Common use of Identification of Upward Adjustment Clause in Contracts

Identification of Upward Adjustment. If prior to Closing, Seller notifies Buyer that there is an inaccuracy in Exhibit B whereby Seller owns more interest in one or more of the Assets than represented thereon, the Purchase Price shall be proportionately increased in accordance with Section 2.02 (based upon the interest originally set forth on Exhibit B and the Allocated Value of such interest) to reflect such increased value (the “Upward Adjustment”).

Appears in 4 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement (QR Energy, LP)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.