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 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”). The Notice of Defective Interest shall be in writing and contain the following: (i) a description of the 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 each Title Defect Property, (iv) supporting 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 (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 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 preceding the calendar week then ending, which may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, that the failure of Buyer to give Seller any such preliminary notices shall not waive any Title Defects or constitute a breach of this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title Benefit 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 a Party alleging a Title Defect shall advise Seller the other Party in writing of any matters that in Buyer's the alleging Party’s reasonable opinion constitute a Title Defect with respect to Seller's the other Party’s title to all or any portion of the Leases its Leases, Xxxxx and Xxxxx Fee Lands (“Notice of Defective Interest”). The Notice of Defective Interest shall be in writing and contain the following: (i) a description of the alleged Title Defect(s), (ii) the Leases or Xxxxx and Fee Lands (and the applicable zone(s) therein) affected by the alleged Title Defect (each each, a “Title Defect Property”), (iii) the Allocated Value of each Title Defect Property, (iv) supporting documentation documents reasonably necessary for Seller (as well as any title attorney or examiner hired by SellerLaramie or Delta, as applicable) to verify the existence of the alleged Title Defect(s), and (v) the amount by which Buyer reasonably believes alleging Party’s good faith estimate of the Allocated Value of each relevant Title Defect Property is reduced by the alleged Title Defect(s) Amount and the computations and information upon which Buyer's belief such estimate is based. To give Seller the Party against whom a Title Defect is being alleged an opportunity to commence reviewing and curing Title Defects, Buyer the alleging Party agrees to use reasonable efforts to give Sellerprovide, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all Title Defects discovered by Buyer the alleging Party or any of its representatives, representatives during the calendar week preceding the calendar week then ending, which may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, that the failure of Buyer to give Seller any such preliminary notices shall not waive any Title Defects . Laramie or constitute a breach of this Agreement. Buyer Delta shall also promptly furnish Seller the other Party with written notice of any Title Benefit which is discovered by Buyer such Party 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 advise notify Seller in writing of any matters that in Buyer's ’s reasonable opinion constitute a Title Defect with respect to Seller's ’s title to all or any portion of the Leases Leases, Xxxxx and Xxxxx Units (“Notice of Defective InterestInterests”). The Notice of Defective Interest Interests shall be in writing writing, shall identify the instrument as Buyer’s Notice of Defective Interests and shall contain the following: (i) a reasonably clear, complete and accurate description of the information in the possession of Buyer with respect to the alleged Title Defect(s), (ii) the Leases Leases, Xxxxx or Xxxxx Units (and the applicable zone(s) therein) affected by the alleged Title Defect Defect(s) (each a “Title Defect Property”), (iii) the Allocated Value of each Lease, Well or Unit subject to the alleged Title Defect PropertyDefect(s), (iv) supporting documentation 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 ’s belief is based. To give Seller an opportunity to commence reviewing and curing Title Defects, Buyer agrees to use shall make reasonable efforts to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, Seller written notice of all Title Defects discovered by Buyer or any at the end of its representatives, each calendar week during the calendar week preceding the calendar week then endingDue Diligence Period; provided, which however, any such written notice may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, that and the failure of Buyer to give Seller any provide such preliminary notices notice shall not be deemed to waive any Title Defects or constitute a breach of this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title Benefit which is discovered by Buyer or any of its representatives while conducting restrict Buyer's title review, due diligence or investigation ’s rights hereunder with respect to such Title Defect. Any matters that may otherwise constitute a Title Defect, but of which Seller has not been notified by Buyer in accordance with this Section 4.2(c) prior to the Leases or XxxxxDefect Notice Date, shall be deemed to have been waived by Buyer.

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 ’s reasonable opinion constitute a Title Defect with respect to Seller's ’s title to all or any portion of the Leases and Xxxxx (“Notice of Defective Interest”). The Notice of Defective Interest shall be in writing and contain the following: (i) a clear, complete and accurate description of the alleged Title Defect(s), (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect Defect(s) (each a “Title Defect Property”), (iii) the Allocated Value of each Lease or Well subject to the alleged Title Defect PropertyDefect(s), (iv) supporting documentation 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 ’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 preceding the calendar week then ending, which may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, that the failure of Buyer . Seller shall be deemed to give Seller any such preliminary notices shall not waive any have waived all Title Defects of which it has not given notice on or constitute a breach of this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title Benefit which is discovered by Buyer or any of its representatives while conducting Buyer's title review, due diligence or investigation with respect to before the Leases or XxxxxDefect Notice Date.

