Common use of Environmental Defects Clause in Contracts

Environmental Defects. If Buyer properly notifies Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Seller to cure the Environmental Defect. If Buyer asks Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, 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 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, Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to Seller. If 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 notify Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Seller to cure the Environmental Defect. If Buyer asks Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, Seller has have the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If 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, Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to Seller. If 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 Seller a Sellers of an Environmental Defect related to an Interesta Property, such Buyer may (i) waive the Environmental Defect and Close, or (ii) request that the Seller to cure the Environmental Defect. If a Buyer asks 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, 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 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, 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 the Seller. If 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 Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Seller to cure the Environmental Defect. If Buyer asks Seller to cure an Environmental Defect, and if the aggregate amount of all such Environmental Defects exceeds four percent (4%) of the Purchase Price, Seller has have the option (i) to cure the Environmental Defect, or (ii) to exclude the Interest affected by the Environmental Defect from this Agreement. If 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, Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to Seller. If Seller elects 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 Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Seller to cure the Environmental Defect. If Buyer asks 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, 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 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, Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to Seller. If 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 Seller of an Environmental Defect related to an Interest, Buyer may (i) waive the Environmental Defect and Close, or (ii) request Seller to cure the Environmental Defect. If Buyer asks 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, Seller has 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 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, Seller will convey to Buyer the Interest affected by the Environmental Defect and the applicable amount shall be released from escrow to Seller. If 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.