Common use of Environmental Report Clause in Contracts

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.

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 Z (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.