Title Benefit Notice Sample Clauses
Title Benefit Notice. Promptly on discovery by Buyer or by any of its Affiliates or its Representatives (including title attorneys, landmen, or other title examiners), but on or before the Title Benefit Notice Date, Buyer shall in good faith notify Seller of any Title Benefits (such notice describing the Title Benefit is an “Title Benefit Notice”). On or before the Title Benefit Notice Date, Seller shall have the right, but not the obligation, to deliver to Buyer a Title Benefit Notice.
Title Benefit Notice. The Title Benefit Notice shall be in writing and contain the following: (i) a reasonably clear, complete and accurate description of the information in the possession of the party providing such notice with respect to the alleged Title Benefit(s), (ii) the Leases, ▇▇▇▇▇ or Units (and the applicable zone(s) therein) affected by the alleged Title Benefit(s), (iii) the Allocated Value of each Lease, Well or Unit (and the applicable zone(s) therein) subject to the alleged Title Benefit(s), (iv) supporting documents reasonably necessary for such other party (as well as any title attorney or examiner hired by such other party) to verify the existence of the alleged Title Benefit(s), and (v) the amount by which the party providing such Title Benefit Notice reasonably believes the Allocated Value of such Leases, ▇▇▇▇▇ or Units (and the applicable zone(s) therein) is increased by the Title Benefit, and the computations and information upon which such belief is based. Seller shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Defect Notice Date.
Title Benefit Notice. If Emerald or K▇▇▇ discovers any Title Benefit, then such Party shall deliver to the other Party, prior to the Defect Notice Date, a notice with respect to such Title Benefit. The notice must be in writing and be asserted in good faith and include (1) a description of the Title Benefit, (2) the Emerald Leases and/or Emerald W▇▇▇▇ affected by the Title Benefit, (3) the Values of the Emerald Leases and/or Emerald W▇▇▇▇ subject to such Title Benefit, and (4) the amount by which Emerald or K▇▇▇, as applicable, reasonably believes the value of those Emerald Leases and/or Emerald W▇▇▇▇ is increased by the Title Benefit, and the computations and information upon which such Party’s belief is based.
Title Benefit Notice. If Transferor or Transferee discovers any Title Benefit, then such Party may (but shall have no obligation to, other than with respect to any Title Benefit discovered by Transferee, with respect to which Transferee shall be obligated to) deliver to the other Party, prior to the Defect Notice Date, a notice with respect to such Title Benefit. The notice must be in writing and be asserted in good faith and include (1) a description of the Title Benefit, (2) the Transferor Leases and/or Transferor W▇▇▇▇ affected by the Title Benefit, (3) the Transferor Allocated Values of the Transferor Leases and/or Transferor W▇▇▇▇ subject to such Title Benefit, and (4) the amount by which Transferor or Transferee, as applicable, reasonably believes the Transferor Allocated Value of those Transferor Leases and/or Transferor W▇▇▇▇ is increased by the Title Benefit, and the computations and information upon which such Party’s belief is based.