Title Benefit Amount Sample Clauses

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (i) if Buyer and Seller agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; and (ii) if the Title Benefit represents a discrepancy between (A) the Net Revenue Interest for any Subject Well or Lease and (B) the Net Revenue Interest stated in Exhibit B (or, with respect to a Lease in Exhibit A-1, the Net Revenue Interest determined by subtracting the royalties, overriding royalties and other burdens shown on Exhibit A-1 for such Lease from 100%) and the Working Interest is not increased proportionately, then the Title Benefit Amount shall be the product of the Allocated Value of the Conveyed Interest attributable to the affected Subject Well or Lease multiplied by a fraction, the numerator of which is the Net Revenue Interest increase and the denominator of which is the Net Revenue Interest stated in Exhibit B (or, with respect to a Lease in Exhibit A-1, the Net Revenue Interest determined by subtracting the royalties, overriding royalties and other burdens shown on Exhibit A-1 for such Lease from 100%); provided that if the Net Revenue Interest increase does not affect the Subject Well or Lease throughout the entire life of the Subject Well or Lease, the Title Benefit Amount determined under this Section 11.2(h) shall be reduced to take into account the applicable time period only; and (iii) If the Title Benefit represents a discrepancy between (A) the Net Acres for any Lease and (B) the Net Acres for such Lease stated in Exhibit A-1, then the Title Benefit Amount shall be the product obtained by multiplying the positive difference between such Net Acres amounts by the Net Acre Allocation applicable to such Lease. The Title Carry Increase Amount resulting from a Title Benefit shall equal the same percentage of the Allocated Carry for each affected Lease that the Title Benefit Amount bears to the Allocated Value of such Lease.

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (a) if Buyer and Seller agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; (b) if the Title Benefit represents a discrepancy between (i) the actual Net Revenue Interest for any Well or Well Location with respect to the Target Formation and (ii) the Net Revenue Interest for such Well or Well Location shown herein with respect to the Target Formation, then the Title Benefit Amount shall be the product of (A) the Allocated Value of the affected Well or Well Location multiplied by (B) a fraction, the numerator of which is the actual Net Revenue Interest with respect to the Target Formation and the denominator of which is the Net Revenue Interest for such Well or Well Location with respect to the Target Formation shown herein, minus 1; and (c) if the Title Benefit cannot be calculated pursuant to subsections (a) or (b) above, then the Title Benefit Amount shall be determined by taking into account the Allocated Value of the subject Asset, the legal effect of the Title Benefit, the potential economic effect of the Title Benefit over the life of the subject Asset, the values placed upon the Title Benefit by Buyer and Seller and such other reasonable factors as are necessary to make a proper evaluation.

Title Benefit Amount. The “Title Benefit Amount” resulting from a Title Benefit shall be determined in accordance with the same methodology, terms, and conditions for determining the Title Defect Amount, with any necessary conforming changes, including giving effect to the Title Threshold and the Aggregate Deductible.

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (i) if Buyer and Seller agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; and (ii) if the Title Benefit represents a discrepancy between (A) the Net Revenue Interest for any Lease or Well (or the specified zone(s) therein) and (B) the Net Revenue Interest stated in Exhibit A and Exhibit B, then the Title Benefit Amount shall be the product of the Allocated Value of such Lease or Well (or the specified zone(s) therein) multiplied by a fraction, the numerator of which is the Net Revenue Interest increase and the denominator of which is the Net Revenue Interest stated in Exhibit A and Exhibit B.

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (i) if Buyer and Seller agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; and (ii) if the Title Benefit represents a benefit in title of a type not described above, the Title Benefit Amount shall be determined by taking into account the Allocated Value of the affected property, the portion of the subject property affected by the Title Benefit, the legal effect of the Title Benefit, the potential economic effect of the Title Benefit over the life of the subject property, the values placed upon the Title Benefit by Buyer and Seller and such other reasonable factors as are necessary to make a proper evaluation.

Title Benefit Amount. “Title Benefit Amount” means the amount determined in accordance with the following methodology, terms and conditions:

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the same methodology, terms and conditions for determining the Title Defect Amount. Any Title Benefit Amount shall be offset against any Title Defect Amount. In the event the Title Benefit Amounts exceeds the Title Defect Amounts then in no event shall there be any adjustments to the Purchase Price or other remedies provided by Buyer for any Title Benefit that exceeds the Individual Title Deductible unless the Title Benefit amounts of all such Title Benefits, in the aggregate, exceed the Aggregate Title Deductible, after which point Seller shall be entitled to an adjustment to the Purchase Price only with respect to Title Benefits in excess of such Aggregate Title Benefit Deductible.

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (A) if Buyer and the Sellers agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; (B) if the Title Benefit does not affect the ratio of the Net Revenue Interest to the Working Interest for any Title Benefit Property stated in Schedule B, then the Title Benefit Amount shall be the product of the Allocated Value of such Title Benefit Property multiplied by a fraction, the numerator of which is the decimal amount of the Net Revenue Interest increase and the denominator of which is the Net Revenue Interest stated in Schedule B; and (C) if the Title Benefit represents a benefit in title of a type not described above, the Title Benefit Amount shall be determined by taking into account the Allocated Value of the affected property, the portion of the subject property affected by the Title Benefit, the legal effect of the Title Benefit, the potential economic effect of the Title Benefit over the life of the subject property, the values placed upon the Title Benefit by Buyer and the Sellers and such other reasonable factors as are necessary to make a proper evaluation.

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (i) if Buyer and Seller agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; and (ii) if the Title Benefit represents a discrepancy between (A) the Net Revenue Interest for any Property (or the specified zone(s) therein) and (B) the Net Revenue Interest stated in Exhibit A, then the Title Benefit Amount shall be the product of the Allocated Value of the affected Property multiplied by a fraction, the numerator of which is the Net Revenue Interest increase and the denominator of which is the Net Revenue Interest stated in Exhibit A.

Title Benefit Amount. The Title Benefit Amount resulting from a Title Benefit shall be determined in accordance with the following methodology, terms and conditions: (i) if Buyer and Seller’s Representatives agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; (ii) if (A) the Title Benefit represents a discrepancy between (1) any Seller’s Net Revenue Interest with respect to any Target Formation for any Tract, Hypothetical DSU or Well and (2) such Seller’s Net Revenue Interest with respect to such Target Formation for such Tract, Hypothetical DSU or Well as set forth in Exhibits A-2 or A-1, as applicable, and (B) such Seller’s Working Interest with respect to such Target Formation for such Tract, Hypothetical DSU or Well is greater than such Seller’s Working Interest with respect to such Target Formation for such Tract, Hypothetical DSU or Well as set forth in Exhibits A-2 or A-1, as applicable, in the same proportion to such Net Revenue Interest decrease, then the Title Benefit Amount shall be the product of (1) the Allocated Value of such Title Benefit Property, multiplied by (2) a fraction, the (x) numerator of which is the Net Revenue Interest decrease with respect to such Target Formation for such Tract, Hypothetical DSU or Well, and (y) denominator of which is the Net Revenue Interest with respect to such Target Formation for such Tract, Hypothetical DSU or Well as set forth in Exhibits A-2 or A-1, as applicable; and (iii) if the Title Benefit is of a type not described above, then the Title Benefit Amounts shall be determined by taking into account the Allocated Value of the Title Benefit Property, the portion of the Title Benefit Property affected by such Title Benefit, the legal effect of the Title Benefit, the potential economic effect of the Title Benefit over the life of the Title Benefit Property, the values placed upon the Title Benefit by Buyer and Seller’s Representatives and such other reasonable factors as are necessary to make a proper evaluation.