Common use of Exclude Property Clause in Contracts

Exclude Property. With respect to each Property as to which Buyer and Seller are unable to agree upon an appropriate adjustment with respect to all such matters affecting such Property or each Property as to which the Asserted Defect amount exceeds an amount properly allocable to such Property based upon the allocated values set forth on Schedule I, or for any other reason set forth by Seller, such Property may be excluded at the option of either Buyer or Seller, from the transaction contemplated hereby, and the Purchase Price will be reduced by an amount properly allocable to such Property based upon the allocated values set forth on Schedule I for the w▇▇▇▇ and PDNP or PUD locations located on such Property plus the amount attributed on Schedule I to the units in which such Property participates (but in the case of such units, limited to the portion of such amount which is proportionate to the portion of Seller's interest in such units, respectively, which is attributable to such Property) (the "Allocated Property Value"); provided, however, if Seller is able to cure such Asserted Defects prior to the Defect Cure Deadline, then Seller shall convey the affected Property to Buyer and Buyer shall pay to Seller the Allocated Property Value for such Property.

Exclude Property. With respect to each Warranted Property as to which Buyer Purchaser and Seller are unable to agree upon an appropriate adjustment with respect to all such matters affecting such Property or each Property as to which the Asserted Defect amount exceeds an amount properly allocable to such Property based upon the allocated values set forth on Schedule I, or for any other reason set forth by SellerWarranted Property, such Warranted Property may will either be subject to Arbitration or, at Seller’s request, be excluded at the option of either Buyer or Seller, from the transaction contemplated hereby. If exclusion is selected by the Seller, and the Purchase Price will be reduced by an the amount properly allocable to such Property based upon attributed on the allocated values set forth on Allocation Schedule I for the w▇▇▇▇ and PDNP number of Lease acres in such Prospect or PUD locations Prospects, or Well(s) located on such Warranted Property plus the amount attributed on the Allocation Schedule I to the units Units and PUD Locations in which such Warranted Property participates (but in the case of such unitsUnits and PUD Locations, limited to the portion of such amount which is proportionate to the portion of Seller's ’s interest in such unitsUnits and PUD Locations, respectively, which is attributable to such Warranted Property). At Seller’s request Purchaser will, within thirty (30) (days of such exclusion and written request for reassignment, reassign the "Allocated Property Value"Lease(s) and Well(s) excluded to Seller. At such point the reassigned Assets will be excluded from the applicable Propsect(s); provided, however, if Seller is able to cure such Asserted Defects prior to the Defect Cure Deadline, then Seller shall convey the affected Property to Buyer and Buyer shall pay to Seller the Allocated Property Value for such Property’ AMI.