Definition of Marketable Title Sample Clauses

Definition of Marketable Title. As used herein with respect to each Property, the term "Marketable Title" shall mean that title which:
Sample 1
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Definition of Marketable Title. As used herein, the term "Marketable Title" shall mean, as to the Assets, such right, title and interest as shown of record that (a) entitles Seller (and after Closing, Purchaser, as Seller's successor in title) to receive not less than the net revenue interest set forth in Exhibit A-1 of all oil, gas and associated liquid and gaseous hydrocarbons produced, saved and marketed from the Assets, and the share allocated to the Assets of all oil, gas and associated liquid and gaseous hydrocarbons produced, saved and marketed from any unit of which the Assets are part, all without reduction, suspense, or termination of the net revenue interests in the Assets, except as stated in Exhibit A-1, (b) obligates Seller (and after Closing, Purchaser, as Seller's successor in title) to bear a percentage of the costs and expenses relating to the maintenance and development of and operations relating to the Assets not greater than the working interests shown in Exhibit A-1, all without increase of the working interests in the Assets throughout the duration of the Assets, except as stated in Exhibit A-1, and (c) except for Permitted Encumbrances, and subject to Section 3.2 and 3.9, is free and clear of all liens, claims and encumbrances.
Sample 1
Definition of Marketable Title. As used herein with respect to each LNP PROPERTY, the term “Marketable Title” shall mean that title which is filed of record and free from reasonable doubt such that a prudent person engaged in the business of the ownership, development and operation of producing oil and gas properties, with knowledge of all the facts and their legal effect, would be willing to accept the same and which:
Sample 1

Related to Definition of Marketable Title

  • Definition of Market Price The market price for any security shall be (i) the market price for that security quoted at the close of the trading day effective on the Bank Closing Date as published electronically by Bloomberg, L.P., or alternatively, at the discretion of the Receiver, by IDC/Financial Times (FT) Interactive Data; (ii) provided that if such market price is not available for such security, the Assuming Institution will submit a written purchase price bid for such security within three days of notification/bid request by the Receiver (unless a different time period is agreed to by the Assuming Institution and the Receiver) and the Receiver, in its sole and absolute discretion, will accept or reject each such purchase price bid; (iii) further provided that in the absence of an acceptable bid from the Assuming Institution, or in the event that a security is deemed essential to the Receiver as determined by the Receiver in its discretion (see Section 3.6 Retention or Repurchase of Assets Essential to the Receiver) such security shall not pass to the Assuming Institution and shall be deemed to be an excluded asset hereunder and listed on Schedule 3.5(l).

  • Definition of Company Solely for purposes of this Article 6, the term "Company" also shall include any existing or future subsidiaries of the Company that are operating during the time periods described herein and any other entities that directly or indirectly, through one or more intermediaries, control, are controlled by or are under common control with the Company during the periods described herein.

  • Definition of “Knowledge For purposes of the Loan Documents, whenever a representation or warranty is made to Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of the Responsible Officers.

  • Definition of Common Stock For the purpose of this Agreement, the term "Common Stock" shall mean (i) the class of stock designated as Common Stock in the Certificate of Incorporation of the Company as may be amended as of the date hereof, or (ii) any other class of stock resulting from successive changes or reclassifications of such Common Stock consisting solely of changes in par value, or from par value to no par value, or from no par value to par value.

  • Recitals and Definitions Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Agreement are true and accurate, are contractual in nature, and are hereby incorporated into and made a part of this Agreement.

  • Definition of Change of Control For purposes of this Agreement, a “Change of Control” will mean the first to occur of:

  • Definitions and Incorporation by Reference Section 1.01.

  • Certain Defined Terms Used in Lock-up Agreement For purposes of the letter agreement to which this Annex A is attached and of which it is made a part:

  • Definitions and Accounting Matters Section 1.01 Terms Defined Above 1 Section 1.02 Certain Defined Terms 1 Section 1.03 Types of Loans and Borrowings 20 Section 1.04 Terms Generally; Rules of Construction 20 Section 1.05 Accounting Terms and Determinations; GAAP 21

  • Definitions General Interpretive Principles Section 1.01. Defined Terms 1 Section 1.02. General Interpretive Principles 8 ARTICLE II

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