Exclusion of Affected Asset. At Sellers’ option, an exclusion adjustment may be made in an amount equal to the Allocated Value of the Asset which is the subject of a valid Environmental Notice. In such event Sellers shall retain the Asset and the Base Purchase Price shall be reduced by the Allocated Value of such Asset.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Three Rivers Operating Co Inc.), Purchase and Sale Agreement (Dynamic Offshore Resources, Inc.), Purchase and Sale Agreement (Dynamic Offshore Resources, Inc.)
Exclusion of Affected Asset. At Sellers’ If an Environmental Defect exceeds the Allocated Value of the Asset which is the subject of a valid Environmental Notice, then at Seller’s option, an exclusion adjustment may be made in an amount equal to the Allocated Value of the Asset which is the subject of a valid Environmental Noticesuch Asset. In such event Sellers Seller shall retain the Asset and the Base Purchase Price shall be reduced by the Allocated Value of such Asset.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Halcon Resources Corp)
Exclusion of Affected Asset. At Sellers’ Seller’s option, an exclusion adjustment may be made in an amount equal to the Allocated Value of the Asset which is the subject of a valid Environmental Notice. In such event Sellers Seller shall retain the Asset and the Base Purchase Price shall be reduced by the Allocated Value of such Asset.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Samson Holdings, Inc.)
