Common use of Defects, Environmental Conditions and Related Adjustments Clause in Contracts

Defects, Environmental Conditions and Related Adjustments. From time to time on or before the Closing Date and for one hundred twenty (120) days following the Closing Date, Buyer may give to Seller written notice of any claimed Defect or Environmental Condition discovered by Buyer. Each such notice shall set forth (i) a detailed description of the relevant Defect or Environmental Condition and, as applicable, the Asset affected thereby, (ii) the Defect Amount or Remediation Estimate applicable thereto as determined by Buyer, and (iii) the specific documentation or action that Buyer requests to cure or remedy such Defect or Environmental Condition. In addition, if Seller is aware or becomes aware, between the date of execution of this Agreement and the Closing Date, of any Environmental Condition affecting any Asset, Seller shall provide to Buyer written notice of such fact. Any Environmental Condition thus brought to Buyer’s attention by Seller shall be deemed to have been asserted by Buyer in a timely manner as provided in this Section 4.3(a). Defects and Environmental Conditions discovered by Buyer in its due diligence pertaining to the Assets but not asserted in a timely manner as provided in this Section 4.3(a) shall be deemed to have been waived by Buyer, and shall become Assumed Liabilities for purposes hereof.

Defects, Environmental Conditions and Related Adjustments. (a) From time to time on or before 5:00 p.m., Central Time, on the Closing Date and for one hundred twenty fifteenth (12015th) days following day prior to the Scheduled Closing Date, Buyer may give to Seller and the Company written notice of any claimed Defect or Environmental Condition discovered by BuyerBuyer in its due diligence review of the Assets. Each such notice shall set forth (i) a detailed description of the relevant Defect or Environmental Condition and, as applicable, the Asset affected thereby, (ii) the Defect Amount or Remediation Estimate applicable thereto as determined by Buyer, and (iii) the specific documentation or action that Buyer requests to cure or remedy such Defect or Environmental Condition. In addition, if Seller is aware or becomes awarethe Company acquires Knowledge, between the date of execution of this Agreement and the Closing Date, of any new and material Environmental Condition affecting any Asset, Seller or the Company, as applicable, shall provide to Buyer written notice of such factfact no later than three (3) Business Days after Seller’s or the Company’s discovery of such Environmental Condition. Any Environmental Condition thus brought to Buyer’s attention by Seller or the Company shall be deemed to have been asserted by Buyer in a timely manner as provided in this Section 4.3(a5.3(a). Defects and Environmental Conditions discovered by Buyer in its due diligence pertaining to the Assets but not asserted in a timely manner as provided in this Section 4.3(a5.3(a) shall be deemed to have been waived by Buyer, and shall become Assumed Liabilities for purposes hereof.

Defects, Environmental Conditions and Related Adjustments. From (a) At any time prior to time on or before the Closing Date and for one hundred twenty ninety (12090) days following the Closing Date, Buyer may give to Seller Sellers written notice of any claimed Defect or of any claimed Environmental Condition discovered by Buyer through Buyer's EPA study performed by Halff and Associates or otherwise. Each such notice shall set forth (i) a detailed description of the relevant Defect or Environmental Condition and, as applicable, the Asset affected thereby, (ii) the Defect Amount or Remediation Estimate applicable thereto as determined by Buyer, and (iii) the specific documentation or action that Buyer requests to cure or remedy such Defect or Environmental Condition. In addition, if a Seller is aware or becomes aware, between the date of execution of this Agreement and the Closing Date, of any Environmental Condition affecting any Asset, Seller Sellers shall provide to Buyer written notice of such fact. Any Environmental Condition thus brought to Buyer’s 's attention by a Seller shall be deemed to have been asserted by Buyer in a timely manner as provided in this Section 4.3(a). Defects and Environmental Conditions discovered by Buyer in its due diligence pertaining to the Assets but not asserted in a timely manner as provided in this Section 4.3(a) shall be deemed to have been waived by Buyer, and shall become Assumed Liabilities for purposes hereof.