Common use of Update Information Clause in Contracts

Update Information. At any time prior to the Closing, Sellers may supplement in writing any information furnished on the Disclosure Schedules to reflect post-signing developments and matters (which if not included on a Disclosure Schedule would constitute a breach of this Agreement by Sellers) by furnishing such supplemented information to Buyer pursuant to the notice provisions hereof. If (i) Sellers so furnish supplemental information, (ii) the absence of such information would have resulted in a breach of any representation or warranty under this Agreement and (iii) the Closing occurs, then such information shall be deemed to amend this Agreement and the Disclosure Schedules for all purposes hereunder, provided if such supplemental disclosure would result in Losses to the Companies in excess of $5,000,000 in the aggregate then Buyer may elect, by written notice to Sellers, to terminate this Agreement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Targa Resources Partners LP), Purchase and Sale Agreement (Targa Resources, Inc.)

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Update Information. At any time prior to the Closing, Sellers Seller may supplement in writing any information furnished on the Disclosure Schedules to reflect post-signing developments and matters (which if not included on a Disclosure Schedule would constitute a breach of this Agreement by SellersSeller) by furnishing such supplemented information to Buyer pursuant to the notice provisions hereof. If (i) Sellers Seller so furnish furnishes supplemental information, (ii) the absence of such information would have resulted in a breach of any representation or warranty under this Agreement and (iii) the Closing occurs, then such information shall be deemed to amend this Agreement and the Disclosure Schedules for all purposes hereunder, provided if such supplemental disclosure would result in Losses to the Companies in excess of $5,000,000 3,000,000 in the aggregate then Buyer may elect, by written notice to SellersSeller, to terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Targa Resources Partners LP)

Update Information. At any time prior to the Closing, Sellers Seller may supplement in writing any information furnished on the Disclosure Schedules to reflect post-signing developments and matters (which if not included on a Disclosure Schedule would constitute a breach of this Agreement by SellersSeller) by furnishing such supplemented information to Buyer pursuant to the notice provisions hereof. If (i) Sellers Seller so furnish furnishes supplemental information, (ii) the absence of such information would have resulted in a breach of any representation or warranty under this Agreement and (iii) the Closing occurs, then such information shall be deemed to amend this Agreement and the Disclosure Schedules for all purposes hereunder, provided if such supplemental disclosure would result in Losses to the Companies Company in excess of $5,000,000 2,000,000 in the aggregate then Buyer may elect, by written notice to SellersSeller, to terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Targa Resources Partners LP)

Update Information. At any time prior to the Closing, Sellers Seller may supplement in writing any information furnished on the Disclosure Schedules Schedule to reflect post-signing developments and matters (which if not included on a Disclosure Schedule would constitute a breach of this Agreement by SellersSeller) by furnishing such supplemented information to Buyer pursuant to the notice provisions hereof. If (ia) Sellers Seller so furnish furnishes supplemental information, (iib) the absence of such information would have resulted in a breach of any representation or warranty under this Agreement and (iiic) the Closing occurs, then such information shall be deemed to amend this Agreement and the Disclosure Schedules Schedule for all purposes hereunder, provided if such supplemental disclosure would result in Losses to the Companies in excess of $5,000,000 in the aggregate then Buyer may elect, by written notice to SellersSeller, to terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Targa Resources Partners LP)

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Update Information. At any time prior to the Closing, Sellers Seller may supplement and revise in writing any information furnished on the Disclosure Schedules Schedule to reflect post-signing developments and matters (which if not included on a Disclosure Schedule would constitute a breach of this Agreement by SellersSeller) by furnishing such supplemented information to Buyer pursuant to the notice provisions hereof. If (i) Sellers Seller so furnish furnishes supplemental information, (ii) the absence of such information would have resulted in a breach of any representation or warranty under this Agreement and (iii) the Closing occurs, then such information shall be deemed to amend this Agreement and the Disclosure Schedules Schedule for all purposes hereunder; provided, provided if such supplemental disclosure would result in Losses to the Companies Buyer or its Affiliates in excess of $5,000,000 in the aggregate then Buyer may elect, by written notice to SellersSeller, to terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (SemGroup Energy Partners, L.P.)

Update Information. At any time prior to the Closing, Sellers Seller may supplement and revise in writing any information furnished on the Disclosure Schedules Schedule to reflect post-signing developments and matters (which if not included on a Disclosure Schedule would constitute a breach of this Agreement by SellersSeller) by furnishing such supplemented information to Buyer pursuant to the notice provisions hereof. If (i) Sellers Seller so furnish furnishes supplemental information, (ii) the absence of such information would have resulted in a breach of any representation or warranty under this Agreement and (iii) the Closing occurs, then such information shall be deemed to amend this Agreement and the Disclosure Schedules Schedule for all purposes hereunder; provided, provided if such supplemental disclosure would could reasonably be expected to result in Losses to the Companies Buyer or its Affiliates in excess of $5,000,000 five percent (5%) of the Purchase Price in the aggregate then Buyer may elect, by written notice to SellersSeller, to terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (SemGroup Energy Partners, L.P.)

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