Environmental Defect. An Asset shall be deemed to have an “Environmental Defect” if Buyer discovers that such Asset is subject to a condition constituting a violation of Environmental Laws.
Appears in 3 contracts
Sources: Purchase and Sale Agreement (Cubic Energy Inc), Purchase and Sale Agreement (Gastar Exploration USA, Inc.), Purchase and Sale Agreement (Cubic Energy Inc)
Environmental Defect. An Asset shall be deemed to have an “Environmental Defect” if Buyer B▇▇▇▇ discovers that such Asset is subject to a condition constituting a present violation of Environmental Laws. It is expressly provided that any impact on the Assets caused by NORM shall not constitute an Environmental Defect.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Ustx, LLC), Purchase and Sale Agreement (Boaz Energy II, LLC)
Environmental Defect. An Asset shall be deemed to have an “Environmental Defect” if Buyer ▇▇▇▇▇ discovers that such Asset is subject to a condition constituting a violation of Environmental Laws.
Appears in 1 contract
Sources: Purchase and Sale Agreement