Phase I Reports. As soon as available, and in any case within fifteen (15) days prior to closing any Acquisition of Oil and Gas Properties by it, such Loan Party shall deliver to the Lenders a Phase I report covering such Oil and Gas Properties to be acquired in form and substance satisfactory to the Administrative Agent.
Phase I Reports. Prior to closing any acquisition of Oil and Gas Properties where the Borrower's liability for environmental remediation potentially associated with the ownership and/or operation of all such Oil and Gas Properties is expected to exceed $1,000,000, Borrower shall, upon request of Administrative Agent, deliver to Administrative Agent an environmental site assessment report covering such Oil and Gas Properties to be acquired in form and substance satisfactory to Administrative Agent.
Phase I Reports. Based upon the review of the Phase I Reports, the Administrative Agent may require the Borrower to promptly undertake and complete, at its sole cost and expense, whatever additional investigation or remediation the Administrative Agent or the Required Lenders may reasonably request, but in no event shall any such request require any action that would not otherwise be required to comply with Section 5.8.
Phase I Reports. In the event such is obtained in connection with the acquisition of Oil and Gas Properties directly or indirectly through a Subsidiary, each Loan Party shall deliver to the Lenders a copy of a Phase I Report covering such Oil and Gas Properties, and in the event such is not obtained, each Loan Party will provide a Phase I Report upon request by Administrative Agent or any Lender and no more than once per year in the absence of any Event of Default (or as otherwise required to be obtained by Administrative Agent or any Lender by any Governmental Authority), in connection with any future acquisition of any Oil and Gas Properties.
Phase I Reports. After the date of this Agreement but prior to the Closing Date, with respect to each parcel of Owned Real Property and Leased Real Property listed on Section 3J of the Seller Disclosure Letter, Seller shall engage ENVIRON International Corporation (“ENVIRON”) to deliver (i) to Seller a Phase I report that meets the requirements of the ASTM-05 Standard (collectively, “Phase I Reports”) and (ii) to each of Buyer and the lenders for the Debt Financing (or an agent therefor) a copy of the Phase I reports and a reliance letter in customary form for each Phase I Report. Buyer and Buyer Sub each agrees that the Phase I Reports and the information contained therein are subject to the confidentiality restrictions set forth in Section 8C hereof. All fees and expenses of the environmental consultants related to such Phase I Reports shall become due and payable upon the earlier to occur of the Closing and the termination of this Agreement in accordance with its terms and shall be treated as Shared Expense Amount, with each of Seller and Buyer responsible for its Responsible Share Percentage multiplied by fees and expenses related to the Phase I Reports; provided that Seller’s obligations pursuant to clause (y) foregoing shall be deemed satisfied at the Closing to the extent any such fees and expenses are deducted from the Equity Value Amount (including through the calculation of Shared Expense Amount), in which case Buyer and Buyer Sub shall be responsible for paying all such fees and expenses. If a party pays an amount in excess of what it is required to pay pursuant to the foregoing sentence, it shall be entitled to reimbursement from the other party of such overpayment amount. Seller shall cooperate with Buyer in its review of the Phase I Reports, including by making personnel of Seller, Seller’s attorneys and ENVIRON available to discuss the results thereof and, if any of such Phase I Reports report a Recognized Environmental Condition, as defined in the above-referenced ASTM standards (a “REC”) that (a) was not reported in any phase I reports, environmental reports and/or other due diligence information or documentation made available to Buyer, Buyer Sub and/or any of their representatives prior to the date hereof, (b) in the reasonable judgment of Buyer or Seller, is not covered by the indemnification obligations of Sellers (as defined in the OMX Purchase Agreement) pursuant to Article 17 of the OMX Purchase Agreement, (c) would reasonably be expected to result ...
Phase I Reports. As soon as available, and in any case within three (3) Business Days prior to closing an acquisition of Borrowing Base Properties where (i) the value of the Borrowing Base Properties acquired exceeds $5,000,000, and (ii) the Borrower’s liability for environmental remediation potentially associated with the ownership and/or operation of all such Borrowing Base Properties is reasonably expected to exceed $100,000, Borrower shall deliver to Administrative Agent an environmental site assessment report covering such Borrowing Base Properties to be acquired in form and substance reasonably satisfactory to Administrative Agent.
Phase I Reports. Section 6.2.4
Phase I Reports. Obtain Phase I reports (and if such Phase I report indicates further inquiry would be prudent, reports of such further inquiry) from reputable consultants with respect to each Health Care Facility acquired by the Company or any of its Subsidiaries following the Closing Date, and deliver to the Agent copies of such reports promptly after receipt of a written request therefor.
Phase I Reports. In the event such is obtained in connection with the acquisition of Oil and Gas Properties directly or indirectly through a subsidiary or otherwise, the Partnership shall deliver to the Representative a copy of a Phase I Report covering such Oil and Gas Properties, and in the event such is not obtained, the Partnership will provide a Phase I Report upon request by the Representative and no more than once per year in the absence of any Event of Default (or as otherwise required to be obtained by the Representative of any Governmental Authority), in connection with any future acquisition of any Oil and Gas Properties.
Phase I Reports. Lessor shall provide to Lessee, at Lessor's sole cost and expense, a Phase I Environmental Report (the "Lessor Environmental Report") prior to the execution of the Lease. Lessee's execution of the Lease shall be deemed Lessee's approval of the Lessor Environmental Report. No later than ninety (90) days prior to the end of the Lease term, Lessee, at its sole cost and expense, shall provide to Lessor a current Phase I Environmental Report which shall be dated no earlier than one hundred twenty (120) days prior to the end of the Lease term.
