Common use of Environmental Assessment and Remediation Clause in Contracts

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS or BBC has already obtained on any of the Real Property set forth on BCS's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCS, and BCS shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS to GBB) BCS shall immediately commence such Remediation, all at the sole cost and expense of BCS. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to ---------------------------------------- be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS BAB Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS BAB or BBC BABANK has already obtained on any of the Real Property set forth on BCSBAB's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSBAB, and BCS BAB shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS BAB to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS BAB who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS BAB to GBB) BCS BAB shall immediately commence such Remediation, all at the sole cost and expense of BCSBAB. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS BAB Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS BAB Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS BAB or BBC BABANK has already obtained on any of the Real Property set forth on BCSBAB's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSBAB, and BCS BAB shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS BAB to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS BAB who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS BAB to GBB) BCS BAB shall immediately commence such Remediation, all at the sole cost and expense of BCSBAB. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS BAB Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB CVB may cause to be ---------------------------------------- prepared at GBBCVB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS ONB Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS ONB or BBC Orange has already obtained on any of the Real Property set forth on BCSONB's Real Property List, discloses facts which, in the sole discretion of GBBCVB, warrant further investigation, GBB CVB shall provide written notice to BCSONB, and BCS ONB shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBBCVB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS ONB to conduct such investigation and provide such report shall be reasonably acceptable to GBBCVB. GBB CVB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB CVB shall engage an environmental consultant reasonably satisfactory to BCS ONB who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBBCVB, in its sole discretion, and, unless the estimated cost of such Remediation for which an independent third-party consultant, jointly selected by ONB and CVB, would determine ONB or Orange would be responsible for paying is in excess of $100,000 or is not reasonably determinable by such consultant 250,000 (and written notice thereof provided by BCS ONB to GBBCVB) BCS ONB shall immediately commence such Remediation, all at the sole cost and expense of BCSONB. In the event such environmental consultant determines that the estimated cost of such remediation for which an independent third party consultant, jointly selected by ONB and CVB would determine ONB or Orange would be responsible for paying is in excess of $100,000 or is not reasonably determinable250,000, GBB CVB shall have the right to terminate the Agreement pursuant to Section 13.1.9 hereof before the expiration of 21 days from the date of such written notice. GBB CVB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS ONB Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB CBB may cause to be ---------------------------------------- prepared at GBBCBB's sole cost and expense ------------------------------------------- within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS Kaweah Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS or BBC Kaweah has already obtained on any of the Real Property set forth on BCSKaweah's Real Property List, discloses facts which, in the sole discretion of GBBCBB, warrant further investigation, GBB CBB shall provide written notice to BCSKaweah, and BCS Kaweah shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBBCBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS Kaweah to conduct such investigation and provide such report shall be reasonably acceptable to GBBCBB. GBB CBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB CBB shall engage an environmental consultant reasonably satisfactory to BCS Kaweah who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBBCBB, in its sole discretion, and, unless the estimated cost of such Remediation for which an independent third-party consultant, jointly selected by Kaweah and CBB, would determine Kaweah would be responsible for paying is in excess of $100,000 or is not reasonably determinable by such consultant 250,000 (and written notice thereof provided by BCS Kaweah to GBBCBB) BCS Kaweah shall immediately commence such Remediation, all at the sole cost and expense of BCSKaweah. In the event such environmental consultant determines that the estimated cost of such remediation for which an independent third party consultant, jointly selected by Kaweah and CBB would determine Kaweah would be responsible for paying is in excess of $100,000 or is not reasonably determinable250,000, GBB CBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1.10 hereof before the expiration of 21 days from the date of such written notice. GBB CBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS Kaweah Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS MDB Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS MDB or BBC MDNB has already obtained on any of the Real Property set forth on BCSMDB's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSMDB, and BCS MDB shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS MDB to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS MDB who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS MDB to GBB) BCS MDB shall immediately commence such Remediation, all at the sole cost and expense of BCSMDB. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1(k) hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS MDB Real Property List, except as required by lawlaw notice.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS BOP Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS or BBC BOP has already obtained on any of the Real Property set forth on BCSBOP's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSBOP, and BCS BOP shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS BOP to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS BOP who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS BOP to GBB) BCS BOP shall immediately commence such Remediationremediation, all at the sole cost and expense of BCSBOP. