Discharge of Title Objections Sample Clauses

Discharge of Title Objections. If on the Closing Date there are any Required Exceptions or any other Title Objections which Seller has elected to pay and discharge, Seller may use any portion of the Purchase Price to satisfy the same, provided Seller shall either (a) deliver to Buyer at the Closing instruments in recordable form and sufficient to cause such Title Objections to be released of record, together with the cost of recording or filing such instruments, or (b) if specifically agreed to in writing by Buyer, cause the Title Company to insure over the same, without any additional cost to Buyer, whether such insurance is made available in consideration of payment, bonding, indemnity of Seller or otherwise, provided that any such insurance over any matter other than a monetary lien shall be subject to Buyer’s written approval.

Discharge of Title Objections. Notwithstanding anything herein to the contrary, Seller shall be deemed to have removed or corrected each matter or condition that is not a Permitted Exception if, in Seller’s discretion and at its sole cost, Seller either (a) causes the Title Company to remove such matter or condition as an exception to title in the applicable Title Commitment issued at Closing or affirmatively insures against the same in a manner reasonably acceptable to Purchaser, in each case without any additional cost to Purchaser, whether such insurance is made available in consideration of payment, bonding, indemnity of Seller or otherwise, or (b) delivers (i) its own funds (or directs that a portion of the Purchase Price be delivered) in an amount needed to fully discharge any such matter or condition to the Title Company with instructions for the Title Company to apply such funds to fully discharge any such matter or condition, and (ii) if required by the Title Company, such instruments in recordable form as are necessary to enable the Title Company to discharge such matter or condition of record.

Discharge of Title Objections. If on the Closing Date there are any Title Objections which Seller has agreed to pay and discharge pursuant to Section 3.3(b)(i) or has elected to pay and discharge pursuant to Section 3.3(b)(ii), Seller may use any portion of the Balance to satisfy the same, provided (i) Seller shall deliver to the Title Company at the Closing instruments in recordable form and sufficient to satisfy such Title Objections of record, together with the cost of recording or filing such instruments, or (ii) Seller shall cause the Title Company to omit the same, without any additional cost to Buyer, by bond or escrow acceptable to the Title Company. Seller shall provide such affidavits as the Title Company may reasonably require to discharge Seller’s obligations hereunder provided such affidavits are reasonable and are customarily provided by sellers of real property in similar transactions in the City of New York and are otherwise reasonably acceptable to Seller. In addition, if any supplemental title report or updates to the Summit Title Report discloses judgments, bankruptcies or other returns against other persons having names the same as or similar to that of Seller or the partners or members of Seller, then Seller shall, upon request, deliver to the Title Company affidavits showing that such judgments, bankruptcies or other returns are not against Seller or any partners or members of Seller provided such affidavits are reasonable and are customarily provided by sellers of real property in similar transactions in the City of New York and are otherwise reasonably acceptable to Seller. Notwithstanding the foregoing, if the Title Company will not omit any Title Objection or Other Title Objections raised by Buyer, but Royal Abstract of New York, LLC (“Royal”) issues a written commitment indicating that it is ready, willing and able to omit such Title Objection or Other Title Objection, at no additional cost to Buyer for such coverage, if Buyer is not willing to waive such objection, Buyer agrees to insure title with Royal, at Buyer’s sole cost and expense, who will insure title to the Premises free and clear of such Title Objection or Other Title Objections.

Discharge of Title Objections. If on the Closing Date there are any Title Objections which Prudential has elected to pay and discharge, Prudential may use any portion of the Acquisition Cash to satisfy the same, provided Prudential shall deliver to Meridian at the Closing instruments in recordable form and sufficient to satisfy such Title Objections of record, together with the cost of recording or filing such instruments, or provided that Prudential shall cause Title Company to insure over the same, without any additional cost to Meridian, whether such insurance is made available in consideration of payment, bonding, indemnity of Prudential or otherwise.

Discharge of Title Objections. If on the Closing Date there are any Title Objections which Sellers are required to pay and discharge, Sellers may use any portion of the Cash Balance to satisfy the same, provided Sellers shall deliver to Buyer at the Close of Escrow, instruments in recordable form and sufficient to satisfy such Title Objections of record, together with the cost of recording or filing such instruments. Notwithstanding anything to the contrary contained in this Section 4, Sellers agree to have all Monetary Liens removed from title at or prior to Closing.

Discharge of Title Objections. If on the Closing Date as the same may be extended pursuant to Subsection 7.2.2 there are any title exceptions which Seller is able to remove or required to remove as provided herein, Seller shall remove the same at or prior to Closing. The term “remove” as used in this Agreement shall mean that Seller in its discretion shall either (a) cause the Buyer’s Title Company, in a manner acceptable to Buyer in Buyer’s sole discretion, (i) to remove the same as an exception to title in both Buyer’s and its mortgagee’s title policies, or (ii) to insure against the same without any additional cost to Buyer, whether such insurance is made available in consideration of payment, bonding, indemnity of Seller or otherwise.

Discharge of Title Objections. If on the Closing Date, as the ----------------------------- same may be extended pursuant to Section 3.2.1, there are any Subsequent Title ------------- Objections which Prudential has elected to clear, or which Prudential is required to Remove as provided herein, Prudential shall Remove the same at Closing. The term "REMOVE" as used in this Agreement shall mean that Prudential ------ in its discretion shall either (a) cause REIT OP's Title Insurer to remove the same as an exception to title in REIT OP's title policy or to insure against the same in a manner reasonably acceptable to REIT OP, without any additional cost to REIT OP, whether such insurance is made available in consideration of payment, bonding, indemnity of Prudential or otherwise, or (b) use its own funds if and as supplied to the REIT OP's Title Insurer for such purpose to discharge the same, provided Prudential shall either (i) deliver to REIT OP at the Closing instruments in recordable form and sufficient to discharge such Subsequent Title Objections of record, together with the cost of recording or filing such instruments, or (ii) provide title insurance therefor in the manner described in clause (a) above.

Discharge of Title Objections. Subject to the limitations of Section 1.8(h) above, if on the Closing Date there are any Title Objections which Seller has elected to or is required to pay and discharge, Seller may use any portion of the Cash Balance to satisfy the same, provided Seller shall deliver to Buyer at the Close of Escrow, instruments in recordable form and sufficient to satisfy such Title Objections of record, together with the cost of recording or filing such instruments, or provided that the Title Objections are not liens, Seller shall cause the Title Company to insure over the same, without any additional cost or loss to Buyer, whether such insurance is made available in consideration of payment, bonding, indemnity of Seller or otherwise.

Discharge of Title Objections. If on the Closing Date there are any Required Exceptions or any other Title Objections which Seller has elected to pay and discharge, Seller may use any portion of the Purchase Price to satisfy the same, provided Seller shall cause the Title Company to Remove the same.