Title Defects and Environmental Defects. The sum of (i) all Title Defect Amounts determined under Section 11.2(d)(i) prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, plus (ii) all Remediation Amounts for environmental defects determined under Article XII prior to the Closing, shall not exceed 15% of the Purchase Price.
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Samples: Purchase and Sale Agreement (Houston Exploration Co), Purchase and Sale Agreement (Houston Exploration Co)
Title Defects and Environmental Defects. The sum of (ia) all Title Defect Amounts determined under Section 11.2(d)(i) prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, plus (iib) all Remediation Amounts for environmental defects Environmental Defects determined under Article XII prior to the Closing, plus (c) the aggregate amount the Purchase Price is reduced in accordance with Section 11.4, shall not exceed be less than 15% of the Purchase Price.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Range Resources Corp)
Title Defects and Environmental Defects. The sum of (ia) all Title Defect Amounts determined under Section 11.2(d)(i11.2(g) prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, subject to the Individual Title Defect Deductible and the Title Deductible plus (iib) all Remediation Amounts for environmental defects Environmental Defects determined under Article XII prior to the Closing, subject to the Individual Environmental Defect Deductible and the Environmental Deductible, shall not exceed 15be less than 20% of the Purchase Price.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Vanguard Natural Resources, LLC)
Title Defects and Environmental Defects. The sum of (i) all Title Defect Amounts determined under Section 11.2(d)(i) less Title Benefit Amounts prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, plus (ii) all Remediation Amounts for environmental defects Environmental Defects determined under Article XII XIII prior to the Closing, shall not exceed 15% be less than ten percent (10%) of the Purchase Price.
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Title Defects and Environmental Defects. The sum of (i) all Title Defect Amounts determined under Section 11.2(d)(i) less Title Benefit Amounts prior to the Closing, less the sum of all Title Benefit Amounts determined under Section 11.2(b) prior to Closing, plus (ii) all Remediation Amounts for environmental defects Environmental Defects determined under Article XII XIII prior to the Closing, shall not exceed be less than fifteen percent (15% %) of the Purchase Price.
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