Phase II Reports Sample Clauses
The 'Phase II Reports' clause defines the requirements and procedures for conducting and delivering detailed environmental assessments, typically following an initial Phase I review. This clause outlines when a Phase II report is necessary, the scope of testing (such as soil or groundwater sampling), and the standards or qualifications required for the professionals performing the assessment. Its core practical function is to ensure that any potential environmental contamination is thoroughly investigated and documented, thereby managing risk and informing parties of any remediation obligations before proceeding with a transaction or development.
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Phase II Reports. No later than 45 days after the date hereof, Purchaser shall have completed the Phase II Reports in respect of the Krefeld Property and the Borgaro Property and (B) the findings set forth in the Phase II Reports would not reasonably be expected to result in a breach of any representation or warranty set forth in Section 2.16 of the Germany Purchase Agreement or the IRCI Purchase Agreement (in each case without giving effect to any materiality or Material Adverse Effect qualifiers contained therein).
Phase II Reports. Notwithstanding the foregoing, (a) Seller shall be provided with a copy of any written results of the Phase II Testing at the same time Buyer is provided with such results; (b) Buyer shall repair any damage to the Property caused by such Phase II Testing, and (c) Buyer hereby specifically agrees that because Seller is the owner of the Property, Seller shall control the timing and nature of disclosure of any Phase II Testing to the Minnesota Pollution Control Agency ("MPCA") and/or other required governmental entities. Accordingly, Seller and Buyer agree that Seller's approval of the Phase II Request shall include (i) written confirmation of the terms of this Section 8.2.3 and (ii) agreement by the Phase II contractor desired by Buyer, Brau▇ ▇▇▇ertec, Inc. ("Brau▇") ▇hat Brau▇ ▇▇▇ll work with Seller's environmental contractor, Peer Environmental & Engineering Resources, Inc. ("Peer") and that Peer shall be the entity to provide disclosure to the MPCA of any new information discovered by the Phase II Testing, provided, however, that Peer shall agree in writing with Buyer and Brau▇ ▇▇ assume responsibility for reporting to the MPCA of Brau▇'▇ findings which are required by law to be so reported, if any.
Phase II Reports. No later than 45 days after the date hereof, Purchaser shall have (A) completed a Phase II environmental site assessment report (each, a “Phase II Report”) in respect of each of (i) the real property leased by IR Germany Holdings GmbH and known as ▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ (the “Krefeld Property”) and (ii) the real property owned by IRCI located at ▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇, ▇▇▇▇▇ (the “Borgaro Property”) and (B) the findings set forth in such Phase II Reports would not reasonably be expected to result in a breach of any representation or warranty set forth in Section 2.16 of the Germany Purchase Agreement or the IRCI Purchase Agreement (in each case without giving effect to any materiality or Material Adverse Effect qualifiers contained therein).
Phase II Reports. Within 60 days after the Closing Date, the Parent shall deliver to each holder of Notes satisfactory copies of “Phase II” environmental reports prepared for any of the ten properties listed on Schedule 4.13(a) for which any Phase I environmental for such property delivered pursuant to Section 4.13(c) recommends the undertaking of a “Phase II” report.
Phase II Reports. Clayco and the Bank shall have paid the costs of Phase II environmental studies on each item of Real Property owned by an Acquired Company prior to Closing.
Phase II Reports. Noble and the Purchaser shall obtain Phase II Environmental Site Assessment reports ("Phase II Reports"), from an environmental consulting firm approved by Comerica Bank and reasonably acceptable to the Company, and performed in accordance with the guidelines required by Comerica Bank, on the Properties located in North Vern▇▇, ▇▇ddletown, Muncie and Sharonville. Noble and the Purchaser shall then cause to be performed all remediation work required by the Phase II Reports (the "Remediation"). The cost of both the Phase II Reports and the Remediation shall be borne by Noble and the Purchaser. Noble and the Purchaser shall provide copies of the Phase II Reports to the Company.
Phase II Reports. Each of the Parties agrees to use their commercially reasonable efforts to mutually agree, as soon as practicable after the date hereof, on the scope of the Phase II Reports; provided, that the Phase II Report for the Krefeld Property will be conducted in a manner consistent with the obligations of IR Germany Holdings GmbH in connection with the Krefeld Property and on the same basis as the Phase II environmental site assessment report previously conducted by IR Germany Holdings GmbH. Purchaser shall promptly make available and deliver to Seller, upon receipt by Purchaser, a copy of the Phase II Reports relating to each of the Krefeld Property and the Borgaro Property, and Seller shall be deemed to have knowledge of all findings set forth in the relevant Phase II Report upon receipt thereof.
Phase II Reports. 40 5. CONDITIONS TO OBLIGATIONS OF NOBLE AND THE PURCHASER................. 40