Preliminary Commitment definition

Preliminary Commitment shall have the meaning set forth in Subsection 11.2.1.
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Preliminary Commitment has the meaning Section 5.1(a) specifies.
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Preliminary Commitment means that certain Preliminary Title Report dated September 15, 2017, Order No.: 25735, issued by Land Title Company of Grant County, Inc., which title reports identifies the condition of title to the Real Property.
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Examples of Preliminary Commitment in a sentence

  • Prior to closing, Seller, through Seller’s title insurance agency and at Seller’s expense, shall provide Buyer with a Preliminary Commitment for Title Insurance (“Preliminary Commitment”) relating to the Property.

  • If the non-defaulting Party elects to terminate this Agreement, all documents will be immediately returned to the Party who deposited them, and neither Party will have any further rights or obligations under this Agreement, except as otherwise provided in this Agreement, other than that the defaulting Party shall pay any costs of terminating the escrow and any cancellation fee for the Preliminary Commitment.

  • It is agreed that Buyer shall notify Seller, in writing, within FIFTEEN (15) DAYS of the date of the Preliminary Commitment specifying any defect(s) in title.

  • On or before the fifth (5th) day following the Effective Date, Seller shall deliver to Buyer a preliminary commitment for title insurance issued by Title Company (the “Preliminary Commitment”), along with all documents, whether recorded or unrecorded, referred to in the Preliminary Commitment (“Title Documents”).

  • If no legal description is attached, then the legal description of the Property shall be as contained in the Preliminary Commitment (defined in Section 5), subject to Buyer’s and Seller’s reasonable approval.

  • Buyer shall have until five (5) days following Buyer’s receipt of the Preliminary Commitment and the Title Documents to give Seller written notice of Buyer’s disapproval of any condition or exception to title affecting the Property (“Buyer’s Title Notice”).

  • Within twenty (20) days from the Effective Date, the Port, at its sole cost, shall provide the City with a preliminary commitment for an ALTA owner’s standard coverage policy of title insurance covering the Property (the “Preliminary Commitment”), issued by the Chicago Title Insurance Company (the “Title Company”), together with complete legible copies of all documents referenced in the Preliminary Commitment.

  • The City shall, within thirty (30) days after receiving the Preliminary Commitment, deliver written notice to the Port regarding any objections the City may have to matters shown on or referenced in the Preliminary Commitment or identified in Exhibit C relating to Third Party Leases, Licenses and Contracts, as defined in Section 9.1 below (the “Title Objection Notice”).

  • A statutory warranty deed, duly executed and acknowledged in recordable form by the Seller, conveying the Property to the Buyer subject only to nondelinquent property taxes, items , , , , and of the Preliminary Commitment, and other matters that may be approved in writing by the Buyer.

  • All remaining exceptions set forth in the Preliminary Commitment and agreed to by Buyer shall be "Permitted Exceptions." The title insurance policy to be delivered by Seller to Buyer at closing shall contain no exceptions other than the Permitted Exceptions and the usual preprinted exceptions in an owner's standard form title insurance policy.


More Definitions of Preliminary Commitment

Preliminary Commitment has the meaning set forth in Section 6.02(e).
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Related to Preliminary Commitment

  • Undrawn Commitment means, with respect to any Revolving Lender at any time, an amount (which may not be less than zero) equal to (i) such Lender’s Revolving Commitment at such time minus (ii) the aggregate outstanding principal amount of Revolving Loans held by such Revolving Lender at such time.

  • Ancillary Commitment means, in relation to an Ancillary Lender and an Ancillary Facility, the maximum Base Currency Amount which that Ancillary Lender has agreed (whether or not subject to satisfaction of conditions precedent) to make available from time to time under an Ancillary Facility and which has been authorised as such under Clause 7 (Ancillary Facilities), to the extent that amount is not cancelled or reduced under this Agreement or the Ancillary Documents relating to that Ancillary Facility.

  • Initial Commitment means, for any Initial Lender, the obligation of such Initial Lender to make an Initial Loan hereunder, up to the principal amount shown on Schedule 1.01(a). The aggregate amount of the Initial Lenders’ Initial Commitments as of the Closing Date is $150,000,000.

  • Additional Commitment means any commitment hereunder added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Total Loan Commitment means an amount equal to the aggregate amount of all Loan Commitments.