Title Defect Deductible definition

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

Title Defect Deductible shall be as defined in Section 6.2(d).

Title Defect Deductible means an amount equal to 1.0% of the Base Purchase Price.

Examples of Title 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.

• If the aggregate value of the Title Defects does not exceed the Title Defect Deductible, there shall be no adjustment to the Purchase Price, and, except for matters that are subject to the special warranty of title contained in the Assignment to be delivered at Closing, 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 real property title to the Assets.

• Notwithstanding the foregoing, Buyer shall not deliver a notice of any Title Defects until Buyer has identified Title Defects having, in the aggregate, in excess of the Title Defect Deductible.

• If the Base Purchase Price reduction which would result from the above provided for procedure as applied to all Asserted Title Defects for which an adjustment is to be made exceeds the Title Defect Deductible, the Base Purchase Price shall be adjusted by the amount by which such reduction exceeds the Title Defect Deductible (the “Title Defect Amount”).

• 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.

More Definitions of Title Defect Deductible

Title Defect Deductible shall have the meaning given that term in Section 4.06.

Title Defect Deductible means, with respect to each Seller, an amount equal to 1.5% of the aggregate Allocated Value of all Assets to be conveyed by such Seller to Buyer hereunder.

Title Defect Deductible means $200,000.

Title Defect Deductible has the meaning assigned to such term in Section 7.7(a).

Title Defect Deductible means $50,000.

Title Defect Deductible shall have the meaning ascribed to it in Section 6.12 hereof. “Title Defect Notice” shall have the meaning ascribed to it in Section 6.8 hereof.

Title Defect Deductible means $50,000. “Title Escrow Amount” means $2,500,000.