Phase I Environmental Report definition

Phase I Environmental Report means a report by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has a reasonable amount of experience conducting such assessments.

Phase I Environmental Report means a report prepared for a real estate holding which identifies potential or existing environmental contamination liabilities.

Phase I Environmental Report means the existing phase I environmental assessment report prepared by URS Canada Inc. dated November, 2004.

Examples of Phase I Environmental Report in a sentence

• Environmental Report shall mean a Phase I Environmental Report with respect to the Project Site that is prepared by an environmental firm acceptable to the Payment Rights Purchaser, together with copies of the results or reports with respect to any additional environmental tests, inspections, examinations, and/or studies conducted by or for, or in the possession of, FRC or the City.

• No later than thirty (30) days from the Effective Date, Buyer shall have determined that it is satisfied with the results of and matters disclosed by a Phase I Environmental Report (“Phase I”).

• Developer has been furnished with a Phase I Environmental Report indicating that there is no historical record or physical evidence of hazardous materials, as defined in Article 1 of this Agreement, on the site.

• In connection with this Agreement, the Company (a) obtained a Phase I Environmental Report (the “Phase I”), attached as Exhibit “C”, indicating that “recognized environmental conditions” exist at the Property including the existence of soil contamination described in investigation reports prepared on behalf of the Commission, and (b) will, prior to Closing (as defined below), obtain an updated Phase I on the Property (“Updated Phase I”).

• Buyer shall have approved within in 30 days of the Effective Date, in Buyer’s sole discretion, a Phase I Environmental Report (prepared in accordance with ASTM E 1527-05, or the current ASTM standard for Phase I environmental site assessments) to be prepared with regard to the Real Property by an environmental consultant reasonably acceptable to Buyer (the “Phase I”).

More Definitions of Phase I Environmental Report

Phase I Environmental Report. A report similar in form and substance to a "phase I" report, as described in, and meeting the criteria of, (i) Chapter 5 of the Federal National Mortgage Association 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 Report means a report prepared at the expense of the Person desiring to contribute such property, by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has had not less than five years experience in such matters which indicates whether such property is in compliance with applicable Environmental Laws and whether there are any circumstances present at such property relating to the use, management or disposal of any hazardous substances, hazardous materials, hazardous wastes or petroleum based materials for which investigation, testing, monitoring, containment, clean up or remediation could be required under any Federal, state or local law or regulation.

Phase I Environmental Report means the Phase I Environmental Site Assessment relating to 0000 Xxxxxxxxx Xxxxxx & 000 Xxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx dated May 2016 prepared by Envirovision Inc.

Phase I Environmental Report means a Phase I Environmental Site Assessment Report, in form and substance satisfactory to Lender.

Phase I Environmental Report means that certain Environmental Report dated October ____, 2000 prepared in connection with the Project.

Phase I Environmental Report means the Phase I Environmental Site Assessment, by Environmental Management Inc., dated [June 3], 2020.

Phase I Environmental Report means, collectively, the environmental reports attached to this Agreement as Exhibit 2;