Environmental Compliance Cost definition
Environmental Compliance Cost means any reasonable out-of-pocket cost, fee or expense incurred directly to satisfy any requirement imposed by an Environmental Agency to bring the Property into compliance with applicable Federal, State and local laws and regulations directly relating to the existence on the Property of any Hazardous Material.
Environmental Compliance Cost means any cost or expense of any nature whatsoever necessary to enable the Property to comply with all applicable Environmental Laws in effect. “Environmental Compliance Cost” shall include all costs necessary to demonstrate that the Property is capable of such compliance.
Environmental Compliance Cost shall include all costs necessary to demonstrate that the Property is capable of such compliance.
Examples of Environmental Compliance Cost in a sentence
The term "Environmental Compliance Cost" means any reasonable out-of-pocket cost, fee or expense incurred directly to satisfy any requirement imposed by an Environmental Agency to bring the Property into compliance with applicable Federal, State and local laws and regulations directly relating to the existence on the Property of any Hazardous Material.
Except as set forth in the reports described in Exhibit "I" attached hereto and made a part hereof (the "Environmental Reports"), Seller has received no written notice of the existence, deposit, storage, removal, burial or discharge of any material known to Seller to be a "Hazardous Material" at, upon, under, within or adjacent to the Property, in an amount which, in Seller's reasonable judgment, would, as of the date hereof, give rise to an "Environmental Compliance Cost".
No Environmental Compliance Cost is necessary in respect of the Assets or the Business.
Except as set forth in the reports described in Exhibit "I" attached hereto and made a part hereof (the "Environmental Reports"), Seller has received no written notice of the existence, deposit, storage, removal, burial or discharge of any material known to Seller to be a "Hazardous Material" at, upon, under or within the Property, in an amount which would, as of the date hereof, give rise to an "Environmental Compliance Cost".
The term "Environmental Compliance Cost" means any reasonable out-of-pocket cost, fee or expense exceeding $2,500 and incurred directly to satisfy any requirement imposed by an Environmental Agency to bring the Property into compliance with applicable Federal, State and local laws and regulations directly relating to the existence on the Property of any Hazardous Material.
More Definitions of Environmental Compliance Cost
Environmental Compliance Cost shall include all costs necessary to demonstrate that the Site is capable of such compliance.
Environmental Compliance Cost means any out-of-pocket cost, fee or expense incurred directly to satisfy any requirement imposed by an Environmental Agency to bring the Property into compliance with applicable Federal, State and local laws and regulations directly relating to the existence on the Property of any Hazardous Material. Buyer hereby acknowledges that it is acquiring the Property subject to the matters disclosed in the Environmental Reports, and Buyer shall at Closing, assume the obligations for, and release Seller from any liability relating to (whether under local, state or federal law), any matters disclosed in the Environmental Reports; provided, however, nothing in the foregoing shall constitute an indemnification by Buyer in favor of Seller for any third party claims with respect to such matters and in the event that any claim is made against Buyer by any governmental agency or any third party based on any violation of environmental laws or any contamination of the Property by Hazardous Materials prior to the Closing Buyer shall be entitled to seek contribution or indemnification from Seller on account thereof in accordance with any applicable laws, rules, regulations or statutes (such rights or remedies in all events being subject to the limitations on liabilities contained in this Agreement, including those set forth in paragraph 9B hereof).
Environmental Compliance Cost means any cost(s) necessary to enable the Site to comply with all applicable Environmental Law(s) incurred after the Closing as required to construct and operate the Project, including the costs necessary to demonstrate said compliance.
