Environmental Permit. The Company shall, and the Stockholders shall cause the Company to, apply for an obtain a letter of approval from the Tennessee Department of Environment and Conservation (the “TDEC”) with respect to the environmental remediation to be conducted set forth on Schedule 4.29(d). To the extent such approvals are not obtained from TDEC within six (6) months after Closing, the Company shall have the right to terminate the Lease Agreement in Parent’s sole discretion and elect to relocate the operations of the Company from the current facility at its convenience, with no further obligations on the part of the Company or the Parent under the Lease Agreement and no penalty incurred with respect to such termination of the Lease Agreement. The Company shall, and the Stockholders shall cause the Company to, apply for any required transfers of any Permits and other governmental authorizations set forth on Schedule 4.16 and Schedule 4.29(b), as requested by the Parent.
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Sources: Agreement and Plan of Merger (Basin Water, Inc.), Agreement and Plan of Merger (Basin Water, Inc.)