Common use of Title Defect Notices Clause in Contracts

Title Defect Notices. On or before 4:00 p.m. (Mountain Time) on October 5, 2011 (the “Defect Claim Date”), Buyer shall deliver notices to Sellers meeting the requirements of this Section 4.2(a) (each, a “Title Defect Notice”) setting forth any matters which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect pursuant to this Section 4.2. For all purposes of this Agreement and notwithstanding anything herein to the contrary, Buyer shall be deemed to have waived, and Sellers shall have no liability for, any Title Defect that Buyer fails to assert as a Title Defect pursuant to a Title Defect Notice delivered in compliance with this Section 4.2(a) and received by Sellers on or before the Defect Claim Date. To be effective, each Title Defect Notice shall be in writing and shall include (i) a description of the alleged Title Defect and the Assets affected by such Title Defect (each a “Title Defect Property”), (ii) the Allocated Value of each Title Defect Property, (iii) supporting documents reasonably necessary for Sellers to verify the existence of the alleged Title Defect(s), (iv) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and (v) the computations upon which Buyer’s belief is based. To give PCM and Sellers an opportunity to commence reviewing and curing Title Defects, Buyer shall use reasonable efforts to notify Sellers of the status of alleged Title Defects discovered by Buyer, which notice may be preliminary in nature.

Title Defect Notices. On or before 4:00 p.m. (Mountain Time) on October 5, 2011 (the “applicable Title Defect Claim Date”), Buyer shall Xxxxx may deliver claim notices to Sellers Seller meeting the requirements of this Section 4.2(a11.2(a) (each, collectively the “Title Defect Notices” and individually a “Title Defect Notice”) setting forth any matters which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect pursuant to this Section 4.2Article XI. For all purposes of this Agreement and notwithstanding anything herein to the contrarycontrary (except as provided in Section 11.1 above), Buyer shall be deemed to have waived, and Sellers Seller shall have no liability for, any Title Defect that which Buyer fails to assert as a Title Defect pursuant to by a Title Defect Notice delivered in compliance with this Section 4.2(a) and received by Sellers Seller on or before the an applicable Title Defect Claim Date, provided that any breach of Section 4.7 or Section 4.25 which could also be a Title Defect may be resolved pursuant to Article XIII, or as a Title Defect pursuant to this Article XI, but not both, and, provided further, that any breach of Section 4.4 or Section 4.10 shall be resolved only pursuant to such section and may not be asserted as a Title Defect. To be effective, each Title Defect Notice shall be in writing writing, and shall include (i) a description of the alleged Title Defect and Defect(s), (ii) the Assets Subject Xxxxx or Leases affected by such the Title Defect (each a “Title Defect Property”), (iiiii) the Allocated Value and Allocated Carry of the Conveyed Interest in each Title Defect Property, (iiiiv) supporting documents available to Buyer reasonably necessary for Sellers Seller to verify the existence of the alleged Title Defect(s), (iv) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and (v) the computations upon which Buyer’s belief is based. To give PCM and Sellers an opportunity to commence reviewing and curing Title Defects, Buyer shall use reasonable efforts to notify Sellers of the status of alleged Title Defects discovered by Buyer, which notice may be preliminary in nature.and

Title Defect Notices. On or before 4:00 p.m. (Mountain Time) on October 5, 2011 (the “applicable Title Defect Claim Date”), Buyer shall may deliver claim notices to Sellers Seller meeting the requirements of this Section 4.2(a11.2(a) (each, collectively the “Title Defect Notices” and individually a “Title Defect Notice”) setting forth any matters which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect pursuant to this Section 4.2Article XI. For all purposes of this Agreement and notwithstanding anything herein to the contrarycontrary (except as provided in Section 11.1 above), Buyer shall be deemed to have waived, and Sellers Seller shall have no liability for, any Title Defect that which Buyer fails to assert as a Title Defect pursuant to by a Title Defect Notice delivered in compliance with this Section 4.2(a) and received by Sellers Seller on or before the an applicable Title Defect Claim Date, provided that any breach of Section 4.7 or Section 4.25 which could also be a Title Defect may be resolved pursuant to Article XIII, or as a Title Defect pursuant to this Article XI, but not both, and, provided further, that any breach of Section 4.4 or Section 4.10 shall be resolved only pursuant to such section and may not be asserted as a Title Defect. To be effective, each Title Defect Notice shall be in writing writing, and shall include (i) a description of the alleged Title Defect and Defect(s), (ii) the Assets Subject Xxxxx or Leases affected by such the Title Defect (each a “Title Defect Property”), (iiiii) the Allocated Value and Allocated Carry of the Conveyed Interest in each Title Defect Property, (iiiiv) supporting documents available to Buyer reasonably necessary for Sellers Seller to verify the existence of the alleged Title Defect(s), (iv) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and (v) the computations upon which Buyer’s belief is based. To give PCM and Sellers an opportunity to commence reviewing and curing Title Defects, Buyer shall use reasonable efforts to notify Sellers of the status of alleged Title Defects discovered by Buyer, which notice may be preliminary in nature.and

