Environmental Threshold definition

Environmental Threshold has the meaning set forth in Section 6.3(c).
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Environmental Threshold means an amount equal to (a) $1,000,000, less (b) any and all actual or estimated losses, claims, damages, costs, expenses (including attorneys’ fees), liabilities or judgments or amounts that are paid in settlement of, or in connection with, the environmental litigation matters set forth on RBPI Disclosure Schedule 4.10.
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Environmental Threshold has the meaning set forth in Section 4.26(g).
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Examples of Environmental Threshold in a sentence

  • If a single Environmental Defect or series of related Environmental Defects affects several Well Locations in the same drilling or spacing unit, then such Environmental Defect(s) shall be deemed to have exceeded the Individual Environmental Threshold if the total amount by which such Environmental Defect(s) reduce(s) the Allocated Value(s) of all the affected Well Locations exceed(s) the Individual Environment Threshold.

  • The Title Threshold and the Environmental Threshold are collectively the "Thresholds".

  • The Title Threshold and the Environmental Threshold are separate and distinct and shall operate independently.

  • The Environmental Threshold and the Title Threshold are separate and distinct and operate independently.

  • The Environmental Threshold shall apply separately to Environmental Defects asserted before Closing (set forth in the previous sentence as item (1)), and Environmental Defects asserted after Closing (set forth in the previous sentence as item (2)).

  • No Indemnified Party shall be entitled to indemnification pursuant to this Section 12.5 until the aggregate amount of all Losses under all claims of all Indemnified Parties for all such matters shall exceed One Million Dollars ($1,000,000.00) (“Environmental Threshold”), at which time all Losses incurred shall be subject to indemnification hereunder in full, including the amount of the Environmental Threshold.

  • The Parties agree that if the same Environmental Condition affects more than one Well, Fee Interest or Undrilled Location, then the Remediation Amounts for each Well, Fee Interest or Undrilled Location affected by such Environmental Condition shall be aggregated, without duplication of any costs or losses included in another Remediation Amount hereunder, for the purposes of determining whether the Individual Environmental Threshold has been met with respect to such Environmental Condition.

  • Seller represents to Buyer that, to Seller’s Knowledge, as of the date hereof, there is no individual Environmental Defect affecting any of the Assets with an Environmental Defect Amount in excess of the Individual Environmental Threshold.

  • If the Parties cannot resolve any Environmental Disputed Matter on or before Closing, the Environmental Defect Property pertaining to such Environmental Disputed Matter will be retained by Seller at Closing, the Purchase Price will be adjusted downward, subject to the Individual Environmental Threshold, by the Allocated Value of such Environmental Defect Property, and such Environmental Disputed Matter will be finally determined by binding arbitration pursuant to Section 15.15.

  • Except as expressly provided in Section 9.6(a)(iii), Corporation may not and has no right to assert or recover for, and there will be no adjustment to the Consideration or other remedy for, any Environmental Liability under this Section 9 unless and until the Lowest Cost Response applicable to such Environmental Liability exceeds the Individual Environmental Threshold.


More Definitions of Environmental Threshold

Environmental Threshold shall have the meaning set forth in Section 12.1(c).
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Environmental Threshold has the meaning assigned to it in Section 6.6(d). “Equipment” has the meaning assigned to it in Section 2.1(g).
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Environmental Threshold means an amount of money equal to one percent (1.0%) of the Purchase Price.
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Environmental Threshold means that the total Environmental Defect Values for all Environmental Defects reduces the Allocated Value of the affected Asset(s) by more than $100,000 in the aggregate for all affected Assets. Buyer shall not be entitled to give notice or to adjustments pursuant to this Section V unless the Environmental Threshold has been reached or exceeded.
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Environmental Threshold has the meaning Section 10.2(b)(iii) specifies.
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Related to Environmental Threshold

  • Environmental Defect Value means, with respect to any Environmental Defect, the value, as of the Closing Date, of the estimated costs and expenses to correct such Environmental Defect in the most cost-effective manner reasonably available, consistent with Environmental Laws, taking into account that non-permanent remedies (such as mechanisms to contain or stabilize hazardous materials, including monitoring site conditions, natural attenuation, risk-based corrective action, institutional controls or other appropriate restrictions on the use of property, caps, dikes, encapsulation, leachate collection systems, etc.) may be the most cost-effective manner reasonably available.

