Title Defects. An Asset shall be deemed to have a “Title Defect”: (a) if Seller is found to have less than Defensible Title thereto, without duplication. For purposes of this Agreement, the term “Defensible Title” shall mean such title of Seller that, subject to and except for the Permitted Encumbrances:
Appears in 4 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Cubic Energy Inc), Purchase and Sale Agreement (Gastar Exploration USA, Inc.)
Title Defects. An Asset A Property shall be deemed to have a “Title Defect”:
(a) ” if Seller is found to have less than Defensible Title thereto, without duplication. For purposes of this Agreement, the term “Defensible Title” shall mean such record title of Seller that, subject to and except for the Permitted Encumbrances:
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Ustx, LLC), Purchase and Sale Agreement (Boaz Energy II, LLC)
Title Defects. An Asset shall be deemed to have a “"Title Defect”:
(a) " if Seller is found to have has less than Defensible Title thereto, without duplication(as hereinafter defined) in any material respect. For purposes of this Agreement, the term “"Defensible Title” shall mean such title of Seller " means that, subject to and except for the Permitted Encumbrances:Encumbrances (as hereinafter defined):
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