Common use of Buyer’s Environmental Assessment Clause in Contracts

Buyer’s Environmental Assessment. Beginning on the date of this Agreement and ending at the Defect Notice Time, Buyer shall have the right, at its sole cost, risk, and expense, to conduct an environmental assessment of the Assets. During Seller’s regular hours of business and after providing Seller and the Company with written notice of any such activities no less than one Business Day in advance (which written notice shall include the identity of the operator (if other than the Company) and any other third party whose permission is legally required, which permission Seller or the Company shall use commercially reasonable efforts to promptly obtain, it being understood that access will not be provided unless and until such permission is obtained), Buyer and its representatives shall be permitted to enter upon the Assets, inspect the same, review all of the Company’s files and records (other than those for which the Company has an attorney-client privilege) relating to the Assets, and generally conduct visual, non-invasive tests, examinations, and investigations. No sampling or other invasive inspections of the Assets may be conducted without Seller’s prior written consent, which shall not be unreasonably withheld. Seller will have the right to (a) observe such investigation, (b) promptly receive a copy of any final environmental report received by Buyer with respect to the Assets and (c) at Seller’s request, promptly receive a copy of any other reports, summaries and other information created or delivered in conjunction with Buyer’s environmental assessment and any supporting documents, in each case, in the possession of Buyer relating to Properties with respect to which an Environmental Defect Notice has been delivered. All information obtained or reviewed by Buyer shall be maintained as confidential by Buyer through the Closing, unless disclosure is required by any Governmental Authority or pursuant to Law.

Appears in 5 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement

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Buyer’s Environmental Assessment. Beginning on the date of this Agreement and ending at the Defect Notice Time, Buyer shall have the right, at its sole cost, risk, and expense, to conduct an environmental assessment of the Assets. During Seller’s regular hours of business and after providing Seller and the Company with written notice of any such activities no less than one Business Day in advance (which written notice shall include the identity of the operator (if other than the Company) and any other third party whose permission is legally required, which permission Seller or the Company shall use commercially reasonable efforts to promptly obtain, it being understood that access will not be provided unless and until such permission is obtained), Buyer and its representatives shall be permitted to enter upon the Assets, inspect the same, review all of the Company’s files and records (other than those for which the Company has an attorney-client privilege) relating to the Assets, and generally conduct visual, non-invasive tests, examinations, and investigations. No sampling or other invasive inspections of the Assets may be conducted without Seller’s prior written consent, which shall not be unreasonably withheld. Seller will have the right to (a) observe such investigation, (b) promptly receive a copy of any final environmental report received by Buyer with respect to the Assets and (c) at Seller’s request, promptly receive a copy of any other reports, summaries and other information created or delivered in conjunction with BuyerXxxxx’s environmental assessment and any supporting documents, in each case, in the possession of Buyer relating to Properties with respect to which an Environmental Defect Notice has been delivered. All information obtained or reviewed by Buyer shall be maintained as confidential by Buyer through the Closing, unless disclosure is required by any Governmental Authority or pursuant to Law.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement

Buyer’s Environmental Assessment. Beginning on the date of this Agreement and ending at the Defect Notice Time, Buyer shall have the right, at its sole cost, risk, and expense, to conduct an environmental assessment of the Assets. During Seller’s regular hours of business and after providing Seller and the applicable Company Entity with written notice of any such activities no less than one Business Day in advance (which written notice shall include the identity of the operator (if other than the CompanySeller or a Company Entity) and any other third party whose permission is legally required, which permission Seller or the applicable Company Entity shall use commercially reasonable efforts to promptly obtain, it being understood that access will not be provided unless and until such permission is obtained), Buyer and its representatives shall be permitted to enter upon the Assets, inspect the same, review all of Seller’s and the CompanyCompany Entity’s files and records (other than those for which Seller or the Company Entity has an attorney-client privilege) relating to the Assets, and generally conduct visual, non-invasive tests, examinations, and investigations. No sampling or other invasive inspections of the Assets may be conducted without Seller’s prior written consent, which shall not be unreasonably withheld. Seller will have the right to (a) observe such investigation, (b) promptly receive a copy of any final environmental report received by Buyer with respect to the Assets and (c) at Seller’s request, promptly receive a copy of any other reports, summaries and other information created or delivered in conjunction with Buyer’s environmental assessment and any supporting documents, in each case, in the possession of Buyer relating to Properties with respect to which an Environmental Defect Notice has been delivered. All information obtained or reviewed by Buyer shall be maintained as confidential by Buyer through the Closing, unless disclosure is required by any Governmental Authority or pursuant to Law.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Memorial Production Partners LP)

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Buyer’s Environmental Assessment. Beginning on the date of this Agreement and ending at the Defect Notice Time, Buyer shall have the right, at its sole cost, risk, and expense, to conduct an environmental assessment of the Assets. During Seller’s regular hours of business and after providing Seller and the Company with written notice of any such activities no less than one Business Day in advance (which written notice shall include the identity of the operator (if other than Seller or the Company) and any other third party whose permission is legally required, which permission Seller or the Company shall use commercially reasonable efforts to promptly obtain, it being understood that access will not be provided unless and until such permission is obtained), Buyer and its representatives shall be permitted to enter upon the Assets, inspect the same, review all of Seller’s and the Company’s files and records (other than those for which Seller or the Company has an attorney-client privilege) relating to the Assets, and generally conduct visual, non-invasive tests, examinations, and investigations. No sampling or other invasive inspections of the Assets may be conducted without Seller’s prior written consent, which shall not be unreasonably withheld. Seller will have the right to (a) observe such investigation, (b) promptly receive a copy of any final environmental report received by Buyer with respect to the Assets and (c) at Seller’s request, promptly receive a copy of any other reports, summaries and other information created or delivered in conjunction with Buyer’s environmental assessment and any supporting documents, in each case, in the possession of Buyer relating to Properties with respect to which an Environmental Defect Notice has been delivered. All information obtained or reviewed by Buyer shall be maintained as confidential by Buyer through the Closing, unless disclosure is required by any Governmental Authority or pursuant to Law.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Memorial Production Partners LP)

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