Notice of Title Benefits. Should Sellers discover any Title Benefit at any time on or prior to the Closing Date, Sellers shall promptly, but in no event later than the Closing Date, deliver to Purchasers a written notice (each a “Title Benefit Notice”) including:
(i) a description of the alleged Title Benefit;
(ii) the Mineral Interests or Well subject to such Title Benefit;
(iii) the Allocated Value of each Mineral Interest or Well subject to the alleged Title Benefit;
(iv) such discovering Party’s good faith reasonable estimate of the Title Benefit Amount attributable to such Title Benefit and the computations and information upon which such Party’s estimate is based; and
(v) such reasonable documentation for Purchasers to verify such Title Benefit which shall include, to the extent in the possession or control of any Sellers, (1) a copy of the relevant document to the extent the alleged Title Benefit is a document, (2) the deed or title opinion describing the Title Benefit in reasonable detail, to the extent the basis of the alleged Title Benefit is in a member of the Subject Company Group’s chain of title and (3) any other document reasonably necessary for the Purchasers or the Title Arbitration Panel to verify and confirm the existence of the Title Benefit Amount. The failure to include any of the items above shall not invalidate any Title Benefit claim if the Title Benefit Notice materially complies with these provisions and reasonably identifies the Title Benefit. SELLERS SHALL BE DEEMED TO HAVE WAIVED AND RELEASED, AND COVENANT THAT THEY SHALL WAIVE AND RELEASE, ANY AND ALL TITLE BENEFITS FOR WHICH PURCHASERS HAVE NOT RECEIVED, ON OR BEFORE THE CLOSING DATE, A VALID TITLE BENEFIT NOTICE.
Notice of Title Benefits. On or before the Defect Notice Date, Seller shall have the right, but not the obligation, to advise Buyer in writing of any matters that in Seller's reasonable opinion constitute a Title Benefit with respect to Seller's title to all or any portion of the Leases and Xxxxx (a “Title Benefit Notice”). The Title Benefit Notice shall be in writing and contain the following: (i) a description of the Title Benefit, (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the Title Benefit (“Title Benefit Property”), (iii) the Allocated Values of the Leases or Xxxxx (and the applicable zone(s) therein) subject to such Title Benefit, (iv) supporting documentation reasonably necessary for Buyer to verify the existence of the alleged Title Benefit, and (v) the amount by which the Seller reasonably believes the Allocated Value of those Leases or Xxxxx (and the applicable zone(s) therein) is increased by the Title Benefit, and the computations and information upon which Seller's belief is based. Seller shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Defect Notice Date.
Notice of Title Benefits. As a condition to Seller asserting any claim with respect to any alleged Title Benefit, Seller must deliver a valid Notice or Notices (each a “Title Benefit Notice”) with respect to such alleged Title Benefit to Purchaser on or before the Defect Deadline. In order to be a valid Title Benefit Notice as to each alleged Title Benefit, each such notice shall be in writing and must include:
(i) a description of the alleged Title Benefit;
(ii) a description of the Oil and Gas Properties subject to such alleged Title Benefit (the “Title Benefit Property”);
(iii) the Allocated Value of each Title Benefit Property; and
(iv) Seller’s good faith reasonable estimate of the Title Benefit Amount attributable to such Title Benefit and the computations and information upon which Seller’s estimate is based. As soon as practical after the delivery of a Title Benefit Notice, Seller shall provide such documentation, to the extent in Seller’s or its Affiliates’ possession or control, as is reasonably necessary to support Seller’s assertion and claim of such Title Benefit.
Notice of Title Benefits. On or before the Defect Notice Date, Laramie or Delta, shall have the right, but not the obligation, to advise the other Party in writing of any matters that in Laramie’s or Delta’s, as applicable, reasonable opinion constitute a Title Benefit with respect to Laramie’s or Delta’s, as applicable, title to all or any portion of its Leases and Xxxxx (a “Title Benefit Notice”). The Title Benefit Notice shall be in writing and contain the following: (i) a description of the Title Benefit, (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the Title Benefit (“Title Benefit Property”), (iii) the Allocated Values of the Leases or Xxxxx (and the applicable zone(s) therein) subject to such Title Benefit, and (iv) Laramie’s or Delta’s, as applicable, good faith estimate of the relevant Title Benefit Amount, and the computations and information upon which such estimate is based. Laramie or Delta shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Defect Notice Date.
