Manner of Cure of Objections and Update Objections Clause Samples

Manner of Cure of Objections and Update Objections. Seller may, if Seller so elects pursuant to Section 6.04 or Section 6.06, and Seller shall, if Seller is obligated pursuant to Section 6.07, (i) use any portion of the Balance to cure or discharge any Objection(s) or Update Objection(s) or (ii) deposit with Title Company monies (which may include a portion of the Purchase Price) and/or documents sufficient to effect the issuance of the Title Policy, as provided herein, with no exception for or, if expressly provided for herein, affirmative insurance against the enforcement or collection of any Objection or Update Objection against the Third Floor Unit and at normal premium rates. If written request is made by Seller or Seller’s attorneys at least two (2) Business Days prior to the Closing Date, Purchaser shall deliver separate unendorsed official bank teller’s checks or cashier’s checks issued by a bank which is a member of the New York Clearing House, or other bank acceptable to Seller, payable in immediately available funds to the order of Seller (or as Seller may direct), or wire funds to separate accounts, aggregating the amount of the Balance, to facilitate the cure and discharge of any Objections or Update Objections and the discharge of Seller’s other monetary obligations under this Agreement, including the payment of real estate transfer taxes. Any Objection or Update Objection shall be deemed resolved to the satisfaction of Purchaser if such Objection or Update Objection is (i) removed as a title exception by Title Company; or (ii) discharged in a manner acceptable to Title Company (including, at Seller’s option, by Seller paying any cost or expense of such removal or discharge).
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Manner of Cure of Objections and Update Objections. Seller may, if Seller so elects pursuant to Section 6.04 or Section 6.06, and Seller shall, if Seller is obligated pursuant to Section 6.07, (i) use any portion of the Balance to cure or discharge any Objection(s) or Update Objection(s) or (ii) deposit with Title Company monies (which may include a portion of the Purchase Price) and/or documents sufficient to effect the issuance of title insurance over any Objection or Update Objection. If written request is made by Seller or Seller’s attorneys at least one Business Day prior to the Closing Date, Purchaser shall wire funds to separate accounts, aggregating the amount of the Balance, to facilitate the cure and discharge of any Objections or Update Objections and the discharge of Seller’s other monetary obligations under this Agreement, including the payment of real estate transfer taxes. Any Objection or Update Objection shall be deemed resolved to the satisfaction of Purchaser if such Objection or Update Objection is (i) removed as a title exception by Title Company; or (ii) discharged in a manner acceptable to Title Company; or (iii) affirmatively insured over by Title Company for the benefit of Purchaser and its mortgagee without cost or expense to Purchaser (including, at Seller’s option, by Seller paying any cost or expense of such removal or discharge or affirmative insurance) and that, in the exercise of reasonable business judgment of Purchaser, does not have a Purchaser Material Adverse Effect.
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Related to Manner of Cure of Objections and Update Objections

  • Title Objections Seller shall request Escrow Agent to cause to be delivered to Buyer a preliminary title report (the "Preliminary Report") from a title company affiliated with the Escrow Agent (the "Title Company"), showing the status of Seller’s title to the Property, together with complete and legible copies of all documents shown therein as exceptions to title ("Exceptions"). Buyer shall have until the date that is five (5) days after the Title Company delivers the Preliminary Report and Exceptions to Buyer within which to give notice in writing to Seller of any objection to such title or to any liens or encumbrances affecting the Property. Within five (5) days after receipt of such notice from Buyer, Seller shall give Buyer written notice of whether it is willing and able to remove the objected-to Exceptions. Without the need for objection by Buyer, Seller shall, with respect to liens and encumbrances that can be satisfied and released by the payment of money, eliminate such exceptions to title on or before Closing. Within five (5) days after receipt of such notice from Seller (the "Title Contingency Date"), Buyer shall elect whether to: (i) purchase the Property subject to those objected-to Exceptions which Seller is not willing or able to remove; or (ii) terminate this Agreement. If Buyer fails to give Seller notice of Buyer’s election, then such inaction shall be deemed to be Buyer’s election to terminate this Agreement. On or before the Closing Date (defined below), Seller shall remove all Exceptions to which Buyer objects and which Seller agrees, or is deemed to have agreed, Seller is willing and able to remove. All remaining Exceptions set forth in the Preliminary Report and those Exceptions caused by or agreed to by Buyer shall be deemed "Permitted Exceptions."

  • Technical Objections to Grievances It is the intent of both parties to this agreement that no grievance shall be defeated merely because of a technical error other than time limitations in processing the grievance through the grievance procedure. To this end an arbitration board shall have the power to allow all necessary amendments to the grievance and the power to waive formal procedural irregularities in the processing of a grievance in order to determine the real matter in dispute and to render a decision according to equitable principles and the justice of the case.

  • Response to Objections Each Party retains the right to respond to any objection raised by a Participating Class Member, including the right to file responsive documents in Court no later than five court days prior to the Final Approval Hearing, or as otherwise ordered or accepted by the Court.