Common use of Buyer’s Termination Clause in Contracts

Buyer’s Termination. Notwithstanding the above, if Buyer can provide substantial evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would expose Buyer to costs to remedy or cure, or the potential for exposure for claims, damages, penalties, assessments or costs in excess of ten percent (10%) of the Purchase Price, Buyer, in its sole discretion, may terminate this Agreement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Magellan Midstream Partners Lp), Purchase and Sale Agreement (Giant Industries Inc)

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Buyer’s Termination. Notwithstanding the above, if Buyer can provide substantial reasonable evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would expose Buyer to costs would, or could reasonably be expected to, (i) cost more than ten percent (10%) of the Purchase Price to remedy or curecure the condition or defect, or the potential for exposure for claims, damages, penalties, assessments or costs (ii) result in Losses in excess of ten percent (10%) of the Purchase Price, Buyer, in its sole discretion, may terminate this Agreement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Buckeye Partners L P), Purchase and Sale Agreement (Buckeye Partners L P)

Buyer’s Termination. Notwithstanding the above, if Buyer can provide substantial reasonable evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would (i) cost more than ten percent (10%) of the Purchase Price to remedy or cure Seller's ownership percentage of the condition or defect, or (ii) expose Buyer to costs to remedy or cure, or the potential for exposure for claims, damages, penalties, assessments or costs in excess of ten percent (10%) of the Purchase PricePrice for Seller's ownership percentage of the condition or defect, then Buyer, in its sole discretion, may terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Markwest Energy Partners L P)

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Buyer’s Termination. Notwithstanding the above, if Buyer can provide substantial evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would (i) cost more than five percent (5%) of the Purchase Price to remedy or cure Seller's ownership percentage of the condition or defect, or (ii) expose Buyer to costs to remedy or cure, or the potential for exposure for claims, damages, penalties, assessments or costs in excess of ten five percent (105%) of the Purchase PricePrice for Seller's ownership percentage of the condition or defect, then Buyer, in its sole discretion, may terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Plains All American Pipeline Lp)

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