Common use of Remedies for Title Benefits Clause in Contracts

Remedies for Title Benefits. With respect to each Lease affected by Title Benefits reported under Section 11.2(b), as Seller’s sole and exclusive remedies for any Title Benefits, the amount (the “Title Benefit Amount”) equal to the increase in the Allocated Value for such Asset caused by such Title Benefits, as determined pursuant to Section 11.2(h), shall be applied as to offset the aggregate Title Defect Amounts attributable to Title Defects and the aggregate Remediation Amounts attributable to Environmental Defects.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Range Resources Corp)

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Remedies for Title Benefits. With respect to each Lease Title Benefit Property affected by Title Benefits reported under Section 11.2(b13.2(b), as Seller’s Sellers’ sole and exclusive remedies for any Title Benefits, the amount (the “Title Benefit Amount”) equal to the increase in the Allocated Value for such Asset caused by such Title Benefits, as determined pursuant to Section 11.2(h13.2(h) or Section 13.2(k), shall shall, if and only if such Title Benefit Amount is greater than the Individual Title Threshold, be applied as to offset the aggregate Title Defect Amounts attributable to Title Defects and the aggregate Remediation Amounts attributable pursuant to Environmental DefectsSection 13.2(i).

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Qep Resources, Inc.), Purchase and Sale Agreement (Qep Resources, Inc.)

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