Title Disputes definition
Examples of Title Disputes in a sentence
Notwithstanding anything herein to the contrary, the Title Referee shall have exclusive, final and binding authority with respect to the scope of the Title Referee’s authority with respect to any Title Dispute and in no event shall any dispute as to the authority of the Title Referee to determine any Title Disputes be subject to, resolution or the provisions of Section 13.10.
Title Disputes shall be submitted for resolution in accordance with this Section 5.9 to an attorney with at least ten (10) years of experience in oil and gas title matters in the State of Kansas, and Environmental Disputes shall be submitted for resolution in accordance with this Section 5.9 to an attorney with at least ten (10) years of experience in oil and gas environmental matters in the State of Kansas (in each case, the “Arbitrator”).
Title Disputes shall be submitted for resolution in accordance with this Section 5.7 to an attorney with at least ten (10) years of experience in oil and gas title matters in the State of Oklahoma, and Environmental Disputes shall be submitted for resolution in accordance with this Section 5.7 to an attorney with at least ten (10) years of experience in oil and gas environmental matters in the State of Oklahoma (in each case, the “Arbitrator”).
The applicable Title Referee shall act as an expert for the limited purpose of determining the interpretation and effect of this Article 6 and any and all specific Title Disputes and may not award any damages, interest, or penalties to any Party with respect to any matter.
Buyer’s retention of the Title Holdback Amount above in no way limits the amount due to Buyer for asserted Title Defects and any amounts owing to Buyer upon the resolution of the outstanding Title Disputes by the decision of the Independent Expert shall be handled through payments from Seller to Buyer via wire transfer to an account designated by Buyer within three (3) Business days of such decision.
The Title Arbitrator’s determination will be made within 30 days after submission of Title Disputes and will be final and binding upon both Parties, without right of appeal.
The Title Arbitrator will act for the limited purpose of determining the specific Title Disputes submitted by either Party, and the Title Arbitrator may not award damages, interest or penalties to either Party with respect to any Title Dispute.