Material Adverse Environmental Condition definition

Material Adverse Environmental Condition shall have the meaning set forth in Section 2.4(c).

Material Adverse Environmental Condition as used herein means any contamination or other condition or combination of contaminations and conditions caused by or related to Hazardous Substances in violation of any applicable Environmental Law, which contaminations or conditions would be reasonably expected to result in liabilities or remediation costs in excess of $100,000 in the aggregate.

Material Adverse Environmental Condition is defined in Section 8.2(a).

Examples of Material Adverse Environmental Condition in a sentence

• If Seller agrees to remedy any specific Material Adverse Environmental Condition or Material Defect in the Property, then all negotiations and contacts with Governmental Agencies for approval and review of such remedial action shall be made by Seller, and Buyer shall make no independent contacts with any of the Governmental Agencies relative to such remedial action.

• Notwithstanding the delivery of a notice of termination by Buyer to Seller, this Agreement shall not be terminated if, within thirty (30) days after Seller's receipt of such notice: (1) Seller remedies or agrees to remedy, to a degree which is mutually agreed during the referenced thirty (30) day period, such Material Adverse Environmental Condition or Material Defect; or (2) Seller and Buyer mutually agree on an adjustment to the Purchase Price.

• Except as hereinafter provided, Buyer shall have the option of terminating this Agreement by providing written notice to Seller on or before the last day of the Review Period, in the event Buyer determines during the Review Period that the Property is subject to any: (1) Material Adverse Environmental Condition, or (2) Material Defect.

• To be effective, any such notice shall specifically identify and describe the basis for such termination, and shall include reasonable evidence of the Material Defect or Material Adverse Environmental Condition leading to the termination notice.

• It also joins two very common words derived from Old and Middle English – “all” and “big” – in a way that is perhaps designed to imply that the faction called the Zarazians does not stand for the whole country, and is both small and somehow foreign.34 At an etymological level, then, the title page gestures towards linguistic diversity and the fracturing effect of translation.

More Definitions of Material Adverse Environmental Condition

Material Adverse Environmental Condition shall have the meaning set forth in Section 2.5(c).

Material Adverse Environmental Condition as used herein means any contamination or other condition or combination of contaminations and conditions caused by or related to Hazardous Substances in violation of any applicable Environmental Law (other than contamination to the extent expressly disclosed in any Existing Environmental Report), which contaminations or conditions would be reasonably expected to result in liabilities or remediation costs in excess of $150,000 in the aggregate.

Material Adverse Environmental Condition means an Adverse Environmental Condition with respect to which the Remediation Costs will exceed Six Million Dollars ($6,000,000).

Material Adverse Environmental Condition means an environmental condition that is reasonably likely to cost more than $25,000 to remediate to a commercial use standard, as determined by such environmental consultant. If Purchaser objects to any Material Adverse Environmental Condition that impacts the Banking Center, then Seller shall have the right, but not the obligation, to cure any such Material Adverse Environmental Condition. If Seller is unable or unwilling to cure such problem prior to the Effective Time, then, as Purchaser's sole and exclusive remedy, Purchaser shall have the option either to terminate this Agreement (upon written notice to Seller) or to accept the Banking Center in the then existing condition and without the benefit of the indemnification provisions of Article IV hereof.

Material Adverse Environmental Condition means an environmental condition that is reasonably likely to cost more than $75,000 to remediate to a commercial use standard, as determined by such environmental consultant. If Purchasers object to any Material Adverse Environmental Condition which impacts the Banking Centers, Sellers shall have the right, but not the obligation, to cure any such Material Adverse Environmental Condition. If Sellers are unable or unwilling to cure such problem prior to the Effective Time, Sellers shall transfer title to the Banking Center with the uncured Material Adverse Environmental Condition to Purchasers and Purchasers shall be entitled to the indemnification provided by Article IV with respect to such uncured Material Adverse Environmental Condition.

Material Adverse Environmental Condition means a condition that (i) applicable Environmental Laws in effect as of the Effective Date required to be remediated, and (ii) the cost to remediate the Condition to the levels required by applicable Environmental Laws exceeds $15,000; however if the total cost to remediate all such Conditions exceeds $75,000 then all such circumstances shall in the aggregate be deemed to be a material adverse environmental condition.

Material Adverse Environmental Condition as used herein means contamination at an Owned Branch by Hazardous Substances in violation of any applicable Environmental Law (other than contamination to the extent disclosed in any Existing Environmental Report), which contamination at such Branch (without aggregation of contamination at other Branches) has, or would be reasonably expected to have, individually or in the aggregate, a material adverse impact on the financial condition, operations or business of the Florida Franchise, taken as a whole. Either party shall have the right to delay the Closing for a reasonable period (but not in excess of 30 calendar days) if such party determines that such delay is required in order for Sellers to cure any Material Adverse Environmental Condition, to determine any potential Defect Reduction Amount or otherwise carry out the terms of this Section 2.10.