Marketable Title definition

Marketable Title means such ownership by Seller in the Assets that, subject to and except for the Permitted Encumbrances:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Marketable Title means good and defensible title and ownership, free and clear of all mortgages, liens and encumbrances, except for Permitted Liens.

Marketable Title means such ownership by Seller in the Assets that, subject to and except for the Permitted Encumbrances, is free of restrictions that would prevent the development of Hydrocarbons from the Subject Interests consistent with current practices and:

Examples of Marketable Title in a sentence

• Should Seller be unable to convey Marketable Title as defined herein, Buyer may accept such Title as Seller can convey, or may reject the Unmarketable Title, receive back all Deposit money, and declare this Agreement null and void.

• Seller represents and warrants to Buyer that (i) Seller has Good And Marketable Title to the Raw Product delivered by it to Buyer hereunder and the right to sell and deliver same to Buyer, and SELLER AGREES TO RELEASE, INDEMNIFY, DEFEND AND HOLD BUYER HARMLESS FROM AND AGAINST ANY CLAIMS ARISING OUT OF OR RELATED TO ANY FAILURE OF SUCH TITLE OR BREACH OF THIS WARRANTY; and (ii) Seller shall deliver all Raw Product sold to Buyer hereunder in compliance with all Applicable Laws.

• In case of dispute between the parties, the Title Standards adopted by the Kansas Bar Association and the Kansas Marketable Title Act shall control.

• The term “Title Defect” means any encumbrance on, encroachment on, irregularity in, defect in, or objection to Seller’s ownership of the Assets (excluding Permitted Encumbrances) that causes Seller not to have Marketable Title to a particular Lease, including any Well, PUD Location, and PDNP, all as described in Exhibit C.

• 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.

More Definitions of Marketable Title

Marketable Title means good and indefeasible title, free and clear of all Liens other than Permitted Liens.

Marketable Title means title free and clear from reasonable doubt as to matters of law and fact such that a prudent operator of Oil and Gas Properties, advised of the facts and their legal significance, would willingly accept, and specifically includes rights to acquire title to Oil and Gas Properties from record title owners under farm-in or similar agreements that are customary in the industry and which are acceptable to prudent operators of Oil and Gas Properties.

Marketable Title means good and marketable title, free and clear of all mortgages liens and encumbrances, except for Excepted Liens.

Marketable Title means the Properties are free and clear of all encumbrances, liens, claims, easements, rights, agreements, instruments, obligations, burdens, or defects (collectively the "Liens"), except for Permitted Encumbrances.

Marketable Title means good and indefeasible title and ownership, free and clear of all mortgages, liens and encumbrances, except for Permitted Encumbrances.

Marketable Title shall have the meaning set forth in Section 5.3(a).

Marketable Title means an instrument of ownership with sufficient supporting documentation to demonstrate an unencumbered fee simple interest in the land. A statutory warranty deed or some lesser instrument accompanied by a title insurance policy showing ownership is vested in the names of those appearing as grantors constitutes marketable title for the purposes of this chapter.