Common use of Notice of Environmental Defects Clause in Contracts

Notice of Environmental Defects. To assert a claim for an Environmental Defect, Buyer must promptly notify Seller thereof prior to the expiration of the Environmental Examination Period. To be effective, such notice (an “Environmental Defect Notice”) shall be in writing and shall include (a) a detailed description of the alleged Environmental Defect(s), (b) the Assets affected thereby (each, an “Environmental Defect Property”), (c) the value of each Environmental Defect Property (which shall be the Allocated Value thereof), (d) documentation sufficient to reasonably support the asserted Environmental Defect(s), and (e) the amount which Buyer reasonably believes is the Lowest Cost Response to cure the alleged Environmental Defect(s) and the computations and information upon which Buyer’s belief is based. Any matters that may otherwise constitute Environmental Defects but that are not specifically disclosed to Seller pursuant to an Environmental Defect Notice prior to the expiration of the Environmental Examination Period shall be deemed to have been waived by Buyer.

Notice of Environmental Defects. To assert a claim for an If Buyer discovers any Environmental Defect, Buyer must promptly shall notify Seller thereof prior to the expiration of the Environmental Examination Period. To be effective, such notice (an “Environmental Defect Notice”) shall be in writing and shall include (a) a detailed description of the alleged Environmental Defect(s), (b) the Assets Interests affected thereby (each, an “Environmental Defect Property”)thereby, (c) the value of each the Interests subject to the alleged Environmental Defect Property Defect(s) (which shall be the Allocated Value thereof, if specified, or based upon the Allocated Value of the affected Interests), (d) documentation sufficient to reasonably support the asserted Environmental Defect(s), ) and (e) the amount which Buyer reasonably believes is the Lowest Cost Response to cure the alleged Environmental Defect(s) and the computations and information upon which Buyer’s belief is based. Any matters that may otherwise constitute Environmental Defects but that are not specifically disclosed to Seller pursuant to an Environmental Defect Notice in accordance with the foregoing prior to the expiration of the Environmental Examination Period shall be deemed to have been waived by Buyer.

Notice of Environmental Defects. To assert a claim for an If Buyer discovers any Environmental Defect, Buyer must shall promptly notify Seller thereof within 3 business days of such discovery and, in any event, prior to the expiration of the Environmental Examination Period. To be effective, such notice of an Environmental Defect (an “"Environmental Defect Notice”") shall be in writing and shall include (a) a detailed description of the alleged Environmental Defect(s)) including the GPS coordinates of the Condition, (b) documentation, including any physical measurements or, to the Assets affected thereby (eachextent permitted by Seller under Section 5.01, an “Environmental Defect Property”)lab analyses, (c) the value of each Environmental Defect Property (which shall be the Allocated Value thereof), (d) documentation or photographs sufficient to reasonably support the asserted Environmental Defect(s), and (ec) the amount which Buyer reasonably believes is to be the Lowest Cost Response to cure the alleged Environmental Defect(s) and the computations and information upon which Buyer’s 's belief is based, and (d) the Specific Environmental Regulation (and date promulgated) that has been violated. Any matters that may otherwise constitute Environmental Defects but that are not specifically disclosed to Seller pursuant to an Environmental Defect Notice prior to the expiration of the Environmental Examination Period shall be deemed to have been waived by Buyer.