{"component": "clause", "props": {"groups": [{"snippet": "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\u2019s 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.", "samples": [{"hash": "bn4aSlo26Ni", "uri": "/contracts/bn4aSlo26Ni#phase-i-reports", "label": "Credit Agreement (Cinco Resources, Inc.)", "score": 23.1793289185, "published": true}, {"hash": "1zjDjGqA7Vz", "uri": "/contracts/1zjDjGqA7Vz#phase-i-reports", "label": "Credit Agreement (Cinco Resources, 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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\u2019s 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\u2019s 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 \u201cREC\u201d) 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 in liability to Buyer or its post-Closing Subsidiaries in excess of $2,000,000, and (d) in the reasonable judgment of Buyer or Seller, has a material uncertainty as to the extent of the liability to Buyer or it post-Closing Subsidiaries, then within 10 days after receipt of each such Phase I Report, either party may request that further investigation of any such REC be conducted by ENVIRON or another contractor agreed upon by the parties (a \u201cPhase II Investigation\u201d), with the expense of the Phase II Investigation to be shared in the same manner as the Phase I Reports. 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