Property Subdivision definition

Property Subdivision means each well, well completion, multiple well completion, unit, lease or other subdivision of property described or referenced in the Property Schedule.

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Property Subdivision means each well location, well or other subdivision of property described or referenced in Part II of the Property Schedule.

Property Subdivision means each well location, well, well completion or other subdivision of property described or referenced in Part II of the Property Schedule. The Property Subdivision with respect to any well, well location, well completion, or multiple well completion referenced in the Property Schedule shall include the spacing unit for such well, well location or well completion.

Examples of Property Subdivision in a sentence

If Seller within such time fails to cure any Title Defect of which Buyer has given timely written notice as required above and Buyer has not and does not waive same on or before the day immediately preceding the Closing Date, the Property Subdivision affected by such uncured and unwaived Title Defect shall be a “Title Defect Property”.
If a Preference Right affects only a portion of a Property Subdivision and a portion of the Purchase Price has not been allocated specifically to such portion of a Property Subdivision in Part II of the Property Schedule, then the portion of the Purchase Price to be allocated to such Preference Property shall be determined in the same manner as provided in Section 6.2(d)(7) when a Title Defect affects only a portion of a Property Subdivision.
If any adjustment is made to the Purchase Price pursuant to this Section 6.2, a corresponding adjustment shall be made to the portion of the Purchase Price allocated to the affected Property Subdivision in Part II of the Property Schedule.
To the extent requested by Buyer and/or required by applicable governmental authorities, Seller shall be required to join in (whether prior to or after Closing) the filing of the Property Subdivision Plat and other subdivision plats of any portion of the Property desired to be obtained by Buyer and execute all documents (whether prior to or after Closing) requested by Buyer in connection with the Property Subdivision Plat and such other subdivision plats.
A portion of a Property Subdivision shall be deemed to have a “Title Defect” if Seller does not have Defensible Title thereto as of the execution date hereof and as of the Closing Date.
Prior to the expiration of the sixty (60) day period commencing on the execution of this Agreement (the “Title Examination Period”), Buyer shall notify Seller in writing of any matters which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect with respect to any portion of a Property Subdivision pursuant to this Article VI.
A portion of a Property Subdivision shall be deemed to have a “Title Defect” if Seller does not have Defensible Title thereto as of the Effective Time and as of the Closing Date.
If any adjustment is made to the Purchase Price pursuant to this Section 6.2, a corresponding adjustment shall be made to the portion of the Purchase Price allocated to the affected Property Subdivision in the Property Schedule.
During the period commencing on the execution of this Agreement and terminating on September 12, 2014 (the “Title Examination Period”), Buyer shall notify Sellers in writing of any matters which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect with respect to any portion of a Property Subdivision pursuant to this Article VI.
At or prior to Closing, Buyer shall be required to obtain a subdivision plat of the entire Property sufficient for recording in the official records of ▇▇▇ County, Florida (the "Property Subdivision Plat"), which subdivides the Property into legal lots and/or parcels for development substantially in accordance with the Approved Site Plan (hereinafter defined).

More Definitions of Property Subdivision

Property Subdivision means each well, well location, or lease described or referenced in Part II of the Property Schedule, provided, however, that with respect to each well location described or reference in Part II(A) of the Property Schedule and each lease described or referenced in Part II(B) of the Property Schedule, such Property Subdivision shall be limited to such well location or lease insofar as it covers the Marcellus Zone.

Property Subdivision means each well location, well, well completion, multiple well completion, unit, Lease or other subdivision of Properties in Exhibit “G” hereto. The Property Subdivision with respect to any well, well location, well completion, or multiple well completion of those Properties in Exhibit “G” hereto shall include the spacing unit for such well, well location, well completion or multiple well completion.

Property Subdivision means each Well, well location (including a non-producing, undeveloped, probable or possible well location), or unit described or referenced on Part II of the Property Schedule.

Property Subdivision means each well, well completion, multiple well completion, unit or other subdivision of property described or referenced in the Property Schedule. For purposes of Buyer's title review, (i) the existing and projected well▇ ▇▇▇erenced in the Property Schedule and the locations of such well▇ ▇▇▇ the respective well▇ ▇▇▇ locations which were included in the Reserve Report and (ii) if any uncertainty arises as to the identity or location of any existing or projected well▇ ▇▇ the Reserve Report, reference shall be made to the data room materials prepared by Seller or the Company in connection with the Seller's sale of the Company for determination of the well and the exact location of any well.