Common use of Environmental Investigation; Rights to Terminate Agreement Clause in Contracts

Environmental Investigation; Rights to Terminate Agreement. (a) STXB and its consultants, agents and representatives shall have the right to the same extent that CBI or CSB has such right (at STXB’s cost and expense), but not the obligation or responsibility, to inspect any CBI or CSB property, including conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to forty-five (45) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigation”) including test borings, soil, water, asbestos or other sampling, is deemed desirable by STXB, STXB shall (i) notify CBI of any property for which it intends to conduct such a Secondary Investigation and the reasons for such Secondary Investigation, (ii) submit a work plan to CBI for such Secondary Investigation, for which STXB agrees to afford CBI the ability to comment on and STXB agrees to reasonably consider all such comments (and negotiate in good faith any such comments), and (iii) conclude such Secondary Investigation on or prior to sixty (60) days after the date of receipt of CBI’s comments. STXB shall give reasonable notice to CBI of such Secondary Investigations, and CBI may place reasonable restrictions on the time and place at which such Secondary Investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Spirit of Texas Bancshares, Inc.)

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Environmental Investigation; Rights to Terminate Agreement. (a) STXB Prosperity and its consultants, agents and representatives shall have the right to the same extent that CBI SNB or CSB the Bank has such right (at STXBProsperity’s cost and expense), but not the obligation or responsibility, to inspect any CBI SNB or CSB Bank property, including including, without limitation, conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to forty-five thirty (4530) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigationsecondary investigation”) including including, without limitation, test borings, soil, water, asbestos or other sampling, is deemed desirable by STXBProsperity, STXB Prosperity shall (i) notify CBI SNB of any property for which it intends to conduct such a Secondary Investigation secondary investigation and the reasons for such Secondary Investigationsecondary investigation, (ii) submit a work plan to CBI SNB for such Secondary Investigationsecondary investigation, for which STXB Prosperity agrees to afford CBI SNB the ability to comment on and STXB Prosperity agrees to reasonably consider all such comments (and negotiate in good faith any such comments), ) and (iii) conclude such Secondary Investigation secondary investigation, on or prior to sixty (60) days after the date of receipt of CBI’s commentsthis Agreement. STXB Prosperity shall give reasonable notice to CBI SNB of such Secondary Investigationssecondary investigations, and CBI SNB may place reasonable restrictions on the time and place at which such Secondary Investigations secondary investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (SNB Bancshares Inc)

Environmental Investigation; Rights to Terminate Agreement. (a) STXB Prosperity and its consultants, agents and representatives shall have the right to the same extent that CBI the Company or CSB the Bank has such right (at STXBProsperity’s cost and expense), but not the obligation or responsibility, to inspect any CBI Company or CSB Bank property, including including, without limitation, conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to forty-five thirty (4530) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigationsecondary investigation”) including including, without limitation, test borings, soil, water, asbestos or other sampling, is deemed desirable by STXBProsperity, STXB Prosperity shall (i) notify CBI the Company of any property for which it intends to conduct such a Secondary Investigation secondary investigation and the reasons for such Secondary Investigationsecondary investigation, (ii) submit a work plan to CBI the Company for such Secondary Investigationsecondary investigation, for which STXB Prosperity agrees to afford CBI the Company the ability to comment on and STXB Prosperity agrees to reasonably consider all such comments (and negotiate in good faith any such comments), ) and (iii) conclude such Secondary Investigation secondary investigation, on or prior to sixty (60) days after the date of receipt of CBI’s commentsthis Agreement. STXB Prosperity shall give reasonable notice to CBI the Company of such Secondary Investigationssecondary investigations, and CBI the Company may place reasonable restrictions on the time and place placed at which such Secondary Investigations secondary investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Prosperity Bancshares Inc)

Environmental Investigation; Rights to Terminate Agreement. (a) STXB Allegiance and its consultants, agents and representatives shall have the right to the same extent that CBI the Company or CSB the Bank has such right (at STXBAllegiance’s cost and expense), but not the obligation or responsibility, to inspect any CBI Company or CSB Bank property, including conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to forty-five (45) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigation”) including test borings, soil, water, asbestos or other sampling, is deemed desirable by STXBAllegiance, STXB Allegiance shall (i) notify CBI the Company of any property for which it intends to conduct such a Secondary Investigation and the reasons for such Secondary Investigation, (ii) submit a work plan to CBI the Company for such Secondary Investigation, for which STXB Allegiance agrees to afford CBI the Company the ability to comment on and STXB Allegiance agrees to reasonably consider all such comments (and negotiate in good faith any such comments), and (iii) conclude such Secondary Investigation Investigation, on or prior to sixty (60) days after the date of receipt of CBIthe Company’s comments. STXB Allegiance shall give reasonable notice to CBI the Company of such Secondary Investigations, and CBI the Company may place reasonable restrictions on the time and place at which such Secondary Investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Allegiance Bancshares, Inc.)

