Common use of Remedy for Title Failure Clause in Contracts

Remedy for Title Failure. In the event of any Title Failure (other than any Title Failure where the fair market value of the applicable parcel, determined as provided in clause (v) below, is less than $25,000 (a “Small Title Failure”)), Buyer’s sole and exclusive remedy, subject to Section 1.7, Section 6.2(g) and Section 8.1(e), shall be to adjust the Purchase Price downward by the fair market value of the property subject to such Title Failure as provided in Section 1.6(b)(v) and such Title Failure shall be a Permitted Exception. Nothing in this Section 1.6(b)(ii) is intended to override the condition to Closing contained in Section 6.2(g) or the termination right in Section 8.1(e).

Remedy for Title Failure. In the event of any Title Failure (other than any Title Failure where the fair market value of the applicable parcel, determined as provided in clause (v) below, is less than $25,000 (a “Small Title Failure”)), Buyer’s 's sole and exclusive remedy, subject to Section 1.7, Section 6.2(g) and Section 8.1(e), shall be to adjust the Purchase Price downward by the fair market value of the property subject to such Title Failure as provided in Section 1.6(b)(v) and such Title Failure shall be a Permitted Exception. Nothing in this Section 1.6(b)(ii) is intended to override the condition to Closing contained in Section 6.2(g) or the termination right in Section 8.1(e).