Exceedance(s) of Clean Up Standards Sample Clauses

Exceedance(s) of Clean Up Standards. If any Phase II Environmental Site Assessment at the location or locations of the “recognized environmental condition” at a Designated Location finds that concentrations of Hazardous Materials are determined to be present at, on, under or around the property at the location or locations of the “recognized environmental condition” on that Designated Location (including, without limitation, the soil, groundwater, surface water, sediment or other media) in exceedance of applicable Clean Up Standards and do not clearly originate from an off-site source, then (i) Buyer shall provide Seller with a copy of such Phase II Environmental Site Assessment within ten (10) Business Days after Buyer’s receipt of the Phase II Environmental Site Assessment and (ii) the Parties shall agree upon a remediation plan (or plans) as follows: (i) Buyer shall be entitled, at its cost, to commission a qualified environmental consultant, reasonably acceptable to Seller (“Buyer’s Environmental Consultant”), to prepare a remediation plan (or plans) to address concentrations of Hazardous Materials at, on, under or around the location or locations of the “recognized environmental condition” at the Designated Location (including, without limitation, the soil, groundwater, surface water, sediment or other media) in exceedance of applicable Clean Up Standards at the location or locations of the “recognized environmental condition” at that Designated Location that do not clearly originate from an off-site source (“Buyer’s Remediation Plan”). Buyer’s Remediation Plan shall (A) be based on the most cost-effective means reasonably available, including, to the extent reasonable, the use of any site-specific risk-based standards, deed restrictions, land-use restrictions, engineering controls, natural attenuation, and monitoring activities, (B) meet a reasonable standard allowed under Environmental Laws consistent with commercial/industrial use at the subject Designated Location compatible with current zoning at such Designated Location and (C) include, at a minimum, a summary of remedial action and cost estimate to address each location or locations of the “recognized environmental condition” where an exceedance of Clean Up Standards exists. Buyer shall submit Buyer’s Remediation Plan, together with copies of all underlying or otherwise relevant Phase II Environmental Site Assessments not provided to Seller previously, to Seller for consideration not later than thirty (30) Business Days following ...
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Related to Exceedance(s) of Clean Up Standards

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