Common use of Remedies for Title Defects Clause in Contracts

Remedies for Title Defects. (a) With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in this Section 4.04 and in Section 4.09, the Purchase Price shall be reduced, subject to Section 4.09, by an amount equal to the Title Defect Value agreed upon in writing by Buyer and Seller acting reasonably.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Energy Xxi (Bermuda) LTD), Purchase and Sale Agreement (Energy Xxi (Bermuda) LTD)

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Remedies for Title Defects. (a) With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in this Section 4.04 and in Section 4.093.05, the Purchase Price shall be reduced, subject to Section 4.09, reduced by an amount equal to the Title Defect Value agreed upon in writing by Buyer and Seller acting reasonablyValue, unless the Parties otherwise agree.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Linn Energy, LLC)

Remedies for Title Defects. Subject to Sections 4.2(c), (ae) With respect to each and (f), in the event that any Title Defect that is not cured on or before the waived by Buyer prior to Closing, except as otherwise provided in this Section 4.04 and in Section 4.09, the Purchase Price shall be reduced, subject to Section 4.09, reduced by an amount equal to the respective Title Defect Value agreed upon in writing by Buyer and Seller acting reasonablyAmount.

Appears in 1 contract

Samples: Purchase and Sale Agreement (PetroShare Corp.)

Remedies for Title Defects. (ai) With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in this Section 4.04 and in Section 4.09, the Purchase Price shall be reduced, subject to Section 4.09, reduced by an amount equal to the Title Defect Value agreed upon in writing by Buyer and Seller Sellers (each acting reasonably.) as being the value of such Title Defect, taking into consideration the Allocated Value of the Property subject to such Title Defect, and the legal effect of such Title Defect on the Property affected thereby (other than in the case of Title Defects described in clause (ii) below, which shall be treated in the manner therein described);

Appears in 1 contract

Samples: Purchase and Sale Agreement (Forest Oil Corp)

Remedies for Title Defects. (a) With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in this Section 4.04 and in Section 4.094.04, the Purchase Price shall be reduced, subject to Section 4.094.13, by an amount equal to the Title Defect Value agreed upon in writing by Buyer and Seller acting reasonably.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Storm Cat Energy CORP)

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Remedies for Title Defects. (a) With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in Section 3.04(b) or this Section 4.04 and in Section 4.093.05, the Purchase Price shall be reduced, subject to Section 4.09, reduced by an amount equal to the Title Defect Value agreed upon in writing by Buyer Purchaser and Seller acting reasonablySeller.

Appears in 1 contract

Samples: Escrow Agreement (Ivanhoe Energy Inc)

Remedies for Title Defects. (a) With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in this Section 4.04 and in Section 4.093.05, the Purchase Price shall be reduced, subject to Section 4.09, reduced by an amount equal to the Title Defect Value agreed upon in writing by Buyer and Seller acting reasonablySeller.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Rancher Energy Corp.)

Remedies for Title Defects. (a) With a)With respect to each Title Defect that is not cured on or before the Closing, except as otherwise provided in this Section 4.04 and in Section 4.093.06, the Purchase Price shall be reduced, subject to Section 4.09, reduced by an amount equal to the Title Defect Value agreed upon in writing by Buyer and Seller acting reasonablythe Seller.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Parsley Energy, Inc.)

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