Transfer of Title to the Property Sample Clauses

The "Transfer of Title to the Property" clause defines the process and conditions under which legal ownership of a property is formally passed from the seller to the buyer. Typically, this clause specifies the timing of the title transfer, such as upon closing or fulfillment of certain conditions, and may outline requirements like delivery of a deed or payment of the purchase price. Its core function is to ensure both parties understand when and how ownership changes hands, thereby preventing disputes and providing legal certainty regarding property rights.
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Transfer of Title to the Property. (a) At the Closing, Seller shall convey to Buyer title to the Real Property, the Appurtenances and the Improvements by duly executed and acknowledged special warranty deed in the form attached hereto as Exhibit D (the “Deed”). Evidence of delivery of title shall be the issuance by Title Company to Buyer of a Texas standard coverage (Form T-1) Owner’s Policy of Title Insurance in the amount of the Purchase Price, insuring fee simple title to the Real Property, Appurtenances and the Improvements in Buyer subject only to the Permitted Exceptions (as defined below) or exceptions otherwise caused or approved in writing (or deemed approved) by Buyer in the form of, and containing such endorsements as included in, the Pro Forma issued by the Title Company during the Due Diligence Period (the “Title Policy”). (b) At the Closing, Seller shall transfer all of Seller’s right, title and interest in and to any Personalty by a ▇▇▇▇ of Sale in the form attached hereto as Exhibit E (the “▇▇▇▇ of Sale”). (c) At the Closing, Seller shall transfer all of Seller’s right, title and interest in and to any Intangible Property (other than the Lease) by an Assignment of Intangible Property in the form attached hereto as Exhibit F (the “Assignment of Intangible Property”). (d) At the Closing, Seller shall assign to Buyer all of Seller’s right, title and interest in and to the Lease and Buyer shall assume all of Seller’s obligations under the Lease, by an Assignment and Assumption of Lease in the form attached hereto as Exhibit G (the “Assignment and Assumption of Lease”).
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Transfer of Title to the Property. (a) At the Closing, Seller shall convey to Buyer title to the Real Property, the Appurtenances and the Improvements, by duly executed and acknowledged limited warranty or covenant deed in the form attached hereto as Exhibit D (the “Deed”). At the Closing, Seller shall convey title to the Property, subject to no liens, encumbrances, claims, demands, security interests, options, purchase agreements, mortgages, pledges, leases, conditional sales or other title retention agreements, exceptions, or restrictions of any kind or nature whatsoever (collective, “Encumbrances”) other than the Permitted Encumbrances, as hereinafter defined. “Permitted Encumbrances” means any Encumbrances identified on the Title Commitment attached hereto as Exhibit E (the “Title Commitment”) and shown on the Survey, and matters which arise subsequent to the date of the Title Commitment that are disclosed in writing to Buyer are not objected to by Buyer at least five (5) business days prior to the expiration of the Due Diligence Period (in each case meeting all of the requirements of this Agreement applicable thereto). Evidence of delivery of title shall be the issuance by Title Company to Buyer of an ALTA owners title insurance policy for the Purchase Price on Title Company’s current form insuring fee ownership of the Real Property in Buyer subject to the Permitted Exceptions and such exceptions as are approved or waived by Buyer pursuant to Section 4(c) herein, with the standard exceptions deleted and including the following endorsements: zoning, access, survey, flood plain certification and comprehensive (ALTA 9.2) (collectively, the “Title Policy”).
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Related to Transfer of Title to the Property

  • Transfer of Title Each party agrees that all right, title and interest in and to any Eligible Credit Support, Equivalent Credit Support, Equivalent Distributions or Interest Amount which it transfers to the other party under the terms of this Annex shall vest in the recipient free and clear of any liens, claims, charges or encumbrances or any other interest of the transferring party or of any third person (other than a lien routinely imposed on all securities in a relevant clearance system).

  • Title to the Property Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons.

  • Defense of Title to Collateral Each Borrower shall at all times defend its title to Collateral and Agent’s Liens therein against all Persons, claims and demands whatsoever, except Permitted Liens.

  • Transfer of the Property Any sale, lease, conveyance, assignment, pledge, encumbrance, or transfer of all or any part of the Property or any interest therein, voluntarily or involuntarily, whether by operation of law or otherwise, except: (i) sales or transfers of items of the Accessories which have become obsolete or worn beyond practical use and which have been replaced by adequate substitutes, owned by Mortgagor, having a value equal to or greater than the replaced items when new; and (ii) the grant, in the ordinary course of business, of a leasehold interest in a part of the Improvements to a tenant for occupancy, not containing a right or option to purchase and not in contravention of any provision of this Mortgage or of any other Loan Document. Mortgagee may, in its sole discretion, waive a default under this paragraph, but it shall have no obligation to do so, and any waiver may be conditioned upon such one or more of the following (if any) which Mortgagee may require: the grantee’s integrity, reputation, character, creditworthiness and management ability being satisfactory to Mortgagee in its sole judgment and grantee executing, prior to such sale or transfer, a written assumption agreement containing such terms as Mortgagee may require, a principal paydown on the Note, an increase in the rate of interest payable under the Note, a transfer fee, a modification of the term of the Note, and any other modification of the Loan Documents which Mortgagee may require. NOTICE - THE DEBT SECURED HEREBY IS SUBJECT TO CALL IN FULL IN THE EVENT OF SALE OR CONVEYANCE OF THE PROPERTY CONVEYED.

  • Passage of Title 9.7.1 The ownership and title to the Goods and any part thereof shall fully pass to ISR free and clear of all security interests, liens, attachment, encumbrances and any other rights or claims of any kind of any third party, upon the date of issuance by ISR of the Final Acceptance Certificate for each of the Goods at ISR Site. The passing of title to ISR and the vesting of ownership rights shall be without prejudice to any right that may accrue to ISR under this Agreement. 9.7.2 ISR shall bear no responsibility for any Works performed or materials, components or equipment used by Supplier or deposited with any Subcontractor, including such materials, equipment or Works being stored or that have been placed at any Site and which are lost, stolen, damaged, destroyed or otherwise fail prior to Acceptance Certificate. Supplier shall be solely responsible to protect completely and preserve entirely the Goods and any related Works, components, material and equipment until the Acceptance.