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Common use of Title Defect Clause in Contracts

Title Defect. As used in this Agreement, the term “Title Defect” means any Lien, obligation (including contract obligation), defect, or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller’s representation in Section 4.1(a) and that is not cured by Seller in the manner permitted by this Agreement. Notwithstanding the foregoing, the following shall not be considered Title Defects:

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Kodiak Oil & Gas Corp)

Title Defect. As used in this Agreement, the term "Title Defect" means any Lienlien, obligation (including contract charge, encumbrance, obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller’s 's representation and warranty in Section 4.1(a) and that is not cured by Seller in the manner permitted by this Agreement). Notwithstanding the foregoing, the following shall not be considered Title Defects:

Appears in 1 contract

Samples: Purchase and Sale Agreement (Empire Petroleum Corp)

Title Defect. As used in this Agreement, the term “Title Defect” means any Lienlien, charge, encumbrance, obligation (including contract obligation), defect, or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller’s representation in Section 4.1(a) and that is not cured by Seller in the manner permitted by this Agreement). Notwithstanding the foregoing, the following shall not be considered Title Defects:

Appears in 1 contract

Samples: Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Title Defect. As used in this Agreement, the term “Title Defect” means any Lienlien, charge, encumbrance, obligation (including contract obligation), defect, condition or other matter (including without limitation a discrepancy in Net Revenue Interest or Working Interest) that causes a breach of Seller’s 's representation and warranty in Section 4.1(a) and that is not cured by Seller in the manner permitted by this Agreement). Notwithstanding the foregoing, the following shall not be considered Title Defects:

Appears in 1 contract

Samples: Purchase and Sale Agreement (Petroleum Development Corp)