Phase I Environmental Review definition

Phase I Environmental Review means an environmental survey and assessment prepared by an independent engineer selected by the Borrower expert in the identification and Credit Agreement analysis of environmental risks (such engineer and his agents being referred to as the “Environmental Consultant”), such survey and assessment to (a) estimate current liabilities and assess potential sources of future liabilities of any owner or operator of, or any other Person having control of, the Subject Property arising under the Comprehensive Response, Compensation and Liability Act, the Superfund Amendments and Reauthorization Act of 1986, the Resource Conservation and Recovery Act, in each case as amended, and any other act or regulation of any Federal, state or local environmental authority having authority in respect of the Subject Property and (b) be based upon (i) a physical on-site inspection by the Environmental Consultant of the Subject Property (without any excavation of the Subject Property), (ii) interviews by the Environmental Consultant of individuals who have direct managerial responsibility for operations on the Subject Property, (iii) a review by the Environmental Consultant of records relating to current and historical operations conducted at the Subject Property and (iv) as deemed appropriate by the Environmental Consultant, interviews by the Environmental Consultant of individuals in the area in which the Subject Property is located who may have knowledge of current and historical operations conducted at the Subject Property.
Sample 1
Phase I Environmental Review means, with respect to any such Oil and Gas Property, an environmental survey and assessment prepared by an independent environmental consultant of recognized national standing (the "Environmental Consultant") selected by the Company, expert in the identification and analysis of environmental risks, such survey and assessment to (i) estimate current liabilities and assess potential sources of future liabilities relating to the Property under any Environmental Law and (ii) be based upon (w) a physical on- site inspection by the Environmental Consultant of such Property, (x) interviews by the Environmental Consultant of individuals who have direct managerial responsibility for operations in respect of such Property, (y) a review by the Environmental Consultant of records relating to current and historical operations conducted in respect of such Property and (z) as deemed appropriate by the Environmental Consultant, interviews by the Environmental Consultant of Federal, state and local governmental authorities, or other individuals familiar with such Property who may have knowledge of current and historical operations conducted in respect of such Property. The Company will promptly furnish to each Bank Party all Phase I Environmental Reviews of Oil and Gas Properties prepared pursuant to this Section 8.05(c).
Sample 1
Phase I Environmental Review has the meaning set forth in Section 7.12.
Sample 1

Examples of Phase I Environmental Review in a sentence

  • Seller shall have the right to have one or more representatives accompany Purchaser at all times during Purchaser’s Phase I Environmental Review, and Purchaser shall give Seller or the Companies at least forty-eight (48) hours’ notice prior to any visits by it (or any Purchaser’s Representatives) to the applicable Company Assets.

  • Purchaser shall, and shall cause Purchaser’s Representatives to, abide by the applicable operators’ implemented safety rules, regulations and operating policies of which they are informed in conducting Purchaser’s Phase I Environmental Review.

  • The Parties agree that all information discovered during Purchaser’s Phase I Environmental Review shall be governed by the terms of the Confidentiality Agreement.

  • The scope of work comprising Purchaser’s Phase I Environmental Review shall be limited to those activities permitted by the applicable operator and any contractual obligations burdening Seller or the Companies, and shall not include any sampling, testing or other invasive activities.

  • The Phase I Environmental Review shall be paid for by Seller and the Phase II Environmental Review shall be paid for by Buyer, although any and all remediation costs shall be paid for by Seller.

  • In the event that the results of the Phase I Environmental Review reasonably require further investigations, Sellers shall conduct such further site investigations as are warranted, including Phase II and Phase III Environmental Reviews (Environmental Reports).

  • Seller has delivered to Buyer a true, correct and complete copy of a Phase I Environmental Review of the Fee Property and the Refinery Facilities prepared by Fugro Environmental Services, dated May 8, 1996, as updated on April 12, 1997 by ENSR Corporation.

