Common use of Notice of Environmental Defects Clause in Contracts

Notice of Environmental Defects. (a) If Buyer discovers any Environmental Defect affecting the Assets, Buyer shall notify Seller prior to the expiration of the Examination Period of such alleged Environmental Defect. To be effective, such notice must: (i) be in writing; (ii) be received by Seller prior to the expiration of the Examination Period and (iii) describe the Environmental Defect in reasonable detail, to the extent reasonably known by Buyer (including the estimated value of such Environmental Defect as determined by Buyer).

Notice of Environmental Defects. (a) If Buyer discovers any Environmental Defect affecting the AssetsDefect, Buyer shall promptly notify Seller thereof prior to the expiration of the Environmental Examination Period of such alleged Environmental DefectPeriod. To be effective, such notice must: (ian “Environmental Defect Notice”) shall be in writing; writing and shall include (iia) be received by Seller prior to a description of each alleged Environmental Defect, (b) the expiration of the Examination Period and Asset or portion thereof affected thereby (iii) describe the each “Environmental Defect in reasonable detailProperty”), to (c) the extent reasonably known by Buyer (including the estimated value of such Environmental Defect as determined by BuyerProperty (which shall be the Allocated Value thereof).,