Title Defect. As used in this Agreement, the term “Title Defect” means any lien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller's representation and warranty in Section 4.1(a). Notwithstanding the foregoing, the following shall not be considered Title Defects:
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Petroleum Development Corp), Purchase and Sale Agreement
Title Defect. As used in this Agreement, the term “Title Defect” means any lien, charge, encumbranceLien, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller's ’s representation and warranty in Section 4.1(a)) and that is not cured by Seller in the manner permitted by this Agreement. Notwithstanding the foregoing, the following shall not be considered Title Defects:
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Kodiak Oil & Gas Corp), Purchase and Sale Agreement
Title Defect. As used in this Agreement, the term “Title Defect” means any lien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller's ’s representation and warranty in Section 4.1(a). Notwithstanding the foregoing, the following shall not be considered Title Defects:
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Delta Petroleum Corp/Co), Purchase and Sale Agreement (Delta Petroleum Corp/Co)
Title Defect. As used in this Agreement, the term “"Title Defect” " means any lien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller's representation and warranty in Section 4.1(a). Notwithstanding the foregoing, the following shall not be considered Title Defects:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Empire Petroleum Corp)
Title Defect. As used in this Agreement, the term “Title Defect” means any lien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller's a Party’s representation and warranty in Section 4.1(a). Notwithstanding the foregoing, the following shall not be considered Title Defects:
Appears in 1 contract
Title Defect. As used in this Agreement, the term “Title Defect” means any lien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a material discrepancy in Net Revenue the net leasehold acreage) that, alone or in combination with other Title Defects, causes Purchaser not to have Defensible Title in and to the Units, Xxxxx, or Leasehold Interest or Working Interest) that causes a breach of Seller's representation shown in Exhibits A and warranty in Section 4.1(a). B. Notwithstanding the foregoing, the following shall not be considered Title Defects:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Ignis Petroleum Group, Inc.)
Title Defect. As used in this Agreement, the term “Title Defect” means any lien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest NRI or Working Interest) that alone or in combination with other defects causes a breach of Seller's representation and warranty in Section 4.1(a)Seller not to have Defensible Title. Notwithstanding the foregoing, the The following shall not be considered excluded from the definition of Title DefectsDefect:
Appears in 1 contract
