CONDITIONS OF CLOSING BY BUYER. The obligation of Buyer to close is subject to the satisfaction of the following conditions: (a) Buyer shall have had reasonable access to all data and records which it has reasonably requested; (b) Buyer shall have had reasonable access to the leases and equipment included in the Interests to conduct an inspection for all purposes, including environmental condition; (c) No material adverse change in the condition of or title to the Interests shall have occurred prior to the Effective Time, except depletion through normal production within authorized, allowable, ordinary changes in the rates of production and depreciation of equipment through ordinary wear and tear; and (d) All representations and warranties of Seller contained in the Agreement shall be true, correct and not misleading in all material respects, and Seller shall have performed and satisfied all agreements and covenants in all material respects required by this Agreement to be performed and satisfied by Seller. 12.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Universal Property Development & Acquisition Corp), Purchase and Sale Agreement (Heartland Oil & Gas Corp)