Common use of Environmental Risks Clause in Contracts

Environmental Risks. If there are any facts or condi- tions identified in a Phase I assessment that Old Kent believes could pose a current or future risk of a material liability, interference with use, or diminution of value of the property, then Old Kent shall identify that risk to CFSB, identify the facts or conditions underly- ing that risk, and provide CFSB with a copy of the Phase I assessment for that property (an "ENVIRONMENTAL RISK").

Environmental Risks. If there are any facts or condi- tions conditions identified in a Phase I assessment that Old Kent reasonably believes could pose a current or future risk of a material liability, interference with use, or diminution of value of the propertyproperty that could be material, then Old Kent shall identify that risk to CFSBGrand Premier, identify the facts or conditions underly- ing underlying that risk, and provide CFSB Grand Premier with a copy of the Phase I assessment for that property (an "ENVIRONMENTAL RISKEnvironmental Risk").