Environmental Remediation Amount definition

Environmental Remediation Amount means an amount calculated in a manner consistent with Section 1.1(b) of the Seller Disclosure Schedules.
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Environmental Remediation Amount means, with respect to any period, -------------------------------- an amount equal to $20,000,000 plus any moneys released to the Company from ---- trust funds or annuities that the Company is required to maintain pursuant to California Requirements of Law from December 31, 1997 to the last day of such period.
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Environmental Remediation Amount means the amount set forth on Schedule III .
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Examples of Environmental Remediation Amount in a sentence

  • Allocated Environmental Remediation Amount: with respect to each Property at which there is an Existing Environmental Condition, the amount set forth with respect to such Property on Schedule 10.

  • Notwithstanding anything in this Agreement to the contrary, Seller shall have no liability to Buyer for any contamination or environmental remediation costs associated with the matters upon which the Environmental Remediation Amount is based.

  • The Environmental Remediation Amount shall not exceed two million five hundred thousand dollars ($2,500,000).

  • Seller shall, and shall cause SSC to, extend all reasonable efforts to cooperate with the Buyer and the Independent Consultant in order to facilitate the determination of the Environmental Remediation Amount by January 29, 1996.

  • If the Environmental Remediation Amount exceeds two million five hundred thousand dollars ($2,500,000), then Seller shall, within three (3) business days after receipt of written notice thereof, notify Buyer whether Seller elects to waive the condition set forth in Section 7.5 hereof (such notice being hereinafter referred to as the "Election Notice").

  • If Seller does not elect to waive such condition, then Buyer shall have the right, to be exercised by written notice to Seller within three (3) business days of receipt by Buyer of Seller's Election Notice, to require that Seller consummate the transactions contemplated by this Agreement (notwithstanding that the condition set forth in Section 7.4 hereof has not been satisfied or been waived by Seller), in which event the Purchase Price shall not be reduced by the Excess Environmental Remediation Amount.

  • As used in this Agreement, the term "Excess Environmental Remediation Amount" shall mean an amount equal to the excess, if any, of the Environmental Remediation Amount over two million five hundred thousand dollars ($2,500,000).

  • The aggregate consideration for the Shares (the "Purchase Price") shall be an amount equal to the Net Current Asset Value of SSC and LPC as of December 31, 1995 (the "Net Current Asset Value Amount"), plus three million dollars ($3,000,000), plus or minus an amount equal to the Final Adjustment Amount defined below, minus the Excess Environmental Remediation Amount (defined in Section 11.1) if the Seller has elected to waive the condition set forth in Section 7.5 hereof.

  • As used in this Agreement, the term "Environmental Remediation Amount" means the discounted present value (using a discount rate equal to 10% per annum) of the aggregate cost, as determined by the Independent Consultant, of remediating to a standard acceptable under applicable law, all material soil or groundwater contamination located at any facilities owned or used by SSC (other than leased office or warehouse space and other than the Manteca Facility).

  • On the date hereof, Borrower shall deposit with Lender the Environmental Remediation Amount (such amount so deposited with Lender shall hereinafter be referred to as the “Environmental Remediation Reserve Funds” and the account in which such amount is held shall hereinafter be referred to as Borrower’s “Environmental Remediation Reserve Account”).


More Definitions of Environmental Remediation Amount

Environmental Remediation Amount means the discounted present value (using a discount rate equal to 10% per annum) of the aggregate cost, as determined by the Independent Consultant, of remediating to a standard acceptable under applicable law, all material soil or groundwater contamination located at any facilities owned or used by SSC (other than leased office or warehouse space and other than the Manteca Facility).
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Environmental Remediation Amount means the amount set forth on Schedule III.
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Related to Environmental Remediation Amount

  • Environmental Requirement means any Environmental Law, agreement or restriction, as the same now exists or may be changed or amended or come into effect in the future, which pertains to health or safety (as they relate to natural resources or the environment), any Hazardous Material, or the environment, including ground, air, water or noise pollution or contamination, and underground or aboveground tanks.

  • Environmental Contamination means the introduction or presence of Hazardous Materials at such levels, quantities or location, or of such form or character, as to constitute a violation of federal, state or local laws or regulations, and present a material risk under federal, state or local laws and regulations that the Premises will not be available or usable for the purposes contemplated by this Agreement.

  • Retained Environmental Liabilities means all Environmental Liabilities of Seller or its Affiliates arising out of or relating to operations or activities that are not primarily related to the Business, whether arising or related to the period before or after Closing.

  • Environmental Conditions means the presence in the environment, including the soil, groundwater, surface water or ambient air, of any Hazardous Material at a level which exceeds any applicable standard or threshold under any Environmental Law or otherwise requires investigation or remediation (including, without limitation, investigation, study, health or risk assessment, monitoring, removal, treatment or transport) under any applicable Environmental Laws.

