Asset Title Review. Until Closing, Buyer shall have reasonable access, without express or implied warranty of any kind regarding the accuracy of such information, to copies of non-privileged information in Seller’s possession regarding Seller’s title to the Assets, which information Buyer may copy at its sole cost and expense (unless prohibited by agreement between Seller and a third party). Except as otherwise provided in this Agreement, Seller shall not be required to perform any additional title work. Any existing abstracts and title opinions have not been made, and will not be made, current by Seller. Buyer specifically agrees that any conclusions made from any examination done or caused to be done from Seller-furnished information regarding title have resulted and shall result from its own independent review, skill, knowledge and judgment only.
Asset Title Review. Seller shall make available until Closing for Buyer’s review, such title information and abstracts as may then be available in Seller’s files. Seller also agrees to provide originals to Buyer of all documents, reports, or similar information, if available, in Seller’s files, which document and evidence Seller’s ownership of the real property and working interest portions of the Assets being conveyed hereunder, as well as copies of any contracts, agreements or similar documents which benefit or obligate Seller as to the Assets or the production there from, i.e., production purchase contracts with third parties including accounting records thereto. Seller shall not perform any additional title work, and any existing abstracts and title opinions will not be made current by Seller. NO WARRANTY OF ANY KIND IS MADE BY SELLER AS TO THE COMPLETENESS OR ACCURACY OF INFORMATION SO SUPPLIED, and Buyer agrees that any conclusions drawn there from shall be the result of its own independent review and judgment .
Asset Title Review. Seller shall make available until two (2) days before Closing at Seller’s office at 000 Xxxx Xxxxxxx Xxxxxx, Xxxxx, Xxxxxxxx, 00000, or such other place as deemed appropriate by Seller, upon execution of this Contract, during normal business hours, and Buyer shall examine such title information and abstracts as may then be available in Seller’s and Vintage’s files. Seller also agrees to provide copies to Buyer of all documents, reports, or similar information, if available, in Seller’s and Vintage’s files, which document and evidence Seller’s ownership of the real property and working interest portions of the Assets being conveyed hereunder, as well as copies of any contracts, agreements or similar documents which benefit or obligate Seller as to the Assets or the production therefrom, i.e., production purchase contracts with third parties, including accounting records related thereto. Seller shall not perform any additional title work, and any existing abstracts and title opinions will not be made current by Seller. NO WARRANTY OF ANY KIND IS MADE BY SELLER AS TO THE COMPLETENESS OR ACCURACY OF INFORMATION SO SUPPLIED, and Buyer agrees that any conclusions drawn therefrom shall be the result of its own independent review and judgment; provided, however, that Seller represents that to the best of its knowledge, it has made available all of Seller’s and Vintage’s title information related to the Assets.
Asset Title Review. Promptly after signing this Agreement and until five (5) days before Closing, Buyer shall have reasonable access to copies of non-privileged information in Seller’s possession regarding Seller’s title to the Assets, which information Buyer may copy at its sole cost and expense (unless prohibited by agreement between Seller and a third party). Except as otherwise may be provided in this Agreement, Seller shall not be required to perform any additional title work. Although all title materials in the possession of Seller shall be provided to Buyer, Seller is under no obligation to update any abstracts of title or title opinions. Should Buyer prepare or update abstracts or title opinions, a copy of such will be made available to Seller, without cost and without warranty of any kind, for Seller’s independent examination at least five (5) days prior to Closing or upon the delivery of a Notice of Alleged Title Defect (defined below), whichever is the earlier. Buyer specifically agrees that any conclusions made from any examination done or caused to be done from Seller furnished information regarding title have resulted and shall result from its own independent review, skill, knowledge and judgment only.
Asset Title Review. Prior to Closing, Seller will have made available to Buyer, without express or implied warranty of any kind regarding the accuracy of such information, copies of all information in Seller's possession regarding Seller's title to the Assets, which information Buyer may copy at its sole cost and expense (unless prohibited by agreement between Seller and a third party). Buyer may review the information at Seller' office at 3000 Youngfield, Suite 000, Xxxxxxxx, Xxxxxxxx 00000; xx xxx xxxxx xxxxxxxx where such information may be available, depending on the files reviewed.