  • Sellers shall obtain a Phase I Environmental Review, demonstrating the right to the continued unrestricted use of the entire Real Property and shall reflect the satisfactory completion of remediation of the Real Property (including, without limitation, soil, groundwater, surface water, sediments, environmentally sensitive areas, and any other potential areas of concern and receptors.


More Definitions of Phase I Environmental Review

Phase I Environmental Review means an environmental survey and written assessment prepared by an independent consultant selected by the Borrower who is expert in the identification and analysis of environmental risks (such individual and his/her agents being referred to as the "ENVIRONMENTAL CONSULTANT"), such survey and assessment to (a) estimate current material liabilities and assess potential sources of material future liabilities of any owner or operator of, or any other Person having control of, the Subject Property arising under the Comprehensive Environmental Response, Compensation andLiability Act, the Resource Conservation and Recovery Act, in each case as amended, and any other analogous act or regulation of any Federal, state or local environmental authority having authority in respect of the Subject Property and (b) be based upon (i) a physical on-site inspection by the Environmental Consultant of the Subject Property (without any excavation of the Subject Property), (ii) interviews by the Environmental Consultant of individuals who have direct managerial responsibility for operations of the Subject Property, (iii) a review by the Environmental Consultant of available records relating to current and historical operations conducted at the Subject Property and (iv) as deemed appropriate by the Environmental Consultant, interviews by the Environmental Consultant of individuals in the area in which the Subject Property is located who may have knowledge of current and historical operations conducted at the Subject Property. The Borrower agrees to provide to any Bank a copy of such Phase I Environmental Review within 60 days of any request by such Bank therefor.
Sample 1
Phase I Environmental Review means, with ---------------------------- respect to any such Oil and Gas Property, an environmental survey and assessment prepared by an independent environmental consultant of recognized national standing (the "Environmental Consultant") selected by the Company, expert in the ------------------------ identification and analysis of environmental risks, such survey and assessment to (i) estimate current liabilities and assess potential sources of future liabilities relating to the Property under any Environmental Law and (ii) be based upon (w) a physical on-site inspection by the Environmental Consultant of such Property, (x) interviews by the Environmental Consultant of individuals who have direct managerial responsibility for operations in respect of such Property, (y) a review by the Environmental Consultant of records relating to current and historical operations conducted in respect of such Property and (z) as deemed appropriate by the Environmental Consultant, interviews by the Environmental Consultant of Federal, state and local governmental authorities, or other individuals familiar with such Property who may have knowledge of current and historical operations conducted in respect of such Property The Company will promptly furnish to each Bank Party all Phase I Environmental Reviews of Oil and Gas Properties prepared pursuant to this Section 8.05(c).
Sample 1
Phase I Environmental Review means an environmental survey and written assessment prepared by an independent engineer selected by the Company who is expert in the identification and analysis of environmental risks (such engineer and his or her agents being referred to as the "Environmental Consultant"), such survey and assessment, with respect to any Subject Property, to (a) estimate current liabilities and assess potential sources of future liabilities arising under Environmental Laws of any owner or operator of, or any other Person having control of, such Subject Property and (b) be based upon (i) a physical on-site inspection by the Environmental Consultant of such Subject Property (without any excavation of such Subject Property), (ii) interviews by the Environmental Consultant of individuals who have direct managerial responsibility for operations on such Subject Property, (iii) a review by the Environmental Consultant of records relating to current and historical operations conducted at such Subject Property and (iv) as deemed appropriate by the Environmental Consultant, interviews by the Environmental Consultant of individuals in the area in which such Subject Property is located who may have knowledge of current and historical operations conducted at such Subject Property.
Sample 1

Related to Phase I Environmental Review

  • Environmental Review means the Federal

  • 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 Site Assessment is an assessment of the environmental condition of the Property performed in accordance with the American Society of Testing and Materials (ASTM) Standard E1527-05 “Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process,” or any successor to such ASTM Standard which is active at the time of the assessment.

