Common use of Environmental Testing Clause in Contracts

Environmental Testing. Seller shall provide Purchaser copies of each of the Phase I Site Assessments prepared for the Facilities by EMG (the "Existing Site Assessments"), each of which are dated August 22, 1997. Purchaser may, at its option and expense, have the Existing Site Assessments addressed and certified to Purchaser, in which event Seller agrees to cooperate with Purchaser in obtaining such recertifications. In the event Purchaser desires further testing, Seller hereby grants to Purchaser and its agents the right to enter upon the Premises at any reasonable time or times after the Effective Date to conduct, at Purchaser's sole cost and expense, such further inspections, investigations, and tests as are necessary to complete Purchaser's own Preliminary Environmental Site Assessment ("PESA") at each Facility. If any such PESA shall indicate that any Hazardous Material may be located at the Premises, Seller hereby grants to Purchaser and its agents the right to conduct such additional inspections, investigations and tests of the Premises, including, without limitation, test borings, to determine whether, in fact, any Hazardous Material is located at the Premises. In connection with the conduct of such PESA's and any further testing warranted thereby (collectively, the "Environmental Testing"), Purchaser agrees, at Purchaser's sole cost and expense, to repair any damage to the Premises resulting from such Environmental Testing. Purchaser shall hold confidential the information in the Existing Site Assessments and results of the Environmental Testing in the event Purchaser does not close the transaction contemplated by this Agreement; provided, however, that in the event any Hazardous Material is discovered at the Premises and Purchaser is required by law to disclose such finding to governmental authorities, Purchaser shall have the right to disclose such finding to such authorities without liability to Purchaser; provided, further, that Purchaser shall disclose such findings to Seller prior to disclosure of such findings to any governmental authorities.

Appears in 2 contracts

Samples: Asset Purchase Agreement (NHP Retirement Housing Partners I LTD Partnership), Asset Purchase Agreement (Capital Senior Living Corp)

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Environmental Testing. Seller shall provide Purchaser copies of each of At any time during the Phase I Site Assessments prepared for the Facilities by EMG Term (the "Existing Site Assessments"and any renewals thereof), each of which are dated August 22but not more than once in any preceding twelve (12) month period, 1997. Purchaser may, at its option and expense, Landlord shall have the Existing Site Assessments addressed and certified to Purchaser, in which event Seller agrees to cooperate with Purchaser in obtaining such recertifications. In the event Purchaser desires further testing, Seller hereby grants to Purchaser and its agents the right to enter upon the Premises at any reasonable time or times after the Effective Date to conduct, at Purchaser's Landlord’s sole cost and expense, such further inspectionsenvironmental audits, investigations, and tests as are necessary to complete Purchaser's own Preliminary Environmental Site Assessment ("PESA") at each Facility. If any such PESA shall indicate that any Hazardous Material may be located at and/or site assessments on the Premises, Seller hereby grants to Purchaser and its agents the right to conduct such additional inspections, investigations and tests of the Premises, including, without limitation, test borings, to determine whether, in fact, any Hazardous Material is located at the Premises. In connection with the conduct of such PESA's and any further testing warranted thereby (collectively, the "Environmental Testing"), Purchaser agrees, at Purchaser's sole cost and expense, to repair any damage to the Premises resulting from such Environmental Testing. Purchaser shall hold confidential the information in the Existing Site Assessments and results of the Environmental Testing in the event Purchaser does not close the transaction contemplated by this AgreementGenerator Site; provided, however, that if Landlord discovers through such audits, tests and/or site assessments conditions at the Generator Site that do not comply with applicable legal environmental standards, Tenant shall reimburse Landlord for Landlord’s reasonable, out-of-pocket costs and expenses associated with such audits, tests and/or site assessments, which costs and expenses shall be due and payable by Tenant within ten (10) days after receipt of an invoice from Landlord, together with appropriate documentation evidencing such violation and such reasonable costs and expenses. In the event such environmental audits, tests and/or site assessments discover conditions that do not meet legal environmental standards, Landlord shall immediately notify Tenant of such conditions and Tenant shall immediately correct, at Tenant’s sole cost and expense, any such conditions in accordance with applicable laws and as reasonably recommended by Landlord, including the cost of re-testing, whether or not formally ordered or required by applicable laws, unless such conditions were not caused by the installation, presence and/or operation of the Emergency Generator and/or the Generator Connecting Equipment or any other act or omission of Tenant or any Tenant Parties. Notwithstanding anything to the contrary in the event foregoing, the reasonable, out-of-pocket costs and expenses incurred by Landlord in connection with any Hazardous Material is discovered environmental audits, tests and/or site assessments on the Generator Site performed by or on behalf of Landlord at the Premises expiration of the Term of the Lease, or earlier removal of the Emergency Generator, shall be paid for by Tenant regardless of whether or not such audits, tests and/or site assessments discover conditions that do not meet legal environmental standards, and Purchaser is required by law to disclose Tenant shall reimburse Landlord for such finding to governmental authoritiescosts and expenses within ten (10) days after receipt of an invoice from Landlord, Purchaser shall have the right to disclose together with appropriate documentation evidencing such finding to such authorities without liability to Purchaser; provided, further, that Purchaser shall disclose such findings to Seller prior to disclosure of such findings to any governmental authoritiesreasonable costs and expenses.

Appears in 1 contract

Samples: Office Lease (Capitalsource Inc)

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Environmental Testing. Seller shall provide Purchaser copies of each of the Phase I Site Assessments prepared for the Facilities by EMG (the "Existing Site Assessments"), each of which are dated August 22, 1997. Purchaser may, at its option and expense, have the Existing Site Assessments addressed and certified to Purchaser, in which event Seller agrees to cooperate with Purchaser in obtaining such recertifications. In the event Purchaser desires further testing, Seller hereby grants to Purchaser and its agents the right to enter upon the Premises at any reasonable time or times after the Effective Date to conduct, at Purchaser's sole cost and expense, such further preliminary inspections, investigations, and tests as are necessary to complete Purchaser's own a Preliminary Environmental Site Assessment ("PESA") at each Facility. If any such PESA shall indicate that any Hazardous Material may be located at the Premises, Seller hereby grants to Purchaser and its agents the right to conduct such additional inspections, investigations investigations, and tests of the Premises, including, without limitation, test borings, to determine whether, in fact, any Hazardous Material is located at the Premises. In connection with the conduct of such PESA's and any further testing warranted thereby (collectively, the "Environmental Testing"), Purchaser agrees, at Purchaser's sole cost and expense, to repair any damage to the Premises resulting from such Environmental Testing. Purchaser shall hold confidential the information in the Existing Site Assessments and results of the Environmental Testing in the event Purchaser does not close the transaction contemplated by this Agreement; provided, however, that in the event any Hazardous Material is discovered at the Premises and Purchaser is required by law to disclose such finding to governmental authorities, Purchaser shall have the right to disclose such finding to such authorities without liability to Purchaser; provided, further, that Purchaser shall disclose such findings to Seller prior to their disclosure of such findings to any governmental authorities.

Appears in 1 contract

Samples: Asset Purchase Agreement (Capital Senior Living Corp)

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