Common use of Environmental Defect and Title Defect Values Clause in Contracts

Environmental Defect and Title Defect Values. Upon timely delivery of notice of an Environmental or Title Defect, Buyer and Seller shall use their best efforts to agree on the validity and value of the claim for the purpose of making any adjustment to the Purchase Price based on the provisions herein (“Environmental or Title Defect Value”). Notwithstanding anything to the contrary set forth herein, the Environmental or Title Defect Value and any related adjustment to the Purchase Price shall in no event exceed the Allocated Value of the affected Asset. In determining the Value of an Environmental or Title Defect, it is the intent of the Parties to include, to the extent possible, only that portion of the lands, leases and xxxxx, or other Assets, whether an undivided interest, separate interest or otherwise, materially and adversely affected by the Defect. The following guidelines shall be followed by the Parties in establishing the Value of any Environmental or Title Defect for the purpose of adjusting the Purchase Price if (a) the validity of the claim is agreed to by the Parties, (b) proper notice has been timely given, and (c) subject to (i) application of the appropriate deductibles as set forth in this agreement for Environmental Defects and Title Defects , and (ii) application of the Aggregate Defect Basket requirement as set forth in Section 7.4 for Environmental and Title Defects:

Environmental Defect and Title Defect Values. Upon timely delivery of notice of an Environmental or Defect and/or a Title Defect, Buyer and Seller shall use their best efforts to agree on the validity and value of the claim for the purpose of making any adjustment to the Purchase Price based on the provisions herein (“Environmental or Title Defect Value”). Notwithstanding anything to the contrary set forth herein, the Environmental or Title Defect Value and any related adjustment to the Purchase Price shall in no event exceed the Allocated Value of the affected AssetScheduled Interest. In determining the Defect Value of an Environmental Defect or a Title Defect, it is the intent of the Parties to include, to the extent possible, only that portion of the lands, leases and xxxxx, or other AssetsScheduled Interests, whether an undivided interest, separate interest or otherwise, materially and adversely affected by the Defectdefect. The following guidelines shall be followed by the Parties in establishing the Defect Value of any Environmental Defect or Title Defect for the purpose of adjusting the Purchase Price if (a) the validity of the claim is agreed to by the Parties, (b) Parties and proper notice has been timely given, and (c) subject to (i) application of the appropriate deductibles as set forth in this agreement Agreement for Environmental Defects and Title Defects Defects, and (ii) application of the Aggregate Defect Basket requirement as set forth in Section 7.4 for Environmental Defects and Title Defects:

Environmental Defect and Title Defect Values. Upon timely delivery of notice of an Environmental or Defect and/or a Title Defect, Buyer and Seller shall in good faith use their best reasonable efforts to agree on the validity and value of the claim for the purpose of making any adjustment to the Purchase Price based on the provisions herein (“Environmental or Title Defect Value”). Notwithstanding anything to the contrary set forth herein, the Environmental or Defect Value for any Title Defect Value and any related adjustment to the Purchase Price shall in no event exceed the Allocated Value of the affected Asset. In determining the Defect Value of an Environmental Defect or a Title Defect, it is the intent of the Parties to include, to the extent possible, only that portion of the lands, leases and xxxxx, Assets or other Assets, whether an undivided interest, separate interest or otherwise, materially and adversely affected by the Defectdefect. The following guidelines shall be followed by the Parties in establishing the Defect Value of any Environmental Defect or Title Defect for the purpose of adjusting the Purchase Price if (a) the validity of the claim is agreed to by the Parties, (b) Parties and proper notice has been timely given, and (c) subject to (i) application of the appropriate deductibles as set forth in this agreement Agreement for Environmental Defects and Title Defects Defects, and (ii) application of the Aggregate Defect Basket requirement as set forth in Section 7.4 for Environmental Defects and Title Defects:

Environmental Defect and Title Defect Values. Upon timely delivery of notice of an Environmental Defect and/or a Title Defect under Section 7.1 or Title DefectSection 8.2, respectively, Buyer and Seller shall in good faith use their best reasonable efforts to agree on the validity and value of the claim for the purpose of making any adjustment to the Purchase Price based on (the provisions herein (“Environmental or Title Defect Value”). Notwithstanding anything to the contrary set forth herein, the Environmental or Defect Value for any Title Defect Value and any related adjustment to the Purchase Price shall in no event exceed the Allocated Value of the affected Asset. In determining the Defect Value of an Environmental Defect or a Title Defect, it is the intent of the Parties to include, to the extent possible, only that portion of the lands, leases and xxxxx, or other Assets, whether an undivided interest, separate interest or otherwise, materially and adversely affected by the Defectsuch defect. The following guidelines shall be followed by the Parties in establishing the Defect Value of any Environmental Defect or Title Defect for the purpose of adjusting the Purchase Price if (a) the validity of the claim is agreed to by the Parties, (b) Parties and proper notice has been timely given, and (c) subject to (i) application of the appropriate deductibles individual thresholds as set forth in this agreement Agreement for Environmental Defects and Title Defects Defects, and (ii) application of the Aggregate Defect Basket Baskets requirement as set forth in Section 7.4 for Environmental Defects and Title Defects: