Asset. For purposes of the Base Purchase Price adjustment described in Article 7 and 8, a particular “Asset” will be determined pursuant to the Asset description and value set forth on Exhibit “C”. Notwithstanding anything to the contrary herein, the Parties agree that with respect to Leases and Xxxxx that are subject to that certain Pumphouse Project Agreement disclosed on Schedule 2.6, Title Defects shall include any provisions thereunder whereby Seller’s ownership interest in such Xxxxx, and production therefrom, could be assigned or revert to the Selling Parties thereunder (as defined in the Pumphouse Project Agreement), with the same not deemed “Permitted Encumbrances” with respect thereto.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Pedevco Corp)
