Environmental Event definition

Environmental Event shall have the meaning set forth in Section 12.2.1.
Environmental Event is defined as, without limitation, any assertion or claim made against Seller or Purchaser by any government agency or third party, alleging the Release of Hazardous Substances or environmental contamination of any kind on or in connection with the Property or other affected property in the vicinity (“Affected Property”), as well as the personal injury or property loss to persons caused by:
Environmental Event shall have the meaning assigned to such term in Section 7.01(m).

Examples of Environmental Event in a sentence

  • Environmental Events - Reportable Environmental Event (REE)-1, REE-2 and Category 3 environmental event when a notification is made to an external agency.


More Definitions of Environmental Event

Environmental Event means the occurrence of any of the following: (a) any noncompliance with an Environmental Law; (b) any event on, at or from the Premises in question or related to the operation thereof of such a nature as to require reporting to applicable Governmental Authorities under any Environmental Law; (c) an emergency environmental condition; (d) the existence or discovery of any spill, discharge, leakage, pumpage, drainage, pourage, interment, emission, emptying, injecting, escaping, dumping, disposing, migration or other release of any kind of hazardous materials on, at or from the Premises in question which may cause a material threat or actual material injury to human health, the environment, plant or animal life or (e) any threatened or actual Environmental Complaint.
Environmental Event with respect to any Borrower means (i) the generation, storage, disposal, removal, transportation or treatment of Hazardous Materials in violation of applicable law (A) on any real property owned, occupied or operated by such Borrower or any Person for whose conduct such Borrower is responsible (“Real Property”), or (B) in the vicinity of any Real Property, which through soil or ground water migration is reasonably likely to come to be located at or on such Real Property; (ii) the receipt by such Borrower of any written notice or claim of any violation of any Environmental Law or of any action based upon nuisance, negligence or other tort theory alleging liability on the basis of improper generation, storage, disposal, removal, transportation or treatment of Hazardous Materials on any Real Property; or (iii) the presence or release of Hazardous Materials at or from any Real Property, that has resulted in contamination or deterioration of any portion of such property in or to a level of contamination greater than the levels permitted or established by any governmental authority having jurisdiction over the Borrower or any Real Property.
Environmental Event means (a) an environmental event that has occurred or any environmental condition that is discovered in, on, beneath, from or involving any of the Pool Vessels (including the presence, emission or release of Hazardous Materials or the violation of any applicable Environmental Law) for which a remediation or reporting could reasonably be required under applicable Environmental Law, or (b) notification received by Borrower, any Guarantor or any charterer of a Pool Vessel that such charterer, such Guarantor, Borrower, or any Pool Vessel is the subject of an Environmental Action relating to such Pool Vessel that could reasonably be expected to result in any ordered remediation or corrective action or other material liability under applicable Environmental Law.
Environmental Event means any event or series of events arising out of the performance of this Contract which has resulted, or results, in any actual or potential harm to the Environment including any event or series of events not authorised by or in breach of any Law;
Environmental Event means any environmental event or the discovery of any environmental condition in, on, beneath or involving the Property or any portion thereof (including, but not limited to, the presence, emission or release of Hazardous Materials and the violation of any applicable Environmental Law) that in the sole but reasonable judgment of Agent, if not properly mitigated or remediated, might have a material adverse effect on the use, occupancy, possession, value or condition of the Property or any portion thereof.
Environmental Event has the meaning set forth in paragraph (v) of Section 2 hereof.
Environmental Event means, with respect to any Collateral Property, (a) a violation of any Environmental Law with respect to such Collateral Property of which Borrower has received written notice from a governmental authority, or (b) the presence of any Hazardous Substance on, about, or under such Collateral Property that, under or pursuant to any Environmental Law, would require remediation, if in the case of either (a) or (b), such event or circumstance could result in a material adverse effect on the value or operations of such Collateral Property.