Phase I Environmental Report means a report by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has a reasonable amount of experience conducting such assessments.

Phase I Environmental Report means a report prepared for a real estate holding which identifies potential or existing environmental contamination liabilities.

Phase I Environmental Report means the existing phase I environmental assessment report prepared by URS Canada Inc. dated November, 2004.

Examples of Phase I Environmental Report in a sentence

A copy of any Phase I Environmental Report on the Property, if available in Seller's possession.
The PILOT Recipient must submit Phase I Environmental Report (“Environmental Report”) with no recognized environmental conditions, for any real property being included in a Lease Agreement, unless waived by the EDGE Board, dated no more than three (3) months prior to the first Lease Agreement closing on developed real property or six (6) months prior to the first Lease Agreement closing on undeveloped real property.
Environmental Conditions The Phase I Environmental Report is dated more than 12 months from the scheduled Closing Date of September 2006.
Applicant must obtain an updated Phase I Environmental Report for the Project.
In the event that there is suggestion of any environmental problem on, at or adjacent to the Collateral, including any unremedied environmental condition set forth in the Phase I Environmental Report, Administrative Agent may, at its option, require evidence of the nature of the problem at the Borrower’s expense.

More Definitions of Phase I Environmental Report

Phase I Environmental Report. A report similar in form and substance to a "phase I" report, as described in, and meeting the criteria of, (i) Chapter 5 of the Federal National Mortgage Association 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.

Phase I Environmental Report means a report prepared at the expense of the Person desiring to contribute such property, by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has had not less than five years experience in such matters which indicates whether such property is in compliance with applicable Environmental Laws and whether there are any circumstances present at such property relating to the use, management or disposal of any hazardous substances, hazardous materials, hazardous wastes or petroleum based materials for which investigation, testing, monitoring, containment, clean up or remediation could be required under any Federal, state or local law or regulation.

Phase I Environmental Report and “Phase I Environmental Reports” shall have the meaning set forth in Section 7.2.1.

Phase I Environmental Report means that certain Environmental Report dated October ____, 2000 prepared in connection with the Project.

Phase I Environmental Report means the Phase I Environmental Site Assessment relating to 0000 Xxxxxxxxx Xxxxxx & 000 Xxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx dated May 2016 prepared by Envirovision Inc.

Phase I Environmental Report. As defined in Section 11.3.