Common use of Environmental Site Assessments Clause in Contracts

Environmental Site Assessments. Prior to the execution of this ------------------------------ Agreement, ATS has, at its sole cost and expense, delivered or caused to be delivered to Meridian a Phase I environmental assessment report dated as of a recent date issued by Aquaterra Environmental Services Corp.(the "Environmental Company") with respect to those Meridian Assets comprised of the parcels of real property described in Section 5.8 of the Meridian Disclosure Schedule (the "Environmental Real Property"). Such reports, as same may be amended or supplemented from time to time to reflect additional environmental matters, are referred to herein as the "Environmental Reports". Section 5.8 of the Meridian Disclosure Schedule sets forth a description of those matters, if any, shown in the Environmental Reports as to which ATS has objected and which Meridian has agreed to remedy prior to or, with the written approval of ATS, subsequent to the Closing Date (the "Disapproved Environmental Matters" which term shall include any matters added thereto pursuant to the provisions of the last sentence of this Section). All matters disclosed by the Environmental Reports (as of the date hereof) which are not reflected on Section 5.8 of the Meridian Disclosure Schedule have heretofore been approved by ATS. If, at any time following the date hereof, Meridian or the Environmental Company notifies ATS of any additional matter affecting the environmental status of the Environmental Real Property, the parties shall negotiate in good faith in an effort to resolve such matters and, in the event that are not able to reach such agreement within thirty (30) days of the date ATS has received written notification thereof, either party may terminate this Agreement with the effect set forth in Section 7.2.

Environmental Site Assessments. Prior to the execution of this ------------------------------ Agreement, ATS has, at its sole cost and expense, delivered or caused to be delivered to Meridian a Phase I environmental assessment report dated as of a recent date issued by Aquaterra Environmental Services Corp.(the "Environmental Company") with respect to those Meridian Assets comprised of the parcels of real property described in Section 5.8 of the Meridian Disclosure Schedule (the "Environmental Real Property"). Such reports, as same may be amended or supplemented from time to time to reflect additional environmental matters, are referred to herein as the "Environmental Reports". Section 5.8 of the Meridian Disclosure Schedule sets forth a description of those matters, if any, shown in the Environmental Reports as to which ATS has objected and which Meridian has agreed to remedy prior to or, with the written approval of ATS, subsequent to the Closing Date (the "Disapproved Environmental Matters" which term shall include any matters added thereto pursuant to the provisions of the last sentence of this Section). All matters disclosed by the Environmental Reports (as of the date hereof) which are not reflected on Section 5.8 of the Meridian Disclosure Schedule have heretofore been approved by ATS. If, at any time following the date hereof, Meridian or the Environmental Company notifies ATS of any additional matter affecting the environmental status of the Environmental Real Property, the parties shall negotiate in good faith in an effort to resolve such matters and, in the event that are not able to reach such agreement within thirty (30) days of the date ATS has received written notification thereof, either party may terminate this Agreement with the effect set forth in Section 7.2.

Environmental Site Assessments. Prior to the execution of this ------------------------------ Agreement, ATS has, at its it sole cost and expense, delivered or caused to be delivered to Meridian a Phase I environmental assessment report dated as of a recent date issued by Aquaterra Environmental Services Corp.(the Corp. (the "Environmental CompanyCompany ") with respect to those Meridian Assets comprised of the parcels of real property described in Section 5.8 of the Meridian Disclosure Schedule (the "Environmental Real Property"). Such reports, as same may be amended or supplemented from time to time to reflect additional environmental matters, are referred to herein as the "Environmental Reports". Section 5.8 of the Meridian Disclosure Schedule sets forth a description of those matters, if any, shown in the Environmental Reports as to which ATS has objected and which Meridian has agreed to remedy prior to or, with the written approval of ATS, subsequent to the Closing Date (the "Disapproved Environmental Matters" which term shall include any matters added thereto pursuant to the provisions of the last sentence of this Section). All matters disclosed by the Environmental Reports (as of the date hereof) which are not reflected on Section 5.8 of the Meridian Disclosure Schedule have heretofore been approved by ATS. If, at any time following the date hereof, Meridian or the Environmental Company notifies ATS of any additional matter affecting the environmental status of the Environmental Real Property, the parties shall negotiate in good faith in an effort to resolve such matters and, in the event that are not able to reach such agreement within thirty (30) days of the date ATS has received written notification thereof, either party may terminate this Agreement with the effect set forth in Section 7.2.