Title Defect Notice definition

Title Defect Notice shall have the meaning set forth in Section 11.2(a).

Title Defect Notice has the meaning set forth in Section 6.2(a).

Title Defect Notice as defined in Section 4.04(a).

Examples of Title Defect Notice in a sentence

• The Title Arbitrator, however, may not award the Buyer a greater Title Defect Amount than the Title Defect Amount claimed by Buyer in its applicable Title Defect Notice and may not award Seller a greater Title Benefit Amount than the Title Benefit Amount claimed by Seller in its applicable Title Benefit Notice.

• For all purposes of this Agreement and notwithstanding anything herein to the contrary, Buyer shall be deemed to have waived, and Seller shall have no liability for, any Title Defect which Buyer fails to assert as a Title Defect by a Title Defect Notice received by Seller on or before the Title Claim Date.

• Upon receipt of a timely Title Defect Notice, upon request by Seller, Buyer shall promptly deliver to Seller copies of all data, records, title reports, opinions and other information in Buyer’s possession or control bearing upon or relating to the alleged Title Defect and its determination of the Title Defect Value.

• Seller shall either cure the Title Defect to the reasonable satisfaction of Buyer (“Cure”), or if Seller is unable to Cure such Title Defect within sixty (60) days after receipt of the Title Defect Notice, adjust the Purchase Price downward by Buyer’s good faith estimate of the Defect Value set forth in the Title Defect Notice, subject to the limitations set forth below.

• The Title Arbitrator, however, may not award (a) Buyer a greater Title Defect Amount than the Title Defect Amount claimed by Buyer in the applicable Title Defect Notice (which such Title Defect Amount shall not exceed the Allocated Value of the applicable Title Defect Property) or (b) SM Energy a greater Title Benefit Amount than the Title Benefit Amount claimed by SM Energy in the applicable Title Benefit Notice.

More Definitions of Title Defect Notice

Title Defect Notice shall have the meaning given such term in Section 4.03.

Title Defect Notice has the meaning set forth in Section 3.6.

Title Defect Notice is defined in Section 6.6.

Title Defect Notice is defined in Section 3.1(a).

Title Defect Notice shall have the meaning ascribed to it in Section 6.8 hereof.

Title Defect Notice has the meaning set forth in Section 8.3(a).

Title Defect Notice shall have the meaning set forth in Section 2.3(a).