Common use of Title Benefits Clause in Contracts

Title Benefits. (a) Should either Party discover any Title Benefit on or before the end of the Title Examination Period that would have a Title Benefit Amount greater than $25,000, Seller shall have the right, and Buyer shall have the obligation, to notify the other Party thereof on or before the end of the Title Examination Period, which notice shall include (i) a description of the Title Benefit(s), (ii) the Lease and/or Tract(s) affected (each “Title Benefit Property”), (iii) the Allocated Value of each Title Benefit Property, (iv) documentation sufficient to reasonably support the asserted Title Benefit(s), and (v) the amount by which the asserting Party reasonably believes the Allocated Value of each Title Benefit Property is increased by the alleged Title Benefit(s) and the computations and information upon which such Party’s belief is based.

Title Benefits. (a) Should either any Party discover any Title Benefit on or before the end of the Title Examination Period that would have a Title Benefit Amount greater than $25,00050,000 in the aggregate, each Seller shall have the right, and Buyer shall have the obligation, to notify Buyer or the other Party Seller Representative, as applicable, thereof on or before the end of the Title Examination Period, which notice shall include (i) a description of the Title Benefit(s), (ii) the Lease and/or Tract(s) Assets affected (each “Title Benefit Property”), (iii) the Allocated Value of each Title Benefit Property, (iv) documentation sufficient to reasonably support the asserted Title Benefit(s), and (v) the amount by which the asserting Party reasonably believes the Allocated Value of each Title Benefit Property is increased by the alleged Title Benefit(s) and the computations and information upon which such Party’s belief is based.