Interest Addition definition

Interest Addition is defined in Section 7.6.
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Interest Addition has the meaning specified in Section 5.6.
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Interest Addition as defined in Section 11.09.
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Examples of Interest Addition in a sentence

  • Seller shall conclusively be deemed to have waived any additional interest not asserted by an Interest Addition Notice on or before the Defect Notice Time.

  • If Buyer contests in good faith the existence of the Interest Addition or Seller’s good faith estimate of the Interest Addition Value, then Buyer shall so notify Seller in writing on or before the date that is four Business Days before the Closing Date (an “Interest Addition Rejection Notice”), which Interest Addition Rejection Notice shall state with reasonable specificity the basis of Buyer’s rejection of the Additional Interest or of such Interest Addition Value.

  • If Buyer timely delivers an Interest Addition Rejection Notice with respect to any Interest Addition, then representatives of the Parties, knowledgeable in title matters shall promptly (but in any event at least two Business Days before the Closing Date) meet and attempt to agree on whether such Interest Addition exists and, if so, the Interest Addition Value applicable thereto.

  • In addition, if the Interest Addition Value for any single Asset is less than $50,000, such value shall not be considered in calculating any increase to the Purchase Price.

  • If the Parties are unable to reach agreement with respect to any Interest Additions, the Interest Addition or the Interest Addition Value subject to the Interest Addition Rejection Notice shall be submitted to arbitration in accordance with the procedures set forth in Section 8.8.

  • For any Interest Addition asserted by Seller in an Interest Addition Notice by the Defect Notice Time, if Buyer fails to timely deliver an Interest Addition Rejection Notice, Buyer shall be deemed to have accepted the validity of such Interest Addition and such Interest Addition Value, (subject to Section 7.6(d)) the Purchase Price shall be increased by an amount equal to such Interest Addition Value.

  • If the parties cannot agree on either option (a) or (b) in the preceding sentence, the Interest Addition subject to the Interest Addition Rejection Notice shall be submitted to arbitration in accordance with the procedures set forth in Section 12.15.

  • The Interest Addition Rejection Notice shall state with reasonable specificity the basis of Buyer’s rejection of the Additional Interest or of Buyer’s good faith estimate of the Interest Addition Value.

  • Seller shall conclusively be deemed to have waived any additional interest not asserted by an Interest Addition Notice on or before the Title Claim Date.

  • If Buyer contests the existence of the Interest Addition or Seller’s good faith estimate of the Interest Addition Value, then Buyer shall so notify Seller in writing within five (5) Business Days after Buyer’s receipt of the Interest Addition Notice (“Interest Addition Rejection Notice”).


More Definitions of Interest Addition

Interest Addition shall have the meaning assigned thereto in Section 4.6.
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Interest Addition means, with respect to an Asset, the ownership by Seller of a (i) greater NRI in such Asset than the NRI set forth for such Asset on Exhibit A or (ii) a lesser WI in such Asset than the WI set forth for such Asset on Exhibit A without a proportionate change in NRI. Buyer acknowledges and agrees to comply with the affirmative obligation set forth in the first sentence of this Article. Each such notice of an Interest Addition shall be in writing and shall describe the Interest Addition and state the estimated amount by which the Allocated Value of the Asset has been increased by the Interest Addition ("Value of Interest Addition"), together with the associated computations and supporting documentation. The Parties shall determine the Value of Interest Addition in good faith in the same manner as provided in Article 4.1.D taking into account all relevant factors, and increase the Purchase Price accordingly (with the amount of such adjustment being the "Interest Addition Adjustment").
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Interest Addition means an amount equal to a Participant's Deferred Compensation Account Balance as of the last day of the Year multiplied by the average twelve-month interest rate as selected by the Committee from time to time.
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Interest Addition means any right, circumstance or condition that operates (1) to increase the NRI of Seller in (I) any Lease or Well that does not contain a “(Non-Consent)” notation next to the well name for such Well on Exhibit B above that shown on Exhibit A or Exhibit B, as applicable, or (II) Well that contains a “(Non-Consent)” notation next to the well name for such Well on Exhibit B after payout of such Well above that shown for such Well as set forth on Exhibit B to the extent, with respect to clauses (I) and (II), the same does not cause a greater than proportionate increase in Seller’s Working Interest therein above that shown on Exhibit A or Exhibit B, as applicable, (2) to decrease the Working Interest of Seller in any (y) Well shown on Exhibit B that does not contain a “(Non-Consent)” notation next to the well name for such Well on Exhibit B below that shown on Exhibit B, or (z) Well shown on Exhibit B that contains a “(Non-Consent)” notation next to the well name for such Well on Exhibit B after payout of such Well of below that shown on Exhibit B for such Well, except, in the case of clauses (y) and (z), to the extent the same causes a decrease in Seller’s Working Interest that is proportionately greater than the decrease in Seller’s NRI therein below that shown on Exhibit B, or (3) to increase the Net Acres of Seller covered by the Lease above that shown on Exhibit A.
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Interest Addition is defined in Section 4.3(a).
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Interest Addition means with respect to any Lease, Well or Unit described on Schedule 5.13, (a) an increase in the Net Revenue Interest in, to and from such particular Lease, Well or Unit above the Net Revenue Interest identified for such Lease, Well or Unit on Schedule 5.13 as being associated with such Lease, Well or Unit so long as the Working Interest identified for such Lease, Well or Unit on Schedule 5.13 is not also increased, or (b) a reduction in the Working Interest for a particular Lease, Well or Unit below the Working Interest identified on Schedule 5.13 as being associated with such Lease, Well or Unit so long as the Net Revenue Interest identified for such Lease, Well or Unit on Schedule 5.13 is not also decreased.
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Related to Interest Addition

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Interest Adjustment Rate means the interest adjustment rate assigned to the Security. The initial Interest Adjustment Rate is the interest adjustment rate specified in the Table (the "Initial Interest Adjustment Rate").

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Title Benefit Amount has the meaning set forth in Section 6.2(d).

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows: