Minor Title Defects definition

Minor Title Defects means, with respect to any Borrowing Base Property, minor defects or irregularities in the title of the Borrower or any Material Subsidiary to such Borrowing Base Property which do not in aggregate materially adversely affect the marketability of that title or the right of the Borrower or any Material Subsidiary to receive its share of the production generated by such Borrowing Base Property or the income derived therefrom.
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Minor Title Defects in respect of any parcel of Land means encroachments, restrictions, easements, rights-of-way, servitudes and defects or irregularities in the title to such Land which are of a minor nature and, in the case of Land material to the operation of the Business of the Companies taken as a whole, which, in the aggregate, will not materially impair the use of such Land for the purposes for which such Land is held by the owner thereof; it is acknowledged that the Project Property is material to the operation of the Business of the Companies taken as a whole.
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Minor Title Defects means title defects or irregularities which are of a minor nature and in the aggregate will not substantially impair the use of the property affected by such title defect or irregularity for the purposes for which it is held by the owner thereof, nor substantially diminish any Security Interests for the benefit of the Administrative Agent and the Lenders thereon.
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Examples of Minor Title Defects in a sentence

  • The Borrower and the Guarantors have good and valid title to all Borrowing Base Properties, subject only to Permitted Encumbrances and Minor Title Defects.

  • The Borrower and the Material Subsidiaries have good and valid title to all Borrowing Base Properties, subject only to Permitted Encumbrances and Minor Title Defects.

  • The Borrower shall, upon becoming aware of the existence of any title defect (other than Minor Title Defects) affecting Borrowing Base Properties that have or may be reasonably be expected to have a materially negative effect on the security position of the Agent and the Lenders, give the Agent prompt written notice of such title defect.

  • The Borrower shall, upon becoming aware of the existence of any title defect (other than a Minor Title Defects) affecting Borrowing Base Properties that have or may be reasonably be expected to have a materially negative effect on the security position of the Agent and the Lenders, give the Agent prompt written notice of such title defect.

  • The Borrower and each Material Subsidiary has good and valid title to all of its Borrowing Base Properties, subject only to Permitted Liens and Minor Title Defects.

  • The Company and each Material Subsidiary has good and valid title to all of its P&NG Rights and Oil and Gas Properties, subject only to Permitted Liens and Minor Title Defects, except as would not reasonably be expected to materially and adversely affect the value of the Collateral, taken as a whole.

  • The General Partner has good and valid title to all of its rights, properties and assets that it holds in its capacity as general partner of the Borrower in trust for and on behalf of the Borrower, subject only to Permitted Liens and Minor Title Defects.

  • The Issuer and each Material Subsidiary has good and valid title to all of its P&NG Rights and Oil and Gas Properties, subject only to Permitted Liens and Minor Title Defects, except as would not reasonably be expected to materially and adversely affect the value of the Collateral, taken as a whole.


More Definitions of Minor Title Defects

Minor Title Defects in respect of any parcel of real property means encroachments, restrictions, easements, rights-of-way, servitudes and defects or irregularities in the title to such real property which are of a minor nature and which, in the aggregate, will not materially impair the use of such Land for the purposes for which such real property is held by the owner thereof.
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Minor Title Defects. - means title defects or irregularities which are of a minor nature and in the aggregate will not substantially impair the use of the property affected by such title defect or irregularity for the purposes for which it is held by the owner thereof, nor substantially diminish any Liens thereon.
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Minor Title Defects means title defects, zoning restrictions, servitudes or other restrictions or title irregularities which are of a minor nature and in the aggregate will not substantially impair the use of the property affected by such title defect or irregularity for the purposes for which it is held by the owner thereof, nor substantially diminish any Lien for the benefit of the Agent and the Lenders thereon. 1.1.123 “Multiemployer Plan” – means a multiemployer plan defined as such in Section 3(37) of ERISA to which contributions have been made by any Obligor or any ERISA Affiliate and which is covered by Title IV of ERISA. 1.1.124 “Net Income” – means, with reference to any period, the net income (or net loss) of the Borrower for such period as computed on a consolidated basis in accordance with IFRS. 1.1.125 “Non-Guarantor Subsidiaries” – means collectively (i) Alithya Consulting USA Inc., Alithya France SAS, SWI Systems, LLC, Alithya Travercent LLC, Alithya IT Services Inc., Alithya Numérique Maroc SARLAU, 9466-6997 Québec Inc., Datum Consulting Group Australia Pty Limited, Datum Consulting Grup S.R.L., Datum Solutions DOO (Serbia), DCG Spain, S.L.U., DCG UK Limited, Datum Cybertech India Pvt Ltd., Datum Solutions DOO (Montenegro), 9467-8778 Québec Inc., and (ii) any future Subsidiary of the Borrower specifically designated by the Borrower as a Non Guarantor Subsidiary provided that the Borrower remains at all times in compliance with the covenant set forth in Section 11.1.12. 1.1.126 “Notice of Borrowing” – means a notice addressed to the Agent in substantially the form of Schedule 1.1.126 specifying, in respect of a proposed Borrowing
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Minor Title Defects in respect of any parcel of Land means defects or irregularities in the title to such Land which in the opinion of the Agent in its sole discretion are of a minor nature and which, in the aggregate, will not materially impair the use of such Land for the purposes for which such Land is held by the owner thereof;
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Minor Title Defects means with respect to the P&NG Rights of the Borrower, the General Partner and the Material Subsidiary, minor defects or irregularities in the title of the General Partner, the Borrower or any Material Subsidiary to that property which do not in the aggregate materially adversely affect the marketability of such P&NG Rights or the right of the General Partner (on behalf of the Borrower and in its capacity as the general partner thereof), the Borrower or any Material Subsidiary to receive its share of the production generated by that property or the income therefrom;
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Minor Title Defects means title defects, zoning restrictions, servitudes or other restrictions or title irregularities which are of a minor nature and in the aggregate will not substantially impair the use of the property affected by such title defect or irregularity for the purposes for which it is held by the owner thereof, nor substantially diminish any Lien for the benefit of the Agent and the Lenders thereon. 1.1.115 “Multiemployer Plan” – means a multiemployer plan defined as such in Section 3(37) of ERISA to which contributions have been made by any Obligor or any ERISA Affiliate and which is covered by Title IV of ERISA. 1.1.116 “Net Income” – means, with reference to any period, the net income (or net loss) of the Borrower for such period as computed on a consolidated basis in accordance with IFRS. 1.1.117 “Non-Guarantor Subsidiaries” – means collectively (i) Alithya Consulting USA Inc., Alithya Consulting SAS, 9332-7625 Québec Inc., SWI Systems, LLC, Matricis Informatique Inc. and (ii) any future Subsidiary of the Borrower specifically designated by the Borrower as a Non-Guarantor Subsidiary provided that the Borrower remains at all times in compliance with the covenant set forth in Section 12.1.12. 1.1.118 “Notice of Borrowing” – means a notice addressed to the Agent in substantially the form of Schedule 1.1.118 specifying, in respect of a proposed Borrowing
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Related to Minor Title Defects

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

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Environmental Conditions means the presence in the environment, including the soil, groundwater, surface water or ambient air, of any Hazardous Material at a level which exceeds any applicable standard or threshold under any Environmental Law or otherwise requires investigation or remediation (including, without limitation, investigation, study, health or risk assessment, monitoring, removal, treatment or transport) under any applicable Environmental Laws.