Environmental Contingency Sample Clauses

Environmental Contingency. (a) Environmental Review. Seller (i) has provided Purchaser with the reports listed in Rider 3, attached hereto, (ii) will make available to Purchaser the other final reports and communications with third-parties in Seller's files relating to Environmental Conditions (defined herein) on and adjacent to the Premises, promptly after execution of this Agreement by all parties hereto, at the property management office located at the Premises, upon prior notice to Seller, and (iii) encourages Purchaser to review the same. Purchaser may review and inspect the Premises with regard to any and all information contained on Rider 3, pursuant to the terms of Section 0. In the event Purchaser desires to do any testing at the Premises, Purchaser shall give Seller prior written notice and a reasonable opportunity to approve or disapprove such testing before Purchaser enters the Premises, which approval shall not be unreasonably withheld. On or before the Contingency Expiration Date, Purchaser shall provide written notice to Seller of any specific Environmental Conditions it determines are unsatisfactory ("Purchaser's Environmental Objections"). Failure to provide Purchaser's Environmental Objections on or before the Contingency Expiration Date shall constitute a waiver of the Environmental Contingency.
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Environmental Contingency. No later than five (5) business days after the Buyer has waived its Due Diligence Contingency, Seller shall apply to enroll the Property in the Washington State Department of Ecology (“DOE”) Voluntary Cleanup Program (“VCP”). Within five (5) business days after Seller provides Buyer with written notice from the DOE that the Property has been accepted in the VCP, Buyer shall contract, at Buyer’s sole cost and expense, with an environmental consultant for the design of an Independent Remedial Action Plan (“IRAP”) for submission to DOE under the VCP. Buyer shall be solely responsible for all costs associated with DOE’s services under the VCP. No later than ten (10) days after Seller provides Buyer with DOE’s written opinion under the VCP providing either (i) that upon completion of the proposed IRAP, no further remedial action will likely be necessary at the Property (“Likely NFA Letter”), or (ii) that the proposed IRAP does not meet the substantive requirements of the Washington State Model Toxics Control Act (“Likely FA Letter”), Buyer shall provide Seller with written notice that it is waiving the environmental contingency under this Paragraph. If Buyer fails to provide Seller with the written notice of waiver within the ten
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Environmental Contingency. Buyer intends to conduct additional environmental assessment of the Property to determine the extent, if any, of environmental contamination on the Property. Buyer shall only conduct additional environmental assessment in accordance with a supplemental written investigation plan prepared by Buyer (the “Supplemental Testing Plan”) and approved in writing by Seller (such Supplemental Testing Plan to be submitted to Seller for approval no later than thirty (30) days after the Agreement Date); provided, that any approval of any testing plan shall not be deemed an endorsement, warranty or representation by Seller of the suitability or completeness of Buyer’s investigation plan; and, provided further, that that any Report(s), including any additional Phase II environmental assessment, shall be of a scope necessary to characterize the environmental conditions of the entire Property. The initial approved Phase II testing plan is attached hereto as Exhibit G. Neither Buyer nor its consultants shall submit any data, sampling results, or reports to the Washington Department of Ecology or any other party prior to Closing without Seller’s prior written consent. If Buyer determines (in Buyer's sole and absolute discretion) that Buyer is satisfied with its environmental assessment, then Buyer shall, prior to expiration of the Contingency Period, deliver a Notice to Seller waiving the contingency under this subsection 4.01(c). If Buyer fails to deliver to Seller such Notice of satisfaction prior to expiration of the Contingency Period, then the contingency under this subsection 4.01(c) shall be conclusively deemed not satisfied, this Agreement shall automatically terminate and the Xxxxxxx Money Note shall be promptly returned to Buyer and neither Buyer or nor Seller shall have any further obligation under this Agreement; provided further, if (i) Buyer fails to timely deliver a Notice of satisfaction of the contingency under this subsection and (ii) Seller has refused to approve the Supplemental Testing Plan timely submitted in writing to Seller for approval, the Contract Fee shall also promptly be returned to Buyer.
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Environmental Contingency. This Purchase Agreement is subject to satisfaction or waiver by Buyer the following contingency, and if the following contingency are not satisfied or waived, in writing, by Buyer by the Closing Date, this Purchase Agreement may be terminated by Buyer, in which event all Xxxxxxx Money shall be refunded to the Buyer, and Buyer and Seller agree to sign a cancellation of the Purchase Agreement.
