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

Seller’s Right to Cure. Seller shall have the right, but not the obligation, to attempt, at its sole cost, to cure at any time prior to Closing (the “Cure Period”), any Title Defects of which it has been advised by Buyer. If Seller believes that it has cured any applicable Title Defect, Seller shall deliver written notice thereof to Buyer, together with supporting documents reasonably necessary for Buyer (as well as any title attorney or examiner hired by Buyer) to verify the cure of such Title Defect. Buyer shall, at or prior to the end of the Cure Period, advise Seller in writing whether it agrees or disputes that any such Title Defect has been so cured; provided that Buyer’s failure to timely respond to Seller’s notice of cure shall be deemed Buyer’s agreement that such Title Defect has been cured and Buyer’s waiver of its Claim with respect to such Title Defect. If Buyer timely notifies Seller of a dispute as to Seller’s attempted cure of any Title Defect, then (subject to Section 3.9), the provisions of Section 3.15 shall apply to such Title Defect.

Appears in 3 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (EP Energy LLC), Purchase and Sale Agreement (Atlas Resource Partners, L.P.)

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Seller’s Right to Cure. Seller shall have the right, but not the obligation, to attempt, or cause Company to attempt, at its Seller’s sole cost, to cure at any time prior to Closing (the “Cure Period”), any Title Defects of which it has have been advised timely and properly asserted by BuyerBuyer in accordance with Section 3.5. If Seller believes that it Company has cured any applicable Title Defect, Seller shall deliver written notice thereof to Buyer, together with supporting documents reasonably necessary for Buyer (as well as any title attorney or examiner hired by Buyer) to verify the cure of such Title Defect. Buyer shall, at or prior to the end of the Cure Period, advise Seller in writing whether it agrees or disputes that any such Title Defect has been so cured; provided that Buyer’s failure to timely respond to Seller’s notice of cure shall be deemed Buyer’s agreement that such Title Defect has been cured and Buyer’s waiver of its Claim with respect to such Title Defect. If Buyer timely notifies Seller of a dispute as to Seller’s attempted cure of any Title Defect, then (subject to Section 3.93.8), the provisions of Section 3.15 3.14 shall apply to such Title Defect.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Atlas Energy Group, LLC)

Seller’s Right to Cure. Seller shall have the right, but not the obligation, to attempt, at its sole cost, to cure at any time prior to Closing January 15, 2014 (the “Cure PeriodDeadline”), any Title Defects of which it has been advised by Buyer. Buyer shall afford to Seller and its officers, employees, agents, attorneys and other authorized representatives full access, during normal business hours and upon reasonable notice, to the Assets and all Records and other documents in Buyer’s or its Affiliates’, and shall use commercially reasonable efforts to provide access to any third party operators’, possession relating primarily to the Assets. If Seller believes that it has cured any applicable Title Defect, Seller shall deliver written notice thereof to Buyer, together with supporting documents available to Seller and reasonably necessary for Buyer (as well as any title attorney or examiner hired by Buyer) to verify the cure of that such Title DefectDefect has been cured. Buyer shall, at or prior to the end of the Cure PeriodDeadline, advise Seller in writing whether it agrees or disputes that any such Title Defect has been so cured; provided that Buyer’s failure to timely respond to Seller’s notice of cure shall be deemed Buyer’s agreement that such Title Defect has been cured and Buyer’s waiver of its Claim with respect to such Title Defect. If Buyer fails to notify Seller or timely notifies Seller of a dispute as to Seller’s attempted cure of any Title Defect, then (subject to Section 3.93.3), the provisions of Section 3.15 3.8 shall apply to such Title Defect.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Emerald Oil, Inc.)

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Seller’s Right to Cure. Seller shall have the right, but not the obligation, to attempt, at its sole cost, to cure at any time prior to Closing (the “Cure Period”), any Title Defects of which it has been advised by BuyerXxxxx. If Seller Xxxxxx believes that it has cured any applicable Title Defect, Seller shall deliver written notice thereof to Buyer, together with supporting documents reasonably necessary for Buyer Xxxxx (as well as any title attorney or examiner hired by BuyerXxxxx) to verify the cure of such Title Defect. Buyer shall, at or prior to the end of the Cure Period, advise Seller in writing whether it agrees or disputes that any such Title Defect has been so cured; provided that Buyer’s failure to timely respond to Seller’s notice of cure shall be deemed Buyer’s agreement that such Title Defect has been cured and BuyerXxxxx’s waiver of its Claim with respect to such Title Defect. If Buyer timely notifies Seller of a dispute as to SellerXxxxxx’s attempted cure of any Title Defect, then (subject to Section 3.9), the provisions of Section 3.15 shall apply to such Title Defect.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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