Common use of Assets Affected by Defective Interests Clause in Contracts

Assets Affected by Defective Interests. In determining which portions of the Assets are Defective Interests, it is the intent of the parties to include, when possible, only that portion of the Assets affected by the defect. If the Allocated Value of Defective Interests cannot be determined directly from Exhibit D because the Defective Interests constitute a property included within, but not totally comprising, the Assets to which the Allocated Value relates, then the value attributable to the Defective Interest shall be determined based upon the following criteria:

Appears in 3 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement (QR Energy, LP)

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Assets Affected by Defective Interests. In determining which portions of the Assets are Defective Interests, it is the intent of the parties to include, when possible, only that portion of the Assets affected by the defect. If the Allocated Value of Defective Interests cannot be determined directly from Exhibit D because the Defective Interests constitute a property included within, but not totally comprising, the Assets to which the Allocated Value relates, then the value attributable to the Defective Interest Value shall be determined based upon the following criteria:

Appears in 1 contract

Samples: Purchase and Sale Agreement (QR Energy, LP)

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