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 & Xxxxx, APLC.
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Examples of Defect Referee in a sentence

  • By: --------------------------------- Title: ------------------------------ Except as expressly supplemented, amended or consented to hereby, all of the representations and conditions of the Agreement will remain unamended and will continue to be in full force and effect.

  • The Defect Referee shall not have worked as an employee or outside counsel for any Party or any Affiliate of any Party during the ten (10) year period preceding the arbitration or have any financial interest in the dispute.

  • Additionally, the applicable Defect Referee may consult with and engage any disinterested Third Party to advise the Defect Referee, including title attorneys, petroleum engineers and environmental consultants.

  • If any asserted Defect is not cured or removed, or if Sellers’ Representative and Purchaser cannot agree as to whether such Defect has been cured or removed, and it is determined by the applicable Defect Referee that such Defect is not cured by the Cure Deadline, the Unadjusted Purchase Price shall be adjusted by the Defect Amount attributable to such Defect.

  • Additionally, the applicable Defect Referee may consult with and engage any disinterested Third Party to advise the Defect Referee, including title attorneys, petroleum engineers, and environmental consultants.

  • Alleged Defects shall be deemed to have been cured or removed if the Assets affected by such alleged Defect are free of such Defect as of the Cure Deadline, as agreed by the Parties or determined by the Defect Referee, as applicable.

  • Posted hours shall mean those hours listed on an employment authorization for a regular or leave replacement position.

  • Purchaser shall bear one-half of the fees, costs, and expenses of the applicable Defect Referee, and Sellers shall collectively be responsible for the remaining one-half of the fees, costs, and expenses of the applicable Defect Referee.

  • This prohibition applies regardless of whether District Water is diverted from a main ditch or lateral, taken from or impounded in a natural channel or drain, or is Waste, spill, seepage, runoff, or other water.

  • In making a determination, the applicable Defect Referee shall be bound by the rules set forth in this ‎Article 3 and may consider such other matters as in the opinion of the applicable Defect Referee are necessary or helpful to make a determination.


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 & Lewis, APLC.
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Defect Referee is defined in Section 8.7(b).
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Defect Referee has the meaning set forth in Section 2.5(g)(i).
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Defect Referee means the Title Referee or the Environmental Referee, as applicable. “Deposit” is defined in Section 2.3(a).
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Related to Defect Referee

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows:

  • Title Defect Notice shall have the meaning set forth in Section 11.2(a).

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

  • Title Defect as used herein shall mean any encumbrance, encroachment, irregularity, defect in or objection to Seller’s title to the Leases and Xxxxx (excluding Permitted Encumbrances) which would result in Seller not having Defensible Title.

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

  • 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.

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Environmental Defect Value means, with respect to any Environmental Defect, the value, as of the Closing Date, of the estimated costs and expenses to correct such Environmental Defect in the most cost-effective manner reasonably available, consistent with Environmental Laws, taking into account that non-permanent remedies (such as mechanisms to contain or stabilize hazardous materials, including monitoring site conditions, natural attenuation, risk-based corrective action, institutional controls or other appropriate restrictions on the use of property, caps, dikes, encapsulation, leachate collection systems, etc.) may be the most cost-effective manner reasonably available.

  • 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 Review Period shall have the meaning set forth in Section 4.3.

  • Minor defect means a defect which is not a Major Defect.

  • Claim Objection Deadline means the first Business Day that is 180 days after the Effective Date, as may be extended by order of the Bankruptcy Court.

  • 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.

  • Qualification Defect With respect to a Mortgage Loan, (a) a defective document in the Mortgage File, (b) the absence of a document in the Mortgage File, or (c) the breach of any representation, warranty or covenant with respect to the Mortgage Loan made by the Company, but, in each case, only if the affected Mortgage Loan would cease to qualify as a “qualified mortgage” for purposes of the REMIC Provisions.

  • 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).

  • Disputed Item has the meaning set forth in Section 2.04(b).

  • Title Objection shall have the meaning assigned thereto in Section 8.5.

  • Claims Objection Deadline means the deadline for objecting to a Claim against a Debtor, which shall be on the date that is the later of (a) 180 days after the Effective Date and (b) such other period of limitation as may be fixed by the Debtors or the Reorganized Debtors, as applicable, or by an order of the Court for objecting to such Claims.

  • Underlying Referencek means as set out in §26(a) above.