Common use of Interest Additions Clause in Contracts

Interest Additions. Promptly on discovery, but on or before two days prior to Closing, Buyer shall in good faith notify Seller, or Seller shall in good faith notify Buyer, of any interest discovered by that Party that would be an Asset hereunder, but which Seller failed to list as an Asset (with such interest being an “Interest Addition”). Interest Additions shall include, without limitation, the failure to describe the interest in detail and any interest that entitles Seller to receive more than the NRI or obligates Seller to bear costs and expenses in an amount less than the WI without a proportionate change in NRI. Each such notice of an Interest Addition shall be in writing and shall describe the Interest Addition, the estimated Allocated Value for the Interest Addition, or the amount by which the Allocated Value of the Asset has been increased by the Interest Addition (“Value of Interest Addition”), together with the associated computations and supporting documentation. The Parties shall determine the Value of the Interest Addition in good faith in the same manner as provided in Section 4.1D.2 taking into account all relevant factors. The Purchase Price shall be increased for only those Interest Additions that exceed the Individual Title Threshold (with the amount of such adjustment being the “Interest Addition Adjustment”).

Interest Additions. Promptly on discovery, but on or before two no later than 60 days prior to Closingafter the execution of this Agreement, Buyer shall in good faith notify Seller, or Seller shall in good faith notify Buyer, of any interest Interest Addition discovered by that Party that would be an Asset hereunder, but which Seller failed to list as an Asset (with such interest being an “Party. The term "Interest Addition”). Interest Additions " shall includemean, without limitationwith respect to an Asset, the failure to describe the interest ownership by Seller of a (i) greater NRI in detail and any interest that entitles Seller to receive more such Asset than the NRI set forth for such Asset on Exhibit A or obligates Seller to bear costs and expenses (ii) a lesser WI in an amount less such Asset than the WI set forth for such Asset on Exhibit A without a proportionate change in NRI. Buyer acknowledges and agrees to comply with the affirmative obligation set forth in the first sentence of this Article. Each such notice of an Interest Addition shall be in writing and shall describe the Interest Addition, Addition and state the estimated Allocated Value for the Interest Addition, or the amount by which the Allocated Value of the Asset has been increased by the Interest Addition (“"Value of Interest Addition”"), together with the associated computations and supporting documentation. The Parties shall determine the Value of the Interest Addition in good faith in the same manner as provided in Section 4.1D.2 Article 4.1.D taking into account all relevant factors. The , and increase the Purchase Price shall be increased for only those Interest Additions that exceed the Individual Title Threshold accordingly (with the amount of such adjustment being the “"Interest Addition Adjustment”").

Interest Additions. Promptly on discovery, but on or before two no later than sixty (60) days prior to Closingafter the execution of this Agreement, Buyer shall in good faith notify Seller, or Seller shall in good faith notify Buyer, of any interest Interest Addition discovered by that Party that would be an Asset hereunder, but which Seller failed to list as an Asset (with such interest being an Party. The term “Interest Addition”). Interest Additions ” shall includemean, without limitationwith respect to an Asset, the failure to describe the interest ownership by Seller of a (i) greater NRI in detail and any interest that entitles Seller to receive more such Asset than the NRI set forth for such Asset on Exhibit A or obligates Seller to bear costs and expenses (ii) a lesser WI in an amount less such Asset than the WI set forth for such Asset on Exhibit A without a proportionate change in NRI. Buyer acknowledges and agrees to comply with the affirmative obligation set forth in the first sentence of this Article. Each such notice of an Interest Addition shall be in writing and shall describe the Interest Addition, Addition and state the estimated Allocated Value for the Interest Addition, or the amount by which the Allocated Value of the Asset has been increased by the Interest Addition (“Value of Interest Addition”), together with the associated computations and supporting documentation. The Parties shall determine the Value of the Interest Addition in good faith in a manner consistent, to the same manner as provided in Section 4.1D.2 extent practicable, with Article 4.1.D taking into account all relevant factors. The , and increase the Purchase Price shall be increased for only those Interest Additions that exceed the Individual Title Threshold accordingly (with the amount of such adjustment being the “Interest Addition Adjustment”).