ISRA Compliance definition

ISRA Compliance is defined in Section 5.4 of the Agreement.
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ISRA Compliance as used herein shall mean that Seller shall have received (i) a Response Action Outcome (“RXX”) from a Licensed Site Remediation Professional (“LSRP”) or an NFA from the DEP, approving Seller’s negative declaration; (ii) a RXX from an LSRP or NFA letter from the DEP approving the Remedial Action Report or similar report setting forth the remedial action undertaken to implement the approved ISRA Remedial Action Workplan, but subject to satisfying any initial Remedial Action (“RA”) permit requirements arising post-RXX or post-NFA from the approved RAWP (but not any Remedial Action permit requirements after securing the RA permit and undertaking any initial requirements in connection therewith); or (iii) a De Minimis Quantity Exemption, subject to and in accordance with applicable ISRA regulations. For purposes of this Section 6(k), the term “Hazardous Substances” shall have the same meaning as defined in ISRA. After Closing, Buyer shall not take any action, including without limitation any construction activity, which materially interferes with or prohibits the achievement of ISRA Compliance or UST Case Closure without Seller’s approval. Subject to Buyer’s right to review in advance and comment upon Seller’s proposed remediation workplan(s), Buyer agrees to allow Seller to use any method available at law to achieve ISRA Compliance and UST Case Closure, including, without limitation, engineering controls or institutional controls as defined in N.J.S.A. 58:10B-1, classification exception areas, or well restriction areas, provided such engineering controls, institutional controls, classification exception areas and well restriction areas do not adversely impact Buyer’s full use of the Real Property as used on the date of this Agreement. Buyer agrees to execute any document necessary or helpful in the effort to achieve the goals of this Section 6(k), whether before or after Closing. Once Seller has achieved ISRA Compliance and UST Case Closure, Buyer shall be responsible, at its sole cost and expense, for complying with any and all further requirements of Environmental Laws, including without limitation any monitoring, reporting or other conditions of the ISRA Compliance, subject to the provisions of subsection 6(k)(vi) below concerning funding sources for such monitoring, reporting and conditions of ISRA Compliance and UST Case Closure. Notwithstanding the foregoing, compliance with any additional remediation requirements arising from a DEP audit undertaken pur...
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ISRA Compliance has the meaning set forth in 0 below.
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Examples of ISRA Compliance in a sentence

  • The representations and warranties of the Seller and Buyer shall terminate at closing, except that the representations and warranties of the Seller set forth in Section 4(m) hereof shall survive for a period ending on the later of (x) fifteen (15) months from the Closing Date; (y) Seller’s receipt of ISRA Compliance or (z) Seller’s receipt of the UST Case Closure (the “Survival Period”).

  • The Company will keep Parent apprised and informed of the ISRA Compliance progress and provide regular updates to Parent (or more frequent updates if so requested by Parent), including providing drafts of submissions to the NJDEP for review by Parent prior to submission to the NJDEP.

  • At Closing, a portion of the Purchase Price equal to TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00), together with the accrued interest on such portion, shall be placed in escrow with the Escrow Agent out of the Deposit pursuant to the Escrow Agreement, which amount shall be held in escrow (the “Environmental Escrow”) as prescribed in Paragraph 3 of the Escrow Agreement, until three (3) years from the date both ISRA Compliance and UST Case Closure are achieved.

  • If applicable, the Company will establish the necessary Remediation Funding Source in connection with the ISRA Compliance.

  • In the event that Buyer is unable to deliver to Seller, prior to the Closing Date, evidence of ISRA Compliance in one of the forms described in clauses (a) through (d) herein, Buyer may adjourn the Closing Date for a reasonable period of time sufficient to permit Vivus, Inc.

  • If Seller shall be unable to obtain Evidence of ISRA Compliance with respect to any property comprising the Premises (such failure being referred to herein as an "ISRA Defect"), then the Closing Date shall be postponed (for a period not to exceed sixty (60) days) until such time as such ISRA Defect no longer exists.

  • If Seller shall be unable to obtain Evidence of ISRA Compliance with respect to each of the properties comprising the Premises such that an ISRA Defect shall no longer exist prior to the termination of such sixty (60) day period, each of Seller and Buyer shall have the right to terminate this Agreement, provided, however, either party may upon written notice extend such sixty (60) day period for an additional thirty (30) days.

  • Any portion of the Environmental Escrow not used for the purposes described in this Section 11(c) and any interest earned thereon shall be distributed to Seller in accordance with the terms of the Escrow Agreement upon expiration of the three (3) year period during which a DEP RXX Audit may by law occur following ISRA Compliance and UST Case Closure.

  • At such time as Seller shall obtain Evidence of ISRA Compliance with respect to each of the properties comprising the Premises, such that no ISRA Defect exists prior to the termination of such sixty (60) day period, the parties shall promptly proceed with the Closing.

  • In connection with the Company’s obligation to keep Parent informed of the ISRA Compliance progress, at times mutually convenient for Parent, the Company and the Licensed Site Remediation Professional prior to the consummation of the Transactions, the Company will make available to Parent and its Representatives, with participation by Company Representatives, the Licensed Site Remediation Professional retained by the Company in connection with the ISRA Compliance.


