NFA Status definition

NFA Status means either: (a) a written determination or comparable written statement received (including by a posting on its website) from a Governmental Entity or licensed remediation/environmental professional with authority over such matter that no further Remediation Activities are required to meet applicable clean-up standards based on the commercial or industrial use of the applicable Station Property on the Closing Date under Environmental Laws; or (b) when all Remediation Activities have been completed to meet applicable clean-up standards based on the commercial or industrial use of the applicable Station Property on the Closing Date under Environmental Laws if such Environmental Laws do not provide for a mechanism to receive such a written determination; provided that with respect to any Leased Real Property, the Remediation Activities must also meet applicable clean-up standards required by the Real Property Lease for such Leased Real Property.
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NFA Status means either: (a) a Closure Letter has obtained for a Corrective Action or (b) when all necessary or appropriate Corrective Action has been completed under applicable Environmental Laws and the Responsible Government Agency has delayed or refused to provide such a Closure Letter within a period of three (3) years after completion of Corrective Action, but only when such completion has been confirmed by a written report obtained from the Environmental Arbiter (the cost of which will be paid by Seller).
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NFA Status has the meaning ascribed thereto in Section 8.8.
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Examples of NFA Status in a sentence

  • Buyer-Related Parties acknowledge that Corrective Action that results in NFA Status may allow for the continued presence of Hazardous Substances on, under or emanating to or from a Property.

  • Notwithstanding the foregoing, Sellers shall use commercially reasonable efforts to achieve NFA Status in a manner that minimizes the need for Engineering and Institutional Controls and Sellers shall maintain compliance with all Engineering and Institutional Controls, including consent orders, administrative orders and similar documents; provided that Buyers shall maintain, at Buyers’ cost and expense, already existing grass caps and impervious barriers such as concrete or asphalt.

  • Section 6.2.1 of the Disclosure Schedule identifies each Real Property at which Ongoing Corrective Action is being performed by the Company or Seller on behalf of the Company as of the Effective Date and sets forth the estimated remaining future cost, as of the Effective Date, to achieve NFA Status (“Ongoing Corrective Action Cost Estimates”).

  • For a period of five (5) years after the Closing Date, and thereafter for so long as Seller-Related Parties are performing Corrective Action until NFA Status is obtained, the Buyer-Related Parties shall be responsible to immediately notify Seller in writing of any Release that occurs at a Property, and, upon Seller’s request, provide copies to Seller of all UST System records, Corrective Action materials, and other documents relating to the Properties.

  • From and after Closing, with respect to any Pre-Closing Environmental Liabilities, Sellers shall conduct, at their sole cost and expense, any Remediation Activities required under Environmental Law or as directed by the appropriate Governmental Entity, until such time as Sellers’ obtain NFA Status.

  • By way of example only, Seller shall have no liability or obligation, including without limitation, any indemnity obligation pertaining to any third party claim, relating to any Release after NFA Status has been obtained for such Release.

  • Buyer-Related Parties shall cooperate with Seller in obtaining NFA Status, including implementing any Engineering and Institutional Controls to obtain NFA Status and coordinating with any applicable Responsible Government Agency to execute, file and record any deed notice, restriction or similar restrictive covenant in the County recorder’s records for a Property, to the extent such deed notice, restriction or restrictive covenant is proposed by Seller.

  • Seller shall be permitted to utilize any reasonable method or approach to pursue and obtain NFA Status, including, natural attenuation and Engineering and Institutional Controls.

  • With respect to any particular Release for which the Seller is responsible pursuant to this Agreement, Seller’s obligation under this Section 6.4.1 and Section 8.1 shall terminate upon the securing of NFA Status.

  • Buyer-Related Parties acknowledge that acceptable Corrective Action by Seller that results in obtaining NFA Status may allow for the continued presence of Hazardous Substances on, under or emanating to or from a Property.


More Definitions of NFA Status

NFA Status means either: (A) a written determination or comparable written statement received (including by a posting on its website) from a governmental entity or licensed remediation/environmental professional with authority over such matter that no further Remediation is required to meet applicable clean-up standards based on the commercial or industrial use of the applicable Property on the Closing Date under Environmental Laws, or (B) when all Remediation has been completed to meet applicable clean-up standards based on the use of the applicable Property as a convenience store (with retail fuel operations in the case of the Fuel Stores) under Environmental Laws if such Environmental Laws do not provide for a mechanism to receive such a written determination; provided, that with respect to any Leased Property, the Remediation must also meet applicable clean-up standards required by the Store Lease for such Leased Property.
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NFA Status means either: (a) a written determination or comparable written statement received from a Governmental Entity (including without limitation a posting on such Governmental Entity’s website) that no further Remediation Activities are required to meet applicable clean-up standards based on the commercial or industrial use of the applicable Station Property on the date of the Agreement under applicable Environmental Laws; or (b) when all necessary Remediation Activities have been completed to meet applicable clean-up standards based on the commercial or industrial use of the applicable Station Property on the date of the Agreement under applicable Environmental Laws, so long as the insurance carrier that has issued the Environmental Insurance Policy determines that coverage under the Environmental Insurance Policy is restored as to the applicable Station Property. It is expressly understood that “NFA Status” shall include no further action determinations subject to Engineering and Institutional Controls that comply in all respects with applicable Environmental Laws.
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Related to NFA Status

