Common use of Title Benefit Notices Clause in Contracts

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. 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 ‎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”), (iii) the Allocated Value of the each Title Benefit Property, (iii) supporting documents reasonably necessary for Buyer to verify identify the existence of the alleged Title BenefitBenefit(s), (iv) the amount by which SM Energy reasonably believes the Allocated Value of the Title Benefit Property is increased by the Title Benefit 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 it, or Buyer pursuant to Section ‎6.2(b), has not given notice on or before the Defect Claim Date.