Environmental Defect Notice definition

Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

Environmental Defect Notice as defined in Section 5.03.

Environmental Defect Notice has the meaning specified in Section 5.8(a).

Examples of Environmental Defect Notice in a sentence

• Any matters that may otherwise have constituted Environmental Defects, but that are not so described in a timely Environmental Defect Notice complying with this Section 5.03, together with any environmental matter that does not constitute an Environmental Defect, shall be deemed to have been waived by Buyer for all purposes and constitute an Assumed Obligation.

• Buyer’s calculation of the Remediation Amount included in the Environmental Defect Notice must describe in reasonable detail the Remediation proposed for the Environmental Condition that gives rise to the asserted Environmental Defect and identify all assumptions used by Buyer in calculating the Remediation Amount, including the standards that Buyer asserts must be met to comply with Environmental Laws.

• Buyer’s calculation of the Remediation Amount included in the Environmental Defect Notice must describe in reasonable detail the Remediation proposed for the Environmental Condition that gives rise to the asserted Environmental Defect and identify all assumptions used by the Buyer in calculating the Remediation Amount, including the standards that Buyer asserts must be met to comply with Environmental Laws.

• The Environmental Arbitrator, however, may not award Buyer its share of any greater Remediation Amount than the Remediation Amount claimed by Buyer in its applicable Environmental Defect Notice.

• For any Environmental Defect asserted in an Environmental Defect Notice and not Remediated before Closing (and subject to Seller’s right to contest the existence of any Environmental Defect or the amount of any Environmental Defect Value as set forth in Section 8.5), subject to Section 8.6, the Purchase Price shall be reduced by the Environmental Defect Value for such Environmental Defect.

More Definitions of Environmental Defect Notice

Environmental Defect Notice is defined in Section 8.2.

Environmental Defect Notice means a written notice of an Environmental Defect that contains the information set forth in Section 5.1(b) made by Buyer to Seller on or before the Defect Notice Date.

Environmental Defect Notice has the meaning set forth in Section 3.17.

Environmental Defect Notice is defined in Section 4.3(a).

Environmental Defect Notice means a written notice given by Buyer to Seller alleging an Environmental Defect. To be effective, each Environmental Defect Notice must be in writing, received by Seller on or before the expiration of the Environmental Examination Period and satisfy the following conditions precedent: (i) name the affected Asset, (ii) describe the condition that causes the Environmental Defect, (iii) provide reasonable factual substantiation for the Environmental Defect, and (iv) state the Environmental Defect Value. For the purpose of the preceding sentence, “factual substantiation for the Environmental Defect” shall mean reports prepared by, or the basis of tests performed by the Environmental Consultant.

Environmental Defect Notice is defined in Section 8.2. “Environmental Defect Rejection Notice” is defined in Section 8.5. “Environmental Defect Value” is defined in Section 8.2.

Environmental Defect Notice means a written notice given by Buyer to Seller alleging an Environmental Defect. To be effective, each Environmental Defect Notice must be in writing and must satisfy the following conditions precedent: (i) name the affected Asset, (ii) describe the condition that causes the Environmental Defect, (iii) provide reasonable factual substantiation for the Environmental Defect, and (iv) state the estimated cost to remediate as calculated by the Environmental Consultant. To be valid, all Environmental Defect Notices must be received by Seller on or before December 12, 2006 at 5:00 p.m. Mountain Time. For the purpose of the preceding sentence, "factual substantiation for the Environmental Defect" shall mean reports prepared by, or the basis of tests performed by the Environmental Consultant.