Common use of Seller’s Opportunity to Cure Clause in Contracts

Seller’s Opportunity to Cure. Seller shall have twenty (20) days after the expiration of the Title Examination Period, at its cost and expense, if it so elects but without obligation, to cure all or a portion of such asserted Title Defects. Any asserted Title Defects which are waived by Buyer or cured within such time shall be deemed “Permitted Encumbrances” hereunder. If Seller within such time fails to cure any Title Defect of which Buyer has given timely written notice as required above and Buyer has not and does not waive same on or before the day immediately preceding the Closing Date, the Property Subdivision affected by such uncured and unwaived Title Defect shall be a “Title Defect Property”.

Appears in 1 contract

Samples: Asset Purchase Agreement (Parsley Energy, Inc.)

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Seller’s Opportunity to Cure. Seller shall have twenty ten (2010) days after the expiration of the Title Examination Period, at its cost and expense, if it so elects but without obligation, to cure all or a portion of such asserted Title DefectsDefects at Seller’s sole cost and expense. Any asserted Title Defects which are waived by Buyer or cured within such time shall be deemed “Permitted Encumbrances” hereunder. If Seller within such time fails to cure any Title Defect of which Buyer has given timely written notice as required above and Buyer has not and does not waive same on or before the day immediately preceding the Closing Date, the Property Subdivision affected by such uncured and unwaived Title Defect shall be a “Title Defect Property”.

Appears in 1 contract

Samples: Asset Purchase Agreement (Chaparral Energy, Inc.)

Seller’s Opportunity to Cure. Seller Sellers shall have twenty thirty (2030) days after the expiration of the Title Examination Period, at its their cost and expense, if it they so elects elect but without obligation, to cure all or a portion of such asserted Title Defects. Any asserted Title Defects which are waived by Buyer or cured within such time shall be deemed “Permitted Encumbrances” hereunder. If Seller within such time fails frame Sellers fail to cure any Title Defect of which Buyer has given timely written notice as required above and Buyer has not and does not waive the same on or before the day immediately preceding the Closing Date, the Property Subdivision affected by such uncured and unwaived Title Defect shall be a “Title Defect Property..

Appears in 1 contract

Samples: Purchase and Sale Agreement (PDC Energy, Inc.)

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Seller’s Opportunity to Cure. Seller shall have twenty until two (202) days after prior to the expiration of the Title Examination PeriodClosing Date, at its cost and expense, if it so elects but without obligation, to cure all or a portion of such asserted Title Defects. Any asserted Title Defects which are waived by Buyer or cured within such time shall be deemed “Permitted Encumbrances” hereunder. If Seller within such time fails to cure any Title Defect of which Buyer has given timely written notice as required above and Buyer has not and does not waive same on or before the day immediately preceding the Closing Date, the Property Subdivision affected by such uncured and unwaived Title Defect shall be a “Title Defect Property”.

Appears in 1 contract

Samples: Asset Purchase Agreement (BreitBurn Energy Partners L.P.)

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