Title Binders Clause Samples

A Title Binders clause establishes the use of a temporary title insurance policy, known as a binder, to provide interim coverage for a property buyer or lender until a formal title insurance policy is issued. In practice, this clause allows parties to proceed with a real estate transaction while the final title search and policy preparation are still underway, ensuring that the interests of the buyer or lender are protected against title defects during this interim period. The core function of this clause is to facilitate smooth and timely closings by bridging the gap between contract signing and the issuance of permanent title insurance, thereby reducing delays and mitigating risk during the transaction process.
Title Binders. 22 Section 4.5 Bankruptcy Court Matters . . . . . . . . . . . . . . . . . . . . . 22
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Title Binders. Seller shall provide Buyer with an ALTA survey of the Real Property Interests meeting the requirements set forth on Schedule 4.4 to this Agreement and commitments for title insurance issued by such title company as may be reasonably designated by Buyer showing good and marketable title to the Real Property Interests in Seller, and committing to issue an owner's title insurance policy (ALTA) (the "Title Policy") to Buyer in amounts reasonably determined by Buyer with extended coverage subject only to Liens and Permitted Exceptions (the "Title Binders").
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Title Binders. Seller shall obtain, at its expense, commitments for title insurance issued by such title company as may be designated by Buyer showing good and marketable title to the Real Property Interests in Seller, and cause to be issued, at its expense, an
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Title Binders. (a) As soon as reasonably practicable (but in no event later than the earlier of (i) forty-five (45) days following the date of this Agreement, or (ii) the forty-fifth (45th) day prior to Closing), Sellers will deliver to the Purchaser a title commitment (each, a “Binder”) covering each tract of the Company Real Estate and binding the Title Company to issue an ALTA Owner’s Policy of Title Insurance (the “ALTA Policy”) insuring title to such tract. The amount of the ALTA Policy shall be equal to the amount of the purchase price allocated to the Company Real Estate as determined pursuant to Section 1.06. At the same time as any Binder is delivered to Purchaser, or as soon as reasonably practicable thereafter, Sellers will deliver to Purchaser true, correct and legible copies of any and all instruments referred to in such Binder as constituting exceptions or restrictions upon the title covered thereby. (b) Any exceptions set forth in any Binder or Survey and not objected to by Purchaser within twenty (20) days of its receipt of such Binder (together with copies of all available documents listed in such Binder and the Survey for the property covered by such Binder), shall be Permitted Exceptions hereunder. If Purchaser notifies the Sellers in writing of any such objections (the “Objections”) within such twenty (20) day period, then, within ten (10) days after Sellers’ receipt of such notice from Purchaser, the Sellers shall notify Purchaser in writing (the “Sellers’ Title Response Notice”) of the Objections which Sellers agree to satisfy at or prior to the Closing (at the Sellers’ sole cost and expense) and of the Objections that the Sellers cannot or will not satisfy. Anything in this Agreement to the contrary notwithstanding, the Sellers shall only be obligated to cure (i) those Objections that are mortgages placed against the Company Real Estate by the Sellers (or any of their respective affiliates), (ii) encumbrances that have been voluntarily placed against the Company Real Estate by the Sellers after the date of this Agreement and before the Closing Date, and (iii) monetary judgments against the Sellers which constitute Liens on the Company Real Estate (collectively the “Required Objections”). If the Sellers choose not to satisfy all or any of the Objections that are not Required Objections (any such Objection that will not be satisfied, an “Unsatisfied Objection”), Sellers shall notify Purchaser thereof within the applicable ten (10) day period. If any ...
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Title Binders. 36 Section 9.2
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Title Binders. 25 7.5.1 Talisman Real Property.................................................................25 7.6. Transferor's Real Property......................................................................25 7.7. Environmental Matters...........................................................................26 7.7.1 Talisman Real Property.................................................................26 7.7.2 Transferor's Real Property.............................................................27 7.8. Indemnification by Talisman and St. Joe.........................................................29 8. Conditions Precedent to Closing..........................................................................31 8.1. Talisman Conditions Precedent...................................................................31 8.2. District, TNC and DOI Conditions Precedent......................................................32 8.3. Transferor Conditions Precedent.................................................................33 8.4. Obligations to Complete Conditions Precedent....................................................34 8.5. Failure of Conditions Precedent.................................................................34
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Related to Title Binders

