Common use of Title Benefit Notices Clause in Contracts

Title Benefit Notices. SM shall have the right, but not the obligation, to deliver to Mitsui on or before the Defect Claim Date, a notice setting forth any matters which, in SM’s reasonable opinion, constitute Title Benefits and which SM intends to assert as a Title Benefit pursuant to this Section 4.2 (each, a “Title Benefit Notice”) including (i) a description of the Title Benefit and the Conveyed Interests 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 Mitsui 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 Mitsui pursuant to Section 4.2(a), 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 Mitsui Buyers on or before the Defect Claim Date, a notice setting forth any matters whichthat, in SM’s reasonable opinion, constitute Title Benefits and which that SM intends to assert as a Title Benefit pursuant to this Section 4.2 6.2 (each, a “Title Benefit Notice”) including (i) a description of the Title Benefit and the Conveyed Interests 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 Mitsui 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 Mitsui Buyers pursuant to Section 4.2(a6.2(a), has not given notice on or before the Defect Claim Date.