Phase I Environmental Audit. Permit Sovereign, if Sovereign elects to do so, at its own expense, to cause a "phase I environmental audit" to be performed at any physical location owned or occupied by Bankers or any Bankers Subsidiary on the date hereof;
Phase I Environmental Audit. During the Due Diligence Period, Buyer may conduct (or have conducted on its behalf by an environmental auditor) a Phase I environmental audit of the Real Property, subject to the terms and conditions of Sections 6.4.2 and 6.6 below.
Phase I Environmental Audit. Permit First Star, if First Star elects to do so, at First Star's own expense, to cause a "phase I environmental audit" to be performed at any physical location owned or occupied by NSB on the date hereof. In the event that such "phase 1 environmental audit" reveals a Violation or Condition that would have a Material Adverse Effect, First Star may, without any further obligation hereunder, terminate this Agreement.
Phase I Environmental Audit. Buyer may obtain at its own expense, as soon as practicable, but in any event within thirty (30) days of the date of this Agreement, Phase I reports pursuant to ASTM Standard E 1527-97 or other standard environmental assessments (the "Environmental Reports") with respect to any properties owned or leased by the Company from and environmental engineering firm selected by Buyer. Buyer acknowledges and agrees that the Company leases all its real property and, as a result, Buyer's ability to obtain such Environmental Reports may be limited. If Buyer elects to obtain such Environmental Reports, Buyer shall, promptly (but in no event later than five (5) business days) after receipt thereof, provide a copy of such Environmental Reports to the Company.
Phase I Environmental Audit. KNBT shall permit NPB, if NPB elects to do so, at its own cost and expense, to cause a “phase I environmental audit” to be performed at any physical location owned or occupied by KNBT or any KNBT Subsidiary. NPB must commence a “phase I environmental audit” within thirty (30) days of the date of this Agreement or NPB's right to perform such an audit shall be waived.
Phase I Environmental Audit. Permit PSB, if PSB elects to do so, at its own expense, to cause a "phase I environmental audit" to be performed at any physical location owned or occupied by FBKP or any FBKP Subsidiary on the date hereof;
Phase I Environmental Audit. PRFS shall permit CMTY, if CMTY elects to do so, at its own cost and expense, to cause a “Phase I environmental audit” to be performed at any physical location owned or occupied by PRFS or any PRFS Subsidiary; provided that CMTY shall obtain, with the assistance of PRFS, any consents or approvals required by any landlord that leases any such physical location to PRFS or a PRFS Subsidiary.
Phase I Environmental Audit. MNB shall permit Fidelity to the extent it so elects within ninety (90) days of the date of this Agreement, at its own expense, to cause a “Phase I Environmental Audit” to be performed at any physical location owned or occupied by MNB or any of its Subsidiaries on the date hereof, provided that Fidelity or its designated contractor conducts such Phase I Environmental Audit in a manner which so as not to interfere unreasonably with normal operations and customer and employee relationships of MNB or any of its Subsidiaries.
Phase I Environmental Audit. Purchaser and/or its appointed agents shall be entitled to perform at Purchaser’s sole cost and expense, a Phase I environmental audit of all the Real Property (the “Phase I Audit”); provided that the Phase I Audit shall not include any invasive testing or soils boring. Purchaser agrees to undertake the Phase I Audit within thirty days of the date of this Agreement and to complete the Phase I Audit within forty-five days of the date of this Agreement. Each of the MGM Acquired Entities shall provide Purchaser and its appointed agents access to the Real Property as needed to conduct the Phase I Audit. Each of the MGM Acquired Entities shall fully cooperate with all reasonable requests made by Purchaser and its appointed agents in connection with the Phase I Audit. Purchaser hereby indemnifies and holds the MGM Parties harmless from and against any and all Liabilities and Losses arising from or otherwise relating to the entry of the personnel performing the Phase I Audit on the Real Property, except if the Liability or Loss results from the gross negligence of the MGM Parties.
Phase I Environmental Audit. Purchaser shall have received acceptable results from the Phase I Audit which results disclose no adverse conditions not set forth in Section 3.13 of the Disclosure Schedule. The results shall be deemed acceptable if the Phase I Audit confirms the accuracy of the representations and warranties made in Section 3.13 and reveals no material environmental risks or Liabilities associated with any of the Real Property or the business conducted thereon. If the Phase I Audit reveals adverse conditions not set forth in Section 3.13 of the Disclosure Schedule which would require expenditures in excess of $1,000,000 to remediate, Purchaser may notify Seller in writing of its election to terminate this Agreement not later than fifteen days following Purchaser’s receipt of the Phase I Audit written report. Seller shall then have fifteen days to elect to accept Purchaser’s termination or to remediate the adverse conditions prior to the Closing at Seller’s sole cost and expense and to the Purchaser’s reasonable satisfaction, in which case this Agreement shall continue in full force and effect.
