Common use of Reversions Clause in Contracts

Reversions. An Asset is subject to reduction by the exercise by a third-party of a reversionary, back-in, or other similar right not reflected on Exhibit “C” or not reflected in any materials received by Buyer prior to the date hereof. provided, however, that no Title Defect may be asserted by Buyer with respect to any Asset operated or to be operated by Buyer or its Affiliates where Buyer (1) as of the Execution Date of this Agreement is in possession of an attorney’s title opinion covering such Asset, and (2) the net acres of such Asset, as of the last day of the Due Diligence Period, as represented by Seller equal the number of net acres for such Asset as set forth in said title opinion in Buyer’s possession covering such Asset.