Phase I Environmental Assessment definition

Phase I Environmental Assessment. A “Phase I assessment” as described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.

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Phase I Environmental Assessment. A "Phase I assessment" as described in and meeting the criteria of Chapter 5 of the FNMA Multifamily Guide, as amended from time to time.

Phase I Environmental Assessment. A "Phase I environmental assessment" as described in and meeting the criteria of the American Society of Testing Materials Standard E 1527- 94 or any successor thereto published by the American Society of Testing Materials.

Examples of Phase I Environmental Assessment in a sentence

• Notwithstanding anything herein to the contrary, for anything other than a Phase I Environmental Assessment, ▇▇▇▇▇ must obtain Seller’s prior written consent (which consent may be withheld in Seller’s sole discretion) and any third-Person operator’s consent as to the scope of any proposed environmental assessment, including testing protocols.

• Prior to Closing, ▇▇▇▇▇ will have the right to conduct a Phase I Environmental Assessment of the Property, subject to the terms set forth in Section 5.2 and this Section 5.3. The Phase I Environmental Assessment may be conducted by Buyer or by ▇▇▇▇▇’s agent or representative, such agent or representative to be mutually acceptable to Seller and Buyer (the “Inspector”).

• Seller may have a representative present at all times during ▇▇▇▇▇’s inspections of the Property, including during any Phase I Environmental Assessment conducted by or on behalf of Buyer.

• A Phase I Environmental Assessment shall not include, and Buyer shall not conduct, or cause to be conducted, during any inspection of the Property, any soil or groundwater sampling, surface testing, boring, drilling or subsurface testing of any kind.

More Definitions of Phase I Environmental Assessment

Phase I Environmental Assessment. A "Phase I assessment" or, in the case of certain Mortgage Loans having an initial principal balance under $1,000,000, a transaction screen, as described in, and meeting the criteria of the American Society for Testing and Materials.

Phase I Environmental Assessment shall have the meaning set forth in Section 6.1(c).

Phase I Environmental Assessment means an environmental assessment and report prepared by a qualified environmental professional reasonably acceptable to Company that meets or exceeds the minimum requirements outlined in the then current version of the American Society of Testing and Materials Standard E 1527‑00 (Standard Practice of Environmental Site Assessments: Phase I Environmental Site Assessment Process); and (B) “Phase II Environmental Assessment” means an environmental assessment and report prepared by a qualified environmental professional reasonably acceptable to Company that goes beyond the investigations of a Phase I Environmental Assessment and involves sampling and testing of the Company-Owned Site, including (1) an asbestos survey conducted according to the standards of the Asbestos Hazard Emergency Response Act protocol; (2) testing of any transformers on the Company-Owned Site for PCBs; (3) testing for lead based paints; (4) soil and groundwater sampling to measure the effect of any actual or suspected release or discharge of Hazardous Substances on the Company-Owned Site; and (5) such other sampling and testing reasonably necessary to determine the environmental condition of the Company-Owned Site.

Phase I Environmental Assessment means an environmental assessment that is consistent with ASTM 1527-05 and that may include, at Purchaser’s election, an assessment of the presence, amount, physical condition and location of asbestos-containing materials, lead-based paint and toxic mold. For the purpose of this Section 1.10, “Phase II Environmental Assessment” means an intensified environmental assessment designed to further define previously identified conditions, circumstances or risks and that may include physical sampling and analysis of paint, building materials or any environmental medium (including air, indoor air, surface water, groundwater, soil, and subsurface strata).

Phase I Environmental Assessment means a Phase I environmental site assessment prepared in substantial conformance with ASTM 1574E-13 standards.

Phase I Environmental Assessment means a preliminary assessment of a

Phase I Environmental Assessment. A "Phase I assessment" or, in the case of certain Mortgage Loans having an initial principal balance under $1,000,000, a transaction screen, as described in, and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any successor provisions covering the same subject matter, in the case of Specially Serviced Mortgage Loans as to which the related Mortgaged Property is multifamily property or (ii) the American Society for Testing and Materials in the case of Specially Serviced Mortgage Loans as to which the related Mortgaged Property is a non-multifamily property.