Phase I Environmental Assessments. The Stockholders have delivered all Phase I Environmental Surveys requested by Group 1. Prior to Closing the Stockholders will complete at their cost all cure and remediation efforts recommended in such surveys, and, to the best of Stockholders' knowledge, the Company will have no residual liability with regard to any matter revealed in such surveys.
Phase I Environmental Assessments. Prior to Closing Buyer shall have the right, at its sole cost and expense, to engage an environmental consulting firm to conduct a Phase I Environmental Assessment and Compliance Review, as such terms are commonly understood (“Phase I Environmental Assessment”) with respect to any and all Owned Real Property, provided that (a) any such Phase I Environmental Assessment shall be conducted only (i) during regular business hours, (ii) with no less than five (5) Business Days prior written notice to Seller, (iii) in a manner which will not unduly interfere with the operation of the Business and (iv) not involve any use or operation of equipment or any sampling or testing of environmental medial and (b) in respect of the Owned Real Property of the Tribune Business, Buyer and its consultants shall not be permitted to take any action on such Owned Real Property in connection with the conduct of any such Phase I Environmental Assessment that is prohibited by the Merger Agreement. Any damage to the Owned Real Property caused by Buyer and its consultants in conducting any such Phase I Environmental Assessment shall be repaired by Buyer at its sole cost and expense.
Phase I Environmental Assessments. Acquiror may engage an environmental consulting firm (the "Consultant") to conduct, at Acquiror's expense, Phase I Environmental Assessments in accordance with ASTM Standard E-1527-00 of those properties listed on Schedule 3.10(a) (the "Phase I Assessments") to be completed prior to the Closing Date. In the event such Phase I Assessments reveal one or more environmental conditions that are required under applicable Environmental Laws to be reported, investigated, brought into compliance, corrected, and/or remediated (an "Environmental Condition"), then the Acquiror may direct the Consultant, at Acquiror's sole cost, to promptly commence a Phase II investigation in accordance with ASTM Standard E-1903-97 and thereafter the Company shall diligently assist in the pursuit and completion of all actions with respect to any Environmental Condition. If an Environmental Condition is identified that requires correction or remediation under an applicable Environmental Law, Acquiror may, on behalf of the Company, obtain from any Governmental Authority with jurisdiction over the Environmental Conditions, a "no further action letter" or other written notification of full compliance with all applicable standards established by Environmental Laws.
Phase I Environmental Assessments. If requested by the Buyer's lender, or if otherwise reasonably requested by the Buyer, the Sellers shall promptly cause Phase I environmental audits (the "Phase I Environmental Assessments") of the 1735 Facility and the 1201 Facility to be prepared and delivered to the Buyer. Subject to the limitations set forth in the immediately succeeding sentence, the Sellers shall undertake and shall perform until completed all commercially reasonable environmental remediation and corrective actions set forth in the Phase I Environmental Assessments, subject to the limitations set forth in this Section 7.4. The Sellers shall diligently attempt to complete all such corrective actions on or before the Closing Date, and shall bear all fees, costs and expenses (the "Remediation Costs") arising from or in connection with performance of such corrective actions up to an aggregate amount of Two Hundred Thousand ($200,000) Dollars. If the Remediation Costs exceed Two Hundred Thousand ($200,000) Dollars, and the Sellers notify the Buyer that they will not expend funds in excess of such amount for such remediation, the Buyer shall have the option to: (a) pay for any excess Remediation Costs, (b) consummate the transactions contemplated herein, but the Buyer, at its option, will be relieved of the obligation to lease the Facility requiring such corrective action, or (c) terminate this Agreement.
Phase I Environmental Assessments. 60 6.17 Delivery of Financial Projections..............................................................61 6.18 [Intentionally Omitted]........................................................................61 6.19
Phase I Environmental Assessments. The Company shall have delivered to the Purchaser Phase I Environmental Assessments, in form and substance satisfactory to the Purchaser, with respect to certain real property owned or leased by the Company Parties and selected by the Purchaser in its sole discretion.
Phase I Environmental Assessments. Prior to the Closing Date, at Buyer’s sole cost and expense, Buyer may undertake Phase I environmental assessments (the “Phase I Environmental Assessments”) with respect to any or all of the Real Property. The Phase I Environmental Assessments will be undertaken by an environmental consultant selected by Buyer.
