Common use of Environmental Defects Clause in Contracts

Environmental Defects. If Buyer properly notifies Sellers of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers to cure the Environmental Defect. If Buyer asks Sellers to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, Sellers have the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If Sellers elect to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price shall be reduced by the amount allocated to such Interest and such amount shall be deposited into the escrow account referred to in Section 10.7. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to Sellers. If Sellers elect to exclude the Interest affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price will be reduced by the allocated value of the Interest affected.

Environmental Defects. If Buyer properly notifies Sellers Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers Seller to cure the Environmental Defect. If Buyer asks Sellers Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, Sellers have Seller has the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If Sellers elect Seller elects to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price shall be reduced by the amount allocated to such Interest and such amount shall be deposited into the escrow account referred to in Section 10.7. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to SellersSeller. If Sellers elect Seller elects to exclude the Interest affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price will be reduced by the allocated value of the Interest affected.

Environmental Defects. If Buyer properly notifies Sellers notify Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers Seller to cure the Environmental Defect. If Buyer asks Sellers Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, Sellers Seller have the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If Sellers elect Seller elects to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price shall be reduced by the amount allocated to such Interest and such amount shall be deposited into the escrow account referred to in Section 10.7. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to SellersSeller. If Sellers elect Seller elects to exclude the Interest affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price will be reduced by the allocated value of the Interest affected.affected per Exhibit B.

Environmental Defects. If Buyer properly notifies Sellers Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers Seller to cure the Environmental Defect. If Buyer asks Sellers Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four five percent (45%) of the Adjusted Purchase Price, Sellers Seller shall have the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If Sellers elect Seller elects to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price shall be reduced by the amount allocated to such Interest and such amount shall be deposited into the escrow account referred to in Section 10.710.6. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to SellersSeller. If Sellers elect Seller elects to exclude the Interest affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price will be reduced by the allocated value of the Interest affected.affected per Exhibit B.

Environmental Defects. If a Buyer properly notifies a Sellers of an Environmental Defect related to an Interesta Property, such Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers to that the Seller cure the Environmental Defect. If a Buyer asks Sellers a Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Pricepurchase price for the Property described in Section 1.2 hereof, Sellers have the Seller has the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest Property affected by the Environmental Defect from this Agreement. If Sellers elect a Seller elects to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest Property affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price purchase price for the Property described in Section 1.2 hereof shall be reduced by the amount allocated to such Interest Property and such amount shall be deposited into the escrow account referred to in Section 10.7. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers the respective Seller will convey to such Buyer the Interest Property affected by the Environmental Defect and the applicable amount shall be released from escrow to Sellersthe Seller. If Sellers elect the Seller elects to exclude the Interest Property affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price purchase price for the Property described in Section 1.2 hereof will be reduced by the allocated value of the Interest Property affected.

Environmental Defects. If Buyer properly notifies Sellers Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers Seller to cure the Environmental Defect. If Buyer asks Sellers Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four five percent (45%) of the Purchase Price, Sellers have Seller has the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If Sellers elect Seller elects to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price shall be reduced by the amount allocated to such Interest and such amount shall be deposited into the escrow account referred to in Section 10.7. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to SellersSeller. If Sellers elect Seller elects to exclude the Interest affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price will be reduced by the allocated value of the Interest affected.

Environmental Defects. If Buyer properly notifies Sellers Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Sellers Seller to cure the Environmental Defect. If Buyer asks Sellers Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, Sellers Seller have the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If Sellers elect Seller elects to cure the Environmental Defect, but the cure has not been completed by Closing, the Interest affected by the Environmental Defect shall not be conveyed to Buyer at Closing, the Purchase Price shall be reduced by the amount allocated to such Interest and such amount shall be deposited into the escrow account referred to in Section 10.7. If the Environmental Defect is cured within ninety (90) days after Closing, within five (5) days after the Environmental Defect is cured, Sellers Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to SellersSeller. If Sellers Seller elect to exclude the Interest affected by the Environmental Defect from this Agreement, subject to Section 11.4 below, the Purchase Price will be reduced by the allocated value of the Interest affected.