Common use of Environmental Diligence Clause in Contracts

Environmental Diligence. The Purchaser shall have completed the Phase II Investigation at the Aurangabad Facility, which shall be reasonably satisfactory to the Purchaser (it being agreed and understood that such Phase II Investigation shall be deemed reasonably satisfactory if the results disclosed in such Phase II Investigation provide that there are no Hazardous Materials present in, on, under or adjacent to the Aurangabad Facility in such character and extent that would subject the Seller to any Liability or require any expenditure for investigation, monitoring, remediation or corrective action to meet any standards under any applicable Environmental Law); and