Defect Deductible definition

Defect Deductible shall have the meaning given that term in Section 4.09.

Defect Deductible has the meaning provided such term in Section 7.7.

Defect Deductible means an amount equal to two percent (2%) of the Unadjusted Purchase Price.

Examples of Defect Deductible in a sentence

• In the event that the aggregate of all such Title Defect Amounts in excess of the Individual Title Defect Threshold exceeds the Aggregate Title Defect Deductible, the adjustment to the Purchase Price shall only be for the amount by which the total of all such Title Defect Amounts exceeds the Aggregate Title Defect Deductible.

• In the event that the aggregate of all such Environmental Defect Amounts in excess of the Individual Environmental Defect Threshold exceeds the Aggregate Environmental Defect Deductible, the adjustment to the Purchase Price shall only be for the amount by which the total of all such Environmental Defect Amounts exceeds the Aggregate Environmental Defect Deductible.

• If the Environmental Expert determines there is an Environmental Defect, and the amount of such Defect exceeds the Individual Environmental Defect Threshold and the amount of all Environmental Defects exceeds the Environmental Defect Deductible, Seller shall indemnify Buyer against all liability, loss, cost and expense resulting from such Environmental Defect in excess of the Defect Threshold to the extent the aggregate of all Environmental Defect Amounts exceeds the Environmental Defect Deductible.

• Purchaser shall be entitled to a downward adjustment to the Base Purchase Price in the amount, if any (the “Environmental Defect Adjustment”), by which: (i) the sum of the Environmental Defect Values with respect to all Surviving Environmental Defects; exceeds (ii) the Environmental Defect Deductible.

• Recovery on the Special Warranty of Title shall be equal to the applicable Title Defect Amount as calculated in accordance with the terms of this Agreement, mutatis mutandis, but shall not take into account the Title Defect Threshold or the Defect Deductible, and in no event shall Purchaser’s recovery thereunder exceed the Allocated Value of the affected Asset.

More Definitions of Defect Deductible

Defect Deductible means $11,000,000.

Defect Deductible means four percent (4%) of the Base Purchase Price.

Defect Deductible means one percent (1.0%) of the unadjusted Purchase Price.

Defect Deductible means an amount equal to three percent (3%) of the Unadjusted Purchase Price.

Defect Deductible means an amount equal to three percent (3.0%) of the Base Purchase Price.

Defect Deductible is defined in Section 3.2(d).

Defect Deductible shall have the meaning given that term in Section 4.09. “Defensible Title” shall have the meaning given that term in Section 4.05.