Environmental Report. (a) Buyer may cause to be prepared and delivered at its expense within 60 days after the date of this Agreement, a Phase I environmental report for the Real Property. Seller shall cooperate with Buyer and permit access to such Real Property during normal business hours in order for Buyer or its representatives to inspect such property and the related environmental records in the possession of Seller, as necessary for the preparation of the Phase I environmental report. Buyer shall deliver to Seller a copy of any such environmental report within five Business Days of receipt of such report by Buyer. If such environmental report discloses one or more adverse environmental conditions which require remediation under applicable Environmental Law, Seller shall assume full responsibility for remediation of each such environmental condition(s) to the extent required by applicable Environmental Law (the "Remediation") and shall bear all expenses incurred in connection therewith; provided, that Seller shall not be obligated to spend more than $200,000 in connection with the Remediation. Buyer shall give Seller notice confirming that Buyer has delivered to Seller all environmental reports to be prepared pursuant to this Section 7.5, and Seller shall notify Buyer within twenty Business Days after its receipt of such notice if Seller concludes, in its reasonable judgment, that it is or will be unable to complete the Remediation for $200,000 or less (the "Remediation Notice"). If Seller gives a Remediation Notice, then Buyer may terminate this Agreement pursuant to Section 10.1 (c)(vii) by notice to Seller given within five Business Days of the Remediation Notice; provided, that if within five Business Days after receipt by Seller of Buyer's notice of termination pursuant to Section 10. l(c)(vii), Seller gives notice to Buyer that Seller agrees to bear all costs of Remediation in excess of $200,000, such termination shall be void ab initio and this Agreement shall be deemed not to have been terminated. If Buyer does not terminate this Agreement pursuant to Section 10.1 (c)(vii) within such five Business Day period, (i) Buyer shall be deemed to have assumed all liabilities and obligations in connection with the Remediation as of the Closing Date, (ii) Buyer shall receive a credit at the Closing in the amount of $200,000 less the aggregate of all amounts paid by Seller to third parties in connection with the Remediation and (iii) after the Closing Date Seller shall have n...
Environmental Report. Lender shall have received an Environmental Report (not more than six months old) with respect to the Property that discloses no material environmental contingencies with respect to the Property.
Environmental Report. Buyer shall have received an environmental site assessment report with respect to Seller's Facilities, which report shall be acceptable in form and substance to Buyer in its sole discretion.
Environmental Report. An environmental site assessment report or reports of one or more qualified environmental engineering or similar inspection firms approved by Agent, which report or reports shall indicate the condition of the Land and any existing improvements thereon in all respects satisfactory to Agent in its sole discretion, and upon which report or reports Agent and Lenders are expressly entitled to rely.
Environmental Report. If requested by Lender, Borrower shall have furnished to Lender, at Borrower's expense, an environmental report and certificate on the Property in form and substance satisfactory to Lender, prepared by an engineer or other expert satisfactory to Lender stating that the Property complies with all applicable provisions and requirements of the "Hazardous Substances" paragraph set forth in this Agreement.
Environmental Report. The Administrative Agent shall have received access to copies of the most recent environmental risk assessment reports in the possession of the Borrower or its Subsidiaries or performed at the request of the Borrower or its Subsidiaries for any current and former facilities of the Borrower or its Subsidiaries;
Environmental Report. Tenant shall, at its sole cost and expense, provide Landlord with an Environmental Report (as hereinafter defined), prepared by an environmental consultant reasonably acceptable to Landlord and dated within sixty (60) days of the expiration or sooner termination of this Agreement concluding, subject to customary limitations and standards, that Tenant shall have complied with all of its obligations under Section 4.3 of this Agreement to date and that the Leased Property does not contain any Hazardous Substances, other than in compliance with Applicable Laws, and which, at Landlord’s request, Tenant shall remove from the Leased Property on or before the expiration or sooner termination hereof. An “Environmental Report” shall be a so-called “Phase I” report or such other level of investigation which shall be the standard of diligence in the purchase or lease of similar property at the time, together with any additional investigation and report which would be needed to make the conclusions required above or which would customarily follow any discovery contained in any initial report(s), and for which the investigation and testing on which the conclusions shall have been based shall have been performed not earlier than thirty (30) days prior to the date of such report.
Environmental Report. The Environmental Reports.
Environmental Report. The Owner Participanx, xxx Manager, the Indenture Trustee and the Pass Through Trustees shall have received copies of the Environmental Reports which shall be in form and substance satisfactory to such parties. The Facility Lessee shall cause the Environmental Consultant to deliver at the same time a reliance letter addressed to the Owner Lessor, the Manager and the Owner Participant allowing them to rely on such reports as if addressed to each of them.
Environmental Report. If any written report containing results of any Phase I Environmental Assessment (“Environmental Report”) shall: (A) reveal that the environmental condition of the Company-Owned Site has materially declined in comparison to the Baseline Assessment; or (B) Seller has materially violated any warranty, representation, or covenant of this Attachment X (Company-Owned Site); or (C) recommend the repair, closure, remediation, removal or other clean‑up (collectively, the “Clean‑up”) of any Hazardous Substances found on or about the Company-Owned Site, and if Company determines that Seller is responsible for such Clean‑up, then:
(A) Company shall provide Seller with a copy of such Environmental Report and with a written explanation of the reasons why Company believes that Xxxxxx is responsible under the principles of this section for conducting the Clean‑up identified in such Environmental Report.
(B) If, within 30 Days after receiving a copy of such Environmental Report and such written statement, Seller fails either (1) to complete the Clean‑up, or (2) with respect to any Clean‑up which cannot be completed within such 30-Day period, fails to proceed with reasonable diligence to complete such Clean‑up as promptly as practicable, then Company shall have the right, but not the obligation, to carry out any Clean‑up recommended by the Environmental Report or required by any Governmental Authority, and to recover all of the costs and expenses of such Clean‑up from Seller from the date Company incurred such costs and expenses until paid in full.