More Definitions of ISRA Compliance

ISRA Compliance as used herein shall mean that CTI shall have received (a) a no further action letter from the DEP approving CTI's negative declaration; or (b) a no further action letter from the DEP approving the implementation of the ISRA remedial action workplan (either (a) or (b) the "No Further Action Letter"). After Closing, SYRIX shall not unreasonably interfere with or prohibit the achievement of ISRA Compliance.
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ISRA Compliance means obtaining a no further action letter from the NJDEP or a response action outcome statement from a Licensed Site Remediation Professional, approving the Selling Companies’ negative declaration or ISRA Remedial Action Workplan implementation with respect to Hazardous Substances Released on, at, under or from the Owned Real Property prior to the Closing. The Real Property Purchaser and the Selling Companies agree that ISRA Compliance shall be obtained to standards applicable to non-residential properties which may be subject to “engineering controls” or “institutional controls,” as those terms are defined under applicable Environmental Laws, and the Real Property Purchaser agrees to reasonably cooperate with that approach at no cost to the Purchasers (other than internal overhead or legal expenses or consulting expenses or similar expenses to review the Selling Companies’ compliance) including by assuring written consent as may be required from the Real Property Purchaser to effectuate that approach. Notwithstanding anything contained herein, Purchasers acknowledge that the Selling Companies may record a remediation agreement in the title record for the Owned Real Property to the extent required pursuant to Environmental Laws including ISRA, and the Real Property Purchaser shall cooperate with such requirement including by signing any consent required therefore.
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ISRA Compliance as used herein shall mean a no further action letter from the NJDEP approving the Company’s negative declaration or the Company’s implementation of a remedial action workplan. The Indemnifying Party shall not be liable for any Losses in connection with this Section 6.5 arising directly or indirectly from Hazardous Substances released after the Closing Date; provided, however, that continued migration of Hazardous Substances released prior to the Closing Date shall not be considered a “release after the Closing Date.”
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ISRA Compliance as used herein shall mean that Seller shall have received (i) a No Further Action Letter from the NJDEP approving Seller's negative declaration; or (ii) a No Further Action letter from the NJDEP approving the implementation of the Remedial Action Workplan. After Closing, Purchaser shall not take any action, including without limitation any construction activity, which materially interferes with or prohibits the achievement of ISRA Compliance. Purchaser agrees that Seller may complete ISRA remedial requirements at the Property to any level acceptable to the New Jersey Department of Environmental Protection ("NJDEP") and the Purchaser agrees to the imposition of Institutional and Engineering controls and Classification Exception Areas as part of Seller's efforts to satisfy remedial requirements with respect to the Property so long as same do not preclude use of the Property for purposes of warehousing, packaging and assembly.
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ISRA Compliance means compliance with the requirements of ISRA.
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Related to ISRA Compliance

  • LEGAL COMPLIANCE This Agreement and any transaction with, or payment to, you pursuant to the terms hereof is conditioned on your representation to us that, as of the date of this Agreement you are, and at all times during its effectiveness you will be, a bank as defined in Section 3(a)(6) of the Securities Exchange Act of 1934 (or other financial institution) and not otherwise required to register as a broker or dealer under such Act. You agree to notify us promptly in writing if this representation ceases to be true. You also agree that, regardless of whether you are a member of the NASD, you will comply with the rules of the NASD, including, in particular, Sections 2310, IM 2310-2, and 2830 of the NASD Conduct Rules, and that you will maintain adequate records with respect to your customers and their transactions, and that such transactions will be without recourse against you by your customers. We recognize that, in addition to applicable provisions of state and federal securities laws, you may be subject to the provisions of the Xxxxx-Xxxxxxxx Act and other laws governing, among other things, the conduct of activities by federal and state chartered and supervised financial institutions and their affiliated organizations. As such, you may be restricted in the activities that you may undertake and for which you may be paid, and, therefore, we recognize that you will not perform activities that are inconsistent with your statutory and regulatory obligations. Because you will be the only one having a direct relationship with the customer, you will be responsible in that relationship for insuring compliance with all laws and regulations, including those of all applicable federal and state regulatory authorities and bodies having jurisdiction over you or your customers to the extent applicable to securities purchases hereunder.

  • HIPAA Compliant means that a Loan Party to the extent legally required (i) is or will use commercially reasonable efforts to be in compliance in all material respects with each of the applicable requirements of the so-called “Administrative Simplification” provisions of HIPAA on and as of each date that any part thereof, or any final rule or regulation thereunder, becomes effective in accordance with its or their terms, as the case may be (each such date, a “HIPAA Compliance Date”) and (ii) is not and could not reasonably be expected to become, as of any date following any such HIPAA Compliance Date, the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could result in any of the foregoing or that has or could reasonably be expected to have a Material Adverse Effect.

  • Environmental Compliance means action performed during or after Operations to comply with the requirements of all Environmental Laws or contractual commitments related to reclamation of the Properties or other compliance with Environmental Laws.

