Common use of Notice of Title Defects Clause in Contracts

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a), shall be deemed to have been waived by Buyer and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any AssetAsset (each, a “Title Defect Property”), Buyer shall notify Seller of the alleged Title Defect Sellers as promptly as possible possible, but no later than the expiration of the Examination Period, of such alleged Title Defect. To be effective, this such notice (a “Title Defect Notice”) must (i) be in writing; , (ii) be received by Seller Sellers prior to the expiration of the Examination Period; , (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); , (iv) identify the specific Asset or Assets affected by the such Title Defect; , and (v) include the value of the such Title Defect as determined by Buyer. Any Except for Buyer’s rights under the special warranty of title contained in the Assignment, any matters that may otherwise may have constituted constitute Title Defects, but that are of which Sellers have not so described in a timely Title Defect Notice complying and delivered been specifically notified by Buyer in accordance with this Section 4.03(a)the foregoing, shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted EncumbrancesEncumbrances and shall not constitute a Title Defect.

Notice of Title Defects. (a) If Buyer Xxxxx discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a), shall be deemed to have been waived by Buyer and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible Panther reasonably promptly, but no later than the expiration of the Examination Period, of such alleged Title Defect. To be effective, this such notice (a “Title Defect Notice”) must (i) be in writing; , (ii) be received by Seller Panther prior to the expiration of the Examination Period; , (iii) describe the Title Defect in sufficientreasonable detail, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the such Title Defect; , and (v) include the value of the such Title Defect as determined by Buyer (such notice, a “Notice of Defective Interests”). Except as provided in the Warranty Deed and without limiting Buyer. Any ’s rights under Article XIV, any matters that may otherwise may have constituted constitute Title Defects, but that are of which Panther has not so described in a timely Title Defect Notice complying and delivered been specifically notified by Buyer in accordance with this Section 4.03(a)the foregoing, shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller Sellers prior to 5:00 p.m., local time on or before August 31, 2012 (the “Defects Deadline”) of the such alleged Title Defect as promptly as possible but no later than the expiration of the Examination PeriodDefect. To be effective, this such notice (a “Title Defect Defects Notice”) must (i) be in writing; , (ii) be received by Seller Sellers prior to the expiration of the Examination Period; Defects Deadline, (iii) describe the Title Defect in sufficientDefect, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) to the extent applicable, identify the specific Asset or Assets affected by the such Title Defect; , and (v) include the value a good faith estimate of the Defect Value (defined below) of such Title Defect as determined by Buyer. Any matters that may otherwise may have constituted constitute a Title DefectsDefect, but that are of which Sellers have not so described in a timely Title Defect Notice complying and delivered been specifically notified by Buyer in accordance with this Section 4.03(a)the foregoing, shall be deemed to have been waived by Buyer and shall Buyer, except to the extent any unasserted Title Defect would constitute Permitted Encumbrances(A) a breach of the Sellers’ special warranty of title contained in the Assignment, (B) a breach of any of Sellers’ representations or warranties contained in this Agreement, or (C) a Retained Obligation (defined below).

Notice of Title Defects. (a) If Buyer Xxxxx discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller the Sellers of the alleged Title Defect as promptly as possible but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller the Sellers prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific reasonably sufficient detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible reasonably possible, including using its commercially reasonable efforts to provide weekly updates with respect to Title Defects, but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances. The foregoing sentence shall not constitute a waiver of Buyer’s rights under (A) Section 16.04(b) or (B) the special warranty of title contained in the Assignment.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect Defects as promptly as possible possible, but no later than the expiration of the Examination Period. To be effective, this such notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, reasonably-specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any Notwithstanding Buyer’s rights and remedies under this Agreement (including indemnification) for Seller’s breach of its representations and warranties under this Agreement, and subject to the special warranty of title in the Assignment, any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible but no later than prior to the expiration of the Examination PeriodPeriod of such alleged Title Defect. To be effective, this such notice (a “Title Defect Notice”) must (i) be in writing; , (ii) be received by Seller prior to the expiration of the Examination Period; , (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); , (iv) identify the specific Asset or Assets affected by the such Title Defect; , and (v) include the value of the such Title Defect as determined by Buyer. Any matters that may otherwise may have constituted constitute Title Defects, but that are of which Seller has not so described in a timely Title Defect Notice complying and delivered been specifically notified by Buyer in accordance with this Section 4.03(a)the foregoing, shall be deemed to have been waived by Buyer and for all purposes under this Agreement, however, the failure to notify Seller of an undiscovered Title Defect shall constitute Permitted Encumbrancesnot act as a waiver of any breach of the Special Warranty included in the Assignment to be delivered at Closing.

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller Sellers prior to 5:00 p.m., local time on or before December 18, 2012 (the “Defects Deadline”) of the such alleged Title Defect as promptly as possible but no later than the expiration of the Examination PeriodDefect. To be effective, this such notice (a “Title Defect Defects Notice”) must (i) be in writing; , (ii) be received by Seller Sellers prior to the expiration of the Examination Period; Defects Deadline, (iii) describe the Title Defect in sufficientDefect, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) to the extent applicable, identify the specific Asset or Assets affected by the such Title Defect; , and (v) include the value a good faith estimate of the Defect Value (defined below) of such Title Defect as determined by Buyer. Any matters that may otherwise may have constituted constitute a Title DefectsDefect, but that are of which Sellers have not so described in a timely Title Defect Notice complying and delivered been specifically notified by Buyer in accordance with this Section 4.03(a)the foregoing, shall be deemed to have been waived by Buyer and shall Buyer, except to the extent any unasserted Title Defect would constitute Permitted Encumbrances(A) a breach of the Sellers’ special warranty of title contained in the Assignment, (B) a breach of any of Sellers’ representations or warranties contained in this Agreement, or (C) a Retained Obligation (defined below).

Notice of Title Defects. (a) If Buyer discovers any Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) identify the specific Asset or Assets affected by the Title Defect; and (v) include the value of the Title Defect as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in Mid: 010628\000101\905583.7 accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any alleged Title Defect affecting any Asset, Buyer shall notify Seller Sellers of the alleged Title Defect as promptly as possible possible, but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller Sellers prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) include copies of documents necessary for Sellers to verify the existence of the alleged Title Defect, (v) identify the specific Asset or Assets affected by the Title Defect; and (vvi) include the value of the Title Defect Value as determined by Buyer. Any Except as set forth in Section 4.06, any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a)4.04, shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any alleged Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible possible, but no later than the expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) include copies of documents necessary for Seller to verify the existence of the alleged Title Defect, (v) identify the specific Asset or Assets affected by the Title Defect; and (vvi) include the value of the Title Defect Value as determined by Buyer. Any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.

Notice of Title Defects. (a) If Buyer discovers any alleged Title Defect affecting any Asset, Buyer shall notify Seller of the alleged Title Defect as promptly as possible possible, but no later than the {1914556;9} - 16 - expiration of the Examination Period. To be effective, this notice (a “Title Defect Notice”) must (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period; (iii) describe the Title Defect in sufficient, specific detail (including any alleged variance in the Net Revenue Interest or Working Interest); (iv) include copies of documents necessary for Seller to verify the existence of the alleged Title Defect, (v) identify the specific Asset or Assets affected by the Title Defect; and (vvi) include the value of the Title Defect Value as determined by Buyer. Any Except as set forth in Section 4.06, any matters that otherwise may have constituted Title Defects, but that are not so described in a timely Title Defect Notice complying and delivered in accordance with this Section 4.03(a4.04(a), shall be deemed to have been waived by Buyer for all purposes and shall constitute Permitted Encumbrances.