Phase I Assessments. If the Phase I assessments described in Section 4(n) above prescribe further testing or indicate that the Real Estate is not in compliance with Environmental Laws or that certain conditions must be remedied, Seller shall bear the cost of such further testing or remedial measures up to Fifty Thousand Dollars ($50,000). In the event the cost of further testing or remedial measures exceeds Fifty Thousand Dollars, either (i) Seller shall agree to bear such excess cost and shall complete the testing and remedial measures to the satisfaction of Buyers, or (ii) if the Seller declines to bear such expense, Buyer shall have the right to terminate the Agreement without penalty under Section 9(a)(vii) below.
Phase I Assessments. For any First Choice Leased Property which is identified by Enterprise within twenty (20) days of this Agreement, Enterprise may, at its sole cost and expense, obtain, within sixty (60) days after the date of such notice, written reports of a Phase I ESA for, and of the presence or absence of asbestos-containing material (“ACM”) at, each such property, prepared by an environmental consultant or consultants experienced in performing Phase I ESAs of, and in investigating for ACM at, such real property (“Environmental Consultant”) and reasonably acceptable to First Choice. Each Phase I ESA and report on ACM (an “ACM report”) shall be delivered in counterparts to Enterprise and First Choice. The Environmental Consultant will include customary language allowing both Enterprise and First Choice to rely upon its findings and conclusions. The Environmental Consultant will provide a draft of any Phase I ESA to First Choice and Enterprise for review and comment prior to the finalization of such report. Notwithstanding the foregoing, except as set forth in this Section, neither Enterprise nor the Environmental Consultant will conduct or cause to be conducted any invasive, intrusive or destructive inspections or other sampling or testing on the First Choice Leased Property, including, without limitation, of the air, soil, soil gas, vapors, surface water, groundwater, building materials or other environmental media, thereon.
Phase I Assessments. For any Company Owned Property, any Company OREO Property and any Company Leased Property which is identified by Parent within fifteen (15) days following the date of this Agreement, Parent may, at its sole cost and expense, obtain, within sixty (60) days after the date of such notice, written reports of a Phase I ESA for each such property, prepared by an environmental consultant experienced in performing Phase I ESAs of real property (“Environmental Consultant”) and acceptable to Company. Each Phase I ESA shall be delivered in counterparts to Parent and Company. The Environmental Consultant will include customary language allowing both Parent and Company to rely upon its findings and conclusions. The Environmental Consultant will provide a draft of any Phase I ESA to Company and Parent for review and comment prior to the finalization of such report. Notwithstanding the foregoing, except as set forth in this Section, neither Parent nor the Environmental Consultant will conduct or cause to be conducted any invasive, intrusive or destructive inspections or other sampling or testing on the Company Owned Property or Company Leased Property, including, without limitation, of the air, soil, soil gas, vapors, surface water, groundwater, building materials or other environmental media, thereon.
Phase I Assessments. The City anticipates completing eight Phase I ESAs with grant funding. Our four high priority sites will be completed initially. Other sites selected for Phase I ESAs will be determined by community input, access, and funding availability. All Phase I ESAs will follow procedures specified in the American Society for Testing & Materials (ASTM) Standard Practice for Environmental Site Assessment (E-1527-13) and the EPA approved All Appropriate Inquiry Rule (AAI). The primary goal for this activity is to make an “appropriate inquiry into previous ownership and use of the property consistent with good commercial or customary practice.” There are four
Phase I Assessments. Section 5.2(b) Post-Closing Tax Period Section 6.4 Pre-Closing Tax Period Section 6.4
Phase I Assessments. For any Company Owned Property, any Company OREO Property and any Company Leased Property which are identified by Buyer within fifteen (15) days following the date of this Agreement, Buyer may, at its sole cost and expense, obtain, within sixty (60) days after the date of such notice, written reports of a Phase I ESA for each such property, prepared by an environmental consultant experienced in performing Phase I ESAs of real property (“Environmental Consultant”) and acceptable to the Company. Each Phase I ESA shall be delivered in counterparts to Buyer and the Company. The Environmental Consultant will include customary language allowing both Buyer and Company to rely upon its findings and conclusions. The Environmental Consultant will provide a draft of any Phase I ESA to Company and Buyer for review and comment prior to the finalization of such report. Notwithstanding the foregoing, except as set forth in this Section, neither Buyer nor the Environmental Consultant will conduct or cause to be conducted any invasive, intrusive or destructive inspections or other sampling or testing on the Company Owned Property or Company Leased Property, including, without limitation, of the air, soil, soil gas, vapors, surface water, groundwater, building materials or other environmental media, thereon.
Phase I Assessments. Purchaser shall have received the Phase I Assessments.
Phase I Assessments. For any Seacoast Owned Property, any Seacoast OREO Property and any Seacoast Leased Property which is identified by Enterprise within fifteen (15) days following the date of this Agreement, Enterprise may, at its sole cost and expense, obtain, within sixty (60) days after the date of such notice, written reports of a Phase I ESA for each such property, prepared by an environmental consultant experienced in performing Phase I ESAs of real property (“Environmental Consultant”) and acceptable to Seacoast. Each Phase I ESA shall be delivered in counterparts to Enterprise and Seacoast. The Environmental Consultant will include customary language allowing both Enterprise and Seacoast to rely upon its findings and conclusions. The Environmental Consultant will provide a draft of any Phase I ESA to Seacoast and Enterprise for review and comment prior to the finalization of such report. Notwithstanding the foregoing, except as set forth in this Section, neither Enterprise nor the Environmental Consultant will conduct or cause to be conducted any invasive, intrusive or destructive inspections or other sampling or testing on the Seacoast Owned Property or Seacoast Leased Property, including, without limitation, of the air, soil, soil gas, vapors, surface water, groundwater, building materials or other environmental media, thereon.