  • Indemnity Threshold has the meaning set forth in Section 9.3.

  • Restoration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Ownership Threshold has the meaning specified in Section 2.1(a).

  • Environmental Contamination means the introduction or presence of Hazardous Materials at such levels, quantities or location, or of such form or character, as to constitute a violation of federal, state or local laws or regulations, and present a material risk under federal, state or local laws and regulations that the Premises will not be available or usable for the purposes contemplated by this Agreement.

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.

  • Environmental Clean-up Site means any location which is listed or proposed for listing on the National Priorities List, the Comprehensive Environmental Response, Compensation and Liability Information System, or on any similar state list of sites relating to investigation or cleanup, or which is the subject of any pending or threatened action, suit, proceeding, or investigation related to or arising from any location at which there has been a Release or threatened or suspected Release of a Hazardous Material.

  • Environmental Requirement means any Environmental Law, agreement or restriction, as the same now exists or may be changed or amended or come into effect in the future, which pertains to health or safety (as they relate to natural resources or the environment), any Hazardous Material, or the environment, including ground, air, water or noise pollution or contamination, and underground or aboveground tanks.

  • Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Material Environmental Amount an amount payable by the Borrower and/or its Subsidiaries in excess of $5,000,000 for remedial costs, compliance costs, compensatory damages, punitive damages, fines, penalties or any combination thereof.

  • Environmental Event shall have the meaning set forth in Section 12.2.1.

  • Environmental Action means any action, suit, demand, demand letter, claim, notice of non-compliance or violation, notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any Environmental Law, any Environmental Permit or Hazardous Material or arising from alleged injury or threat to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or regulatory authority or third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief.

  • Environmental Harm means serious or material environmental harm or environmental nuisance as defined in the Environmental Protection Xxx 0000 (Qld);

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.

  • Environmental Activity means any use, storage, holding, existence, Release, emission, discharge, generation, processing, abatement, removal, disposition, handling or transportation of any Hazardous Substance.

  • Stated Threshold means total losses under the shared loss agreements in the amount of $4 Billion ($4,000,000,000.00).

  • emission limit value means the mass, expressed in terms of certain specific parameters, concentration and/or level of an emission, which may not be exceeded during one or more periods of time;

  • Environmental CapEx Debt means Indebtedness of the Company or any of its Subsidiaries incurred for the purpose of financing capital expenditures to the extent deemed reasonably necessary, as determined by the Company or any of its Subsidiaries, as applicable, in good faith and pursuant to prudent judgment, to comply with applicable Environmental Laws.

  • Environmental Loss means any loss, cost, damage, liability, deficiency, fine, penalty or expense (including, without limitation, reasonable attorneys' fees, engineering and other professional or expert fees), investigation, removal, cleanup and remedial costs (voluntarily or involuntarily incurred) and damages to, loss of the use of or decrease in value of the Equipment arising out of or related to any Adverse Environmental Condition.

  • Environmental Violation means, with respect to the Property, any activity, occurrence or condition that violates or results in non-compliance with any Environmental Law.

  • Environmental Compliance means actions performed during or after Operations to comply with the requirements of all Environmental Laws or contractual commitments related to reclamation of the Properties or other compliance with Environmental Laws.

  • Environmental Requirements means any legal requirement relating to health, safety or the environment and applicable to the Borrower, any Subsidiary or the Properties, including but not limited to any such requirement under CERCLA or similar state legislation and all federal, state and local laws, ordinances, regulations, orders, writs, decrees and common law.

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows:

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

  • Hazardous Materials Contamination means contamination (whether now existing or hereafter occurring) of the improvements, buildings, facilities, personalty, soil, groundwater, air or other elements on or of the relevant property by Hazardous Materials, or any derivatives thereof, or on or of any other property as a result of Hazardous Materials, or any derivatives thereof, generated on, emanating from or disposed of in connection with the relevant property.