Common use of Notice of Defective Interest Clause in Contracts

Notice of Defective Interest. On or before the Defect Notice Date, Buyer shall advise Seller of any Notice of Defective Interest. Any Notice of Defective Interest shall be in writing and contain the following: (i) a description of the claimed Title Defect(s); (ii) the Title Defect Property; (iii) the Allocated Value of an individual Well subject to the Title Defect; (iv) supporting documents reasonably necessary for Seller (as well as any title attorney or examiner hired by Seller) to verify the existence of the alleged Title Defect(s); and (v) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and the computations and information upon which Buyer’s belief is based. To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer agrees to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all Title Defects discovered by Buyer during the calendar week. The Parties acknowledge and agree that such weekly notice is preliminary and may be supplemented and modified at any time prior to the Defect Notice Date, and that any failure to include a Title Defect on such weekly notice shall not in any way be a waiver of such Title Defect.

Notice of Defective Interest. On or before the Defect Notice Date, Buyer shall advise Seller in writing of any matters that in Buyer's reasonable opinion constitute a Title Defect with respect to Seller's title to all or any portion of the Leases and Xxxxx (“Notice of Defective Interest”). Any The Notice of Defective Interest shall be in writing and contain the following: : (i) a description of the claimed alleged Title Defect(s); , (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect (each a “Title Defect Property; ”), (iii) the Allocated Value of an individual Well subject to the each Title Defect; Defect Property, (iv) supporting documents documentation reasonably necessary for Seller (as well as any title attorney or examiner hired by Seller) to verify the existence of the alleged Title Defect(s); and , and (v) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and the computations and information upon which Buyer’s Xxxxx's belief is based. To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer Xxxxx agrees to use reasonable efforts to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all Title Defects discovered by Buyer or any of its representatives, during the calendar week. The Parties acknowledge and agree that such weekly notice is preliminary and week preceding the calendar week then ending, which may be preliminary in nature and supplemented and modified at any time prior to the Defect Notice Date; provided, and however, that the failure of Buyer to give Seller any failure to include a Title Defect on such weekly notice preliminary notices shall not in waive any way be Title Defects or constitute a waiver breach of such this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title DefectBenefit which is discovered by Xxxxx or any of its representatives while conducting Buyer's title review, due diligence or investigation with respect to the Leases or Xxxxx.

Notice of Defective Interest. On or before the Defect Notice Date, Buyer shall formally advise Seller in writing of any matters that in Buyer’s reasonable opinion constitute a Title Defect with respect to Seller’s title to all or any portion of the Leases and Xxxxx (“Notice of Defective Interest”). Any The Notice of Defective Interest Interests shall be in writing and contain the following: : (i) a clear, complete and accurate description of the claimed alleged Title Defect(s); , (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect(s) (each a “Title Defect Property; ”), (iii) the Allocated Value of an individual each Lease or Well subject to the alleged Title Defect; Defect(s), (iv) supporting documents reasonably necessary for Seller (as well as any title attorney or examiner hired by Seller) to verify the existence of the alleged Title Defect(s); and , and (v) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and the computations and information upon which Buyer’s belief is based. To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer agrees to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all Title Defects discovered by Buyer during the calendar week. The Parties acknowledge and agree that such weekly notice is preliminary and week preceding the calendar week then ending, which may be preliminary in nature and supplemented and modified at any time prior to the Defect Notice Date, and that any failure . Seller shall be deemed to include a have waived all Title Defects of which it has not given notice on or before the Defect on such weekly notice shall not in any way be a waiver of such Title DefectNotice Date.

Notice of Defective Interest. On or before the Defect Notice Date, Buyer shall advise Seller in writing of any matters that in Buyer's reasonable opinion constitute a Title Defect with respect to Seller's title to all or any portion of the Leases and Xxxxx (“Notice of Defective Interest”). Any The Notice of Defective Interest shall be in writing and contain the following: : (i) a description of the claimed alleged Title Defect(s); , (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect (each a “Title Defect Property; ”), (iii) the Allocated Value of an individual Well subject to the each Title Defect; Defect Property, (iv) supporting documents documentation reasonably necessary for Seller (as well as any title attorney or examiner hired by Seller) to verify the existence of the alleged Title Defect(s); and , and (v) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and the computations and information upon which Buyer’s 's belief is based. To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer agrees to use reasonable efforts to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all Title Defects discovered by Buyer or any of its representatives, during the calendar week. The Parties acknowledge and agree that such weekly notice is preliminary and week preceding the calendar week then ending, which may be preliminary in nature and supplemented and modified at any time prior to the Defect Notice Date; provided, and however, that the failure of Buyer to give Seller any failure to include a Title Defect on such weekly notice preliminary notices shall not in waive any way be Title Defects or constitute a waiver breach of such this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title DefectBenefit which is discovered by Buyer or any of its representatives while conducting Buyer's title review, due diligence or investigation with respect to the Leases or Xxxxx.

Notice of Defective Interest. On or before the Defect Notice Date, Buyer shall formally advise Seller in writing of any matters that in Buyer’s reasonable opinion constitute a Title Defect with respect to Seller’s title to all or any portion of the Leases and Xxxxx (“Notice of Defective Interest”). Any The Notice of Defective Interest shall be in writing and contain the following: : (i) a clear, complete and accurate description of the claimed alleged Title Defect(s); , (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect(s) (each a “Title Defect Property; ”), (iii) the Allocated Value of an individual each Lease or Well subject to the alleged Title Defect; Defect(s), (iv) supporting documents reasonably necessary for Seller (as well as any title attorney or examiner hired by Seller) to verify the existence of the alleged Title Defect(s); and , and (v) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and the computations and information upon which Buyer’s belief is based. To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer agrees to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all Title Defects discovered by Buyer during the calendar week. The Parties acknowledge and agree that such weekly notice is preliminary and week preceding the calendar week then ending, which may be preliminary in nature and supplemented and modified at any time prior to the Defect Notice Date, and that any failure . Seller shall be deemed to include a have waived all Title Defects of which it has not given notice on or before the Defect on such weekly notice shall not in any way be a waiver of such Title DefectNotice Date.