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

  • Environmental Impact Assessment means a systematic examination conducted to determine whether or not a programme, activity or project will have any adverse impacts on the environment;

  • Environmental Site Assessment means a Phase I environmental report meeting the requirements of the American Society for Testing and Materials, and, if in accordance with customary industry standards a reasonable lender would require it, a Phase II environmental report, each prepared by a licensed third party professional experienced in environmental matters.

  • Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.

  • Phase I means the first part of the tuition incentive assistance program defined as the academic period of 80 semester or 120 term credits, or less, leading to an associate degree or certificate.

  • Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.

  • Environmental Report The environmental audit report or reports with respect to each Mortgaged Property delivered to the related Mortgage Loan Seller in connection with the origination or acquisition of the related Mortgage Loan.

  • Adverse Environmental Condition means (i) the existence or the continuation of the existence, of an Environmental Contamination (including, without limitation, a sudden or non-sudden accidental or non-accidental Environmental Contamination), of, or exposure to, any substance, chemical, material, pollutant, Hazardous Substance, odor or audible noise or other release or emission in, into or onto the environment (including without limitation, the air, ground, water or any surface) at, in, by, from or related to any Equipment, (ii) the environmental aspect of the transportation, storage, treatment or disposal of materials in connection with the operation of any Equipment, or (iii) the violation, or alleged violation, of any Environmental Law, permits or licenses of, by or from any governmental authority, agency or court relating to environmental matters connected with any of the Equipment.

  • Phase II means the second part of the tuition incentive assistance program which provides assistance in the third and fourth year of 4-year degree programs.

  • Site Assessment means an environmental assessment report for the Mortgaged Property prepared at Borrower’s expense by a qualified environmental consultant engaged by Borrower, or by Lender on behalf of Borrower, and approved by Lender, and in a manner reasonably satisfactory to Lender, based upon an investigation relating to and making appropriate inquiries to evaluate the risks associated with Mold and any existence of Hazardous Materials on or about the Mortgaged Property, and the past or present discharge, disposal, release or escape of any such substances, all consistent with the most current version of the ASTM 1527 standard (or any successor standard published by ASTM) and good customary and commercial practice.

  • Phase I assessment 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 a Specially Serviced Mortgage Loan 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 Loan as to which the related Mortgaged Property is not multifamily property.

  • Environmental Assessment Act means the Environmental Assessment Act, R.S.O. 1990, c.E.18.

  • Environmental Consultant has the meaning set forth in Section 5.17(a).

  • Environmental Reports means each and every “Phase I Environmental Site Assessment” (and, if applicable, “Phase II Environment Site Assessment”) as referred to in the ASTM Standards on Environmental Site Assessments for Commercial Real Estate, E 1527-2000 and an asbestos survey, with respect to each Mortgaged Property, prepared by one or more Environmental Auditors and delivered to Lender and any amendments or supplements thereto delivered to Lender.

  • Environmental and Social Impact Assessment or “ESIA” means a site-specific report, to be prepared in accordance with the parameters laid down in the ESMF (as hereinafter defined) and acceptable to the Association, identifying and assessing the potential environmental and social impacts of the activities to be undertaken for the Project, evaluating alternatives, and designing appropriate mitigation, management, and monitoring measures.

  • Environmental Conditions means any conditions of the environment, including, without limitation, the work place, the ocean, natural resources (including flora or fauna), soil, surface water, ground water, any actual or potential drinking water supply sources, substrata or the ambient air, relating to or arising out of, or caused by the use, handling, storage, treatment, recycling, generation, transportation, Release or threatened Release or other management or mismanagement of Regulated Substances resulting from the use of, or operations on, the Property.

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

  • 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.

  • Environmental Harm means serious or material environmental harm or environmental nuisance as defined in the Environmental Protection Xxx 0000 (Qld);

  • Needs assessment In this section, LEAs are asked to describe the impact of the pandemic on their students, examine disproportionate impacts on specific student groups, and highlight the LEA’s promising practices in supporting student needs since March 2020. Indicators of Impact

  • Insured Environmental Event As defined in Section 3.07(d).