  • Lender’s Environmental Liability means any and all losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, costs, judgments, suits, proceedings, damages (including consequential damages), disbursements or expenses of any kind or nature whatsoever (including reasonable attorneys’ fees at trial and appellate levels and experts’ fees and disbursements and expenses incurred in investigating, defending against or prosecuting any litigation, claim or proceeding) which may at any time be imposed upon, incurred by or asserted or awarded against the Administrative Agent, any Lender or any Issuer or any of such Person’s Affiliates, shareholders, directors, officers, employees, and agents in connection with or arising from:

  • Phase I Environmental Report means a report by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has a reasonable amount of experience conducting such assessments.

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Environmental Defect Value means, with respect to any Environmental Defect, the value, as of the Closing Date, of the estimated costs and expenses to correct such Environmental Defect in the most cost-effective manner reasonably available, consistent with Environmental Laws, taking into account that non-permanent remedies (such as mechanisms to contain or stabilize hazardous materials, including monitoring site conditions, natural attenuation, risk-based corrective action, institutional controls or other appropriate restrictions on the use of property, caps, dikes, encapsulation, leachate collection systems, etc.) may be the most cost-effective manner reasonably available.

  • Environmental Review means the Federal

  • Adverse Environmental Condition means (i) the existence or the continuation of the existence, of an Environmental Contamination (including, without limitation, a sudden or non-sudden accidental or non-accidental Environmental Contamination), of, or exposure to, any substance, chemical, material, pollutant, Hazardous Substance, odor or audible noise or other release or emission in, into or onto the environment (including without limitation, the air, ground, water or any surface) at, in, by, from or related to any Equipment, (ii) the environmental aspect of the transportation, storage, treatment or disposal of materials in connection with the operation of any Equipment, or (iii) the violation, or alleged violation, of any Environmental Law, permits or licenses of, by or from any governmental authority, agency or court relating to environmental matters connected with any of the Equipment.

  • Pre-Closing Environmental Liabilities means (i) any violation of Environmental Law arising in connection with the ownership or operation of the Properties prior to the Effective Time, (ii) any Release of Hazardous Substances onto or from the Properties prior to the Effective Time or relating to or arising from any activities conducted on such properties or from operation of such assets prior to the Effective Time and (iii) any claim, action, cause of action, inquiry, investigation, remediation, removal or restoration with respect to the matters set forth in subsection (i) or (ii) above

  • Environmental Liabilities means all Liabilities relating to, arising out of or resulting from any Hazardous Materials, Environmental Law or contract or agreement relating to environmental, health or safety matters (including all removal, remediation or cleanup costs, investigatory costs, response costs, natural resources damages, property damages, personal injury damages, costs of compliance with any product take back requirements or with any settlement, judgment or other determination of Liability and indemnity, contribution or similar obligations) and all costs and expenses, interest, fines, penalties or other monetary sanctions in connection therewith.

  • Environmental Report The environmental audit report or reports with respect to each Mortgaged Property delivered to the related Mortgage Loan Seller in connection with the origination or acquisition of the related Mortgage Loan.

  • Environmental Liabilities and Costs means all liabilities, monetary obligations, Remedial Actions, losses, damages, punitive damages, consequential damages, treble damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Environmental Requirements means any legal requirement relating to health, safety or the environment and applicable to the Borrower, any Subsidiary or the Properties, including but not limited to any such requirement under CERCLA or similar state legislation and all federal, state and local laws, ordinances, regulations, orders, writs, decrees and common law.

  • Environmental Violation means, with respect to the Property, any activity, occurrence or condition that violates or results in non-compliance with any Environmental Law.

  • Environmental Harm means serious or material environmental harm or environmental nuisance as defined in the Environmental Protection Xxx 0000 (Qld);

  • Material Environmental Amount an amount payable by the Borrower and/or its Subsidiaries in excess of $5,000,000 for remedial costs, compliance costs, compensatory damages, punitive damages, fines, penalties or any combination thereof.

  • Remediation Costs means the cost of any action taken to reduce the concentration of contaminants on, in or under the Eligible Property to permit a record of site condition to be filed in the Environmental Site Registry under section 168.4 of the Environmental Protection Act and the cost of complying with any certificate of property use issued under section 168.6 of the Environmental Protection Act, as further specified in the CIP.

  • Environmental Damages means all claims, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and expenses of investigation and defense of any claim, including, without limitation, attorney’s fees, that are incurred at any time as a result of the existence of Environmental Conditions upon, about or beneath the Project Site or migrating or threatening to migrate to or from the Site, and including, without limitation:

  • Environmental Release means the spilling, leaking, pumping, pouring, emitting, releasing, emptying, discharging, injecting, escaping, leaching, dumping, leaving, discarding or disposing of any Contaminant into or upon the Environment.

  • Environmental Action means any action, suit, demand, demand letter, claim, notice of non-compliance or violation, notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any Environmental Law, any Environmental Permit or Hazardous Material or arising from alleged injury or threat to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or regulatory authority or third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief.

  • Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.

  • Covered Environmental Losses means all environmental losses, damages, liabilities, claims, demands, causes of action, judgments, settlements, fines, penalties, costs and expenses (including, without limitation, costs and expenses of any Environmental Activity, court costs and reasonable attorney’s and experts’ fees) of any and every kind or character, by reason of or arising out of:

  • Assumed Environmental Liabilities has the meaning specified in Section 7.4.