Title Investigation Sample Clauses

Title Investigation. (1) Each Purchaser shall be allowed until 6:00 p.m. on the 10th day prior to the Closing Date (the “Requisition Date”) to examine the title to the Parcel at its own expense and to satisfy itself that there are no outstanding work orders or deficiency notices affecting the Parcel, and that its intended use will be lawful. The Vendor hereby consents to the municipality or other governmental agencies releasing to Purchaser details of all outstanding work orders and deficiency notices affecting the Parcel, and Vendor agrees to execute and deliver such further authorizations in this regard as Purchaser may reasonably require. Provided that the title to the Parcel is good and free from all registered restrictions, charges, liens, and encumbrances except as otherwise specifically provided in this Agreement and save and except for (a) any registered restrictions or covenants that run with the land providing that such are complied with; (b) any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been posted to ensure compliance and completion, as evidenced by a letter from the relevant municipality or regulated utility; (c) any minor easements for the supply of domestic utility or telephone services to the property or adjacent properties; and (d) any easements for drainage, storm or sanitary sewers, public utility lines, telephone lines, cable television lines or other services which do not materially affect the use of the property (all of which are “Permitted Encumbrances”). If within the specified times referred to in this paragraph 3.3 any valid objection to title or to any outstanding work order or deficiency notice is made in writing to Vendor and which Vendor is unable or unwilling to remove, remedy or satisfy or obtain insurance (Title Insurance) in favour of the Purchaser and any mortgagee, (with all related costs at the expense of the Vendor), and which Purchaser will not waive, this Agreement notwithstanding any intermediate acts or negotiations in respect of such objections, shall be at an end and all monies paid shall be returned without interest or deduction and Vendor shall not be liable for any costs or damages. Save as to any valid objection so made by such day and except for any objection going to the root of the title, Purchaser shall be conclusively deemed to have accepted Vendor’s title to the property.

Title Investigation. Each Chargor shall: (a) grant the Collateral Agent and its lawyers all facilities within the power of that Chargor to carry out investigations of title in respect of any Real Property and to make such enquiries in relation to any Real Property as a prudent mortgagee might carry out; and (b) as soon as practicable following a request by the Collateral Agent, supply a report as to the title of that Chargor in respect of any of its Real Property in relation to those matters which might properly be sought to be covered by a prudent mortgagee in a report of that nature.

Title Investigation. The Vendors shall forthwith deliver or make available to the Purchaser the following, to the extent the same are in the possession of the Vendors or the Corporation: (a) the title deeds relating to the Real Property and all title opinions and title insurance policies relating to the Real Property; and (b) any surveys, site plans, approved plans pursuant to which building permits were issued to allow development of the Real Property, architectural and engineering specifications, operating plans, CAD disks and drawings of any buildings or other structures located on the Real Property. The Purchaser shall be entitled to investigate and satisfy itself whether title of the Real Property is and will be on closing be good and marketable title in fee simple and free from all Encumbrances, except for Permitted Encumbrances, and the Vendor, the Corporation and the Subsidiaries shall co-operate in all respects with removing or correcting any valid objection to title that is made by the Purchaser.

Title Investigation. Purchaser will, at Purchaser’s sole expense and within thirty (30) days after the date of this Agreement, take all actions necessary to investigate to Purchaser’s satisfaction title to the Real Estate. In the event that Purchaser’s investigation of the title to the Real Estate does not satisfy Purchaser, in Purchaser’s reasonable discretion, that Seller has good and marketable title to the Real Estate, free and clear of all Liens, except with respect to (i) easements and encumbrances of record which do not adversely affect the use of the Real Estate as a bank branch and (ii) any mortgages or other monetary liens upon the Real Estate, which will be discharged by Seller at the time of Closing (collectively, (i) and (ii) are “Permitted Encumbrances”), then Purchaser will provide written notice to Seller within thirty (30) days after the date of this Agreement of such lack of satisfaction and its decision to terminate this Agreement without penalty. If no notice is received by Seller within such thirty (30) day period, Purchaser shall have no further rights under this Section 3.02(c). Seller will have no liability or obligation to Purchaser for breach of any provision of this Agreement arising from failure of title to the Real Estate to satisfy Purchaser to the extent of any defect, lien or encumbrance that exists at the time of such investigation of the title to the Real Estate, whether or not Purchaser terminates the Agreement or proceeds with the Acquisition.