Notice of Title Benefits. Buyer will promptly furnish Seller with written notice of any Title Benefit that is discovered by any of Buyer’s or any of its Affiliates’ employees, title attorneys, landmen or other title examiners while conducting Xxxxx’s Due Diligence Review prior to the Defect Notice Date. On or before the Defect Notice Date, Seller shall have the right, but not the obligation, to advise Buyer in writing of any matters that in Seller’s reasonable opinion constitute a Title Benefit with respect to Seller’s title to all or any portion of the Leases, Xxxxx and Units (a “
Notice of Title Benefits. Should Seller discover any Title Benefit at any time on or prior to the Cut-Off Date, Seller shall have the right, but not the obligation, on or before Cut-Off Date, to deliver to Purchaser a written notice (each a “Title Benefit Notice”) including:
(i) a description of the alleged Title Benefit;
(ii) the Oil and Gas Properties subject to such Title Benefit;
(iii) the Allocated Value of each Oil and Gas Property subject to the alleged Title Benefit;
(iv) Seller’s good faith reasonable estimate of the Title Benefit Amount attributable to such Title Benefit and the computations and information upon which such Party’s estimate is based; and
(v) all Reasonable Documentation in Seller’s or its Representatives’ possession or control supporting Seller’s assertion and claim of the alleged Title Benefit.
Notice of Title Benefits. As a condition to Seller asserting any alleged Title Benefit, Seller must deliver to Purchaser on or prior to the Benefit Deadline, a written notice (each a “Title Benefit Notice”) including:
(i) a description of the alleged Title Benefit;
(ii) a description of each Lease, Unit or Well subject to such alleged Title Benefit;
(iii) the Allocated Value of each Lease, Unit or Well subject to the alleged Title Benefit;
(iv) Seller’s good faith reasonable estimate of the Title Benefit Amount attributable to such Title Benefit and the computations and information upon which Seller’s estimate is based; and
(v) providing, in all material respects, Reasonable Documentation in Seller’s or any member of the Company Group’s possession or control supporting Seller’s assertion and claim of such Title Benefits.
Notice of Title Benefits. On or before the Defect Notice Date, Seller shall have the right, but not the obligation, to advise Buyer in writing of any matters that in Seller’s reasonable opinion constitute a Title Benefit with respect to Seller’s title to all or any portion of the Leases and Xxxxx (a “Title Benefit Notice”). The Title Benefit Notice shall be in writing and contain the following: (i) a description of the Title Benefit, (ii) the Leases or Xxxxx (and the applicable zone(s) therein) affected by the Title Benefit, (iii) the Allocated Values of the Leases or Xxxxx (and the applicable zone(s) therein) subject to such Title Benefit, and (iv) the amount by which the Seller reasonably believes the Allocated Value of those Leases or Xxxxx (and the applicable zone(s) therein) is increased by the Title Benefit, and the computations and information upon which Seller’s belief is based. Seller shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Defect Notice Date.
Notice of Title Benefits. On or before the Defect Notice Date, Buyer shall provide Seller (if Buyer has Knowledge of any Title Benefits) and Seller shall have the right (but not the obligation) to provide Buyer with a Title Benefit Notice. The Title Benefit Notice shall be in writing and contain the following with respect to each Title Benefit:
(i) a description of the Title Benefit;
(ii) the Title Benefit Property;
(iii) the Allocated Value of the Title Benefit Property;
(iv) supporting documents reasonably evidencing the existence of any such Title Benefit; and
(v) the Title Benefit Amount which a Party reasonably believes the Allocated Value of such Title Benefit Property is increased by the Title Benefit, and the computations and information upon which the Party’s belief is based.
Notice of Title Benefits. Should Seller discover any Title Benefit at any time on or prior to the Defect Deadline, Seller shall promptly, but in no event later than the Defect Deadline, deliver to Purchaser a written notice (each a “Title Benefit Notice”) including:
(1) a description of the alleged Title Benefit;
(2) the Lease, Well or Future Location and the Subject Formation(s) subject to such alleged Title Benefit;
(3) the Allocated Value of the Well, Lease or Future Location subject to such alleged Title Benefit;
