Title Disputes. If Vendor disagrees, acting reasonably, with the existence of Title Defects, or the value or values allocated by Purchaser to the Title Defects, Vendor shall have the sole option to terminate this Agreement by written notice to Purchaser, or to delay Closing and refer the matter in dispute to arbitration. If Vendor elects to delay Closing and refer the matter in dispute to arbitration, the Parties shall forthwith meet in good faith to discuss the issue. If after such a meeting the issue has not been resolved or if a Party does not forthwith meet to discuss the issue, the issue shall be resolved by a single arbitrator pursuant to the provisions of the Arbitration Act (Alberta). The decision of the arbitrator shall be final and shall not be subject to review. All costs of arbitration shall be borne by the Parties equally. The arbitrator will be asked to render a decision within thirty (30) days of being presented with its instructions as to the arbitration.
Title Disputes. (a) Seller and Purchaser shall use good faith efforts to agree prior to and after Closing on the interpretation and effect of this Article 6 and the validity, existence and determination of all Title Benefits, Title Benefit Amounts, Title Defects and Title Defect Amounts (and/or the cure thereof) (each, a “Title Dispute”).
Title Disputes. Any dispute between American and Enerplus concerning the existence, nature or extent of a Title Defect, the Title Defect Value, or the adequacy of curative work performed in respect of such Title Defect shall be resolved as provided in Section 14.8, below.
Title Disputes. Notwithstanding the dates set forth in this Agreement for the incurring of any Expenditures by Inco or the giving of any notices, if Owner's ownership of any or the Mineral Rights is disputed by proceedings in any court, then the period of time within which Inco is required to make any Expenditures or give any notification hereunder shall be automatically extended by the period of time between the commencement of any such proceedings and ten (10) days after the final termination of any such proceedings in a court of final resort from which no appeal can be taken by any party involved therein. Similarly, all time periods and dates subsequent. to such extended period shall be adjusted to take into account the extension and delay arising out of such dispute. Owner shall be responsible for resolving any such proceedings; however, Inco shall co-operate with Owner, at Owner's expense, in the defense and resolution of such proceedings.
Title Disputes. Notwithstanding the dates set forth in this Agreement for the incurring of any Expenditures by PDC or the giving of any notices, if UPC's ownership of any of the Properties is disputed by proceedings in any court, then the period of time within which PDC is required to make any Expenditures or give any notification hereunder shall be automatically extended by the period of time between the commencement of any such proceedings and ten (10) days after the final termination of any such proceedings in a court of final resort from which no appeal can be taken by any party involved therein. Similarly, all time periods and dates subsequent to such extended period shall be adjusted to take into account the extension and delay arising out of such dispute. UPC shall be responsible for resolving any such proceedings; however, PDC shall co-operate with UPC, at UPC's expense, in the defence and resolution of such proceedings.
Title Disputes. (a) Sellers and Purchasers shall use good faith efforts to agree prior to the Closing on the interpretation and effect of this Article 3 and the validity and determination of all Title Benefits, Title Benefit Amounts, Title Defects, and Defect Amounts (or the cure thereof). If Sellers and Purchasers are unable to agree on the scope, interpretation and effect of this Article 3, the existence, cure or amount of any Title Benefits, Title Benefit Amounts, Title Defects or Defect Amounts, the presence or absence of any Mineral Interest on Exhibit A-1, the presence or absence of any Well on Exhibit A-2, the Allocated Value of any Mineral Interest or Well, or any other matter related to title to the Mineral Interests or Xxxxx by the Closing Date, all such disputed interpretations and effect of this Article 3, all Title Benefits, Title Benefit Amounts, Title Defects, and Defect Amounts, the presence or absence of any Mineral Interest on Exhibit A-1, the presence or absence of any Well on Exhibit A-2, the Allocated Value of any Mineral Interest or Well, or any other matter related to title to the Mineral Interests or the Xxxxx in dispute shall be exclusively and finally resolved pursuant to this Section 3.5. Any time following the Target Closing Date if Closing has not occurred as a result of a Party’s failure to satisfy or waive Section 9.1(d) or Section 9.2(d), as applicable, disputes as to the interpretation and effect of this Article 3 and all Title Benefits, Title Benefit Amounts, Title Defects or Defect Amounts in dispute with respect to each Mineral Interest or each Well located within a particular state shall be submitted to a three-person panel of title attorneys (with respect to each such state, the “Title Arbitration Panel”), each of which shall have at least ten (10) years’ experience in oil and gas titles in such state (each such title attorney with respect to each such state, a “Title Referee”). Purchasers shall appoint one (1) Title Referee to sit on the Title Arbitration Panel, Sellers shall appoint one (1) Title Referee to sit on the Title Arbitration Panel and such Title Referees shall collectively appoint the third (3rd) Title Referee. Each Title Referee shall not have worked as an employee or outside counsel for any Party or any Affiliate of any Party during the ten (10) year period preceding the arbitration or have any financial interest in the dispute.
Title Disputes. Should the Trustee or Beneficiary be made defendant in any suit involving the title to any of the Mortgaged Property, or involving the validity or priority of the lien of this Deed of Trust, then it is agreed that in every such case an attorneys’ fee in a reasonable amount shall be fixed by the court in which said suit may be pending, and may be adjudged in favor of the attorney or attorneys of record representing said parties, which fee shall be adjudged against the Grantor, on motion made therein therefor as a part of the costs of such proceedings, and that such reasonable costs and expenses of said parties, shall also be fixed and adjudged as costs therein by the court, and it is agreed that all such fees, costs and expenses of every such proceeding shall be adjudged against said Grantor (if not charged against a party other than the Trustee or the Beneficiary, their successors and assigns), and when so adjudged shall be secured by this Deed of Trust.
Title Disputes. In the event Buyer and Seller are unable to agree upon: (a) the existence of a Title Defect; or (b) the Title Defect Value of any asserted Title Defect on or before the Closing Date, then, in each case, either Seller or Buyer may elect by written notice prior to Closing to the other party to submit such dispute to arbitration to be conducted in accordance with Section 11.10. Nothing herein shall operate to cause Closing to be delayed on account of any arbitration hereunder and to the extent any adjustments are not agreed upon by the Parties as of the Scheduled Closing Date, the Purchase Price shall be reduced at Closing pursuant to the terms of this Agreement using the Title Defect Values asserted in good faith by Buyer.
Title Disputes. Any dispute between HighGround and Treaty concerning the existence, nature or extent of a Title Defect, the Title Defect Value, or the adequacy of curative work performed in respect of such Title Defect shall be resolved as provided in Section 14.8, below.
Title Disputes. 6.1 RBK shall not be liable to Von Einsiedel, and shall not be deemed in default hereunder for any failure or delay to pay any portion of the Option Price if prior to payment thereof any dispute as to ownership or title to the Property or the minerals therein arises, including native land claims. All times provided for in this Agreement shall be extended for the period commensurate with the period for the delay and, so far as possible, both parties shall take all reasonable steps to remedy the delay caused by the events referred to above.
