Examples of Adverse Environmental Conditions in a sentence
Except as set forth on Schedule 3.2.1, there is no suit, action or claim pending before any judicial body or arbitration panel, nor any compliance order or similar governmental action pending before a governmental authority or, to Seller’s Knowledge, threatened with respect to any portion of the Property or Seller’s ownership or operation thereof, excepting, in each case, any Adverse Environmental Conditions, the exclusive remedy of which is set out in Section 5.3.
Prior to Closing, Buyer may review the Inspection Results for the Property and determine, based on the Inspection Results or any other information as may be available to Buyer, if any Adverse Environmental Conditions exist with respect to the Property.
With the exception of those matters described in Annex II below, Buyer also shall be deemed to have conclusively waived any remedies under this Annex II for all Adverse Environmental Conditions not disclosed to Sellers before ten Business Days prior to the Closing Date.
Prior to the Environmental Deadline Date, ASSIGNEE will review the inspection results for the Property and determine, based on those results and such other information as may be available to ASSIGNEE if any Adverse Environmental Conditions exist with respect to the Property.
Buyer shall not send such a notice to Sellers: (a) except with respect to any Adverse Environmental Conditions having an Environmental Defect Value that exceeds $50,000 (the “Environmental Defect Threshold”); and (b) unless Buyer has identified Adverse Environmental Conditions having Environmental Defect Values, in the aggregate, in excess of 1% of the Adjusted Purchase Price (the “Environmental Defect Deductible”).