Environmental Defect Notices Clause Samples
The Environmental Defect Notices clause establishes a process for identifying and formally notifying parties of environmental issues or non-compliance discovered in relation to a property or project. Typically, this clause outlines the procedures for issuing a notice, the timeframe within which defects must be reported, and the responsibilities of each party to address or remediate the identified issues. By providing a clear mechanism for reporting and resolving environmental defects, this clause helps ensure compliance with environmental regulations and allocates responsibility for remediation, thereby reducing the risk of disputes and potential liabilities.
Environmental Defect Notices. If Buyer discovers any Environmental Condition which, in its reasonable opinion, Buyer determines constitutes an Environmental Defect, Buyer shall promptly notify Seller within 3 Business Days of such discovery and, in any event, on or before 5:00 p.m. (Central Time) on April 22, 2011 (the “Environmental Claim Date”). To be effective, notice of an Environmental Defect (an “Environmental Defect Notice”) shall be in writing and shall include (i) a description of the Environmental Condition constituting the asserted Environmental Defect(s), including the GPS coordinates of such Environmental Condition (when available), (ii) the Asset(s) (or portions thereof) affected by the asserted Environmental Defect (each, an “Environmental Defect Property”), (iii) documentation, including any physical measurements or, to the extent permitted by Seller under Section 10.1, lab analyses or photographs, sufficient for Seller to verify the existence of the asserted Environmental Defect(s), (iv) the Allocated Value of each Environmental Defect Property, (v) the Remediation Amount (itemized in reasonable detail) that Buyer asserts is attributable to such Environmental Defect and the computations and information upon which Buyer’s belief is based, and (vi) the specific Environmental Law that is applicable to the Environmental Defect and the violation of such Environmental Law, if any. Buyer’s calculation of the Remediation Amount included in the Environmental Defect Notice must describe in reasonable detail the Remediation proposed for the Environmental Condition that gives rise to the asserted Environmental Defect and identify all assumptions used by the Buyer in calculating the Remediation Amount, including the standards that Buyer asserts must be met to comply with Environmental Laws. For all purposes of this Agreement but subject to Buyer’s remedy for a breach of Seller’s representation contained in Section 4.14 or the corresponding representation contained in the certificate delivered at the Closing by Seller pursuant to Section 9.3(j), Buyer shall be deemed to have waived, and Seller shall have no liability for, any Environmental Defect which Buyer fails to assert as an Environmental Defect by a Environmental Defect Notice received by Seller on or before the Environmental Claim Date. Seller shall have the right, but not the obligation, to cure any asserted Environmental Defect on or before Closing.
Environmental Defect Notices. (a) Purchaser shall give Seller written notice of any Environmental Defect (whether or not Purchaser intends to assert such Environmental Defect in its Notice of Environmental Defects) promptly (but in any event prior to the Defect Notice Deadline).
(b) On or before the Defect Notice Deadline, Purchaser shall deliver to Seller a written notice (a “Notice of Environmental Defects”) that sets forth all Environmental Defects affecting the Acquired Assets that Purchaser desires to assert under this Agreement. The Notice of Environmental Defects shall, with respect to each Environmental Defect set forth therein: (i) describe the nature of and basis for such Environmental Defect; (ii) describe the specific Assets affected by such Environmental Defect; (iii) references to the Environmental Law(s) that Seller or the Acquired Assets are in violation of or non-compliance with that forms the basis of such Environmental Defect; (iv) describe the Remediation or other curative action that Purchaser reasonably anticipates is required to Remediate or otherwise cure such Environmental Defect; (v) describe Purchaser’s good-faith estimate of the Environmental Defect Value with respect to each Acquired Asset affected by such Environmental Defect; and (vi) include all documentation supporting the nature and basis of such Environmental Defect and the estimate of its Environmental Defect Value.
Environmental Defect Notices. (a) Purchaser shall give Seller written notice of any Environmental Defect (whether or not Purchaser intends to assert such Environmental Defect in its Notice of Environmental Defects) promptly (but in any event prior to the Defect Notice Deadline).
Environmental Defect Notices. (a) As a condition to asserting any claim with respect to any alleged Environmental Defect, Purchaser must deliver to Seller a valid written Notice of Environmental Defect as to any alleged Environmental Defect no later than (i) the Defect Notice Deadline, with respect to First Closing Assets, and (ii) the Second Defect Notice Deadline, with respect to Second Closing Assets; provided that Purchaser agrees to provide Seller with periodic (but in no event less frequently than once every week) updates in writing concerning the progress of Purchaser’s environmental due diligence.
(b) On or before the Defect Notice Deadline or Second Defect Notice Deadline, as applicable, for any alleged Environmental Defect, Purchaser shall deliver to Seller a valid written notice (a “Notice of Environmental Defects”) that sets forth all Environmental Defects affecting the Acquired Assets that Purchaser desires to assert under this Agreement. In order to be valid, the Notice of Environmental Defects shall, with respect to each Environmental Defect set forth therein: (i) describe the nature of and basis for such Environmental Defect; (ii) describe the specific Assets affected by such Environmental Defect; (iii) contain references to the specific provisions and sections of Environmental Laws that Seller or the Acquired Assets are in violation of or non-compliance with that forms the basis of such Environmental Defect; (iv) describe the Remediation or other curative action that Purchaser reasonably anticipates is required to Remediate or otherwise cure such Environmental Defect; (v) describe Purchaser’s good-faith estimate of the Environmental Defect Value with respect to each Acquired Asset affected by such Environmental Defect; and (vi) include all documentation supporting the nature and basis of such Environmental Defect and the estimate of its Environmental Defect Value.
Environmental Defect Notices. If ▇▇▇▇▇ discovers any Environmental Condition which, in its reasonable opinion, it believes constitutes an Environmental Defect, Buyer shall promptly notify Seller within 3 Business Days of such discovery and, in any event, by March 29, 2013 (the “Environmental Claim Date”). To be effective, notice of an Environmental Defect (an “Environmental Defect Notice”) shall be in writing and shall include (i) a description of the Environmental Condition constituting the alleged Environmental Defect(s), including the GPS coordinates of such Environmental Condition (when available),