Environmental Defect Threshold definition

Environmental Defect Threshold means $50,000.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Environmental Defect Threshold means an amount equal to $50,000 per condition (on an 8/8ths basis).

Environmental Defect Threshold means $100,000.

Examples of Environmental Defect Threshold in a sentence

The Parties agree that if the same Environmental Defect affects more than one Asset, then the Environmental Defect Amounts for each Asset affected by such Environmental Defect shall be aggregated for the purposes of determining whether the Individual Environmental Defect Threshold has been met with respect to such Environmental Defect.
If the Aggregate Environmental Defect Threshold is exceeded then at the Purchaser’s option, any Property that Purchaser designates that is affected by specific Environmental Defects in excess of the Individual Environmental Defect Threshold (which Environmental Defect Seller has not elected to cure) will not be conveyed at the Closing.
Promptly, but in no event later than five Business Days, after the Environmental Arbitrator renders its decision as to all Environmental Disputed Matters and assuming Closing has occurred, Seller shall deliver to Buyer by wire transfer of immediately available funds an amount equal to the Remediation Costs as determined by the Environmental Arbitrator, if any (and further subject to the application of the Environmental Defect Threshold and Aggregate Deductible, as provided in this Article V).
Buyer shall not be entitled to allege Environmental Defects until the aggregate of all Environmental Defects which exceed the Environmental Defect Threshold exceeds three per cent (3%) of the Purchase Price prior to any adjustments thereto (the "Environmental Defect Deductible").
If the Environmental Expert determines there is an Environmental Defect, and the amount of such Defect exceeds the Individual Environmental Defect Threshold and the amount of all Environmental Defects exceeds the Environmental Defect Deductible, Seller shall indemnify Buyer against all liability, loss, cost and expense resulting from such Environmental Defect in excess of the Defect Threshold to the extent the aggregate of all Environmental Defect Amounts exceeds the Environmental Defect Deductible.

More Definitions of Environmental Defect Threshold

Environmental Defect Threshold has the meaning set forth in Section 12.10(d)(i).

Environmental Defect Threshold as defined in Section 7.

Environmental Defect Threshold means an amount equal to $100,000.00 per condition, net to Seller’s interest.

Environmental Defect Threshold means an amount equal to Seventy-Five Thousand Dollars ($75,000).

Environmental Defect Threshold means $30,000.

Environmental Defect Threshold means $15,000.

Environmental Defect Threshold means an amount equal to $50,000 per condition (on an 8/8ths basis). “Environmental Disputed Matters” is defined in Section 5.2(b).