Common use of Removal of New Exceptions Clause in Contracts

Removal of New Exceptions. As used in this Agreement the term “Remove” means that Seller in its discretion and at its sole cost and expense will either (i) take such actions as are necessary to eliminate (of record or otherwise, as appropriate) the New Exception, (ii) cause the Title Company to remove the New Exception (as applicable) as an exception to the owner’s policy of title insurance and affirmatively insure against the same, 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 (iii) deliver its own funds to the Title Company with instructions for the Title Company to apply such funds to discharge fully the New Exception , together with such instruments, in recordable form, as are necessary to enable the Title Company to discharge the New Exception of record and funds necessary to cover the fees and expenses of the Title Company for discharging the claim and recording or filing such instruments.

Removal of New Exceptions. As used in this Agreement the term Agreement, “Remove” means shall mean that Seller in its discretion and at its sole cost and expense will either (i) take such actions as are necessary to eliminate (of record or otherwise, as appropriate) the New Exception, (ii) cause the Title Company to remove the New Exception (as applicable) as an exception to the owner’s policy of title insurance Title Policy and affirmatively insure against the same, 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, which in each case must be in a manner reasonably acceptable to Purchaser, or (iii) deliver its own funds to the Title Company with instructions for the Title Company to apply such funds to discharge fully the New Exception Exception, together with such instruments, in recordable form, as are necessary to enable the Title Company to discharge the New Exception of record and funds necessary to cover the fees and expenses of the Title Company for discharging the claim and recording or filing such instruments.