Remediation Standard. With respect to environmental matters for which indemnity is provided herein and for which Remedial Action is required in connection with the resolution of such matter, Buyer Indemnified Persons acknowledge that the Surviving Corporation and its Subsidiaries intend to use the Real Property for industrial or warehouse use substantially consistent with such use as of the Closing, as the case may be and, accordingly, any Remedial Action conducted in connection with such indemnified matter shall be to the least stringent cleanup standard that (i) is permitted under applicable Environmental Laws, (ii) complies with any order or requirement of any applicable governmental authority consistent with such industrial or warehouse use, (iii) settles and resolves any related Asserted Liability, (iv) reduces employee exposure to any related Materials of Environmental Concern below applicable permissible exposure limits established by applicable governmental authorities, (v) with respect to Leased Real Property, satisfies the requirements under the lease agreement pertaining to such Leased Real Property, and (vi) does not unreasonably interfere with continued industrial or warehouse use, as the case may be, of the Real Property. The least stringent cleanup standard may include environmental land use restrictions or similar institutional controls permitted under applicable Environmental Laws and the applicable governmental authority, so long as such restrictions or controls (1) do not unreasonably or materially interfere with or interrupt the Parent’s, the Surviving Corporation’s, and the Subsidiaries’ operations at the relevant Real Property, (2) with respect to Leased Real Property, satisfy the conditions of the lease agreement pertaining to such Leased Real Property and are acceptable to the owner of such Leased Real Property, (3) do not unreasonably expose the Parent or the Surviving Corporation to a risk of liability to third parties as a result of the potential for offsite migration of Materials of Environmental Concern, and (4) do not impose in the aggregate operation and maintenance costs on the Buyer Indemnified Persons of more than $2,500 per year at any individual Real Property, unless the holders at Closing of Company Common Stock and Company Warrants agree to reimburse the Buyer Indemnified Persons for any costs in excess of such amount (subject to the limitations of Damages set forth in this Agreement).
Remediation Standard. Crompton's obligation to perform Remediation and/or pay Remediation Costs at any of the OSi Premises shall be limited to the reasonable cost of work necessary to achieve the minimally acceptable Remediation criteria for industrial/commercial properties in the location where any of the OSi Premises is located, or if subject to a Third-Party Claim, the minimal work or actions necessary to resolve such a Claim. The issuance of a No Further Action Determination shall conclusively establish that 137 Crompton has met its obligations as provided in this Section 5A.5, except to the extent such No Further Action Determination is subject to any Environmental Re-openers. GE acknowledges that the completion of Remediation hereunder to industrial/commercial standards, and/or the attainment of a No Further Action Determination, may require engineering controls and institutional controls, including deed restrictions that may limit future use of any of the OSi Premises. GE agrees to accept and assist in obtaining such restrictions and controls as may be required by an Environmental Agency consistent with this Section 5A.5, and agrees that such restrictions and controls shall be binding on GE and any successor or assign of GE, PROVIDED, HOWEVER, that such restrictions and controls do not unreasonably impair the chemical manufacturing operations at any of the OSi Premises or have a material adverse effect on the value or salability of any of the OSi Premises as a site intended for similar industrial use.
Remediation Standard. Remediation shall be completed consistent with the Environmental Remediation Requirements.
Remediation Standard. Sellers' obligation to perform Remediation and pay Remediation Costs shall be limited, except with respect to natural resources damages for each Facility, to the reasonable cost of work necessary to achieve the Remediation criteria for industrial/commercial properties as determined by the applicable Environmental Agency in the jurisdiction in which such Facility is located, which may be evidenced by the issuance of a No Further Action Determination by the Environmental Agency having jurisdiction over the Facility. Buyer acknowledges that the completion of Remediation hereunder to industrial/commercial standards, and/or the attainment of a No Further Action Determination, may require engineering controls and institutional controls, including deed restrictions, that the applicable Environmental Agency determines are necessary in connection with the Remediation. Buyer agrees to accept such restrictions and controls as may be approved by an Environmental Agency and agrees that such restrictions and controls consistent with this Section 3.2(d) shall be binding on Buyer and any successors or permitted assigns of Buyer.
Remediation Standard. Sellers' obligation to perform Remediation and pay Remediation Costs shall be limited, except with respect to natural resources damages for each Facility, to the reasonable cost of work necessary to achieve the Remediation criteria for industrial/commercial properties as determined by the applicable Environmental Agency in the jurisdiction in which such Facility is located, which may be evidenced by the issuance of a No Further Action Determination by the Environmental Agency having jurisdiction over the Facility. CIS and Buyers acknowledge that the completion of Remediation hereunder to industrial/commercial standards, and/or the attainment of a No Further Action Determination, may require engineering controls and institutional controls, including deed restrictions, that the applicable Environmental Agency determines are necessary in connection with the Remediation, and CIS and Buyers agree to provide Sellers with reasonable assistance in obtaining such controls and restrictions. CIS and Buyers agree to accept such restrictions and controls as may be approved by an Environmental Agency and agree that such restrictions and controls consistent with this Section 14.6(d) shall be binding on CIS and any successors or permitted assigns of CIS, provided, however, that such deed restrictions and/or engineering controls do not have a material adverse effect or unreasonably interfere with then- existing industrial/commercial site operations.
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