  • Non-Compliance means failure/refusal to comply the terms and conditions of the tender;

  • Year 2000 Compliance has the meaning set forth in section 17.29 of the Management Agreement.

  • Assessment of Compliance As defined in Section 3.21.

  • Export Compliance You acknowledge that Licensor’s products and/or technology are subject to the U.S. Export Administration Regulations (the “EAR”) and You agree to comply with the EAR. You will not export or re-export Licensor’s products, directly or indirectly, to: (1) any countries that are subject to US export restrictions; (2) any end user who You know or have reason to know will utilize Licensor’s products in the design, development or production of nuclear, chemical or biological weapons, or rocket systems, space launch vehicles, and sounding rockets, or unmanned air vehicle systems, except as authorized by the relevant government agency by regulation or specific license; or (3) any end user who has been prohibited from participating in the US export transactions by any federal agency of the US government. By downloading or using the Software, You are agreeing to the foregoing and You are representing and warranting that You are not located in, under the control of, or a national or resident of any such country or on any such list. In addition, You are responsible for complying with any local laws in Your jurisdiction which may impact Your right to import, export or use Licensor’s products. Please consult the Bureau of Industry and Security web page xxx.xxx.xxx.xxx before exporting items subject to the EAR. For more information on exporting Software, including the applicable Export Control Classification Number (ECCN) and associated license exception (as applicable), see xxx.xxxx.xxx/xxxxxxx/xxxxx/. Upon request, Licensor's International Trade Services Department can provide information regarding applicable export restrictions for Licensor products. Licensor assumes no responsibility for Your failure to obtain any necessary export approvals. U.S. Government Restricted Rights. Use, duplication, or disclosure of any Deliverables by the U.S. Government is subject to the restrictions in FAR 52.227-14 (Dec 2007) Alternate III (Dec 2007), FAR 52.227-19 (Dec 2007), or DFARS 252.227-7013(b)(3) (Nov 1995), or applicable successor clauses.

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Public Company Compliance means compliance with the requirements of the Xxxxxxxx-Xxxxx Act of 2002 and the rules and regulations promulgated in connection therewith, the provisions of the Securities Act and the Exchange Act, and the rules of national securities exchange listed companies (in each case, as applicable to companies with equity or debt securities held by the public), including procuring directors’ and officers’ insurance, legal and other professional fees, and listing fees.

  • Compliance means your local Compliance group (New York, London, Singapore, Tokyo and Mumbai).

  • Document of Compliance has the meaning given to it in the ISM Code.

  • Annual Statement of Compliance As defined in Section 3.13.

  • Environmental, Health and Safety Laws means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Resource Conservation and Recovery Act of 1976, and the Occupational Safety and Health Act of 1970, each as amended, together with all other laws (including rules, regulations, codes, plans, injunctions, judgments, orders, decrees, rulings, and charges thereunder) of federal, state, local, and foreign governments (and all agencies thereof) concerning pollution or protection of the environment, public health and safety, or employee health and safety, including laws relating to emissions, discharges, releases, or threatened releases of pollutants, contaminants, or chemical, industrial, hazardous, or toxic materials or wastes into ambient air, surface water, ground water, or lands or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport, or handling of pollutants, contaminants, or chemical, industrial, hazardous, or toxic materials or wastes.

  • Environmental, Health, and Safety Requirements means all federal, state, local and foreign statutes, regulations, and ordinances concerning public health and safety, worker health and safety, and pollution or protection of the environment, including without limitation all those relating to the presence, use, production, generation, handling, transportation, treatment, storage, disposal, distribution, labeling, testing, processing, discharge, release, threatened release, control, or cleanup of any hazardous materials, substances or wastes, as such requirements are enacted and in effect on or prior to the Closing Date.

  • Statement of Compliance means the statement forming part of a Tender indicating the Bidders compliance with the Specification.

  • Environmental and Safety Requirements means all federal, state, local and foreign statutes, regulations, ordinances, codes and other provisions having the force and effect of law, all judicial and administrative orders and determinations, all contractual obligations and all common law concerning public health and safety, worker health and safety, and pollution or protection of the environment, including all those relating to the presence, use, production, generation, handling, transportation, treatment, storage, disposal, distribution, labeling, testing, processing, discharge, release, threatened release, control or cleanup of, or exposure to, any hazardous materials, substances or wastes, chemical substances or mixtures, pesticides, pollutants, contaminants, toxic chemicals, petroleum products or byproducts, asbestos, polychlorinated biphenyls, noise or radiation, as previously, now or hereafter in effect.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • Environmental and Social Standards or “ESSs” means, collectively:

  • Environmental and Safety Laws means any federal, state or local laws, ordinances, codes, regulations, rules, policies and orders that are intended to assure the protection of the environment, or that classify, regulate, call for the remediation of, require reporting with respect to, or list or define air, water, groundwater, solid waste, hazardous or toxic substances, materials, wastes, pollutants or contaminants, or which are intended to assure the safety of employees, workers or other persons, including the public.