Buyer's Environmental Investigation. Seller’s Environmental Reports
Buyer's Environmental Investigation. Subject to the provisions of Section 6.2, Buyer, at its option, may conduct, at Buyer's sole cost and expense, any "Phase “I" (as such term is commonly used in the industry) environmental testing of the Properties. Notwithstanding anything in this Agreement to the contrary, any Seller shall have the right to disapprove any and all entries, surveys, tests (including, without limitation, a Phase II environmental study of the Properties), investigations and other matters that in such Seller's reasonable judgment could result in any injury to a Property or breach of any contract, or expose any Seller to any Losses or violation of applicable law, or otherwise adversely affect such Property or such Seller's interest therein, and Buyer shall obtain such Seller's prior written consent (which may be obtained and received by electronic transmission) to any such entries, surveys, tests, investigations or other matters that are invasive on such Property.
Buyer's Environmental Investigation. Buyer, at its option, may conduct, at Buyer’s cost, such independent investigation and inspection of the Property as Buyer shall deem reasonably necessary to ascertain the “environmental” condition of the Property. If this transaction is not consummated for any reason, Buyer agrees to promptly repair any damage to the Property directly or indirectly caused by any acts of Buyer or Buyer’s agents in connection with Buyer’s environmental investigation. Anything to the contrary herein notwithstanding, Buyer shall have no responsibility or liability with respect to the results or any inaccuracies in any of Buyer’s Environmental Report(s), and makes no representations or warranties whatsoever regarding (i) the completeness of Buyer’s Environmental Report(s), (ii) the truth or accuracy of Buyer’s Environmental Report(s), or (iii) the existence or nonexistence of any hazardous or toxic wastes or materials in, on, or about the Property. Further, Buyer is not assigning Buyer’s Environmental Report(s) to Sellers, nor granting Sellers any rights with respect to any environmental firm(s) producing Buyer’s Environmental Report(s). Buyer will deliver copies of all such reports to Sellers without cost to Sellers.
Buyer's Environmental Investigation. Subject to the provisions of Section 6.2, during the Inspection Period, Buyer, at its option, may conduct, at Buyer’s sole cost and expense, any “Phase “I” (as such term is commonly used in the industry) environmental testing of the Property. Any “Phase II” (as such term is commonly used in the industry), or other invasive testing shall require the prior written consent of Seller, which consent may be granted or withheld in Seller’s sole and absolute discretion. Buyer agrees not to disturb any asbestos which may be located on the Property. Buyer shall, within five (5) business days of Buyer’s receipt, deliver to Seller any reports or other results of Buyer’s environmental investigation of the Property (collectively, “Buyer’s Environmental Report(s)”).
Buyer's Environmental Investigation. Buyer, at its option, may ------------------------------------ conduct, at Buyer's cost, such independent investigation and inspection of the Property as Buyer shall deem reasonably necessary to ascertain the environmental condition of the Property. Buyer shall immediately deliver to Seller any reports or other results of Buyer's environmental investigation of the Property ("Buyer's Environmental Report(s)"). Seller shall permit Buyer to undertake testing on the Property to assess its environmental condition provided that, prior to undertaking any such testing, Buyer and Seller shall enter into an agreement which sets forth Buyer's and Seller's rights and obligations with respect to such testing, in a form as set forth in Exhibit K attached hereto and incorporated herein to be completed with specifics of such testing as deemed reasonably acceptable to Seller. Buyer agrees not to disturb any asbestos which may be on the Property, and if this transaction is not consummated for any reason, to immediately repair any damage to the Property directly or indirectly caused by any acts of Buyer or Buyer's agents in connection with Buyer's Environmental Report(s). BUYER HAS BEEN EXPRESSLY ADVISED BY SELLER TO CONDUCT AN INDEPENDENT INVESTIGATION AND INSPECTION OF THE PROPERTY (subject to the provisions hereof), UTILIZING EXPERTS AS BUYER DEEMS NECESSARY. This Section shall survive Closing or termination of this Agreement.
Buyer's Environmental Investigation. Subject to the provisions of the Section hereof entitled “Entry onto Property,” during the Inspection Period, Buyer, at its option, may conduct, at Buyer’s sole cost and expense, any “Phase “I” (as such term is commonly used in the industry) environmental testing of the Property which shall comply with “all appropriate inquiry” guidelines; provided, however, under no circumstances shall such “Phase I” include invasive testing of the Property without the prior written consent of Seller, which consent may be granted or withheld in Seller’s sole and absolute discretion. Any “Phase II” (as such term is commonly used in the industry), or other invasive testing shall require the prior written consent of Seller, which consent may be granted or withheld in Seller’s sole and absolute discretion. Buyer agrees not to disturb any asbestos which may be located on the Property. Buyer shall, within five (5) business days of Buyer’s receipt, deliver to Seller a copy of any reports or other results of Buyer’s environmental investigation of the Property (collectively, “Buyer’s Environmental Report(s)”). Failure of Buyer to timely deposit Buyer’s Environmental Reports with Seller shall constitute a material default by Buyer hereunder.
