Definition of Environmental Defect. As used herein, an “Environmental Defect” shall mean a condition affecting a Subject Property that is a violation of Environmental Law and which would cost, on an individual defect basis, in excess of ten thousand dollars ($10,000) to remediate.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Lucas Energy, Inc.), Purchase and Sale Agreement (Lucas Energy, Inc.)
Definition of Environmental Defect. As used herein, an “"Environmental Defect” " shall mean a condition affecting a Subject Property that is a violation of Environmental Law and which would cost, on an individual defect Well basis, in excess of ten five thousand dollars ($10,0005,000.00) to remediate or, in the aggregate for all Xxxxx, in excess of fifteen thousand dollars ($15,000.00) to remediate.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Reef Oil & Gas Income & Development Fund III LP)
Definition of Environmental Defect. As used herein, an “"Environmental Defect” " shall mean a condition affecting a Subject Property that is a violation of Environmental Law and which individually would cost, on an individual defect basis, cost in excess of ten thousand dollars ($10,00010,000.00) to remediate or several conditions affecting the Subject Property that is a violation of Environmental Law and which in the aggregate in excess of fifty thousand (US) dollars ($50,000.00) to remediate.
Appears in 1 contract
Samples: Purchase and Sale Agreement (New Frontier Energy Inc)
