Common use of Remedies for Title Defects Clause in Contracts

Remedies for Title Defects. TITLE INCREASES. (a) Seller shall have the right, but not the obligation, to attempt to cure any Title Defect with respect to which it has received notice from Buyer as contemplated in Section 4.3 prior to the Notification Deadline. (b) With respect to any Title Defect for which Seller receives the required notice from Buyer before the Notification Deadline, Seller may, subject to the terms of the last sentence of this Section 4.4(b), elect at Closing from among the following options with respect to Title Defects that remain uncured: 15 21 (i) Seller may elect to exclude the Lease subject to the Title Defect from the sale hereunder, in which event the Purchase Price shall be reduced by the Allocated Value (as defined in Section 4.5) of such Lease; or