Defect Referee definition

Defect Referee means the Title Referee or the Environmental Referee, as applicable.
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Defect Referee is defined in Section 3.2(i)(i).
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Defect Referee means a title attorney with at least 15 years’ experience in oil and gas titles involving properties in the Gulf of Mexico mutually acceptable to both Purchaser and Seller; provided that, Purchaser and Seller shall first attempt to select such Defect Referee from Liskow & Lewis, APLC.
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Examples of Defect Referee in a sentence

  • If any asserted Defect is not cured or removed, or if Seller and Purchaser cannot agree as to whether such Defect has been cured, Remediated, or removed, and it is finally determined by the applicable Defect Referee in accordance with Section 3.2(i) that such Defect is not cured, Remediated, or removed by the Cure Deadline, the Unadjusted Purchase Price shall be adjusted by the Defect Amount attributable to such Defect.


More Definitions of Defect Referee

Defect Referee means a title attorney with at least 15 years’ experience in oil and gas titles involving properties in the Gulf of Mexico mutually acceptable to both Purchaser and Seller; provided that, Purchaser and Seller shall first attempt to select such Defect Referee from Liskow & Xxxxx, APLC.
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Defect Referee has the meaning set forth in Section 2.5(g)(i).
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Defect Referee is defined in Section 8.7(b).
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Related to Defect Referee

  • Defect Notice shall have the meaning specified in Section 3.2 of this Agreement.

  • Title Defect means with respect to a Lease any lien, encumbrance, adverse claim, default, expiration, failure, defect in or objection to real property title, other than Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ title to the Lease less than Defensible Title.

  • Title Defect Property has the meaning set forth in Section 6.2(a).

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.

  • Referee means a person who is designated as a referee under the friend of the court act.

  • Corrosion expert means a person who, by reason of thorough knowledge of the physical sciences and the principles of engineering and mathematics acquired by a professional education and related practical experience, is qualified to engage in the practice of corrosion control on buried or submerged metal piping systems and metal tanks. Such a person must be accredited or certified as being qualified by the National Association of Corrosion Engineers or be a registered professional engineer who has certification or licensing that includes education and experience in corrosion control of buried or submerged metal piping systems and metal tanks.

  • Construction defect means a deficiency in or a deficiency arising out of the design, specifications, surveying, planning, supervision, or observation of construction or construction of residential improvements that results from any of the following:

  • Accounting Referee has the meaning set forth in Section 6.01(c).

  • Title Benefit means Seller’s interest in any Subject Interest that is greater than or in addition to that set forth in Exhibit B (including, without limitation, a Net Revenue Interest that is greater than that set forth in Exhibit B) or Seller’s Working Interest in any Subject Interest that is less than the Working Interest set forth in Exhibit B (without a corresponding decrease in the Net Revenue Interest). Any matters that may otherwise constitute Title Benefits, but of which Buyer has not been specifically notified by Seller in accordance with the foregoing, shall be deemed to have been waived by Seller for all purposes.

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Neutral ’ means an individual who, with respect to an issue in controversy, functions specifically to aid the parties in resolving the controversy;

  • Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

  • Title Benefit Amount has the meaning set forth in Section 6.2(d).

  • Claims Objection Deadline means the later of: (a) the date that is 180 days after the Effective Date; and (b) such other date as may be fixed by the Bankruptcy Court, after notice and hearing, upon a motion Filed before the expiration of the deadline to object to Claims or Interests.