Seller's Right to Cure Defects and Effect of Failure to Cure Sample Clauses

Seller's Right to Cure Defects and Effect of Failure to Cure. The Parties may jointly agree before Closing that certain Leases have Defects that Seller does not wish to cure and, in such event, the leases suffering these agreed Defects will be excluded from the Assignment, Xxxx of Sale and Conveyance that is delivered at Closing and the Purchase Price will be reduced by $3,500 for each net mineral acre that originally had been anticipated would be covered by such excluded leases, as shown on the annexed Exhibit F. As to all other Defects as to which Synergy provides Seller timely notice, Seller will have the right, but not the obligation, to cure or remediate the remaining Defects at its sole cost and expense during the period ending at 10:00 a.m. on November 23, 2012. If Seller fails adequately to cure or remediate any such Defect within that period, then the leases suffering these uncured or un-remediated Defects will be excluded from the Assignment, Xxxx of Sale and Conveyance that is delivered at Closing and the Purchase Price will be reduced by $3,500 for each net mineral acre that originally had been anticipated would be covered by such excluded leases. Notwithstanding the above, the reduction in the Purchase Price for any Defect with respect to the Xxxxx lease, (which covers the SENE of Section 22; the S2NW and S2 Section 23; the S2S2 of Section 24; and the E2 and part of NW4 Section 26, all in Township 10 North, Range 61 West, Weld County) will be $ 1,000 for each net mineral acre ARTICLE V COVENANTS AND AGREEMENTS