Buyer's Environmental Investigation. (a) From the date hereof until June 30, 2000, Buyer shall have the right, at Buyer's sole risk, expense and liability, to make an environmental assessment of the Interests and Related Assets ("Buyer's Environmental Investigation"). Subject to the consent and cooperation of third parties, Seller shall cooperate with reasonable requests by Buyer and its agents to conduct Buyer's Environmental Investigation. Except to the extent otherwise required by law, Buyer shall exercise all due diligence in safeguarding and maintaining as confidential all data or information acquired during Buyer's Environmental Investigation. Buyer shall provide Seller with a copy of any report or reports of the results of Buyer's Environmental Investigation and shall disclose to Seller the discovery of any Environmental Liabilities. Buyer waives and releases, and agrees to defend, indemnify and save and hold harmless Seller, its directors, officers, employees and agents, against claims for injury to or death of persons or damage to property arising in any way from Buyer's Environmental Investigation.
(b) The term "Environmental Liabilities," as used herein, shall mean any liabilities, claims, expenses, penalties, fines or other obligations, including reasonable fees of attorneys, consultants, engineers, accountants and other advisers, for environmental conditions, situations, circumstances, events or incidents on, at or concerning, originating at or relating to the Interests prior to the Effective Time arising directly or indirectly under Environmental Laws (as they exist and are in effect as of the Effective Time) from (i) the use, transportation, handling, storage, treatment, disposal, emission, discharge, spill, leak, injection, escape, dumping, release or threatened release in any work place or to the air, land, surface waters, groundwaters or other medium -- on or off site -- of any Hazardous Substances, or (ii) the related investigation, study, correction, cleanup, removal, remediation, or monitoring with respect thereto. Environmental Liabilities may arise from, among other things, common law actions. The term "Hazardous Substances," as used herein, shall mean any hazardous substance, hazardous material, hazardous waste, toxic substance, pollutant, contaminant, hazardous constituent, petroleum (including without limitation crude oil or any fraction thereof), or solid waste, or any variation thereof, as defined in (i) the Comprehensive Environmental Response, Compensation and Li...
Buyer's Environmental Investigation. Subject to the provisions of the Section hereof entitled "Entry Onto Property", during the Inspection Period, Buyer, at its option, may conduct, at Buyer's cost, such independent investigation and inspection of the Property as Buyer shall deem necessary to ascertain the environmental condition of the Property. Buyer agrees that it will not undertake, without Seller's prior written consent, which shall not be unreasonably withheld, any "phase II investigation" or any invasive drilling, or any test, sampling or other action that will materially damage the physical condition or appearance of any portion of the Property, and Buyer agrees not to disturb any asbestos which may be on the Property. Any report on the environmental condition of the Property delivered to Buyer by Buyer's environmental consultant is hereinafter referred to as "Buyer's Environmental Report". Buyer shall immediately deliver to Seller a copy of any Buyer's Environmental Report. BUYER HAS BEEN EXPRESSLY ADVISED BY SELLER TO CONDUCT AN INDEPENDENT INVESTIGATION AND INSPECTION OF THE PROPERTY (subject to the provisions hereof), UTILIZING EXPERTS AS BUYER DEEMS NECESSARY.
Buyer's Environmental Investigation. Any “Phase II” (as such term is commonly used in the industry), or other invasive testing that Buyer requests shall require the prior written consent of Seller, which consent may be granted or withheld in Seller’s sole and absolute discretion. Buyer agrees not to disturb any asbestos which may be located on the Property. “Phase II” or other invasive testing that Buyer’s lender reasonably requests in connection with a loan to Buyer for the acquisition of the Property (the “Buyer’s Lender”) and which will not cause damage to any buildings or structures located on the Property and will not interfere with any ongoing operations at the Property are hereby permitted; provided that prior to the testing the environmental consultant to the Buyer’s Lender shall provide Seller with all information reasonably requested by Seller regarding the scope of work and the environmental consultant’s reasons for requiring the testing. Buyer hereby confirms that regardless of the results of said Phase II testing, Buyer shall have no rights to terminate this Agreement based upon the results of said Phase II testing. Buyer shall promptly repair any damage to the Property directly caused by any acts of Buyer’s Lender or its representatives and/or agents and restore the Property to the condition that existed prior to the entry thereon by Buyer’s Lender or its representatives and/or agents. Buyer shall, within five (5) business days of Buyer’s receipt, deliver to Seller any reports or other results of Buyer’s environmental investigation of the Property, including the results of any testing performed by Buyer’s Lender (collectively, “Buyer’s Environmental Report(s)”). Failure of Buyer to timely deposit Buyer’s Environmental Reports with Seller shall constitute a material default by Buyer hereunder.
Buyer's Environmental Investigation. Prior to the Closing Buyer agrees to conduct, or cause to be conducted, at Buyer's sole cost and expense, an environmental assessment of the Assets ("Buyer's Environmental Investigation"). Subject to the consent and cooperation of the parties, Seller agrees to cooperate with reasonable requests by Buyer and its authorized representatives to conduct Buyer's Environmental Investigation. Buyer and its authorized representatives have the right to enter upon the Assets, inspect the same, conduct soil and water tests and borings, and conduct such other tests, examinations, investigations, and studies as may be necessary or appropriate in Buyer's reasonable judgment for the preparation of appropriate engineering and other reports relating to the Assets and their environmental condition. Except to the extent otherwise required by law, Buyer shall exercise all due diligence in safeguarding and maintaining as confidential all Records or information acquired during Buyer's Environmental Investigation, and all such Records and information shall be subject to the confidentiality provisions of this Agreement. Buyer shall disclose to Seller the discovery of any potential Environmental Conditions, Hazardous Materials, Hazardous Substances or suspected violations of Environmental Laws revealed through Buyer's Environmental Investigation.
