Environmental Defect Notice. Buyer shall notify Seller in writing of any Environmental Defect (“Environmental Defect Notice(s)”) no later than 5:00 p.m. Central Time on the Environmental Claim Date. The Environmental Defect Notice shall state with reasonable specificity: (i) the Asset affected; (ii) a complete description of the Environmental Defect claimed; (iii) Buyer’s good faith estimate of the cost of Remediation of such Environmental Defect (the “Environmental Defect Value”); and (iv) appropriate documentation substantiating Buyer’s claim. Without limiting Section 3.06, Buyer shall conclusively be deemed to have waived any Environmental Defect not asserted by an Environmental Defect Notice by 5:00 p.m. Central Time on the Environmental Claim Date.
Environmental Defect Notice. Buyer shall give Seller notice (an “Environmental Defect Notice”) of any Environmental Defect that was not disclosed to Buyer on Schedule 8.1. For the purpose of this Agreement, an Environmental Defect shall mean a deficiency which individually exceeds Ten Thousand and No/100 Dollars ($10,000.00) and complies with all of the following conditions precedent:
Environmental Defect Notice. If the Environmental Consultant or Buyer identifies, and Buyer claims, one or more Environmental Defects in the course of its investigation, Buyer may, on or before the Defect Notice Date, deliver to Seller one or more Environmental Defect Notices. Buyer must deliver Environmental Defect Notices as soon as reasonably practical, but no later than on the Defect Notice Date. Each Environmental Defect Notice must satisfy the following conditions precedent: such notice must (1) be in writing and asserted in good faith, (2) name the affected Asset, (3) name the condition in, on, or under the Asset that constitutes, causes, or contributes to the Environmental Defect, (4) provide factual substantiation for the Environmental Defect, (5) state Buyer’s good faith estimate of the most practical and cost effective Remediation, and (6) contain the Environmental Consultant’s or Buyer’s good faith written estimates of the Remediation Costs which must describe in reasonable detail the Remediation proposed for the alleged Environmental Defect and identify the assumptions used by the Environmental Consultant to support the Remediation Costs. For the purpose of the preceding sentence, “factual substantiation for the Environmental Defect” means reports prepared by the Environmental Consultant. To give Seller an opportunity to commence reviewing and curing Environmental Defects, Buyer shall use reasonable efforts to give Seller, on or before the end of each calendar week prior to the Defect Notice Date, written notice of all alleged Environmental Defects discovered by Buyer during the preceding calendar week, which notice may be preliminary in nature and supplemented prior to the expiration of the Defect Notice Date. Seller has the right, but not the obligation, to cure any claimed Environmental Defect on or before the Closing Date. Buyer irrevocably waives all Environmental Defects not timely and properly submitted in an Environmental Defect Notice on or before the Defect Notice Date.
Environmental Defect Notice. 73 12.03 Remedies . . . . . . . . . . . . . . . . . . . . . . . . .73
Environmental Defect Notice. Buyer may conduct an environmental review of Seller's Oil and Gas Interests and give Seller a written notice of Environmental Defects ("Environmental Defect Notice"). As a condition precedent to the effectiveness of such notice, an Environmental Defect Notice must be received on or before January 19, 1998 at 5:00 p.m. Central Time and shall state with reasonable particularity the name of the affected Oil and Gas Interest, the condition in, on or under the Oil and Gas Interest that causes the Environmental Defect, substantiation for the Environmental Defect, and the estimated cost to remediate the Oil and Gas Interest. If Buyer fails to timely deliver a valid Environmental Defect Notice with respect to an Oil and Gas Interest, Buyer shall be deemed to have accepted the environmental condition in, on and under that Oil and Gas Interest and shall be deemed to have waived its right to claim an Environmental Defect with respect to that Oil and Gas Interest, except in the event of the breach of a representation or warranty of Seller hereunder.
Environmental Defect Notice. An Environmental Defect Notice must be in writing and received on or before the Environmental Defect Notice Date, name the affected Asset and identify the condition in, on or under the Asset that causes the Environmental Defect, and contain a written statement of the estimated Remediation Costs by an Environmental Consultant.
Environmental Defect Notice. On or before the Defect Notice Date, Buyer shall give Seller written notice of any Environmental Defects as to which Buyer has knowledge prior to the Defect Notice Date (an “Environmental Defect Notice”). Buyer shall be deemed to have waived its right to assert an Environmental Defect if Buyer does not include such Environmental Defect in an Environmental Defect Notice delivered to Seller on or before the Defect Notice Date. An Environmental Defect Notice shall contain the following: (i) a description of the Condition in, on, under or relating to the Asset that causes the alleged Environmental Defect; (ii) a description of the Asset affected by the alleged Environmental Defect (each an “Environmental Defect Property”); (iii) the Allocated Value of each Environmental Defect Property; (iv) supporting documentation reasonably necessary for Seller (as well as any consultant hired by Seller) to verify the existence of the alleged Environmental Defect(s), including, without limitation, that portion of any Environmental Assessment prepared by Buyer or its representatives to the extent and only to the extent the same relates to the Environmental Defect Property, and (v) Buyer's estimated cost to Remediate the alleged Environmental Defect (the “Environmental Defect Value”).
Environmental Defect Notice. On or before the Defect Notice Date, Laramie or Delta, as applicable, shall give written notice to the other Party of any Environmental Defects as to which each Party has knowledge prior to the Defect Notice Date (the “Environmental Defect Notice”). Laramie or Delta shall be deemed to have waived its right to assert an Environmental Defect if it does not include such Environmental Defect in an Environmental Defect Notice delivered to the other Party, as applicable, on or before the Defect Notice Date. An Environmental Defect Notice shall contain the following: (a) a description of the Condition in, on, under or relating to the Asset that causes the alleged Environmental Defect, (b) a description of the Asset affected by the alleged Environmental Defect (each, an “Environmental Defect Property”), (c) the Allocated Value of each Environmental Defect Property, (d) supporting documentation reasonably necessary for Laramie or Delta, as applicable, (as well as any consultant hired by Laramie or Delta) to verify the existence of the alleged Environmental Defect(s), and (e) the Company’s estimate of the cost to Remediate the alleged Environmental Defect (the “Environmental Defect Value”) and a description of the components of such estimated cost.
Environmental Defect Notice. On or before the Defect Notice Date, Buyer shall give Seller written notice of any Environmental Defect (an “Environmental Defect Notice”), which shall (a) name the affected Well; (b) describe the Condition in, on, under or relating to the Well that causes the Environmental Defect; and (c) set forth the estimated cost to Remediate such Environmental Defect (the “Environmental Defect Amount”).
Environmental Defect Notice. Buyer will notify Seller on or before five (5) days before Closing, at 5:00 p.m., Central Time (the “Environmental Notice Deadline”) of (i) the existence of any environmental condition on the real property comprising any Property that Buyer reasonably believes constitutes a violation of Environmental Laws as in effect on the date hereof or reduces or interferes with the operation, value or use of such Property (“Environmental Defect”), and (ii) the estimated cost to remediate or cure such condition on each individual Property, determined utilizing the most cost effective and appropriate method of cure or remediation available under the circumstances. With respect to any Environmental Defect:
