Remedies for Title Benefits. (a) If, prior to the Notification Date, Seller or Buyer discovers any Title Benefit affecting the Assets, such Party shall promptly notify the other Party in writing thereof. Subject to Section 4.14, Seller shall be entitled to an upward adjustment to the Purchase Price with respect to all Title Benefits in an amount (the “Title Benefit Value”) determined in accordance with the formula provided for in this Section 4.08(a). The term “
Appears in 7 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
Remedies for Title Benefits. (a) If, prior to the Notification Date, Seller or Buyer If either Party discovers any Title Benefit during the Examination Period affecting the Assets, such Party it shall promptly notify the other Party in writing thereofthereof on or before the expiration of the Examination Period. Subject to Section 4.143.05, Seller shall be entitled to an upward adjustment to the Purchase Price pursuant to Section 10.02(a)(i) with respect to all Title Benefits Benefits, in an amount (mutually agreed upon by the “Title Benefit Value”) determined in accordance with Parties. For purposes of this Agreement, the formula provided for in this Section 4.08(a). The term “"
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Legacy Reserves L P), Purchase and Sale Agreement (Legacy Reserves L P)
Remedies for Title Benefits. (a) If, prior to the Notification Date, Seller or Buyer discovers obtains Knowledge of any Title Benefit affecting the Assets, such Party shall promptly notify the other Party in writing thereof. Subject to Section 4.14, Seller shall be entitled to an upward adjustment to the Purchase Price with respect to all Title Benefits in an amount (the “Title Benefit Value”) determined in accordance with the formula provided for in this Section 4.08(a). The term “
Appears in 1 contract
Remedies for Title Benefits. (a) If, prior to the Notification Date, Seller or Buyer discovers obtains knowledge of any Title Benefit affecting the Assets, such Party shall promptly notify the other Party in writing thereof. Subject to Section 4.14, Seller shall not be entitled to an upward adjustment to the Purchase Price with respect to all any Title Benefits; provided, Title Benefits in an amount (the “qualifying for adjustment pursuant to Section 4.13 shall be offset against Title Benefit Value”) determined in accordance with the formula provided Defects qualifying for in this Section 4.08(a)adjustment pursuant to ARTICLE 4 hereof. The term “
Appears in 1 contract
