Common use of Environmental Compliance and Procedures Clause in Contracts

Environmental Compliance and Procedures. Except as otherwise provided in the ASA, the Buyer and Seller shall each be responsible for (a) complying with all Environmental Laws applicable to the Purchased Assets and the Excluded Assets, respectively, (b) obtaining and maintaining in force all applicable and required permits and approvals under such Environmental Laws and regulations applicable to the Purchased Assets and the Excluded Assets, respectively, and (c) making all required reports and notifications applicable to the Purchased Assets and the Excluded Assets, respectively, required by those laws and regulations. Each Party shall notify the other first verbally and then in writing, of any Release of Hazardous Substances (as defined in the ASA) or any type of remediation activities, relating to the Purchased Assets and/or the Excluded Assets, within 24 hours of occurrence, and shall promptly furnish to the other Party copies of any reports filed with any governmental agencies relating to such releases or remediation. Buyer shall not knowingly take any actions which might reasonably be expected to have a material adverse environmental impact upon the operations of the T&D System without prior written notification and agreement from Seller. Seller shall not knowingly take any actions which might reasonably be expected to have a material adverse environmental impact upon the operations of the Purchased Assets without prior written notification and agreement from Buyer. Compliance with Laws