Common use of Completion of Recycling and Remediation Clause in Contracts

Completion of Recycling and Remediation. The Buyer shall within 30 days after removal of the last structural piece of the vessel from the slip, complete remediation, removal and disposal of all hazardous materials from the vessel. The Buyer may retain recyclable ferrous and non-ferrous metals and equipment indefinitely after the 30 day period and may dispose of these recyclable materials at the Buyer’s convenience. Stockpiled material from MARAD, other vessels and or recyclable materials that have been tested and found to contain PCBs in concentration greater than 50 ppm shall be segregated from clean recyclables and shall be disposed in accordance with all applicable statutes and regulations within 30 days after the last structural piece of the vessel is removed from the slip. Buyer shall report on the disposal or utilization of the resultant scrap, the engines, machinery and equipment in a Final Close-Out Report containing the detail required in Appendix D.