Closure of Slag Pile Sample Clauses

Closure of Slag Pile. (a) The Parties have agreed that the existing slag pile at the Smelter shall be closed as soon as is reasonably practicable following the Closing, taking into consideration the necessity for the Buyer to identify a site, obtain required Permits and prepare the site for the new slag pile. Buyer will make best efforts to make all required arrangements for the new slag pile not later than 12 months following the Closing and will bear any and all costs in connection with the establishment of the new slag pile. Upon completion of such arrangements, the Buyer shall notify Seller that the existing slag pile may be closed, following which the Seller shall cause the slag pile to be closed and capped in accordance with applicable Environmental Law and Section 16.07(c) of this Agreement, with work on such closure and capping to commence not later than six months following Buyer's notice. Buyer agrees to continue to maintain the slag pile at its expense in accordance with applicable Environmental Law until such time as Seller commences closure and capping of same, following which Seller will assume responsibility for maintenance of the slag pile. Seller shall bear all costs associated with the closure and capping of the existing slag pile, provided that Buyer shall bear a proportion of such costs which is equal to the proportionate amount of slag added to the slag pile by the Buyer. (b) In the event that during the 12 month period referred to in Section 13.10(a), Buyer in its sole discretion elects not to open a new slag pile, Buyer shall provide Seller a written notice of such election. Following receipt of such notice, Seller shall have no further obligations pursuant to Section 13.10(a).
Sample 1
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