  • Title Matters Seller agrees to share equally with Buyer the closing costs and the cost of a title insurance company's commitment for and policy of title insurance. Buyer shall pay for any lender’s/mortgagee’s/instrument holder’s title insurance coverage. The title insurance company will furnish a copy of the commitment for title insurance and copies of all of the exception documents referred to therein (hereafter collectively referred to as the “Title Commitment”) to Seller, Buyer, Buyer’s lender and the listing/selling broker as promptly as possible. The Title Commitment shall show a merchantable title vested in Seller, subject to easements, restrictions and protective covenants of record, right-of-way’s, setbacks, tenant rights, trees, fences, ordinances and regulations, unmatured and future assessments, restrictions and protective covenants of record, provided no forfeiture provisions as contained therein, encroachments and overlaps, zoning laws, ordinances and regulations, those exceptions which are standard to a policy of title insurance in the State of Kansas or as specified herein, and those matters attaching to the title by reason of Buyer taking title to the real property. Buyer shall have a period of five (5) days following receipt of the Title Commitment (the “Objection Period”) in which to examine the Title Commitment and advise Seller in writing of any objections ("Title Objections") the Buyer may have to Seller's title as shown in the Title Commitment. Seller shall then have a period of five (5) days in which to notify Buyer in writing of those Title Objections it elects to cure. In the event Seller elects to cure less than all of the Title Objections, Buyer shall have the right to terminate this Agreement by giving Seller written notice thereof within five (5) days of its receipt of Seller's notice, in which case the ▇▇▇▇▇▇▇ Money shall be returned to Buyer, and thereafter neither party shall have any further obligation hereunder. In the event Buyer does not terminate this Agreement, Seller shall have until Closing ("Cure Period") in which to cure the Title Objections the Seller has elected to cure, which the Buyer Agrees to extend for an additional 45 days in the event Seller has initiated a lawsuit to cure the title objection or objections. Title Objections may also be cured in accordance with applicable current titled standards in the Kansas Title Standards Handbook.

  • Title Documents Title Documents consist of the following: (1) copies of any plats, declarations, covenants, conditions and restrictions burdening the Property, and (2) copies of any other documents (or, if illegible, summaries of such documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title Documents).

  • Title Commitment (a) Purchaser has ordered a title insurance commitment with respect to the Real Property issued, by the Title Company (the “Title Commitment”). On or before July 25, 2013, Purchaser shall provide to Seller the Title Commitment, together with legible copies of the title exceptions listed thereon. On or before August 8, 2013 (the “Title Objection Date”), Purchaser shall notify Seller in writing, if there are (i) any monetary liens or other title exceptions that Purchaser objects to (“Title Objections”) or (ii) any Survey Objection. In the event Seller does not receive written notice of any Title Objections or Survey Objection by the Title Objection Date, TIME BEING OF THE ESSENCE, then Purchaser will be deemed to have accepted or waived such exceptions to title set forth on the Title Commitment as permitted exceptions (as accepted or waived by Purchaser, the “Permitted Exceptions”) and shall be deemed to have waived its right to object to any Survey Objection. (b) After the Title Objection Date, if the Title Company raises any new exception to title to the Real Property, Purchaser’s counsel shall have five (5) Business Days after he or she receives notice of such exception (the “New Objection Date”) (or as promptly as possible prior to the Closing if such notice is received with less than five (5) Business Days prior to the Closing), to provide Seller with written notice if such exception constitutes a Title Objection. In the event Seller does not receive notice of such Title Objection by the New Objection Date, Purchaser will be deemed to have accepted the exceptions to title set forth on any updates to the Title Commitment as Permitted Exceptions. (c) All taxes, water rates or charges, sewer rents and assessments, plus interest and penalties thereon, which on the Closing Date are liens against the Real Property and which Seller is obligated to pay and discharge will be credited against the Purchase Price (subject to the provision for apportionment of taxes, water rates and sewer rents herein contained) and shall not be deemed a Title Objection. If on the Closing Date there shall be security interests filed against the Real Property, such items shall not be Title Objections if (i) the personal property covered by such security interests are no longer in or on the Real Property, or (ii) such personal property is the property of a Tenant, and Seller executes and delivers an affidavit to such effect, or the security interest was filed more than five (5) year prior to the Closing Date and was not renewed. (d) If on the Closing Date the Real Property shall be affected by any lien which, pursuant to the provisions of this Agreement, is required to be discharged or satisfied by Seller, Seller shall not be required to discharge or satisfy the same of record provided the money necessary to satisfy the lien is retained by the Title Company at Closing, and the Title Company either omits the lien as an exception from the title insurance commitment or insures against collection thereof from out of the Real Property, and a credit is given to Purchaser for the recording charges for a satisfaction or discharge of such lien. (e) No franchise, transfer, inheritance, income, corporate or other tax open, levied or imposed against Seller or any former owner of the Property, that may be a lien against the Property on the Closing Date, shall be an objection to title if the Title Company insures against collection thereof from or out of the Real Property and/or the Improvements, and provided further that Seller deposits with the Title Company a sum of money or a parental guaranty reasonably acceptable to the Title Company and sufficient to secure a release of the Property from the lien thereof. If a search of title discloses judgments, bankruptcies, or other returns against other persons having names the same as or similar to that of Seller, Seller will deliver to Purchaser an affidavit stating that such judgments, bankruptcies or other returns do not apply to Seller, and such search results shall not be deemed Title Objections.

