Definition of Adverse Environmental Conditions


Adverse Environmental Conditions means with respect to the Assets:
Sample 1

Examples of Adverse Environmental Conditions in a sentence

The "Environmental Defect Value" attributable to any Adverse Environmental Condition shall be the estimated amount (net to Seller's interest) of all reasonable costs and claims necessary to Remediate the Adverse Environmental Conditions, as reasonably determined and estimated by Buyer.
At any time on or prior to the Defect Notification Deadline, Buyer may provide Seller with one or more written notices (each, an Adverse Environmental Condition Notice) of the existence of one or more Adverse Environmental Conditions at or relating to any Lease, Well or Fee Interest.
Any matters that may otherwise constitute Adverse Environmental Conditions, but of which Seller has not been specifically notified by Buyer in accordance with the foregoing, shall be deemed to have been waived by Buyer for all purposes under this Agreement.
Buyer also shall be deemed to have conclusively waived all Adverse Environmental Conditions not disclosed to Sellers before seven (7) days prior to Closing.
From the date hereof until no later than three (3) days prior to the Closing Date, Buyer may determine, through the Environmental Diligence Review, subject to the requirements of this Article VI, if any Adverse Environmental Conditions exist.