Environmental Thresholds Clause Samples
Environmental Thresholds. Notwithstanding anything to the contrary, (a) in no event shall there be any adjustments to the Base Purchase Price or other remedies provided by Seller or available to Buyer for any individual Environmental Defect for which the Environmental Defect Amount does not exceed $150,000 (“Individual Environmental Defect Threshold”); and (b) in no event shall there be any adjustments to the Base Purchase Price or other remedies provided by Seller for any Environmental Defect that exceeds the Individual Environmental Defect Threshold or any Title Defect that exceeds the Individual Title Defect Threshold unless the sum of (i) the Environmental Defect Amounts of all such Environmental Defects that exceed the Individual Environmental Defect Threshold, excluding any Environmental Defects cured by Seller, and (ii) the Title Defect Amounts of all such Title Defects that exceed the Individual Title Defect Threshold, excluding Title Defects cured by Seller, exceeds the Aggregate Defect Deductible, after which point Buyer shall be entitled to adjustments to the Base Purchase Price only with respect to such Environmental Defects and Title Defects that exceed the Aggregate Defect Deductible.
Environmental Thresholds. Seller shall have no obligation under Section 5.5 and there shall be no indemnification by Seller of Buyer under Section 5.5.a or reduction to the Purchase Price under Sections 5.5.b or 5.5.c unless Seller's share of a proposed indemnity amount or reduction to the Purchase Price as to any single incident exceeds Twenty Thousand Dollars ($20,000) (the "Single Environmental Incident Threshold Amount"). For the purposes of application of the foregoing threshold, "single incident" shall be applicable on a well by well or property by property basis. In addition, if Seller's share of the proposed indemnity amount under Section 5.5.a or reduction to the Purchase Price under Sections 5.5.b or 5.5.c as to any single incident exceeds Twenty Thousand Dollars ($20,000), there shall be no indemnification by Seller of Buyer under Section 5.5.a or reduction to the Purchase Price under Sections 5.5.b or 5.5.c until such time as the total of these excess amounts (over $20,000) exceeds five percent (5%) of the Purchase Price (the "Environmental Threshold Amount"). If the Environmental Threshold Amount is exceeded, the Purchase Price reduction shall include the Single Environmental Incident Threshold Amount for those Environmental Defects that exceed such threshold and are conveyed to Buyer under Section 5.5.b and shall include the Allocated Value of those Assets with an Allocated Value in excess of Twenty Thousand Dollars ($20,000) that are retained by Seller under Section 5.5.c. The total of the Purchase Price reductions under Sections 5.5.b and 5.5.c is the "Environmental Purchase Price Adjustment").
Environmental Thresholds. Seller shall have no obligation and there shall be no reduction to the Purchase Price under Sections 5.5.a or 5.5.b unless Seller's share of the Actual Environmental Defect Value as to any single Environmental Defect incident would exceed Ten Thousand Dollars ($10,000) ( a "QUALIFYING ENVIRONMENTAL DEFECT"). For the purposes of application of the foregoing threshold, "single Environmental Defect incident" shall be an Environmental Defect applicable on a well by well or property by property basis. In addition, there shall be no reduction to the Purchase Price under Sections 5.5.a or 5.5.b until such time as Seller's share of the total of these amounts for Qualifying Environmental Defects exceeds one percent (1%) of the Purchase Price (the "ENVIRONMENTAL THRESHOLD AMOUNT") , and, in such event, the Purchase Price reductions shall exclude the Environmental Threshold Amount. The amount by which the total Purchase Price reductions under Sections 5.5.a and 5.5.b exceed the Environmental Threshold Amount is the "ENVIRONMENTAL PURCHASE PRICE ADJUSTMENT."
Environmental Thresholds. HUD shall determine whether a NEPA envi- ronmental assessment is required. Also, HUD shall determine whether the proposed property triggers thresholds for the applicable Federal environ- mental laws and authorities listed under 24 CFR 50.4 as follows:
(1) For minor rehabilitation of a building and acquisition of any prop- erty, Federal environmental laws and authorities may apply when the prop- erty is:
(i) Located within designated coastal barrier resources;
Environmental Thresholds. 14 5.7 Environmental Dispute Resolution.............................................................. 14
Environmental Thresholds. HUD shall determine whether a NEPA envi- ronmental assessment is required. Also, HUD shall determine whether the proposed property triggers thresholds for the applicable Federal environ- mental laws and authorities listed under 24 CFR 50.4 as follows:
(1) For minor rehabilitation of a building and acquisition of any prop- erty, Federal environmental laws and authorities may apply when the prop- erty is:
(i) Located within designated coastal barrier resources;
(ii) Contaminated by toxic chemicals or radioactive materials;
(iii) Located within a floodplain;
(iv) A building for which flood insur- ance protection is required;
(v) Located within a runway clear zone at a civil airport or within a clear zone or accident potential zone at a military airfield; or
(vi) Listed on, or eligible for listing on, the National Register of Historic Places; located within, or adjacent to, an historic district, or is a property whose area of potential effects includes a historic district or property.
(2) For major rehabilitation of a building or for new construction or re- building, and environmental assess- ment under NEPA is required and, in addition to paragraph (b)(1)(i) through