Environmental Compliance Cost means any material out‑of‑pocket cost, fine, penalty, fee or expense incurred directly to satisfy any requirement imposed by the U.S. Environmental Protection Agency, the U.S. Department of Transportation, or any instrumentality authorized to regulate substances in the environment which has jurisdiction over the Property to bring the Property into compliance with applicable Environmental Law directly relating to the existence on the Property of any Hazardous Substance. The term "Environmental Law" shall mean (a) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended ("CERCLA"), and (b) any other federal, state or local law, ordinance, rule, or regulation applicable to the Property and establishing liability standards or required action as to emissions, discharges, releases or threatened releases of pollutants, contaminants or 3721766.8 Gardere01 - 10003657v.4 chemicals, or industrial, toxic or other hazardous substances or waste into the ambient air, soil, soil vapor, groundwater, or surface water on or about the Property.
Environmental Compliance Cost means any cost, expense or investment of any nature whatsoever (other than those assumed by Purchaser pursuant to Section 1.02(a)(vi) hereof and other than Pre-Closing Environmental Cleanup Liability) necessary to enable the Assets, with normal operation and maintenance, to comply with all applicable (a) Environmental Laws and (b) laws or regulations relating to the use or removal of asbestos or polychlorinated biphenyls, in each case to the extent in effect and requiring compliance as of the Closing and any loss, damage or expense arising from the failure of the Assets so to comply as of the Closing and accruing until such noncompliance is remedied.
Environmental Compliance Cost means any reasonable out-of-pocket cost, fee or expense incurred directly to satisfy any requirement imposed by any governmental agency authorized to regulate materials and substances in the environment which has jurisdiction over the Property to bring the Property into compliance with applicable Federal, State and local laws and regulations directly relating to the existence on the Property of any Hazardous Material. Buyer hereby acknowledges that it is acquiring the Property subject to the matters disclosed in the Environmental Reports, and Buyer shall at Closing, assume the obligations for, and release Seller from any liability relating to (whether under local, state or federal law), any matters disclosed in the Environmental Reports.
Environmental Compliance Cost means any reasonable out-of-pocket cost, fee or expense incurred directly to satisfy any requirement imposed by an Environmental Agency to bring the Property into compliance with applicable Federal, State and local laws and regulations directly relating to the existence on the Property of any Hazardous Material. Without limitation on any other provision herein, Buyer and ▇▇▇▇▇▇▇▇ specifically acknowledge and agree that they each hereby waive, release and discharge any claim it or they have, might have had, or may have against Seller or Seller's past, present and future employees, partners, directors, officers, shareholders, attorneys, agents and representatives and its and their respective successors and assigns, with respect to the compliance with federal, state or local statutory or common law, ordinance or regulation, including, but not limited to, claims arising under the Comprehensive Environmental Response Compensation Liability Act ("CERCLA"), 42 U.S.C. Section 9601 et seq., California Health and Safety Code Sections 25100 et seq., or any other federal, state and local environmental laws pertaining to the existence or release of hazardous substances from or at the Property or the environmental condition of the Property for claims arising from matters contained in the Environmental Reports and in the ▇▇▇▇▇▇▇▇ Letter. In addition to, and not in limitation of any other indemnification obligations of Buyer set forth in this Agreement (including, without limitation, those set forth in paragraph 8A hereof), Buyer and ▇▇▇▇▇▇▇▇ shall jointly and severally hold harmless, indemnify and defend Seller from and against: (1) any and all claims, expenses, liability, loss, damage or third party claims, known or unknown, in any way arising from or related to matters contained in the Environmental Reports, (2) any and all claims, expense, liability, loss, damage or third party claims, known or unknown, in way arising from or related to matters specified in, or which can be reasonably inferred from, the ▇▇▇▇▇▇▇▇ Letter, and (3) all costs and expenses, including reasonable attorney's fees, incurred by Seller as a result of the foregoing. Any indemnification obligations set forth herein shall be subject to the provisions of paragraph 8C hereof. Buyer and ▇▇▇▇▇▇▇▇ each hereby agree, represent and warrant that the matters released herein are not limited to matters which are known or disclosed, and Buyer and ▇▇▇▇▇▇▇▇ each hereby expressly waive and relinquish any and all r...