Common use of Nature of Defects Clause in Contracts

Nature of Defects. The term “Defect” as used in this Section shall mean the following; provided, however, that Permitted Encumbrances (as hereinafter defined) shall not constitute Defects:

Appears in 1 contract

Sources: Purchase and Sale Agreement (Energy Partners LTD)

Nature of Defects. The term “"Defect” " as used in this Section 7 shall mean the following; provided, however, that Permitted Encumbrances (as hereinafter defined) shall not constitute Defects:

Appears in 1 contract

Sources: Purchase and Sale Agreement (T-Rex Oil, Inc.)