Title Benefit Notices. Seller shall have the right, but not the obligation, to deliver to Buyer on or before the Title Claim Date with respect to each Title Benefit a notice (a “Title Benefit Notice”) including (i) a description of the Title Benefit, (ii) the Leases and Xxxxx (and the applicable zone(s) therein) affected by the Title Benefit, and (iii) the amount by which Seller reasonably believes the Allocated Value of those Leases and Xxxxx (and the applicable zone(s) therein) is increased by the Title Benefit, and the computations upon which Seller’s belief is based. Except for purposes of defending against or paying any claim that Seller has breached its special warranty of title under Section 11.1(c), Seller shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Title Claim Date.
Title Benefit Notices. In addition to any Title Benefits reported by Buyer pursuant to Section 11.2(a), Seller shall have the right, but not the obligation, to deliver to Buyer on or before the Title Defect Claim Date with respect to each Title Benefit a notice setting forth any additional matters that in Seller’s reasonable opinion constitute Title Benefits and which Seller intends to assert as Title Benefits pursuant to this Article XI (each, a “Title Benefit Notice”). To be effective, each Title Benefit Notice shall be in writing and shall include (i) a description of the alleged Title Benefit, (ii) the Leases affected by the Title Benefit, (iii) supporting documents available to Seller reasonably necessary for Buyer to verify the existence of the alleged Title Benefit, and (iv) the amount by which Seller reasonably believes the Allocated Value of each affected Lease is increased by the Title Benefit and the computations upon which Seller’s belief is based. Except for Title Benefits which Buyer is required to report to Seller pursuant to Section 11.2(a), Seller shall be deemed to have waived, and none of Buyer or any of the Buyer Indemnified Parties shall have any liability for, any Title Benefit for which Buyer has not received notice on or before the Title Defect Claim Date.
Title Benefit Notices. SM Energy shall have the right, but not the obligation, to deliver to Buyer on or before the Defect Claim Date, a notice setting forth any matters that, in SM Energy’s reasonable opinion, constitute Title Benefits and that SM Energy asserts as a Title Benefit pursuant to this Section 6.2 (each, a “Title Benefit Notice”) including (i) a description of the Title Benefit and the Assets affected by the Title Benefit (the “Title Benefit Property”), (ii) the Allocated Value of the Title Benefit Property, (iii) supporting documents reasonably for Buyer to verify the existence of the alleged Title Benefit, (iv) the amount by which SM Energy reasonably believes the Allocated Value of the Title Benefit Property is increased by the Title Benefit and (v) the computations upon which SM Energy’s belief is based. SM Energy shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Defect Claim Date.
Title Benefit Notices. Seller shall have the right, but not the obligation, to deliver to Buyer on or before the Defect Claim Date with respect to each Title Benefit a notice (a “Title Benefit Notice”) including (a) a description of the Title Benefit, (b) the Xxxxx and Well Locations affected by the Title Benefit, and (c) the amount by which Seller reasonably believes the Allocated Value of those Xxxxx and Well Locations is increased by the Title Benefit, and the computations upon which Seller’s belief is based. Seller shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Defect Claim Date.
Title Benefit Notices. SM shall have the right, but not the obligation, to deliver to Buyers on or before the Defect Claim Date, a notice setting forth any matters that, in SM’s reasonable opinion, constitute Title Benefits and that SM intends to assert as a Title Benefit pursuant to this Section 6.2 (each, a “Title Benefit Notice”) including (i) a description of the Title Benefit and the Assets affected by the Title Benefit (the “Title Benefit Property”), (ii) the amount by which SM reasonably believes the Allocated Value of the Title Benefit Property is increased by the Title Benefit, (iii) supporting documents available to SM reasonably necessary for Buyers to verify the existence of the alleged Title Benefit(s) and (iv) the computations upon which SM’s belief is based. SM shall be deemed to have waived all Title Benefits of which it, or Buyers pursuant to Section 6.2(a), has not given notice on or before the Defect Claim Date.
