Acceptable Regulatory Standards definition

Acceptable Regulatory Standards means those standards in effect as of the Closing with respect to the presence of a Hazardous Substance on a real property which (a) if achieved in a cleanup, would be sufficient to satisfy the minimum and lowest cost requirements of the regulatory authorities having jurisdiction with respect to the real property so that such regulatory authorities would issue a letter or other document confirming that no further action is required with respect to the investigation, cleanup, remediation and monitoring of the real property with respect to such Hazardous Substance for the continued use of the real property for industrial or commercial purposes only, including the possible application of restrictive covenants, engineering controls, other types of use restrictions or monitored natural attenuation, for Hazardous Substances for which promulgated remediation standards exist; or (b) where the regulatory authorities do not issue such letters or other documents, would be sufficient to satisfy the promulgated remediation standards of the jurisdiction for the continued use of the real property for industrial or commercial purposes only, including the possible application of restrictive covenants, engineering controls, other types of use restrictions or monitored natural attenuation for the minimum and lowest cost.

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Acceptable Regulatory Standards means those standards currently in effect with respect to the presence of a hazardous substance on the Property which would be sufficient to satisfy the promulgated remediation standards of the jurisdiction where the Property is located for the continued use of the real property for industrial or commercial purposes only, including the possible application of restrictive covenants, engineering controls, other types of use restrictions or monitored natural attenuation for the minimum and lowest cost.

Acceptable Regulatory Standards means those standards in effect as of the Closing Date with respect to the presence of a Hazardous Substance on any Real Property which (A) would be sufficient to satisfy the requirements of the pertinent Governmental Entities of Mexico having jurisdiction with respect to the Real Property so that such Governmental Entities would issue a letter or other document confirming that no further action is required with respect to the investigation, remediation or monitoring of the Real Property with respect to such Hazardous Substance or (B) where the Governmental Entities of Mexico having jurisdiction with respect to the Real Property do not issue such letters or other documents, would be sufficient to satisfy the publicly promulgated requirements of Environmental Law or such regulatory authorities having jurisdiction with respect to the Real Property with respect to the satisfactory completion of investigation, remediation, and monitoring of the Real Property with respect to such Hazardous Substance.

Examples of Acceptable Regulatory Standards in a sentence

After such Agency Notification is made, the Sellers shall perform, or cause to be performed, the appropriate Environmental Activity and the Sellers shall obtain the written concurrence of the appropriate Governmental Authority that no further action is necessary in respect of such REC to otherwise achieve the Acceptable Regulatory Standards.
To the extent an Agency Notification is required, then Sellers shall, in a form, manner and time specified by applicable Environmental Laws and reasonably acceptable to Purchaser: (i) make such Agency Notification, and (ii) perform, or cause to be performed, such actions as are necessary under applicable Environmental Laws (the “Environmental Activity”) to achieve Acceptable Regulatory Standards.
After such CCBCC Agency Notification is made, the CCBCC Parties shall perform, or cause to be performed, the appropriate Environmental Activity, and the CCBCC Parties shall obtain the written concurrence of the appropriate Governmental Authority that no further action is necessary in respect of such REC to otherwise achieve the Acceptable Regulatory Standards.
After such Agency Notification is made, the CCR Parties shall perform, or cause to be performed, the appropriate Environmental Activity, and the CCR Parties shall obtain the written concurrence of the appropriate Governmental Authority that no further action is necessary in respect of such REC to otherwise achieve the Acceptable Regulatory Standards.
After such CCBU Agency Notification is made, the CCBU Parties shall perform, or cause to be performed, the appropriate Environmental Activity, and the CCBU Parties shall obtain the written concurrence of the appropriate Governmental Authority that no further action is necessary in respect of such REC to otherwise achieve the Acceptable Regulatory Standards.

More Definitions of Acceptable Regulatory Standards

Acceptable Regulatory Standards means those standards with respect to the presence of a Hazardous Substance on the Real Property which (A) are sufficient to satisfy the requirements of the Governmental Entities having jurisdiction with respect to the Real Property so that such Governmental Entities will issue a letter or other document confirming that no further action is required with respect to the investigation, cleanup, remediation and monitoring of the Real Property with respect to such Hazardous Substance or (B) where the Governmental Entities do not issue such letters or other documents, satisfy the publicly promulgated requirements of Environmental Laws and such Governmental Entities with respect to the satisfactory completion of investigation, remediation, cleanup and monitoring of the Real Property with respect to such Hazardous Substance or (C) are otherwise less stringent standards that are satisfactory to Purchaser, acting reasonably, provided that the standards must be those that will not unreasonably restrict activity at the Real Property.