Notice of Defective Interest. On or before the Defect Notice Date, Buyer shall Transferee may formally advise Seller Transferor in writing of any matters that in Buyer's Transferee’s reasonable opinion constitute a Title Defect with respect to Seller's Transferor’s title to all or any portion of the Transferor Leases and Xxxxx Transferor Wxxxx (“Notice of Defective InterestInterests”). The Notice of Defective Interest Interests shall be in writing and contain the following: (i1) a clear, complete and accurate description of the alleged Title Defect(s), (ii2) the Transferor Leases or Xxxxx Transferor Wxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect Defect(s) (each a “Title Defect Property”), (iii3) the Transferor Allocated Value of each Transferor Lease or Transferor Well subject to the alleged Title Defect PropertyDefect(s), (iv4) supporting documentation documents reasonably necessary for Seller Transferor (as well as any title attorney or examiner hired by SellerTransferor) to verify the existence of the alleged Title Defect(s), and (v5) the amount by which Buyer Transferee reasonably believes the Transferor Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and the computations and information upon which Buyer's Transferee’s belief is based. To give Seller Transferor an opportunity to commence reviewing and curing Title Defects, Buyer Transferee agrees to use reasonable efforts to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, Transferor written notice of all Title Defects discovered by Buyer or any Transferee at the end of its representatives, each calendar week during the calendar week preceding the calendar week then endingDue Diligence Period; provided, which however, any such written notice may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, . Any matters that the failure of Buyer to give Seller any such preliminary notices shall not waive any Title Defects or may otherwise constitute a breach Title Defect, but of which Transferor has not been notified by Transferee in accordance with this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title Benefit which is discovered by Buyer or any of its representatives while conducting Buyer's title review, due diligence or investigation with respect Section 4.2(b) prior to the Leases or XxxxxDefect Notice Date, shall be deemed to have been waived by Transferee.

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”). The Notice of Defective Interest shall be in writing and contain the following: (i) a description of the 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 each Title Defect Property, (iv) supporting 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 (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 BuyerXxxxx'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 preceding the calendar week then ending, which may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, that the failure of Buyer to give Seller any such preliminary notices shall not waive any Title Defects or constitute a breach of this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title Benefit which is discovered by Buyer 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 Kxxx may formally advise Seller Emerald in writing of any matters that in Buyer's reasonable Kxxx’x opinion constitute a Title Defect with respect to Seller's Emerald’s title to all or any portion of the Emerald Leases and Xxxxx Emerald Wxxxx (“Notice of Defective InterestInterests”). The Notice of Defective Interest Interests shall be in writing and contain the following: (i1) a description of the alleged Title Defect(s), (ii2) a list of the Emerald Leases or Xxxxx Emerald Wxxxx (and the applicable zone(s) therein) considered by Kxxx to be affected by the alleged Title Defect Defect(s) (each a “Title Defect Property”), (iii3) the Allocated Value of each Emerald Lease or Emerald Well subject to the alleged Title Defect PropertyDefect(s), (iv4) supporting documentation documents reasonably necessary for Seller Emerald (as well as any title attorney or examiner hired by SellerEmerald) to verify the existence of the alleged Title Defect(s)) to the extent such supporting documents are in the possession of Kxxx, and (v5) the amount by which Buyer Kxxx 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 Kxxx’x belief is based. To give Seller Emerald an opportunity to commence reviewing and curing Title Defects, Buyer Kxxx agrees to use reasonable efforts to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, Emerald written notice of all Title Defects discovered by Buyer or Kxxx on an ongoing basis as soon as practicable following discovery of a given Title Defect; provided, however, any of its representatives, during the calendar week preceding the calendar week then ending, which such written notice may be preliminary in nature and supplemented prior to the Defect Notice Date. Any matters that may otherwise constitute a Title Defect, but of which Emerald has not been notified by Kxxx in accordance with this Section 4.2(b) prior to the Defect Notice Date, shall be deemed to have been waived by Kxxx; provided, provided however, that the failure of Buyer to give Seller any such preliminary notices waiver by Kxxx shall not waive any Title Defects or constitute a breach affect the special warranty of this Agreementtitle by, through, and under Emerald. Buyer shall also promptly furnish Seller with written notice of any Title Benefit 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.Execution Version

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 ’s reasonable opinion constitute a Title Defect with respect to Seller's ’s title to all or any portion of the Leases and Xxxxx (“Notice of Defective Interest”). The Notice of Defective Interest Interests shall be in writing and contain the following: (i) a clear, complete and accurate description of the alleged Title Defect(s), (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the alleged Title Defect Defect(s) (each a “Title Defect Property”), (iii) the Allocated Value of each Lease or Well subject to the alleged Title Defect PropertyDefect(s), (iv) supporting documentation 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 ’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 preceding the calendar week then ending, which may be preliminary in nature and supplemented prior to the Defect Notice Date; provided, however, that the failure of Buyer . Seller shall be deemed to give Seller any such preliminary notices shall not waive any have waived all Title Defects of which it has not given notice on or constitute a breach of this Agreement. Buyer shall also promptly furnish Seller with written notice of any Title Benefit which is discovered by Buyer or any of its representatives while conducting Buyer's title review, due diligence or investigation with respect to before the Leases or XxxxxDefect Notice Date.