Phase I Environmental Assessment definition

Phase I Environmental Assessment. A “Phase I assessmentas described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.

More Definitions of Phase I Environmental Assessment

Phase I Environmental Assessment means a “Phase I assessmentas described in and meeting the criteria of the American Society of Testing and Materials Standard E 1527-05 or any successor thereto published by the American Society of Testing Materials.
Phase I Environmental Assessment. A "Phase I assessment" or, in the case of any Serviced Loan having an initial principal balance under $1,000,000, a transaction screen, as described in, and meeting the criteria of, the American Society of Testing Materials Standard Sections 1527-99 or any successor thereto published by the American Society of Testing Materials.
Phase I Environmental Assessment means a Phase I environmental site assessment prepared in substantial conformance with ASTM 1574E-13 standards.
Phase I Environmental Assessment. A "Phase I assessment" or, in the case of certain Mortgage Loans having an initial principal balance under $1,000,000, a transaction screen, as described in, and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any successor provisions covering the same subject matter, in the case of Specially Serviced Mortgage Loans as to which the related Mortgaged Property is multifamily property or (ii) the American Society for Testing and Materials in the case of Specially Serviced Mortgage Loans as to which the related Mortgaged Property is a non-multifamily property.
Phase I Environmental Assessment means a "Phase I assessment" as described in and meeting the criteria of the American Society for Testing and Materials, Designation E-1527.
Phase I Environmental Assessment means an environmental assessment that is consistent with ASTM 1527 05 and that may include, at Purchaser’s election, an assessment of the presence, amount, physical condition and location of asbestos-containing materials, lead-based paint and toxic mold. For the purpose of this Section 5.15, “Phase II Environmental Assessment” means an intensified environmental assessment designed to further define previously identified conditions, circumstances or risks and that may include physical sampling, testing and analysis of paint, building materials or any environmental condition or medium (including air, indoor air, surface water, groundwater, soil, and subsurface strata). Any Phase I Assessment or Phase II Assessment undertaken pursuant to this Section 5.15 shall be conducted by one of the independent environmental professionals set forth on Schedule 5.15 hereto.