Common use of Title Failure Clause in Contracts

Title Failure. Any item that Sellers acknowledges is a Title Defect but that Sellers are unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree to indemnify Buyers with respect thereto.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Castle Energy Corp), Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Title Failure. Any item that Sellers acknowledges is a Title Defect but that Sellers are unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree to indemnify Buyers Buyer with respect thereto.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Delta Petroleum Corp/Co), Purchase and Sale Agreement (Castle Energy Corp)

Title Failure. Any item that Sellers Seller acknowledges is a Title Defect but that Sellers are Seller is unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, Failure and the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree to indemnify Buyers with respect thereto2.5.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Delta Petroleum Corp/Co), Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Title Failure. Any item that Sellers Seller acknowledges is a Title Defect but that Sellers are Seller is unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' reasonable judgment, it is unlikely that material 2.2 unless Seller agrees to indemnify Buyer against all losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree to indemnify Buyers with respect theretoDefect.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Title Failure. Any item that Sellers Seller acknowledges is a Title Defect but that Sellers are Seller is unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree to indemnify Buyers with respect thereto2.3.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Title Failure. Any item that Sellers Seller acknowledges is a Title Defect but that Sellers are Seller is unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' Seller's reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree Seller agrees to indemnify Buyers Buyer with respect thereto.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Castle Energy Corp)

Title Failure. Any item that Sellers Seller acknowledges is a Title Defect but that Sellers are Seller is unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 2.2 unless, in Sellers' Seller's reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree Seller agrees to indemnify Buyers Buyer with respect thereto.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Castle Energy Corp)

Title Failure. Any item that Sellers Seller acknowledges is a Title Defect but that Sellers are Seller is unwilling to cure shall be deemed a title failure ("Title Failure") and, subject to Section 10.9 10.7 below, the Purchase Price shall be reduced for such Title Defect pursuant to Section 2.3 unless, in Sellers' Seller's reasonable judgment, it is unlikely that material losses, costs, expenses and liabilities will be experienced with respect to such Title Defect and Sellers agree Seller agrees to indemnify Buyers Buyer with respect thereto.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Delta Petroleum Corp/Co)