Environmental Defect Deductible definition

Environmental Defect Deductible means an amount equal to two percent (2%) of the unadjusted Purchase Price.

Environmental Defect Deductible means an amount equal to 1.5% of the Base Purchase Price.

Environmental Defect Deductible is defined in Section 5.4.

Examples of Environmental Defect Deductible in a sentence

• Purchaser shall be entitled to a downward adjustment to the Base Purchase Price in the amount, if any (the “Environmental Defect Adjustment”), by which: (i) the sum of the Environmental Defect Values with respect to all Surviving Environmental Defects; exceeds (ii) the Environmental Defect Deductible.

• If the Environmental Expert determines there is no Environmental Defect, or the Environmental Defect Amount is less than the Individual Environmental Defect Threshold or the aggregate of all Environmental Defect Amounts does not exceed the Environmental Defect Deductible, Buyer shall be responsible for its working interest share of all costs and expenses to remove or cure the Environmental Defect (s).

• If the Environmental Expert determines there is an Environmental Defect, and the amount of such Defect exceeds the Individual Environmental Defect Threshold and the amount of all Environmental Defects exceeds the Environmental Defect Deductible, Seller shall indemnify Buyer against all liability, loss, cost and expense resulting from such Environmental Defect in excess of the Defect Threshold to the extent the aggregate of all Environmental Defect Amounts exceeds the Environmental Defect Deductible.

• If, after taking into account the provisions of this Article 6, the Environmental Defect Deductible is equal to or greater than the sum of the Environmental Defect Values with respect to all Surviving Environmental Defects, then Purchaser shall not be entitled to an Environmental Defect Adjustment.

• In the event that the aggregate of all such Environmental Defect Amounts in excess of the Individual Environmental Defect Threshold exceeds the Aggregate Environmental Defect Deductible, the adjustment to the Purchase Price shall only be for the amount by which the total of all such Environmental Defect Amounts exceeds the Aggregate Environmental Defect Deductible.

More Definitions of Environmental Defect Deductible

Environmental Defect Deductible means 1.5% of the unadjusted Participating Purchase Price.

Environmental Defect Deductible has the meaning assigned to such term in Section 7.7(b).

Environmental Defect Deductible means an amount equal to one and one-half percent (1.5%) of the Unadjusted Purchase Price.

Environmental Defect Deductible shall have the meaning given such term in Section 5.05.

Environmental Defect Deductible means $50,000. “Environmental Escrow Amount” means $5,000,000.

Environmental Defect Deductible means two (2%) of the Base Purchase Price. “Environmental Defect Threshold” means $50,000.

Environmental Defect Deductible shall have the meaning given such term in Section 5.05. “Environmental Defect Notice” shall have the meaning given that term in Section 5.02. “Environmental Defect Property” shall have the meaning given than term in Section 5.02. “Environmental Examination Period” shall have the meaning given that term in Section 5.01(a).