Title Defect. “Title Defect” means any material encumbrance, defect in or objection to real property title, excluding Permitted Encumbrances, that renders Sellers’ title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute Title Defects:
Appears in 2 contracts
Samples: Asset Purchase Agreement (Contango Oil & Gas Co), Asset Purchase Agreement (Contango Oil & Gas Co)
Title Defect. “Title Defect” means any material encumbrance, defect in or objection to real property title, excluding Permitted Encumbrances, that renders Sellers’ Seller’s title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute Title Defects:
Appears in 2 contracts
Samples: Asset Purchase Agreement, Asset Purchase Agreement (Linn Energy, LLC)
Title Defect. “The term "Title Defect” " means any material lien, encumbrance, adverse claim, encroachment, defect in or objection to real property title, excluding Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ Seller's title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute be considered Title Defects:
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Title Defect. “The term "Title Defect” " means any material lien, encumbrance, claim, defect in or objection to real property title, excluding Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ Seller's title to the Asset (i) less than Defensible Title, and (ii) reduces the Allocated Value of the affected Asset. Notwithstanding the foregoing, the following shall not constitute be considered Title Defects:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Synergy Resources Corp)
Title Defect. The term “Title Defect” means any material encumbrance, encroachment, irregularity, defect in or objection to real property title, excluding Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ Seller’s title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute be considered Title Defects:
Appears in 1 contract
Title Defect. “The term "Title Defect” " means any material encumbrance, encroachment, irregularity, defect in or objection to real property title, excluding Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ Seller's title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute be considered Title Defects:
Appears in 1 contract
Title Defect. “Title Defect” means any material encumbrance, defect in or objection to real property title, excluding Permitted Encumbrances, that renders Sellers’ Seller’s title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute Title Defects:
Appears in 1 contract
Title Defect. “The term "Title Defect” " means any material encumbrance, encroachment, irregularity, defect in or objection to real property title, excluding Permitted Encumbrances, that renders Sellers’ title less than Defensible Title. Notwithstanding the foregoing, the following shall not constitute Title Defectsalone or in combination with other defects:
Appears in 1 contract