Asset Title Review. From the date hereof until the Closing, "Seller shall make available to Buyer without express or implied warranty of any kind regarding the accuracy of such information, copies of information in Seller's possession regarding Seller's title to the Assets. Buyer shall review the information at Seller's office Buyer specifically agrees that any conclusions made from any examination done or caused to be done shall result from its own independent review and judgment only. In the event of a title defect which would prevent Buyer from enjoyment of the Assets in the same manner enjoyed by Seller immediately prior to the date of this agreement, Buyer shall notify Seller of such. defect within fifteen (15) days after discovery. If Seller and Buyer cannot agree on resolution of such defect, Seller shall elect (a) to cure the defect at its own expense, (b) to delete the property with such defect from the sale and to reduce the Purchase Price by the amount allocated to such property on Exhibit C, or (c) to cancel the sale and refund Buyer's $500,000.00 deposit without interest.
Asset Title Review. Immediately upon execution of this agreement, Seller shall make available to Buyer next day, without express or implied warranty of any kind regarding the accuracy of such information, copies of information in Seller's possession regarding its title to the Assets. Seller shall not perform any additional title work, and Seller will not make existing abstracts and title opinions current. Buyer specifically agrees that any conclusions made from any examination done or caused to be done shall result from its own independent review and judgement only. In the event of a title defect that would result in Seller not having Defensible Title (as such term is defined below) to one of the Assets, Buyer shall notify Seller of such defect no later than 5 days before closing. If Seller and Buyer cannot agree on resolution of such defect, Seller shall elect (a) a cure the defect at its own expense prior to Closing, or (b) to delete its interest in the Asset with such defect from the sale to Buyer in which event the amount to be paid by Buyer for the Assets at Closing and the amount which Seller would otherwise be entitled to receive under Section 2.1 shall be reduced by an amount mutually agreed to by Seller and Buyer provided,
1. In the case of an interest in the Leases, "Defensible Title" shall mean, with respect to Seller such title, free and clear of all liens, claims, impairments, or encumbrances other than the Listed Contracts, as (a) will entitle Buyer to receive a percentage of the oil and gas produced and saved from the lands covered by such Leases, without limitation as to the depth, after deducting all applicable Production Burdens, that is not less than the "Net Revenue Interest" of Seller in the Leases shown on Exhibit "A" without reduction throughout the productive life of the Leases, and (b) will obligate Buyer to bear and pay a portion of the costs and expenses of operating the lands covered by such interest in the Leases that is not greater than the "Working Interest" of Seller shown on Exhibit "A" without increase throughout the productive life of the Leases. In the case of all other Assets, "Defensible Title" shall mean, with respect to Seller, good and marketable title free and clear of all liens, claims, impairments or encumbrances other than the Listed Contracts and any encumbrances created thereby. As used herein, "Production Burdens" shall mean royalty interests, overriding royalty interests, production payments, net profit interests or other simil...
Asset Title Review. (A) During the Interim Period, Buyer shall have reasonable access, without express or implied warranty of any kind regarding the accuracy of such information, to copies of non-privileged information in Seller’s possession regarding Seller’s title to the Assets, which information Buyer may copy at its sole cost and expense, unless prohibited by agreement between Seller and a Third Party.
(B) Except as otherwise provided in this Agreement, Seller shall not be required to perform any additional title work. Any existing abstracts and title opinions have not been made, and will not be made, current by Seller.
(C) Buyer specifically agrees that any conclusions made from any examination done or caused to be done from Seller-furnished information regarding title have resulted and shall result from its own independent review, skill, knowledge and judgment only.
Asset Title Review. Prior to Closing, Seller will have made available to Buyer, without express or implied warranty of any kind regarding the accuracy of such information, copies of all information in Seller's possession regarding Seller's title to the Assets, which information Buyer may copy at its sole cost and expense (unless prohibited by agreement between Seller and a third party). Buyer may review the information at Seller's office at 00000 X. Xxxxxxxx, Xxxxxxx, Xxxxx 00000; or any other location where such information may be available, depending on the files reviewed. Except as otherwise provided in this Agreement, Seller shall not perform any additional title work. Any existing abstracts and title opinions have not been made and will not be made current by the Seller. Buyer specifically agrees that any conclusions made from any examination done or caused to be done have resulted and shall result from its own independent review, skill, knowledge and judgment only. With regard to Buyer's due diligence review of Seller's files, Buyer or Buyer's representative, will be entitled to review and audit Seller's records, including but not limited to, confirmation of review and direct lease operating expenses covering the previous two year periods (1995 and 1996) and the interim period from January 1, 1997 through September 30, 1997.
Asset Title Review. Buyer may review the information specified in Section 5.01 at Seller’s offices in Houston, Texas. Seller shall not perform any additional title work. Any existing abstracts and title opinions have not been made and will not be made current by the Seller. Buyer specifically agrees that any conclusions made from any examination done or caused to be done have resulted and shall result from its own independent review, skill, knowledge and judgment only.
