Common use of Title Benefit Notice Clause in Contracts

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.