Title Benefit Notices. Seller shall have the right, but not the obligation, to deliver to Buyer on or before the Title Claim Date with respect to each Title Benefit a notice (a “Title Benefit Notice”) including (i) a description of the Title Benefit and the Assets affected by the Title Benefit, and (ii) the amount by which Seller reasonably believes the Allocated Value of such Assets is increased by the Title Benefit and the computations upon which Seller’s belief is based.
Title Benefit Notices. In addition to any Title Benefits reported by BG pursuant to Section 11.2(a), EXCO shall have the right, but not the obligation, to deliver to BG on or before the Title Defect Claim Date a notice setting forth any additional matters which, in EXCO’s reasonable opinion, constitute Title Benefits and which EXCO intends to assert as Title Benefits pursuant to this Article XI (each, a “Title Benefit Notice”). To be effective, each Title Benefit Notice shall be in writing, and shall include (i) a description of the Title Benefit, (ii) the Warranty Xxxxx or Leases affected by the Title Benefit, (iii) supporting documents available to EXCO reasonably necessary for BG to verify the existence of the alleged Title Benefit and (iv) the amount by which EXCO reasonably believes the Allocated Value and Allocated Carry of the Subject Interest in each affected Lease is increased by the alleged Title Benefit and the computations upon which EXCO’s belief is based. Other than Title Benefits which BG is required to report to EXCO pursuant to Section 11.2(a), EXCO shall be deemed to have waived all Title Benefits of which it has not given notice on or before the Title Defect Claim Date.
Title Benefit Notices. Quicksilver shall have the right, but not the obligation, to deliver to BreitBurn on or before the Title Claim Date with respect to each Title Benefit a notice (a “Title Benefit Notice”) including (i) a description of the Title Benefit, (ii) the Xxxxx or well location(s) (and the applicable zone(s) therein) and/or other Acquired Assets affected by the Title Benefit, and (iii) the amount by which Quicksilver reasonably believes the Preliminary Allocated Value of those Well(s) or well location(s) (and the applicable zone(s) therein) and/or other Acquired Assets have increased by the Title Benefit, and the computations upon which Quicksilver’s belief is based.
Title Benefit Notices. If Buyer discovers any Title Benefit, it shall promptly deliver notice to Seller’s Representatives prior to the Title Claim Date. Seller’s Representatives shall have the right, but not the obligation, to deliver to Buyer on or before a time that is at least 24 hours prior to the Title Claim Date with respect to each Title Benefit a notice (a “Title Benefit Notice”) including (i) a description of the alleged Title Benefit and a description of the Asset and/or associated Tract or Hypothetical DSU, or portion thereof, affected by such Title Benefit (each a “Title Benefit Property”), (ii) the Allocated Value of each such Title Benefit Property, (iii) supporting documents, to the extent in Sellers’, its Affiliate’s, or its Third Party contractor’s possession, reasonably necessary for Buyer to verify the existence of such Title Benefit, (iv) the amount by which Seller’s Representatives reasonably believe the Allocated Value of such Title Benefit Property is increased by the Title Benefit and the computations upon which Seller’s Representatives’ belief is based, and (v) if applicable, each Seller whose interest is affected by such Title Benefit.
Title Benefit Notices. The Agent shall have the right, but not the obligation, to deliver to Buyer on or before the Defect Claim Date with respect to each Title Benefit a notice (a “Title Benefit Notice”) including (i) a description of the alleged Title Benefit and the Asset, or portion thereof, affected by such alleged Title Benefit (each a “Title Benefit Property”), and (ii) the amount by which the Agent reasonably believes the Allocated Value of such Title Benefit Property is increased by such alleged Title Benefit and the computations upon which the Agent’s belief is based. Sellers shall be deemed to have waived all Title Benefits for which a Title Benefit Notice has not been delivered by the Agent on or before the Defect Claim Date.
