Common use of Description and Other Errors Clause in Contracts

Description and Other Errors. If either Party determines, either before or within ninety (90) days after the Closing, that the description of a Beta Interest or of a SPBP Interest is incorrect or that certain Beta Interests or SPBP Interests were erroneously included in or erroneously excluded from the respective definitions thereof, other sales information or any conveyancing instruments, then Aera and Buyer shall meet and use their respective commercially reasonable efforts to resolve the error without need of further consideration, and shall, as applicable, execute and deliver, or use commercially reasonable efforts to cause to be executed and delivered, such other instruments of conveyance and take such other actions as either Party reasonably may request in connection therewith. If the Parties cannot resolve any such purported error within fifteen (15) days of the commencement of negotiations, then the alternate-dispute-resolution and arbitration procedures set forth in SECTION 18.06 shall apply.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Pacific Energy Resources LTD)

Description and Other Errors. If either Party determines, either before or within ninety (90) days after the Closing, that the description of a Beta Interest or of a SPBP Interest is incorrect or that certain Beta Interests or SPBP Interests were erroneously included in or erroneously excluded from the respective definitions thereof, other sales information or any conveyancing instruments, then Aera Noble and Buyer shall meet and use their respective commercially reasonable efforts to resolve the error without need of further consideration, and shall, as applicable, execute and deliver, or use commercially reasonable efforts to cause to be executed and delivered, such other instruments of conveyance and take such other actions as either Party reasonably may request in connection therewith. If the Parties cannot resolve any such purported error within fifteen (15) days of the commencement of negotiations, then the alternate-dispute-resolution and arbitration procedures set forth in SECTION 18.06 14.06 shall apply.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Pacific Energy Resources LTD)