Common use of Removal of Unpermitted Exceptions Clause in Contracts

Removal of Unpermitted Exceptions. Seller shall have no obligation to cure any Title Exceptions or Survey Defects other than the Monetary Defects and Unpermitted Exceptions as set forth in the Title and Survey Side Letter. Seller may cure any Unpermitted Exception relating to the Property by removing the Unpermitted Exception from title to the Property or causing the Title Company to commit to remove or insure over the Unpermitted Exception in the Title Policy at any time prior to or at the Closing.

Appears in 2 contracts

Sources: Master Purchase and Sale Agreement (Hersha Hospitality Trust), Master Purchase and Sale Agreement (Hersha Hospitality Trust)

Removal of Unpermitted Exceptions. Seller shall have no obligation to cure any Title Exceptions or Survey Defects other than the Monetary Defects and Unpermitted Exceptions as set forth in the Title and Survey Side LetterExceptions. Seller may cure any Unpermitted Exception relating to the Property by removing the such Unpermitted Exception from title title, causing the Title Company to omit such Unpermitted Exception from the Property Title Policy, or causing the Title Company to commit provide affirmative coverage with respect to remove or insure over the such Unpermitted Exception in the Title Policy or collection thereof (other than for Monetary Encumbrances), at any time prior to or at the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Braemar Hotels & Resorts Inc.)