Defect Deductible definition

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

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.

Examples of Defect Deductible in a sentence

• The Purchase Price shall not be adjusted for value of any Addition Interest until the aggregate value of all Additional Interests equals or exceeds the Title Defect Deductible and in such event the increase in the Purchase Price shall be the aggregate amount of Additional Interests that exceed the Title Defect Deductible.

• The amount of the reduction in Purchase Price shall be the aggregate amount of Environmental Defect Values that exceed the Environmental Defect Deductible.

• The Purchase Price shall be adjusted downward for Title Defects only if and to the extent that the sum of (i) the aggregate value of all Title Defects and (ii) the aggregate value of all Environmental Defects exceeds the Defect Deductible (any reduction in the Purchase Price pursuant to this Section shall be in conjunction with the reduction in the Purchase Price in Section 5.2 C.

• If the sum of (i) the aggregate value of all Title Defects and (ii) the aggregate value of all Environmental Defects does not exceed the Defect Deductible, there shall be no adjustment to the Purchase Price, and Buyer will be deemed to have (i) accepted title to the Assets “AS IS WHERE IS,” and (ii) waived its right to assert any objection to title to the Assets.

• Upon Closing, if and to the extent the aggregate of all Environmental Defects exceeds the Environmental Defect Deductible, and subject to subsection 5.3 C below, Seller shall retain and pay, perform, fulfill and discharge all claims, cost, expenses, liabilities and obligations accruing or relating to and release Buyer from all Losses attributable to and relating to Environmental Defects for which Seller receives a timely Environmental Defect Notice (the "Retained Environmental Liabilities").

More Definitions of Defect Deductible

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

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

Defect Deductible means $11,000,000.

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

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

Defect Deductible is defined in Section 3.2(d).

Defect Deductible shall have the meaning given that term in Section 4.09. “Defensible Title” shall have the meaning given that term in Section 4.05.