Environmental Escrow definition
Examples of Environmental Escrow in a sentence
This release shall be contained in the special warranty deeds to be delivered at closing or included in a separate document and placed of record against the Environmental Escrow Properties.
Mortgagor shall promptly perform and comply with all of the obligations, covenants, conditions and prohibitions required of Mortgagor by the terms of the Environmental Escrow Agreement.
Upon the correcting of all Environmental Conditions or other resolution reasonably satisfactory to Lender with respect thereto, provided no Event of Default is then continuing, any amounts then remaining in the Environmental Escrow Account shall promptly be remitted to Borrower and the Environmental Escrow Account will no longer be maintained.
The Environmental Escrow Account shall be established pursuant to the Escrow Agreement as security for the performance by Seller of the Corrective Actions or UST Repair Actions, in each case for which Seller has Responsibility.
All terms beginning with initial capital letters not otherwise defined in this Certificate have the same meaning as set forth in the Environmental Escrow Agreement.
Buyer may assign the rights, duties and obligations contained in this Agreement, in whole or in part, to any subsequent owner of any of the Environmental Escrow Properties, provided that Buyer shall in no event be released from any of its obligations or liabilities hereunder as a result of any such assignment.
Subject to the provisions of this Agreement, including, but not limited to, Section 1, the Remediation of the Environmental Escrow Properties is at the sole direction of Buyer.
Upon the correcting of all Deferred Maintenance Conditions, provided no Event of Default or Trigger Period is then continuing, any amounts then remaining in the Deferred Maintenance Reserve Account shall promptly be remitted to Borrower and the Deferred Maintenance and Environmental Escrow Account will no longer be maintained.
On or prior to the Closing Date, the parties shall enter into the Environmental Escrow Agreement substantially in the form set forth in Exhibit 11.5.2 (the "Environmental Escrow Agreement").
The Parent's environmental consultants shall have completed to Parent's reasonable satisfaction the Phase II environmental assessment referred to in Section 6.6(a) and the Parent and the Company shall have agreed upon the Rochester Environmental Escrow Amount.