Section 10.6. If Seller receives timely written notice from Purchaser of such Defect in Title and a defect of title, Seller shall have 30 days after receipt the right, in its sole discretion except as otherwise specified, to (a) correct or cure the defect of such notice to elect to either title, (ib) terminate this Agreement by written notice to with Purchaser's consent, obtain title insurance over the defect of title through title policy endorsement or otherwise, or (iic) remove, notify Purchaser that Seller does not intend to cure or otherwise cure to Purchaser's satisfaction, insure over the Defect in Title, and if necessary the date defect of Closing shall be extended for such 30-day period to allow title. If Seller to so remove or cure the Defect in Title. In the event Seller fails, refuses or is unable or unwilling to remove cure or cure the Defect in Titleinsure over a defect of title, then Purchaser shall have the right to either: either (i) waive such Defect in Title, override Seller's election to terminate and proceed to Closing or (iia) terminate this Agreement on and its obligations hereunder, or before (b) waive its objection to the date defect of Closing, by delivering written notice of such title. If Purchaser elects to Seller as provided in Section 9 above. In the event Purchaser so terminates terminate this Agreement, the Title Company shall return the Earnest Money Deposit to Purchaser and neither party shall receive a refund of have any refundable portion of its ▇▇▇▇▇▇▇ Money Depositr obligation hereunder. If Purchaser elects to waive its objection to the defect of title, only if the Defect in Title is title matter objected to shall thereafter be considered a material defect in title that prevents the use of the Fee Theatres for its intended purpose, and both parties shall be released from all further obligations under this Agreement."