Environmental Defect Amount definition

Environmental Defect Amount means, with respect to each Environmental Defect, the amount of the Lowest Cost Response of remediation for such Environmental Defect.

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Environmental Defect Amount shall have the meaning given that term in Section 5.04(a).

Environmental Defect Amount has the meaning set forth in Section 3.17.

Examples of Environmental Defect Amount in a sentence

The Environmental Arbitrator may not award Purchaser a greater Environmental Defect Amount than the Environmental Defect Amount claimed by Purchaser in its applicable Environmental Defect Claim Notice.
At Closing, the Title Defect Amount, the Title Benefit Amount or the Environmental Defect Amount that is subject to the Disputed Matter (each a “Disputed Amount”) shall be paid by Purchaser into the Defect Escrow Account at Closing pending resolution of the Disputed Matter and the Closing Cash Payment shall be reduced by such Disputed Amount, and such Disputed Amount shall be released to Seller or Purchaser, as applicable, upon resolution of such Disputed Matter.
The Environmental Arbitrator, however, may not award the Buyer a greater Environmental Defect Amount than the Environmental Defect Amount claimed by Buyer in its applicable Environmental Defect Notice.
If, at the end of the Cure Period, Seller and Buyer are unable to agree (a) whether Seller has cured a Post-Closing Curable Defect or (b) to the Title Defect Amount or Environmental Defect Amount attributable to a Post-Closing Curable Defect, then the applicable amount of funds in dispute, and accrued interest thereof, shall remain with the Escrow Agent pursuant to the Escrow Agreement until such disagreement shall be resolved as provided in Section 8 of Exhibit A.
The Defects Arbitrator shall determine only each specific Disputed Defect Matter, and, (unless the Disputed Defect Matter relates to a Title Defect Amount), the corresponding Title Benefit Amount or (as the case may be) the Environmental Defect Amount.

More Definitions of Environmental Defect Amount

Environmental Defect Amount means, with respect to each Environmental Defect, the estimated Lowest Cost Response net to Company Parties’ interest of the costs of correction, removal or remediation for such Environmental Defect.

Environmental Defect Amount means with respect to an Environmental Defect, the present value as of the Closing Date of the Lowest Cost Response of such Environmental Defect (net of the Company’s interest).

Environmental Defect Amount has the meaning set forth in Section 12.10(c).

Environmental Defect Amount means, with respect to a Title Defect Property or Environmental Defect Property, as applicable, the reduction, in the Allocated Value (as set forth on Exhibit A-1, of a property as a result of the existence of one or more Title Defects or Environmental Defects, respectively, which amount will be determined as follows:

Environmental Defect Amount is defined in Section 6 of Exhibit A.

Environmental Defect Amount is defined in Section 2.9(e).

Environmental Defect Amount means with respect to an Environmental Defect, the present value as of the Closing Date of the cost (net to the applicable Target Group Member’s interest) of the Lowest Cost Response of such Environmental Defect; provided that the Environmental Defect Amount with respect to an Environmental Defect shall be determined without duplication of any costs or Losses included in another Environmental Defect Amount hereunder.