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Environmental Contingency. Buyer shall be entitled at its option and at its sole expense to conduct an environmental investigation of the Premises for the purposes of verifying the absence of hazardous waste on the Premises at levels above those allowed under applicable state and Federal law. If Buyer's inspection of the Premises reveals levels of hazardous waste above those allowed, it shall so notify the Seller or Seller's attorney in writing on or before five (5) business days from May 1, 2002 (the "Environmental Contingency Date"), whereupon (subject to the terms of Section 11C hereof) this Agreement shall terminate, all deposit monies shall be refunded to Buyer, and this Agreement shall be of no further force or effect and Seller and Buyer shall be discharged of all liability, each to the other, hereunder. Seller agrees to cooperate with Buyer in providing access to the Premises for such investigation, and Seller shall at Buyer's request execute and deliver to Buyer such evidence of Buyer's authorization to conduct such investigation as Buyer reasonably deems necessary. If Seller or Seller's attorney does not receive such written notice on or before the Environmental Contingency Date, this contingency shall be deemed to be fulfilled and this Agreement shall remain in full force and effect.
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Environmental Contingency. Within thirty (30) days from the date Purchaser 's attorney receives a fully executed copy of this contract Purchaser may, at Purchaser 's expense, conduct inquiries, inspections, soil tests, borings, and studies as Purchaser may desire. Both parties shall comply with all environmental laws, rules and regulations relating to such environmental testing, including, without limitation any reporting requirements. Purchaser shall be responsible for and shall reimburse Seller for any loss or damage to property caused by Purchaser's entry, including, without limitation, mechanic's liens or claims that may be filed or asserted against the Premises or other property of Seller by contractors, subcontractors or materialmen performing such work for Purchaser; provided, however, Purchaser shall not be liable for any contamination discovered during such testing. In the event that Purchaser's initial environmental inspection requires additional physical data, then the period of this environmental contingency shall be extended for a reasonable time not to exceed an additional thirty (30) days upon Purchaser's request. The initial 30 day period referred to in this section as same may be extended is hereinafter referred to as the Environmental Contingency Period. In the event that the environmental testing conducted by Purchaser reveals that the soil or groundwater is contaminated, or otherwise in violation of any environmental law promulgated by the United States of America, the State of New York or any other municipal authority, then Purchaser may cancel this Contract within the Environmental Contingency Period, unless Seller agrees to remediate such contamination at its sole cost and expense and in accordance with all applicable environmental laws, rules and regulations. Attached is a "No Further Action" letter dated February 24, 2014 from the County of Suffolk, Department of Health Services.
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Environmental Contingency. If during the course of Purchaser’s due diligence of the Property pursuant to this Article III, Purchaser discovers the presence of hazardous materials on or released from the Property in any quantity or concentration exceeding the limits allowed by applicable law, Purchaser shall have the right to give notice to Seller, accompanied by a copy or copies of the Third-Party Report(s) disclosing and confirming the presence of such hazardous materials, stating that Purchaser is terminating this Contract due to the presence of such hazardous materials on or adversely affecting the Property. Any such notice and accompanying Third-Party Report must be given no later than 5:00 p.m. Pacific Time on or before the date of expiration of the Feasibility Period, and if so given, this Contract shall terminate and the Deposit, including the Non-Refundable Portion, shall be returned to Purchaser.
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Environmental Contingency. The delivery by Seller within ninety (90) days after the Execution Date or as soon afterwards as received from the state of New Jersey, of a reasonably satisfactory letter of nonapplicability or negative declaration (as appropriate) regarding the premises pursuant to the Industrial Site Recovery Act (N.J.
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Environmental Contingency. Section 1 of the Second Amendment provides in part that, in the event Buyer fails to waive its environmental contingency in writing prior to 4:00 pm Hawaii time on August 31, 2009, then the Purchase Agreement shall terminate automatically and Buyer shall receive its deposit. Buyer and Seller hereby amend the Purchase Agreement to provide that Buyer shall have until 4:00 pm Hawaii time on September 30, 2009 to remove its environmental contingency. In the event that Buyer shall not remove such contingency in writing on or before 4:00 pm Hawaii time on September 30, 2009, then the Purchase Agreement shall terminate automatically and buyer shall receive its deposit..
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Related to Environmental Contingency

