Title Defect Value. In determining which portion of the Assets constitute a Title Defect, it is the intent of the parties to include, to the extent possible, only that portion of the Assets that is adversely affected by the defect. The Defect Value shall be determined by the parties in good faith taking into account all relevant factors, including, but not limited to, the following:
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Petroquest Energy Inc), Purchase and Sale Agreement (Petroquest Energy Inc)
Title Defect Value. In determining which portion portions of the Assets an Asset constitute a Title Defect, it is the intent of the parties to include, to the extent possible, only that portion of the Assets any affected Asset (whether a Well, Unit or leasehold interest, as applicable) that is adversely affected by the defect. The Defect Value for a Title Defect shall not exceed the Allocated Value of the Asset and shall be determined by the parties in good faith taking into account all relevant factors, including, but not limited to, the following:
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement Haywood Area Properties (Petroquest Energy Inc)
Title Defect Value. In determining which portion portions of the Assets an Asset constitute a Title Defect, it is the intent of the parties to include, to the extent possible, only that portion of the Assets any affected Asset (whether a Well, unit or leasehold interest, as applicable) that is adversely affected by the defect. The Defect Value for a Title Defect shall not exceed the Allocated Value of the Asset and shall be determined by the parties in good faith taking into account all relevant factors, including, but not limited to, the following:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Petroquest Energy Inc)
