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Limitations
Limitations contract clause examples

Limitations. Notwithstanding the provisions of [Sections 11.10 and 11.11]1], no adjustment to the Purchase Price for Environmental Defect Values shall be made unless and until the sum of # the aggregate value of all Environmental Defect Values (the “Aggregate Environmental Defect Value”) plus # the Aggregate Title Defect Value (after taking into account any offsetting Title Benefit Values) exceeds the Aggregate Defect Deductible. Only Environmental Defect Values that are equal to or greater than the De Minimis Environmental Defect Cost with respect to any single Environmental Defect for a Well, Lease or Unit shall be considered in calculating the Aggregate Environmental Defect Value.

Notwithstanding the provisions of [Sections 11.10 and 11.11]1], no adjustment to the Purchase Price for Environmental Defect Values shall be made unless and until the sum of # the aggregate value of all Environmental Defect Values (the “Aggregate Environmental Defect Value”) plus # the Aggregate Title Defect Value (after taking into account any offsetting Title Benefit Values) exceeds the Aggregate Defect Deductible. If the Environmental Defect Value with respect to any single Environmental Defect is less than the De Minimis Environmental Defect Cost, such cost shall not be considered in calculating the Aggregate Environmental Defect Value.

Limitations on Adjustments for Title Defects. Notwithstanding the provisions of [Sections 11.04, 11.05 and 11.06]6]6], Seller shall be obligated to adjust the Purchase Price to account for uncured Title Defects only to the extent that the sum of # the aggregate Title Defect Values of all uncured Title Defects (the “Aggregate Title Defect Value”) (after taking into account any offsetting Title Benefit Values) plus # the Aggregate Environmental Defect Value exceeds the Aggregate Defect Deductible. In addition, no Title Defect Value will be considered in calculating the Aggregate Title Defect Value unless the Title Defect Value with respect to a single Well is equal to or greater than the De Minimis Title Defect Cost.

Notwithstanding the provisions of [Sections 11.04, 11.05 and 11.06]6], Seller shall be obligated to adjust the Purchase Price to account for uncured Title Defects only to the extent that the sum of # the aggregate Title Defect Values of all uncured Title Defects (the “Aggregate Title Defect Value”) (after taking into account any offsetting Title Benefit Values), plus # the Aggregate Environmental Defect Value (such sum, the “Aggregate Defect Value”) exceeds the Aggregate Defect Deductible (and then only with respect to the amount by which the Aggregate Defect Value exceeds the Aggregate Defect Deductible). In addition, if the Title Defect Value for any single Title Defect for a particular Well, Well Location or the Pipeline is less than the De Minimis Title Defect Cost, such value shall not be considered in calculating the Aggregate Title Defect Value or the Aggregate Defect Value.

Title Defect Values, Environmental Defect Values, etc. The sum of # all Title Defect Values agreed on by the Parties or finally determined pursuant to Article 11, plus # the Aggregate Environmental Defect Values agreed on by the Parties or finally determined pursuant to Article 11, plus # the aggregate downward Purchase Price adjustments under [Section 11.02], plus # the aggregate downward Purchase Price adjustments under [Section 11.09], plus # the aggregate downward Purchase Price adjustments under [Section 11.03], does not exceed twenty-five percent (25%) of the unadjusted Purchase Price.

Title Defect Values, Environmental Defect Values, etc. The sum of # all Title Defect Values agreed on by the Parties or finally determined pursuant to Article 11, plus # the Aggregate Environmental Defect Values agreed on by the Parties or finally determined pursuant to Article 11, plus # the aggregate downward Purchase Price adjustments under [Section 11.09], plus # the aggregate downward Purchase Price adjustments under [Section 11.03], does not exceed twenty-five percent (25%) of the unadjusted Purchase Price.

by Seller if the sum of # all Title Defect Values asserted by Buyer in good faith and without taking into account the Aggregate Defect Deductible (less the sum of all Title Benefit Values), plus # the Aggregate Environmental Defect Values asserted by Buyer in good faith and without taking into account the Aggregate Defect Deductible, plus # the aggregate downward Purchase Price adjustments under Section 11.02, plus # the aggregate downward Purchase Price adjustments under Section 11.03, exceeds twenty percent (20%) of the unadjusted Purchase Price;

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