Defect Deductible definition

Defect Deductible shall have the meaning given that term in Section 4.09.

Defect Deductible means an amount equal to two percent (2%) of the Unadjusted Purchase Price.

Defect Deductible has the meaning provided such term in Section 7.7.

Examples of Defect Deductible in a sentence

• In the event that the aggregate of all such Environmental Defect Amounts in excess of the Individual Environmental Defect Threshold exceeds the Aggregate Environmental Defect Deductible, the adjustment to the Purchase Price shall only be for the amount by which the total of all such Environmental Defect Amounts exceeds the Aggregate Environmental Defect Deductible.

• In the event that the aggregate of all such Title Defect Amounts in excess of the Individual Title Defect Threshold exceeds the Aggregate Title Defect Deductible, the adjustment to the Purchase Price shall only be for the amount by which the total of all such Title Defect Amounts exceeds the Aggregate Title Defect Deductible.

• No adjustments have been made to the weighted average outstanding common shares figures for the years ended December 31, 2022 or 2021 as the assumed exercise of outstanding options, warrants and restricted stock units would be anti-dilutive.

• If the Environmental Expert determines there is an Environmental Defect, and the amount of such Defect exceeds the Individual Environmental Defect Threshold and the amount of all Environmental Defects exceeds the Environmental Defect Deductible, Seller shall indemnify Buyer against all liability, loss, cost and expense resulting from such Environmental Defect in excess of the Defect Threshold to the extent the aggregate of all Environmental Defect Amounts exceeds the Environmental Defect Deductible.

• If the Environmental Expert determines there is no Environmental Defect, or the Environmental Defect Amount is less than the Individual Environmental Defect Threshold or the aggregate of all Environmental Defect Amounts does not exceed the Environmental Defect Deductible, Buyer shall be responsible for its working interest share of all costs and expenses to remove or cure the Environmental Defect (s).

More Definitions of Defect Deductible

Defect Deductible means $11,000,000.

Defect Deductible means an amount equal to one and one-half percent (1.5%) of the Base Purchase Price.

Defect Deductible means an amount equal to three percent (3%) of the Unadjusted Purchase Price.

Defect Deductible means an amount equal to three percent (3.0%) of the Base Purchase Price.

Defect Deductible means four percent (4%) of the Base Purchase Price.

Defect Deductible means one percent (1.0%) of the unadjusted Purchase Price.

Defect Deductible is defined in Section 3.2(d).