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1(k) hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS BOP Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS Coast Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS Coast or BBC CCB has already obtained on any of the Real Property set forth on BCSCoast's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSCoast, and BCS Coast shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS Coast to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS Coast who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 500,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS Coast to GBB) BCS Coast shall immediately commence such Remediation, all at the sole cost and expense of BCSCoast. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 500,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1(k) hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS Coast Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS PBC Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS or BBC PBC has already obtained on any of the Real Property set forth on BCSPBC's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSPBC, and BCS PBC shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS PBC to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 ten days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS PBC who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS PBC to GBB) BCS PBC shall immediately commence such Remediation, all at the sole cost and expense of BCSPBC. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1(i) hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS PBC Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS BSC Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS or BBC BSC has already obtained on any of the Real Property set forth on BCSBSC's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSBSC, and BCS BSC shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS BSC to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS BSC who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation remediation is in excess of $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS BSC to GBB) BCS BSC shall immediately commence such Remediationremediation, all at the sole cost and expense of BCSBSC. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1(k) hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS BSC Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS SJNB Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS SJNB or BBC the SJNB Subsidiaries has already obtained on any of the Real Property set forth on BCSSJNB's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSSJNB, and BCS SJNB shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS SJNB to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS SJNB who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless reasonable judgment. The parties will consult in good faith with one another regarding the nature and scope of any required remediation. If the estimated cost of such Remediation remediation is in excess of more than $100,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS to GBB) BCS but less than $1,000,000, SJNB shall immediately commence such Remediationremediation, all at the sole cost and expense of BCSSJNB; provided that such remediation shall not be required with respect to any asbestos contamination, lead-containing paint or urea formaldehyde foam insulation which is not required by law to be remediated at such time and the presence of asbestos or such materials which is not so required to be remediated shall not be a failure of condition to GBB's obligations to close hereunder. In the event such either of the environmental consultant consultants determines that the estimated cost of such remediation is in excess of $100,000 or is not reasonably determinable1,000,000, GBB the Conversion Ratio shall have the right to terminate the Agreement pursuant to be determined as set forth in Section 13.1.9 hereof before the expiration of 21 days from the date of such written notice2.2(a)(v). GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS SJNB Real Property List, except as required by law.

Environmental Assessment and Remediation. GBB may cause to be ---------------------------------------- prepared at GBB's sole cost and expense within 45 days of the date of this Agreement one or more phase I environmental investigations with respect to the Real Property set forth on the BCS Coast Real Property List. In the event any such phase I environmental investigation report, or any such report which BCS Coast or BBC CCB has already obtained on any of the Real Property set forth on BCSCoast's Real Property List, discloses facts which, in the sole discretion of GBB, warrant further investigation, GBB shall provide written notice to BCSCoast, and BCS Coast shall be required to cause to be completed within 60 days of such written notice, at the sole cost and expense of GBB, a phase II environmental investigation and report with respect to such property. The consultant engaged by BCS Coast to conduct such investigation and provide such report shall be reasonably acceptable to GBB. GBB shall have 10 days from the receipt of such investigation report to reasonably object thereto, which objection shall be by written notice. In the event of any such objection, GBB shall engage an environmental consultant reasonably satisfactory to BCS Coast who shall provide an estimate of the cost of taking any remedial action recommended or suggested in such phase II environmental investigation report, or which is required by law, or which is determined to be prudent by GBB, in its sole discretion, and, unless the estimated cost of such Remediation is in excess of $100,000 500,000 or is not reasonably determinable by such consultant (and written notice thereof provided by BCS Coast to GBB) BCS Coast shall immediately commence such Remediation, all at the sole cost and expense of BCSCoast. In the event such environmental consultant determines that the estimated cost of such remediation is in excess of $100,000 500,000 or is not reasonably determinable, GBB shall have the right to terminate the Agreement pursuant to Section 13.1.9 13.1(k) hereof before the expiration of 21 days from the date of such written notice. GBB agrees to keep confidential and not to disclose any nonpublic information obtained in the course of such environmental investigation relating to environmental contamination or suspected contamination of any property on the BCS Coast Real Property List, except as required by law.