Phase I ESA. A Phase I Environmental Site Assessment.
Phase I ESA. Purchaser has received a Phase I Environmental Site Assessment (“ESA”) for the Project Site, current and valid on the Closing Date under ASTM Standard Practice E1527-13 for ESAs, addressed to Purchaser as the user, or accompanied by a reliance letter in form and substance reasonably satisfactory to Purchaser.
Phase I ESA. During the Study Period, Buyers may have a Phase I ESA performed by a qualified environmental consultant of Buyers’ selection. If the consultant recommends further assessment or remediation (including but not limited to a Phase 2 ESA) (the “Phase I Recommendations”), Buyers may, at their option, on or before sixty (60) days prior to the last day of the Study Period provide Seller notice of the Phase I Recommendations and thereafter negotiate with Seller regarding an appropriate “Corrective Action Plan.” If Xxxxxx and Seller are not able to agree upon a Corrective Action Plan that would address the Phase I Recommendations to Buyers’ satisfaction, Buyers may, at their option, terminate this Contract prior to expiration of the Study Period. In the event Buyers terminate the Contract pursuant to this Section 5, Buyers shall provide notice of termination to Seller with a copy to the Settlement Agent, and the Settlement Agent shall promptly refund the Deposit to Buyers, less the Retained Deposit which will be delivered to Seller, each together with any interest accrued thereon, and thereafter neither party will have any continuing obligations or liabilities hereunder except for those that expressly survive termination.
Phase I ESA. The Phase I ESA Report was prepared by Xxxxxx, Xxxxxx & Associates (December 2020) and was funded by the NMED Brownfields Program as a Targeted Brownfields Assessment through 128(a) grant funding. The investigation revealed one recognized environmental condition (RECs) in connection with the Site. This REC was soil staining at an above ground storage tank which was found on the Site during the Phase I investigation. The report also identified the potential presence of ACM as a Business Environmental Risk.
Phase I ESA. A Phase I ESA will be conducted for the property to determine the potential for historic environmental impacts at the site. The Phase I ESA will conform to the ASTM 1527- 21 standards and will include the following: site reconnaissance, interviews, a historical records review, and database search.
Phase I ESA. Copies of any environmental reports, including any Phase I Environmental Site Assessments and/or Phase II Environmental Site Assessments, concerning all or part of the Real Property that are in Seller’s possession or control.
Phase I ESA. H&H will also complete a Phase I ESA in accordance with ASTM 1527-05 for the facility. It is anticipated that this will be an update to the previous Phase I ESA completed by Terracon in 2010. Schedule 2 to Purchase and Sale Agreement Seller’s Environmental Reports Name of Report Date of Report Prepared By No Action Letter 12.23.11 North Carolina Department of Environment and Natural Resources Closure Report Addendum Former PCA Facility 4.13.11 Terracon Consultants, Inc. Results of Additional Soil Sampling/Former PCA Facility 12/5/2011 Terracon Consultants, Inc. Phase I Environmental Site Assessment/CPI, Corp. Property 8.16.10 Terracon Consultants, Inc. Closure Report Former PCA Facility 4.16.10 Terracon Consultants, Inc. Environmental Sampling Report Former PCA Facility 4/1/2009 S&ME, Inc. Underground Storage Tank Removal/PCA Facility 12.24.08 Terracon Consulting Engineers & Scientists Report of Asbestos Inspection Services 7/2/2008 S&ME, Inc. No Sampling Letter 5.24.07 Bureau Veritas North America Report of Soil Sampling and Laboratory Analysis - PCA Facility 7/1/2009 Terracon Consultants, Inc. Phase I Environmental Site Assessment 3.21.07 Bureau Veritas North America PPAB 1982903v3 EXHIBIT A to Purchase and Sale Agreement Description of Land PPAB 1982903v3 EXHIBIT B LICENSE AGREEMENT THIS LICENSE AGREEMENT (“Agreement”) is made and entered into as of the 26 day of July, 2012 by and between CONSUMER PROGRAMS INCORPORATED, a Missouri corporation (“Licensor”), and XXXXXX XXXXXX, INC., a North Carolina corporation (“Licensee”).
Phase I ESA. Seller has previously provided Purchaser with a copy of a Phase I environmental site assessment for the Poway Facility which shall be reasonably satisfactory to Purchaser in form and substance.
Phase I ESA. The obligation of the Purchaser to complete the purchase of the Property on the Closing Date is subject to the condition precedent that on or before the Due Diligence Date the Purchaser has satisfied itself in its sole and unfettered discretion with respect to the environmental condition of the Property, including but not limited to obtaining a current Phase I environmental assessment report of the Property completed by a reputable and experienced environmental consultant (the “Phase I ESA”) at Purchaser’s expense. In the event that the Phase I ESA does not conclude that there are risks of non-compliance of the Property with Environmental Laws and does not recommend that a Phase II ESA be conducted, the Purchaser shall have no right to terminate this Agreement for non-fulfillment of the condition set out in this section and this condition shall be deemed to have been irrevocably waived. The Purchaser shall provide a true copy of the Phase I ESA to the Vendor forthwith after it is obtained by Purchaser and in any event prior to giving any Notice of termination under this Section 4.2.1. Exhibit 10.31 If the Phase I ESA concludes that there are risks of non-compliance of the Property with Environmental Laws and recommends that a Phase II ESA be conducted, the Purchaser shall have the right by Notice given on or before the Due Diligence Date to terminate this Agreement and in that case this Agreement shall be terminated, both parties hereto shall be released from all of their respective liabilities and obligations under this Agreement (other than those liabilities and obligations which are expressly stated to survive the termination of this Agreement) and the First Deposit shall be returned without deduction or set off to the Purchaser. For further certainty, and without limiting the generality of the foregoing, the Vendor acknowledges and agrees that it shall be estopped from challenging the Purchaser's right to terminate this Agreement pursuant to this Section 4.2.1 on the basis that the Purchaser's discretion hereunder was exercised unreasonably. In the event that the Purchaser does not give such Notice on or before the Due Diligence Date and Section 4.2.3 does not apply, the Purchaser shall have no further right to terminate this Agreement under this Section and this condition shall be irrevocably deemed to have been waived.
Phase I ESA. Within ten (10) days after the Effective Date, Seller shall, at its cost and expense, provide Buyer copies of any Phase I Environmental Site Assessments and/or Phase II Environmental Site Assessments concerning the Real Property that is in its possession (individually or collectively, the “Phase I ESA”).
