Environmental Work definition

Environmental Work has the meaning set forth in Section 6.6.

Environmental Work shall have the meaning set forth in Section 8.11 hereof.

Environmental Work shall have the meaning set forth in Section 4.25 hereof.

Examples of Environmental Work in a sentence

• The funds contained in the Hazardous Materials Remediation Reserve shall be utilized by the Borrowers solely for performance of the Environmental Work in accordance with the Environmental Reports, and shall not be used by the Borrowers for purposes for which any other Reserve is established.

• Prior to the earlier of (x) the date required by any applicable Governmental Authority or (y) nine (9) months after the Closing, the Borrowers shall, subject to Force Majeure, complete such Environmental Work and shall provide to Lender such closure reports, no-further-action letters, or other evidence of compliance with law as Lender may reasonably require.

• With respect to any of the Multistate Trust Environmental Work Accounts, however, such funds may not include future oversight costs.

• Subject to the foregoing conditions, but also subject to the last paragraph of Section 11.4, the Borrowers shall be entitled to draw any remaining balance in the Hazardous Materials Remediation Reserve when all such Environmental Work is complete, and is paid for, in accordance with the terms hereof.

• In addition, the Indemnitors hereby covenant and agree to pay for and perform the Environmental Work in excess of $1,000,000.

More Definitions of Environmental Work

Environmental Work means all environmental reports and environmental statements and other documents which are necessary in order for the City Council to consider certifying the Project under CEQA and NEPA, as described in the Scope of Work.

Environmental Work has the meaning set forth in Section 10.7(b).

Environmental Work means investigation, monitoring, active remediation, passive remediation, vapor mitigation and risk assessment or other response required under applicable Environmental Laws, as directed by the Maryland Department of the Environment, including but not limited to such activities required to obtain a VCP Certificate of Completion and any other applicable Governmental Closure Document and/or comply with the terms and conditions of any such VCP Certificate of Completion and Governmental Closure Document. As used herein, “Environmental Work” also expressly includes any financial assurance requirements required to be posted with any Agency after Closing with respect to the aforesaid remediation to be conducted by Buyer. Buyer acknowledges and agrees that Seller currently has a $60,000 Letter of Credit posted with the Maryland Department of the Environment for such financial assurance, and Buyer shall replace the Seller’s Letter of Credit with alternate financial assurance as of the Closing Date and shall ensure that the aforesaid Letter of Credit is duly returned to Seller for cancellation at Closing or as soon as possible thereafter.

Environmental Work means the testing and other environmental assessment work as set forth on Schedule X hereto. “ Equipment ” shall have the meaning as set forth in the granting clause of the Mortgage.

Environmental Work means the Site Investigation and Required Remediation (as each such term is defined in the Environmental Agreement) to be performed by Imperial-Savannah pursuant to the Environmental Agreement.

Environmental Work means investigation, monitoring, active remediation, passive remediation, vapor mitigation and risk assessment or other response required under applicable Environmental Laws, as directed by the Maryland Department of the Environment or as otherwise required to obtain a Governmental Closure Document and/or comply with the terms of any such Governmental Closure Document. As used herein, “Environmental Work” also expressly includes any financial assurance requirements required to be posted with any Agency after Closing with respect to the aforesaid remediation to be conducted by Buyer. Buyer acknowledges and agrees that Seller currently has a $60,000 Letter of Credit posted with the Maryland Department of the Environment for such financial assurance, and Buyer shall replace the Seller’s Letter of Credit with alternate financial assurance as of the Closing Date and shall cause the aforesaid Letter of Credit to be duly returned to Seller for cancellation at Closing or as soon as possible thereafter. In the event that a Letter of Credit for an amount exceeding $60,000 shall be required by the Maryland Department of the Environment prior to Closing, then Buyer shall pay for the first five hundred dollars ($500.00) of the aggregate costs and fees that Buyer incurs in obtaining the new Letter of Credit, and any costs and fees exceeding $500 shall be paid by Seller as a credit against the Purchase Price, up to a maximum credit of $500, whereupon all remaining fees and costs shall be paid by the Buyer.

Environmental Work is defined in Section 7.7.