Common use of Certain Price Adjustments Clause in Contracts

Certain Price Adjustments. (a) In the event that, as a part of the due diligence review provided for in Section 7.1 above, Asserted Defects are presented to Seller and Seller is unable (or unwilling) to cure such Asserted Defects, or in the event that Buyer has elected to treat an Oil and Gas Property affected by a casualty loss as if it was an Oil and Gas Property affected by an Asserted Defect (as provided in Section 7.4), then Buyer and Seller shall, with respect to each Oil and Gas Property affected by one or more Asserted Defects, attempt in good faith to agree upon an appropriate adjustment to the Purchase Price to account for such Asserted Defects. Notwithstanding the foregoing or anything herein to the contrary, Seller may elect to specify as an appropriate adjustment to the Purchase Price for a Defect of the type specified in Section 7.1(b)(ii), the ------------------ amount required to discharge the lien.

Certain Price Adjustments. (a) In the event that, as a part of the due diligence review provided for in Section 7.1 above, Asserted Defects are presented to Seller and Seller is unable (or unwilling) to cure such Asserted Defects, or in the event that Buyer has elected to treat an Oil and Gas Property affected by a casualty loss as if it was an Oil and Gas Property affected by an Asserted Defect (as provided in Section 7.4), then Buyer and Seller shall, with respect to each Oil and Gas Property affected by one or more Asserted Defects, attempt in good faith to agree upon an appropriate adjustment to the Purchase Price to account for such Asserted Defects. Notwithstanding the foregoing or anything herein to the contrary, Seller may elect to specify as an appropriate adjustment to the Purchase Price for a Defect of the type specified in Section 7.1(b)(ii), the ------------------ amount required to discharge the such lien.