Phase I Environmental Audit definition
Phase I Environmental Audit means an evaluation of real property for purposes of environmental analysis performed solely on the basis of historical records without invasive sampling or drillings from such property.
Phase I Environmental Audit means a report prepared by an Environmental Consultant in accordance with the requirements of standard Z768-01, “Phase I Environmental Site Assessment”, published by the Canadian Standards Association, as amended, at the date of the Phase I Environmental Audit;
Phase I Environmental Audit means a phase-I environmental audit for certain Subprojects to be carried out by a Participating Entity according to the procedures specified in the Environmental Framework;
Examples of Phase I Environmental Audit in a sentence
If the Phase I Environmental Audit recommends a Phase II Environmental Audit, then the Inspection Period will be automatically extended if necessary until the fifth (5th) business day after Buyer receives the written Phase II Environmental Audit.
Purchaser shall, at its sole cost ------------------- and expense, have obtained an ASTM Phase I Environmental Audit or Assessment, produced by a qualified engineer selected by Purchaser, respecting the items described in Section 2.25 hereof (the "Phase I Report") which shall be ------------ acceptable and satisfactory to Purchaser in all respects.
Lender shall have received a Phase I Environmental Audit of the Property from a consultant acceptable to Lender in its sole discretion.
At closing, the Purchaser shall pay the costs of recording the warranty deed, attorneys' fees incurred on behalf of the Purchaser, and any Phase I Environmental Audit and other inspection costs initiated by the Purchaser.
If the Phase I Environmental Audit is not reasonably satisfactory to Buyer, Buyer shall immediately advise Seller in writing.
More Definitions of Phase I Environmental Audit
Phase I Environmental Audit means an assessment of Seller's compliance with Environmental Laws relative to the Assets consisting of examination of Seller's files and public documents, interviews of personnel of Seller and of other appropriate persons and visual inspection of the Assets.
Phase I Environmental Audit means a review consistent with custom and practice in the industry in the United States (with respect to acquisitions) for such Phase I audits for the purposes of determining whether the Company complies with Environmental Law and whether there exists any condition or circumstance with respect to the headquarters or distribution center of the Company which requires or will require cleanup, removal or other remedial action under Environmental Law on the part of the Company. Such audit may include some or all of the following, as determined by the reasonable professional judgment of the person retained by Buyer to perform such Phase I Environmental Audit:
Phase I Environmental Audit means an assessment of Seller's compliance with Environmental Laws relative to the Purchased Assets consisting of examination of Seller's files and public documents, interviews of personnel of Seller and of other appropriate persons visual inspection of the Purchased Assets and NORM surveys.
Phase I Environmental Audit means an investigation of real
Phase I Environmental Audit means an inspection, investigation and audit of the Properties Owned with respect to all Environmental Laws and Environmental Action Items which shall include a view of the Properties Owned, inquiry into present and past uses of the Properties Owned to the extent necessary to enable Buyer to avail itself of the so-called "Innocent Purchaser" defense contained in Section 101(35) of the Comprehensive Environmental Response, Compensation and Liability Act, review of records of the United States Environmental Protection Agency and applicable state or local environmental protection agencies, field observations, review of applicable air and water discharge permits, solid and hazardous waste disposal permits, if any, the status thereof and all requirements associated therewith, and such additional investigations (without physical sampling or analysis) as Buyer and the applicable environmental engineer or consultant shall determine are appropriate; provided, however, that at a minimum, the Phase I Environmental Audit shall be conducted in accordance with the 1993 ASTM standard promulgated therefor.
Phase I Environmental Audit means a visual and documentary assessment of (a) Environmental Matters pertaining to any of the Companies and the Subsidiary, (b) the Company Property, and (c) compliance with Environmental Laws by the Companies and the Subsidiary. The Phase I Environmental Audit may include, without limitation, examination of the Companies' and the Subsidiary's files and public documents, interviews of personnel of the Companies and the Subsidiary and of other appropriate persons, visual inspection of Company Property and other properties (subject to restrictions on access), and review of NORM and asbestos surveys known to the Companies and the Subsidiary, but shall not include invasive sampling or testing.
Phase I Environmental Audit. (as defined in the Illinois Environmental Protection Act) certified to Borrower and Lender and setting forth an asbestos evaluation and other environmental investigations of the Property and the areas surrounding the Property. Such testing and investigation shall be performed by an "environmental professional" (as defined in the Illinois Environmental Protection Act) acceptable to Lender in a manner satisfactory to Lender.