  • Title Exceptions To the best of Borrower’s knowledge after due inquiry and investigation, none of the items shown in the schedule of exceptions to coverage in the title policy issued to and accepted by Lender contemporaneously with the execution of this Loan Agreement and insuring Lender’s interest in the Mortgaged Property will have a Material Adverse Effect on the (a) ability of Borrower to pay the Loan in full, (b) ability of Borrower to use all or any part of the Mortgaged Property in the manner in which the Mortgaged Property is being used on the Closing Date, except as set forth in Section 6.03, (c) operation of the Mortgaged Property, or (d) value of the Mortgaged Property.

  • Title Report Seller has delivered to Buyer a copy of a preliminary title report ("PRELIMINARY TITLE REPORT") order number 01014685 dated August 9, 1996 covering the Property from Central Valley Title Company, as agent for S▇▇▇▇▇▇ Title Guaranty Company (which company, in its capacity as title insurer hereunder, is herein called the "TITLE COMPANY"). In addition, Seller has delivered to Buyer a copy of a survey of the Property dated March 26, 1996, prepared by Siegfried Engineering, which survey shall be certified to Buyer ("SURVEY"). Buyer has approved the exceptions to title shown on the Preliminary Title Report and the matters disclosed on the Survey. Approval by Buyer of any additional exceptions to title or survey matters disclosed after the date hereof shall be a condition precedent to Buyer's obligation to purchase the Property (Buyer hereby agreeing that its approval of such matters shall not be unreasonably withheld). Unless Buyer gives written notice that it disapproves any such additional exceptions to title or survey matters, stating the exceptions so disapproved, on or before the sooner to occur of 10 days after receipt of written notice thereof or the Closing Date, Buyer shall be deemed to have approved said exceptions or survey matters. If, for any reason, on or before the Closing Date Seller does not cause such exceptions to title or survey matters which Buyer disapproves (to the extent Buyer is permitted hereunder to so disapprove) to be removed at no cost or expense to Buyer (Seller having the right but not the obligation to do so), the obligation of Seller to sell, and Buyer to buy, the Property as herein provided shall terminate in accordance with paragraph 9 hereof. Notwithstanding anything to the contrary contained in this Agreement, Seller shall be obligated to remove (or cause the Title Company to affirmatively insure over) at Seller's expense: (i) any deeds of trust securing any financing obtained by Seller (other than Bond Documents), (ii) any mechanic's or materialmen's liens for work done by or on behalf of Seller, and (iii) any tax or judgment liens against Seller. Buyer shall have the option to waive the condition precedent set forth in this paragraph 4A(1) by notice to Seller. In the event of such waiver, such condition shall be deemed satisfied.