  • Environmental Condition Except as set forth on Schedule 5.12 to the Information Certificate, (a) to each Loan Party’s knowledge, no properties or assets of any Loan Party or any of its Subsidiaries have ever been used by a Loan Party, its Subsidiaries, or by previous owners or operators in the disposal of, or to produce, store, handle, treat, release, or transport, any Hazardous Materials, where such disposal, production, storage, handling, treatment, release or transport was in violation, in any material respect, of any applicable Environmental Law, (b) to each Loan Party’s knowledge, after due inquiry, no Loan Party’s nor any of its Subsidiaries’ properties or assets have ever been designated or identified in any manner pursuant to any environmental protection statute as a Hazardous Materials disposal site, (c) no Loan Party nor any of its Subsidiaries has received notice that a Lien arising under any Environmental Law has attached to any revenues or to any Real Property owned or operated by a Loan Party or its Subsidiaries, and (d) no Loan Party nor any of its Subsidiaries nor any of their respective facilities or operations is subject to any outstanding written order, consent decree, or settlement agreement with any Person relating to any Environmental Law or Environmental Liability that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change.

  • Environmental Conditions A Phase I environmental site assessment (or update of a previous Phase I and or Phase II environmental site assessment) and, with respect to certain Mortgage Loans, a Phase II environmental site assessment (collectively, an “ESA”) meeting ASTM requirements conducted by a reputable environmental consultant in connection with such Mortgage Loan within 12 months prior to its origination date (or an update of a previous ESA was prepared), and such ESA (i) did not identify the existence of Recognized Environmental Conditions (as such term is defined in ASTM E1527-05 or its successor, hereinafter “Environmental Condition”) at the related Mortgaged Property or the need for further investigation, or (ii) if the existence of an Environmental Condition or need for further investigation was indicated in any such ESA, then at least one of the following statements is true: (A) an amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental Condition has been escrowed by the related Mortgagor and is held or controlled by the related lender; (B) if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to be instituted by the related Mortgagor that can reasonably be expected to mitigate the identified risk; (C) the Environmental Condition identified in the related environmental report was remediated, abated or contained in all material respects prior to the date hereof, and, if and as appropriate, a no further action, completion or closure letter or its equivalent, was obtained from the applicable governmental regulatory authority (or the Environmental Condition affecting the related Mortgaged Property was otherwise listed by such governmental authority as “closed” or a reputable environmental consultant has concluded that no further action or investigation is required); (D) an environmental policy or a lender’s pollution legal liability insurance policy that covers liability for the Environmental Condition was obtained from an insurer rated no less than “A-” (or the equivalent) by Xxxxx’x, S&P and/or Fitch; (E) a party not related to the Mortgagor was identified as the responsible party for the Environmental Condition and such responsible party has financial resources reasonably estimated to be adequate to address the situation; or (F) a party related to the Mortgagor having financial resources reasonably estimated to be adequate to address the situation is required to take action. To Seller’s knowledge, except as set forth in the ESA, there is no Environmental Condition at the related Mortgaged Property.