  • B-BBEE status level of contributor” means the B-BBEE status of an entity in terms of a code of good practice on black economic empowerment, issued in terms of section 9(1) of the Broad- Based Black Economic Empowerment Act;

  • refugee status means the recognition by a Member State of a third-country national or a stateless person as a refugee;

  • Active status means (i) for employees, the absence of any interruption or termination of service as an employee, (ii) for Directors, that the Director has not been removed from the Board for cause (as determined by the Company’s shareholders), and (iii) for Consultants, the absence of any interruption, expiration, or termination of such person’s consulting or advisory relationship with the Company or any Subsidiary or the occurrence of any termination event as set forth in such person’s Award Agreement. Active Status shall not be considered interrupted (A) for an employee in the case of sick leave, maternity leave, infant care leave, medical emergency leave, military leave, or any other leave of absence properly taken in accordance with the policies of the Company or any applicable Subsidiary as may be in effect from time to time, and (B) for a Consultant, in the case of any temporary interruption in such person’s availability to provide services to the Company or any Subsidiary which has been granted in writing by an authorized officer of the Company. Whenever a mandatory severance period applies under applicable law with respect to a termination of service as an employee, Active Status shall be considered terminated upon such Employee’s receipt of notice of termination in whatever form prescribed by applicable law.

  • marital status means being single, married as recognized by the state of Connecticut, widowed, separated or divorced;

  • Familial status means the condition of one or more minors being domiciled with:

  • Level VI Status exists at any date if, on such date, the Borrower has not qualified for Level I Status, Level II Status, Level III Status, Level IV Status or Level V Status.

  • Level V Status exists at any date if, on such date, the Borrower has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status.

  • Inactive status means the status of a practitioner licensed or registered pursuant to Iowa Code chapter 153 who is not currently engaged in the practice of dentistry, dental hygiene, or dental assisting in the state of Iowa and who has paid the required renewal fee but who has not met the requirements for continuing education.

  • Tax-Free Status means the qualification of a Distribution or any other transaction contemplated by the IRS Ruling or any Tax Opinion as a transaction in which gain or loss is not recognized, in whole or in part, and no amount is included in income, including by reason of Distribution Taxes, for U.S. federal, state, and local income tax purposes (other than intercompany items, excess loss accounts or other items required to be taken into account pursuant to Treasury Regulations promulgated under Section 1502 of the Code).

  • Level I Status exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is less than 1.00 to 1.00.

  • Change in Status means any of the events described below, as well as any other events included under subsequent changes to Code section 125 or regulations issued thereunder, which the Plan Administrator, in its sole discretion and on a uniform and consistent basis, determines are permitted under IRS regulations and under this Plan:

  • Level III Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status or Level II Status and (ii) the Borrower's Xxxxx'x Rating is Baa2 or better or the Borrower's S&P Rating is BBB or better.

  • Travel status with respect to an employee means absence of the employee from his/her headquarters or geographic location on Justice Institute of British Columbia business with the approval of the Employer, but travel status does not apply to employees temporarily assigned to a position outside of his/her headquarters or geographic location or to field status employees;

  • Level IV Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status, Level II Status or Level III Status and (ii) the Borrower's Xxxxx'x Rating is Baa3 or better or the Borrower's S&P Rating is BBB- or better.

  • Level II Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status and (ii) the Borrower's Xxxxx'x Rating is Baa1 or better or the Borrower's S&P Rating is BBB+ or better.

  • Deemed status means acceptance of certification or licensure of a program or service by another certifying body in place of certification based on review and evaluation.

  • Corporate Status describes the status of a person who is or was a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was serving at the request of the Company.

  • REIT Status means, with respect to any Person, (a) the qualification of such Person as a real estate investment trust under the provisions of Sections 856 et seq. of the Code and (b) the applicability to such Person and its shareholders of the method of taxation provided for in Sections 857 et seq. of the Code.

  • Full Capacity Deliverability Status or “FCDS” has the meaning set forth in the CAISO Tariff.

  • Status means Level I Status, Level II Status, Level III Status, Level IV Status, Level V Status or Level VI Status.

  • Permanent status means the state or condition achieved by an employee in the classified service who has successfully completed an initial probationary period or a probationary period required following reinstatement, or whose probationary period is waived through specific statutory direction.

  • Individual Resource Status Single Dwelling Contributing Total: 1

  • proof of B-BBEE status level of contributor means:B-BBEE Status level certificate issued by an authorized body or person;A sworn affidavit as prescribed by the B-BBEE Codes of Good Practice;Any other requirement prescribed in terms of the B-BBEE Act;

  • Health status-related factor means any of the following factors:

  • Potential Enrollee means a Medical Assistance Recipient who may voluntarily elect to enroll in a given managed care program, but is not yet an Enrollee of an MCO.

  • Specific learning disability (SLD) means a heterogeneous group of conditions wherein there is a deficit in processing language, spoken or written, that may manifest itself as a difficulty to comprehend, speak, read, write, spell, or to do mathematical calculations and includes such conditions as perceptual disabilities, dyslexia, dysgraphia, dyscalculia, dyspraxia and developmental aphasia.