Environmental Assessment definition

Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Environmental Assessment. An “environmental site assessment” as such term is defined in, and meeting the criteria of, the American Society of Testing Materials Standard Section E 1527-00, or any successor thereto.

Environmental Assessment. A "Phase I" environmental assessment of a Mortgaged Property prepared by an Independent Person who regularly conducts environmental assessments and who has any necessary license(s) required by applicable law and has five years experience in conducting environmental assessments.

Examples of Environmental Assessment in a sentence

Notwithstanding anything herein to the contrary, for anything other than a Phase I Environmental Assessment, ▇▇▇▇▇ must obtain Seller’s prior written consent (which consent may be withheld in Seller’s sole discretion) and any third-Person operator’s consent as to the scope of any proposed environmental assessment, including testing protocols.
Prior to Closing, ▇▇▇▇▇ will have the right to conduct a Phase I Environmental Assessment of the Property, subject to the terms set forth in Section 5.2 and this Section 5.3. The Phase I Environmental Assessment may be conducted by Buyer or by ▇▇▇▇▇’s agent or representative, such agent or representative to be mutually acceptable to Seller and Buyer (the “Inspector”).
Seller may have a representative present at all times during ▇▇▇▇▇’s inspections of the Property, including during any Phase I Environmental Assessment conducted by or on behalf of Buyer.
A Phase I Environmental Assessment shall not include, and Buyer shall not conduct, or cause to be conducted, during any inspection of the Property, any soil or groundwater sampling, surface testing, boring, drilling or subsurface testing of any kind.

More Definitions of Environmental Assessment

Environmental Assessment means an assessment including, without limitation: (i) an environmental site assessment conducted in accordance with the then-current standards of the American Society for Testing and Materials and meeting the requirements for satisfying the “all appropriate inquiries” requirements; and (ii) sampling and testing of the Premises based upon potential recognized environmental conditions or areas of concern or inquiry identified by the environmental site assessment.

Environmental Assessment. A "Phase I assessment" as described in, and meeting the criteria of, the American Society of Testing Materials Standard Sections 1527-99 or any successor thereto published by the American Society of Testing Materials.

Environmental Assessment. A "Phase I assessment" as described in, and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any successor provisions covering the same subject matter in the case of a Specially Serviced Mortgage Loan as to which the related Mortgaged Property is multifamily property or (ii) the American Society for Testing and Materials in the case of Specially Serviced Mortgage Loan as to which the related Mortgaged Property is not multifamily property.

Environmental Assessment means a written assessment and report approved by the Administrative Agent as to the status of any Mortgaged Properties regarding compliance with any Legal Requirements related to environmental matters and accompanied by a reliance letter satisfactory to the Administrative Agent. Each Environmental Assessment must comply with all Legal Requirements.

Environmental Assessment has the meaning specified in Section 7.12(b).

Environmental Assessment means the preparation of an environmental report, the carrying out of consultations, the taking into account of the environmental report and the results of the consultations in decision-making and the provision of information on the decision in accordance with Articles 4 to 9;

Environmental Assessment means an environmental site assessment with respect to the Facility and the Facility Site prepared by a recognized environmental consulting firm on behalf of Seller for purposes of, among other things, satisfying CERCLA § 101(35)(B), 42 U.S.C. § 9601(35)(B), and the regulations thereunder defining “all appropriate inquiry,” 40 CFR Part 312, and ASTM E1527-13, including, if applicable, a vapor intrusion assessment per ASTM E 2600.