Common use of Other Defects Clause in Contracts

Other Defects. If the Defect is of a type not described in Sections 5.3(a) through (c), then the Defect Value thereof shall be determined by taking into account the Allocated Value of the Purchased Asset so affected, the portion of Seller’s interest in the Purchased Asset affected by the Defect, the legal effect of the Defect, the potential economic effect of the Defect over the life of the affected Purchased Asset, the values placed upon the Defect by Seller and Buyer and such other factors as are necessary to make a proper evaluation.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Penn Virginia Corp), Purchase and Sale Agreement (Penn Virginia Corp), Purchase and Sale Agreement (Penn Virginia Corp)

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Other Defects. If the Defect is not of a type not described in Sections 5.3(a) through (c), then the Defect Value thereof shall be determined by taking into account the Allocated Value of the Purchased Asset so affected, the portion of Seller’s Sellers’ interest in the Purchased Asset affected by the Defect, the legal effect of the Defect, the potential economic effect of the Defect over the life of the affected Purchased Asset, the values placed upon the Defect by Seller Sellers and Buyer and such other factors as are necessary to make a proper evaluation.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Penn Virginia Corp)

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