Funding of Environmental Cleanup Costs Sample Clauses

Funding of Environmental Cleanup Costs. Provided the conditions set forth in Section 2 above occurs, Xxxxxxxx agrees to reimburse Optionee for actual environmental cleanup costs in an amount not to exceed $2,000,000, and which amount shall be paid equally (i.e., 50/50) by County and Agency on a monthly rolling basis upon submission of environmental cleanup cost draw requests submitted by Optionee to the Optionor. Prior to the payment of such costs by Optionor, Optionee shall provide Optionor any and all necessary invoices, records or reports generated as a part of the environmental cleanup effort and to properly substantiate costs associated with each environmental cleanup draw request. The Agency and County shall make their respective reimbursements to Optionee within sixty (60) days following receipt of written notice that the condition set forth in Section 2 has occurred and after County and Agency’s receipt of each environmental cleanup draw request and documentation set forth above to the satisfaction of the County and Agency.