  • Environmental Compliance The Borrower and its Subsidiaries conduct in the ordinary course of business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Borrower has reasonably concluded that such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

  • Environmental Remediation Failure to remediate (or pursue the remediation process with due diligence and good faith) within the time period required by law or governmental order, (or within a reasonable time in light of the nature of the problem if no specific time period is so established), environmental problems in violation of Applicable Law related to Properties of the Borrower and/or its Subsidiaries where the estimated cost of remediation is in the aggregate in excess of Seventy-Five Million Dollars ($75,000,000), in each case after all administrative hearings and appeals have been concluded.

  • Environmental Assessment Buyer shall have the right for a period commencing upon execution of this Agreement by both parties and ending on November 28, 2012, to conduct an environmental assessment of the Assets, at Buyer’s sole risk, liability and expense. Seller shall make available to Buyer, during the environmental assessment period described above, Seller’s historical files regarding prior operations on the Assets, and provide Buyer and its representatives with reasonable access to the Assets to conduct the environmental assessment. Buyer shall provide Seller three (3) days prior written notice of a desired date(s) for such assessment and Seller shall have the right to be present during any assessment and, if any testing is conducted pursuant to Seller’s express prior written consent, Seller may require splitting of all samples. Notwithstanding any other provision of this Agreement to the contrary, Buyer shall not have the right to drill any test, monitor or other xxxxx or to extract samples of any air, soil, water or other substance from the Assets without Seller’s express prior written consent. If Buyer proposes a reasonable request to drill a test well or extract a sample pursuant to a systematic and customary procedure for the assessment of the environmental condition of the Assets and Seller refuses to grant its consent to such a well or sampling, then Buyer shall have the right, for a period of seventy-two (72) hours following notification of Seller’s refusal to consent, to deliver written notice to Seller of Buyer’s election to exclude from this transaction the portion of the Assets affected by such proposed test well or sample, and the Purchase Price shall be adjusted accordingly by the Allocated Value of such portion of the Assets so excluded. Under no circumstances whatsoever shall Seller ever be obligated to grant its consent to any such test xxxxx or sampling proposed by Buyer, and Buyer’s sole and exclusive remedy for any refusal by Seller to grant its consent shall be the limited right contained in the preceding sentence to exclude the affected Assets from the transactions contemplated by this Agreement. If Buyer fails to exercise the right to exclude such Assets by written notice to Seller delivered prior to the expiration of the seventy-two hour period described above, then Buyer shall be conclusively deemed to have waived such right and shall be obligated to purchase the affected Assets without conducting such testing or sampling or any adjustment of the Purchase Price unless otherwise provided in this Agreement.

  • Environmental Notice Promptly after the assertion or occurrence thereof, notice of any action or proceeding against or of any noncompliance by any Loan Party or any of its Subsidiaries with any Environmental Law or Environmental Permit that could reasonably be expected to have a Material Adverse Effect.

  • Environmental Assessments Foreclose on or take a deed or title to any commercial real estate without first conducting a Phase I environmental assessment of the property or foreclose on any commercial real estate if such environmental assessment indicates the presence of a Hazardous Substance in amounts which, if such foreclosure were to occur, would be material.

  • Environmental Audits There are no environmental audits, evaluations, assessments, studies or tests relating to the Corporation except for ongoing assessments conducted by or on behalf of the Corporation in the ordinary course.

  • Environmental Audit Upon reasonable notice, Director shall have the right but not the obligation to conduct or cause to be conducted by a firm acceptable to Director, an environmental audit or any other appropriate investigation of the Premises for possible environmental contamination. Such investigation may include environmental sampling and equipment and facility testing, including the testing of secondary contamination. No such testing or investigation shall limit Tenant’s obligations hereunder or constitute a release of Tenant’s obligations therefor. Tenant shall pay all costs associated with said investigation in the event such investigation shall disclose any Hazardous Materials contamination as to which Tenant is liable hereunder.

  • Environmental Report Lender shall have received an Environmental Report (not more than six months old) with respect to the Property that discloses no material environmental contingencies with respect to the Property.

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