Common use of Title Defects and Environmental Defects Clause in Contracts

Title Defects and Environmental Defects. The sum of (i) the sum of all Title Defect Amounts determined under Section 11.2(d)(i) and/or the Allocated Value of each Asset excluded under Section 11.2(d)(ii) prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, plus (ii) the sum of all Remediation Amounts for Environmental Defects determined under Article XII prior to the Closing and/or the Allocated Value of each Asset excluded under Section 12.1(b)(iii), plus (iii) the sum of the Allocated Value of each Asset excluded by Seller under Section 11.4 from the Assets shall be less than twenty percent (20%) of the Purchase Price.

Title Defects and Environmental Defects. The sum of (i) the sum of all Title Defect Amounts determined under Section 11.2(d)(i) and/or the Allocated Value Values of each Asset the Assets excluded under Section 11.2(d)(ii) prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, plus (ii) the sum of all Remediation Amounts for Environmental Defects determined under Article XII prior to the Closing and/or the Allocated Value Values of each Asset the Assets excluded under Section 12.1(b)(iii)) prior to the Closing, plus (iii) the sum of the Allocated Value of each Asset excluded by Seller under Section 11.4 from the Assets shall be less than twenty percent (20%) of the Purchase Price.