Common use of Phase I Environmental Audit Results Clause in Contracts

Phase I Environmental Audit Results. The results of any Phase I environmental audit conducted pursuant to Section 5.08(a)(ii) hereof shall not result in a Material Adverse Effect on FNB; provided, however that (i) any such environmental audit must be initiated within sixty (60) days of the date of this Agreement and (ii) Tower must terminate or irrevocably waive its right to terminate the Agreement for failure of the condition set forth in this Section 6.02(m) within thirty (30) days of receiving the results of such environmental audit.

Phase I Environmental Audit Results. The results of any Phase I environmental audit conducted pursuant to Section 5.08(a)(ii5.07(a)(iii) hereof shall not result in a Material Adverse Effect on FNBPFI; provided, however that (i) any such environmental audit must be initiated within sixty thirty (6030) days of the date of this Agreement and (ii) Tower NPB must terminate or irrevocably waive its right to terminate the Agreement for failure of the condition set forth in this Section 6.02(m6.02(j) within thirty fifteen (3015) days of receiving the results of such environmental audit.