Common use of Environmental Defect Notice Clause in Contracts

Environmental Defect Notice. Buyer shall give Seller notice (an “Environmental Notice”) of any Environmental Defect on or before the expiration of the Due Diligence Period. For the purpose of this Agreement, an Environmental Defect shall mean a deficiency which individually exceeds Fifty Thousand Dollars ($50,000) and complies with all of the following conditions precedent:

Environmental Defect Notice. Buyer shall give Seller notice (an “Environmental Defect Notice”) of any Environmental Defect that was not disclosed to Buyer on or before the expiration of the Due Diligence PeriodSchedule 8.1. For the purpose of this Agreement, an Environmental Defect shall mean a deficiency which individually exceeds Fifty Ten Thousand and No/100 Dollars ($50,00010,000.00) and complies with all of the following conditions precedent: