Financial Assurance Amount Clause Samples

Financial Assurance Amount. In accordance with applicable Law, Seller shall take all commercially reasonable actions necessary with the applicable Governmental Authorities to withdraw the entire Financial Assurance Amount (such withdrawn amounts, the “Withdrawn Amounts”) effective on the day prior to the Closing Date (and prior to such time, shall continue to fund the Financial Assurance Amount as required by applicable Law). In accordance with applicable Law, as of the Closing Date Buyer shall take all commercially reasonable actions necessary with the applicable Governmental Authorities to deposit an amount into an escrow account established with the Florida Department of Environmental Protection and trust fund established pursuant to the Consent Decree as required by applicable Law.