Title Defect Mechanism definition

Title Defect Mechanism means the procedure whereby the Purchase Price is adjusted to compensate for variations in the Allocated Values caused by Title Defects. The Title Defect Mechanism is set forth in Exhibit A.
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Title Defect Mechanism the provisions of this Agreement governing the identification and notice of Title Defects affecting the Assets, and the adjustments to the Base Purchase Price to compensate for variations in the Allocated Values caused by Title Defects.
Sample 1

Examples of Title Defect Mechanism in a sentence

  • If Seller disagrees with Buyer’s assertion of the existence of a Title Defect or the Title Defect Amount with respect thereto, Seller’s Response Notice shall also specify in reasonable detail Seller’s grounds for such Exhibit A — Title Defect Mechanism - Page 2 disagreement, the Title Defect Amount estimated by Seller therefor, or both, as the case may be.

Related to Title Defect Mechanism

  • 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.

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

  • Defects Notification Period means the period for notifying defects in the Works or a Section (as the case may be) under Sub-Clause 11.1 [Completion of Outstanding Work and Remedying Defects], which extends over 365 days except if otherwise stated in the SCC (with any extension under Sub-Clause 11.3 [Extension of Defects Notification Period]), calculated from the date on which the Works or Section is completed as certified under Sub-Clause 10.1[Taking Over of the Works and Sections].

  • Remediation Period has the meaning specified in Section 8.2(a);

  • 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.

  • Dispute Resolution Procedure means the procedure for resolution of Disputes set forth in Article 26;