Title Defect Notices. On or before 4:00 p.m. ten (Mountain Time10) on October 5, 2011 days prior to Closing (the “Defect Title Claim Date”), Buyer shall must deliver claim notices to Sellers Company meeting the requirements of this Section 4.2(a2.05(b) (each, a “Title Defect Notice”) setting forth any matters which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect pursuant to this Section 4.22.05. For all purposes Except for a breach of Section 4.07(c), which shall not be limited by this Agreement and notwithstanding anything herein to the contrarysentence, Buyer shall be deemed to have waived, and the Sellers and the Company shall have no liability for, any Title Defect that which Buyer fails to assert as a Title Defect pursuant to by a Title Defect Notice delivered in compliance with this Section 4.2(a) and received by Sellers Company on or before the Defect Title Claim Date. To be effective, each Title Defect Notice shall be in writing writing, and shall include (iA) a description of the alleged Title Defect Defect(s), (B) the Well(s) (and the Assets applicable zone(s) therein) and/or other Oil and Gas Interests affected by such the Title Defect (each a “Title Defect Property”), (iiC) the Allocated Value of each Title Defect Property, (iiiD) supporting documents reasonably necessary for the Sellers to verify the existence of the alleged Title Defect(s), and (ivE) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and (v) the computations upon which Buyer’s belief is based. To give PCM and Sellers an opportunity to commence reviewing and curing Title Defects, Buyer shall use reasonable efforts to notify Sellers of the status of alleged Title Defects discovered by Buyer, which notice may be preliminary in nature.

Title Defect Notices. On or before 4:00 p.m. ten (Mountain Time10) on October 5, 2011 days prior to Closing (the “Defect Title Claim Date”), Buyer shall must deliver claim notices to Sellers Company meeting the requirements of this Section 4.2(a2.05(b) (each, a “Title Defect Notice”) setting forth any matters 16 which, in Buyer’s reasonable opinion, constitute Title Defects and which Buyer intends to assert as a Title Defect pursuant to this Section 4.22.05. For all purposes Except for a breach of Section 4.07(c), which shall not be limited by this Agreement and notwithstanding anything herein to the contrarysentence, Buyer shall be deemed to have waived, and the Sellers and the Company shall have no liability for, any Title Defect that which Buyer fails to assert as a Title Defect pursuant to by a Title Defect Notice delivered in compliance with this Section 4.2(a) and received by Sellers Company on or before the Defect Title Claim Date. To be effective, each Title Defect Notice shall be in writing writing, and shall include (iA) a description of the alleged Title Defect Defect(s), (B) the Well(s) (and the Assets applicable zone(s) therein) and/or other Oil and Gas Interests affected by such the Title Defect (each a “Title Defect Property”), (iiC) the Allocated Value of each Title Defect Property, (iiiD) supporting documents reasonably necessary for the Sellers to verify the existence of the alleged Title Defect(s), and (ivE) the amount by which Buyer reasonably believes the Allocated Value of each Title Defect Property is reduced by the alleged Title Defect(s) and (v) the computations upon which Buyer’s belief is based. To give PCM and Sellers an opportunity to commence reviewing and curing Title Defects, Buyer shall use reasonable efforts to notify Sellers of the status of alleged Title Defects discovered by Buyer, which notice may be preliminary in nature.