Environmental Investigation; Rights to Terminate Agreement. (a) STXB Prosperity and its consultants, agents and representatives shall have the right to the same extent that CBI or CSB the Bank has such right (at STXB’s Prosperity's cost and expense), but not the obligation or responsibility, to inspect any CBI or CSB Bank property, including including, without limitation, conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses ("Environmental Inspections") at any time on or prior to forty-five thirty (4530) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigation”"secondary investigation") including including, without limitation, test borings, soil, water, asbestos or other sampling, is deemed desirable by STXBProsperity, STXB Prosperity shall (i) notify CBI the Bank of any property for which it intends to conduct such a Secondary Investigation and secondary investigation, the reasons for such Secondary Investigationsecondary investigation and the identity of any persons who will conduct such secondary investigation(s), (ii) submit a written work plan to CBI the Bank for such Secondary Investigationsecondary investigation, for which STXB Prosperity agrees to afford CBI the Bank the ability to comment on and STXB Prosperity agrees to reasonably consider all such comments (and negotiate in good faith any such comments), ) and (iii) conclude such Secondary Investigation secondary investigation, on or prior to sixty (60) days after the date of receipt of CBI’s commentsthis Agreement. STXB Prosperity shall give reasonable notice to CBI the Bank of such Secondary Investigationssecondary investigations, and CBI the Bank may place reasonable restrictions on the time and place at which such Secondary Investigations secondary investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Prosperity Bancshares Inc)

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Environmental Investigation; Rights to Terminate Agreement. (a) STXB Guaranty and its consultants, agents and representatives shall have the right to the same extent that CBI DCB or CSB any of its Subsidiaries has such right (at STXBGuaranty’s cost and expense), but not the obligation or responsibility, to inspect any CBI or CSB propertyDCB Real Property, including including, without limitation, conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to forty-five thirty (4530) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigationsecondary investigation”) including including, without limitation, test borings, soil, water, asbestos or other sampling, is deemed desirable by STXBGuaranty, STXB Guaranty shall (i) notify CBI DCB of any property for which it intends to conduct such a Secondary Investigation secondary investigation and the reasons for such Secondary Investigationsecondary investigation, (ii) submit a work plan to CBI DCB for such Secondary Investigationsecondary investigation, for which STXB Guaranty agrees to afford CBI DCB the ability to comment on and STXB Guaranty agrees to reasonably consider all such comments (and negotiate in good faith any such comments), ; and (iii) conclude such Secondary Investigation secondary investigation, on or prior to sixty (60) days after the date of receipt of CBI’s commentsthis Agreement. STXB Guaranty shall give reasonable notice to CBI DCB of such Secondary Investigationssecondary investigations, and CBI DCB may place reasonable restrictions on the time and place at which such Secondary Investigations secondary investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Guaranty Bancshares Inc /Tx/)

Environmental Investigation; Rights to Terminate Agreement. (a) STXB Prosperity and its consultants, agents and representatives shall have the right to the same extent that CBI the Company or CSB the Bank has such right (at STXBProsperity’s cost and expense), but not the obligation or responsibility, to inspect any CBI Company or CSB Bank property, including including, without limitation, conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to forty-five before thirty (4530) days after the date of this Agreement. If, as a result of any such Environmental Inspection, further investigation (“Secondary Investigationsecondary investigation”) including including, without limitation, test borings, soil, water, asbestos or other sampling, is deemed desirable by STXBProsperity, STXB Prosperity shall (i) notify CBI the Company of any property for which it intends to conduct such a Secondary Investigation secondary investigation and the reasons for such Secondary Investigationsecondary investigation, (ii) submit a work plan to CBI the Company for such Secondary Investigationsecondary investigation, for which STXB Prosperity agrees to afford CBI the Company the ability to comment on and STXB Prosperity agrees to reasonably consider all such comments (and negotiate in good faith any such comments), and (iii) conclude such Secondary Investigation secondary investigation, on or prior to before sixty (60) days after the date of receipt of CBI’s commentsthis Agreement. STXB Prosperity shall give reasonable notice to CBI the Company of such Secondary Investigationssecondary investigations, and CBI the Company may place reasonable restrictions on the time and place at which such Secondary Investigations secondary investigations may be carried out.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Prosperity Bancshares Inc)

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