Good and Marketable Title definition
Good and Marketable Title means such title free from all liens, mortgages, security interests, encumbrances and adverse claims or other charges.
Good and Marketable Title means:
Good and Marketable Title means such title that: (i) is deducible of record (from the records of the applicable parish or county or (A) in the case of federal leases, from the records of the applicable office of the Minerals Management Service or Bureau of Land Management, (B) in the case of Indian leases, from the applicable office of the Bureau of Indian Affairs, (C) in the case of state leases, from the records of the applicable state land office) or is assignable to Company or its Subsidiaries out of an interest of record because of the performance by Company or its Subsidiaries of all operations required to earn an enforceable right to such assignment; (ii) is free from reasonable doubt to the end that a prudent purchaser engaged in the business of owning, developing and operating producing oil and gas properties with knowledge of all of the facts and their legal bearing would be willing to accept and pay full value for the same and a prudent lender would be willing to lend against it as collateral without discount for title matters; (iii) except as set forth in Section 4.18(b)(iii) of the Company Disclosure Schedule, entitles Company or its Subsidiaries to receive a percentage of Hydrocarbons produced, saved and marketed from such well or property not less than the interest set forth in the Company Reserve Report with respect to each proved property evaluated therein under the caption “Net Revenue Interest” or “NRI” without reduction during the life of such property except as stated in the Company Reserve Report; (iv) obligates Company and its Subsidiaries to pay costs and expenses relating to each such proved property in an amount not greater than the interest set forth under the caption “Working Interest” or “WI” in the Company Reserve Report with respect to such property without increase over the life of such property except as shown on the Company Reserve Report; and (v) does not restrict the ability of Company or its Subsidiaries to use the properties as currently intended.
Examples of Good and Marketable Title in a sentence
None of the representations and warranties of Seller or Buyer set forth in this Agreement shall survive the Closing; provided, that the representations and warranties of Seller set forth in Section 4.04 (Good and Marketable Title to Shares) and Section 4.05 (The Shares) shall survive indefinitely following the Closing.
Good and Marketable Title to the Real Estate --------------------- shall be conveyed by Seller to Purchaser by Special Warranty Deed, free and clear of all liens, easements, restrictions, and encumbrances whatsoever, excepting only the Permitted Exceptions.
The Title Defect Amount shall be considered a materiality qualifier to the foregoing representation and warranty regarding Good and Marketable Title.
Acquisition Option means our settlement of a Claim by payment of the entire Calculated Loss and acquisition of Good and Marketable Title to the Property as described in Section 10.1(a) (Company Options), subject to any reductions provided for in this Policy.
In relation to each Eligible Dwelling identified by the Provider for the future receipt of the Help to Buy (Scotland) Affordable New Build Scheme Equity Funding, either the Provider or one of its Group Companies (a) has, or (b) will have prior to any drawdown of Equity Funding in respect of that Eligible Dwelling, or (c) can procure pursuant to binding contractual arrangements with the proprietor of the Eligible Dwelling, a Good and Marketable Title to such Eligible Dwelling.
More Definitions of Good and Marketable Title
Good and Marketable Title means title to the Shares that a bona fide purchaser for value without notice of any adverse claim (or a protected purchaser under Section 8-303 of the Delaware Uniform Commercial Code) would receive. For avoidance of doubt, Good and Marketable Title is superior in right as to any Person with adverse claims even in the event of fraud.
Good and Marketable Title means such right, title or interest held by Seller that will entitle Buyer, in Buyer's sole discretion, to: (i) an interest in each Lease covering the number of net mineral acres described in the column marked "Net Acres Conveyed" on Schedules 2.1(a), 2.1(b), and 2.1(c); (ii) receive no less than an 80% net revenue interest listed on Schedules 2.1(a) and 2.1(c) in each Lease, all without reduction, suspension, or termination of such interest throughout the term of any of the Leases; under Schedule 2.1(b) the net revenue interest delivered is described for each Lease for the Section 25 properties; (iii) Leases with primary terms expiring on the dates set out for each of the Leases in Schedules 2.1(a), 2.1(b) and 2.1(c), subject to the terms and conditions of prior Assignments.
Good and Marketable Title means such right, title or interest held by Seller that will entitle Buyer, in Buyer's sole discretion, to: (i) an interest in each Lease covering the number of net mineral acres described in the column marked "Net Mineral Acres" in Schedules 2.1(a) and 2.1(b); (ii) receive no less than the net revenue interest listed on Schedules 2.1(a) and 2.1(b) in each Lease; (iii) Leases with primary terms expiring on the dates set out for each of the Leases in Schedules 2.1(a) and 2.1(b); and (iv) sufficient rights under the Leases to allow Buyer to fully develop the oil, gas, and minerals covered by the Leases.
Good and Marketable Title means such title that: (i) is deducible of record (from the records of the applicable parish or county or (A) in the case of federal leases, from the records of the applicable office of the Minerals Management Service or Bureau of Land Management, (B) in the case of Indian leases, from the applicable office of the Bureau of Indian Affairs, (C) in the case of state leases, from the records of the applicable state land office) or is assignable to Company or its Subsidiaries out of an interest of record (as so defined) because of the performance by Company or its Subsidiaries of all operations required to earn an enforceable right to such assignment; (ii) except as set forth in Section 4.18(b) of the Company’s Disclosure Letter, entitles Company or its Subsidiaries to receive a percentage of Hydrocarbons produced, saved and marketed from such well or property not less than the interest set forth in the Company Reserve Report with respect to each proved property evaluated therein under the caption “Net Revenue Interest” or “NRI” without reduction during the life of such property except as stated in the Company Reserve Report; and (iii) obligates Company and its Subsidiaries to pay costs and expenses relating to each such proved property in an amount not greater than the interest set forth under the caption “Working Interest” or “WI” in the Company Reserve Report with respect to such property without increase over the life of such property except as shown on the Company Reserve Report.
Good and Marketable Title means title in and to the Oil and Gas Interests that, except for the Permitted Encumbrances:
Good and Marketable Title means record or beneficial title or interest that is free and clear of any Lien or defect in title (other than a Permitted Encumbrance) as is sufficient to enable Seller to own, operate and maintain all Realty Interests and Rights of Way as applicable, in all material respects in the ordinary course of business and consistent with past business practices, and in compliance with applicable Laws.
Good and Marketable Title means in respect of the Eligible Dwelling a good and marketable heritable title, either recorded in the Register of Sasines or registered in the Land Register of Scotland;