Phase I definition
Examples of Phase I in a sentence
Neither Purchaser nor its Representatives may operate any equipment or conduct any testing or sampling of soil, groundwater or other materials (including any testing or sampling for Hazardous Substances, Hydrocarbons or NORM) on or with respect to the Assets (the “Invasive Activity”) prior to the Closing without the prior written consent of Sellers, and all such activities shall be deemed outside of the scope of a Phase I Environmental Site Assessment.
It is understood and agreed that a customary Phase I Environmental Site Assessment shall not be deemed an invasive study.
For the avoidance of doubt, the existence and contents of any Phase I Environmental Site Assessment conducted by or on behalf of Purchaser on the Assets shall be deemed to be “confidential information” for the purposes of this Agreement and the Confidentiality Agreement.