Buyer’s Termination. Notwithstanding the above, if Buyer can provide reasonable evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would, or could reasonably be expected to, (i) cost more than ten percent (10%) of the Purchase Price to remedy or cure the condition or defect, or (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 reasonable substantial evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would, or could reasonably be expected to, (i) cost more than ten percent (10%) of the Purchase Price would expose Buyer to costs to remedy or cure the condition or defectcure, or (ii) result in Losses 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)
Buyer’s Termination. Notwithstanding the above, if Buyer can provide reasonable substantial evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would, or could reasonably be expected to, would (i) cost more than ten five percent (105%) of the Purchase Price to remedy or cure Seller's ownership percentage of the condition or defect, or (ii) result in Losses expose Buyer to 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)
Buyer’s Termination. Notwithstanding the above, if Buyer can provide reasonable evidence that the Property is subject to Material Adverse Environmental Conditions or Material Defects that, when totaled together would, or could reasonably be expected to, 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) result in Losses expose Buyer to 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)