Known Environmental Liabilities definition
Examples of Known Environmental Liabilities in a sentence
On or before Closing, the Purchaser shall obtain a credit enhancement reasonably acceptable to Seller providing for not less than twenty five million dollars ($25,000,000) of aggregate environmental liability insurance from a reputable national insurance carrier, subject to a general per occurrence deductible of $250,000 with a deductible of up to $1 million for specified Known Environmental Liabilities.
Notwithstanding the procedure set forth in this Section 14.4(b)(i), the parties hereto agree that all Known Environmental Liabilities are deemed to be Seller's Remediation.
Although we are currently seeking to negotiate such an agreement with Clarios as further discussed herein, as of the date of this prospectus supplement, we have not entered into any such licensing, joint venture or strategic alliance agreements, apart from our equipment supply agreement with Clarios, and there can be no assurance that we will be able to do so on terms that benefit us, if at all.
The acceptance letter must be presented in a signed / stamped letter of request on the buyer company’s letter headed paper.
If Seller believes that it has remediated or corrected any of the Known Environmental Liabilities set forth on Schedule 1.57 prior to Closing, Seller will submit a list of those remediated or corrected items to Buyer.