Underground Storage Tank Sample Clauses

Underground Storage Tank. Seller has informed Buyer, and Buyer acknowledges, that the Property includes [__] operational [__] gallon underground tank[s] used for the storage of diesel fuel. Buyer acknowledges, subject to Buyer’s right to perform Due Diligence pursuant to this Agreement and to terminate this Agreement pursuant to the foregoing paragraph, that it is a material factor in Seller’s acceptance of the Purchase Price that Buyer agree to accept said tank with the Property.

Underground Storage Tank insured section F

Underground Storage Tank. REMOVAL REPORT dated August 1, 1996 prepared by Smith Environmenta▇ Technologies Corporation;

Underground Storage Tank. 27 5.04 Year 2000 Compliance............................................................. 27 5.05

Underground Storage Tank. Buyer hereby acknowledges receipt, prior to entering into this Agreement, of a disclosure by the Seller as to any underground storage tanks located on the Property of which Seller has knowledge and Buyer acknowledges that Seller has disclosed to Buyer that there has been no removal any underground storage tanks during the ▇▇▇▇ ▇▇▇▇▇▇ has owned the Property pursuant to that certain Phase II Environmental Site assessment dated September 11, 2003 performed by Engineering Consulting Services, Ltd. Buyer acknowledges that such disclosure has been provided in compliance with the D.C. Underground Storage Tank Management Act of 1990, as amended. The form of disclosure is set forth in Exhibit “P” attached hereto.

Underground Storage Tank. The Seller knows of two underground storage tank located on the Property. The provisions of this Section shall survive Closing. The representations and warranties contained in this Section shall be true and correct on the Effective Date and the Closing Date. The Seller shall indemnify and hold the Buyer harmless from any damages sustained by the Buyer that were caused by the Seller’s material breach of any of the above representations and warranties, but only if the claim for indemnification is made within nine (9) months after the Closing Date.

Underground Storage Tank. Notwithstanding anything in this Lease to the contrary, Tenant shall have the right, at Tenant’s sole cost and expense, but without payment of any additional rent under the Lease, to use the four thousand (4,000) gallon underground diesel storage tank originally installed under the Real Property by a prior tenant of the Building (the “UST”), the electrical generator originally installed on the roof of the Building by such prior tenant (the “Generator”) and related equipment, including, but not limited to, fuel lines, electrical lines and electrical power connections and meters to service the Premises (collectively referred to herein, including the UST and the Generator, as the “UST and Generator Equipment”) subject to, and in accordance with, the terms and conditions contained in this Section 5.06. A. Tenant shall deliver to Landlord copies of all permits and other governmental registrations and approvals required by any Legal Requirement now or hereafter in effect applicable to the maintenance, operation and removal of the UST and Generator Equipment, including, without limitation, applicable requirements of the San Francisco Fire Department, San Francisco Department of Public Health, and the Bay Area Air Quality Management District. B. Tenant shall provide to Landlord, and maintain in effect (i) until such time as the Tenant no longer uses the UST and the UST is closed in accordance with applicable Legal Requirements, an Underground Storage Tank Compliance Policy in the minimum amount of One Million Dollars ($1,000,000) and (ii) until such time as Tenant no longer uses the UST and Generator Equipment and the UST is closed in accordance with applicable Legal Requirements, a Pollution Legal Liability Policy in the minimum amount of Five Million Dollars ($5,000,000), each naming Landlord as a loss payee, and otherwise in compliance with Section 7.03 of the Lease. C. Tenant, at its expense, shall keep the UST and Generator Equipment in good condition and repair, and shall comply with all applicable Legal Requirements relating to the maintenance, operation, and closure of the UST and Generator Equipment, including, without limitation, requirements pertaining to leak detection, secondary containment, corrosion protection and integrity testing, general inspections, spill control and response, and inventory control. In the event of a release from the UST and Generator Equipment, Tenant shall be the responsible party for all purposes under applicable Legal Requir...

Underground Storage Tank. The parties acknowledge the existence of an underground storage tank (“UST”) on certain property owned by the Commission to be transferred to the Developer in furtherance of the Project. The UST was previously filled with inert material during the period of the City’s ownership of the Developer Property. The Developer has determined that it is in the best interest of the Project to remove the UST, and the City has agreed to provide the Developer Two Hundred Thirty-Seven Thousand Dollars ($237,000) of additional Local Public Improvements to compensate in part for the cost of the UST’s removal and any ancillary remediation necessary due directly to the UST’s removal. The Developer agrees to indemnify, defend, and hold the City harmless with regard to the choice of contractor and procedure used to remove the UST and with regard to any ancillary remediation directly due to the UST removal. 3. The Developer hereby expressly reaffirms its obligations under the Development Agreement, and, unless expressly modified by this First Amendment, the terms and provisions of the Development Agreement remain in full force and effect. 4. Capitalized terms used in this First Amendment will have the meanings set forth in the Development Agreement unless otherwise stated herein. 5. The recitals set forth above are hereby incorporated into the operative provisions of this First Amendment. 6. This First Amendment will be governed and construed in accordance with the laws of the State of Indiana. 7. This First Amendment may be executed in separate counterparts, each of which when so executed shall be an original, but all of which together shall constitute one and the same instrument. Any electronically transmitted version of a manually executed original shall be deemed a manually executed original.

Underground Storage Tank. Buyer and Seller shall each make a good faith reasonable effort to agree on plans for the removal or sealing of the underground storage tank located near the Sears store in accordance with applicable law.