Termination Amount. Notwithstanding any provision hereof to the contrary, in the event the aggregate adjustments for Title Defects pursuant to this Article 10 and for Environmental Defects pursuant to Article 11 amount to twenty percent (20%) or more of the Adjusted Purchase Price (the "Termination Amount"), either Party shall have the option to terminate this Agreement, without any liability, upon written notice to the other Party.
Appears in 5 contracts
Samples: Purchase and Sale Agreement (Castle Energy Corp), Purchase and Sale Agreement (Delta Petroleum Corp/Co), Purchase and Sale Agreement (Castle Energy Corp)
Termination Amount. Notwithstanding any provision hereof to the contrary, in the event the aggregate adjustments for of the Title Defects pursuant Defect Amounts and the value of the properties and Interests rejected as provided in Section 11.12 below amounts to this Article 10 and for Environmental Defects pursuant to Article 11 amount to twenty percent (20%) % or more of the Adjusted Purchase Price (the "Termination Amount"), either Party shall have the option to terminate this Agreement, without any liability, upon written notice to the other Party.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Delta Petroleum Corp/Co), Purchase and Sale Agreement (Delta Petroleum Corp/Co)
Termination Amount. Notwithstanding any provision hereof to the contrary, in the event the aggregate adjustments for Title Defects pursuant to this Article 10 and for Environmental Defects pursuant to Article 11 amount to twenty fifteen percent (2015%) or more of the Adjusted Purchase Price (the "Termination Amount"), either Party shall have the option to terminate this Agreement, without any liability, upon written notice to the other Party.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Delta Petroleum Corp/Co), Purchase and Sale Agreement (Castle Energy Corp)
Termination Amount. Notwithstanding any provision hereof to the contrary, in the event the aggregate adjustments for Title Defects pursuant to this Article 10 and for Environmental Defects pursuant to Article 11 amount to twenty ten percent (2010%) or more of the Adjusted Purchase Price (the "Termination Amount"), either Party shall have the option to terminate this Agreement, without any liability, upon written notice to the other Party.
Appears in 1 contract