Common use of Title Benefit Amount Clause in Contracts

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: (ia) if Buyer and Seller agree on the Title Benefit Amount, then that amount shall be the Title Benefit Amount; and (iib) if the Title Benefit represents a discrepancy between (Ai) the actual Net Revenue Interest for any Well or Well Location with respect to the Target Formation and (ii) the Net Revenue Interest for any Lease such Well or Well (or Location shown herein with respect to the specified zone(s) therein) and (B) the Net Revenue Interest stated in Exhibit A and Exhibit BTarget Formation, then the Title Benefit Amount shall be the product of (A) the Allocated Value of such Lease the affected Well or Well (or the specified zone(s) therein) Location multiplied by (B) a fraction, the numerator of which is the actual Net Revenue Interest increase with respect to the Target Formation and the denominator of which is the Net Revenue Interest stated in Exhibit A and Exhibit B.for such Well or Well Location with respect to the Target Formation shown herein, minus 1; and