Phase I Environmental Site Assessment definition

Phase I Environmental Site Assessment means a Phase I environmental property assessment of the Assets that satisfies the basic assessment requirements set forth under the current ASTM International Standard Practice for Environmental Site Assessments (Designation E1527-13) or any other visual site assessment or review of records, reports or documents.

Phase I Environmental Site Assessment means an investigation of the existing and past uses of a site for the purpose of identifying all potential areas of concern at a site at which substances may have been Released to the environment.

Phase I Environmental Site Assessment or “Phase I” means an investigation performed in accordance with ASTM International’s Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process (E 1527), as amended.

Examples of Phase I Environmental Site Assessment in a sentence

• If the SOW includes the acquisition of real property, the Sponsor shall provide a Phase I Environmental Site Assessment ("ESA") for the Project, in conformance with ASTM Standard Practice E 1527, evaluating whether the Project is affected by any recognized environmental conditions.

• Buyer must, promptly and without demand from Seller, provide Seller with true and and environmental investigations and testing of the Property including, without limitation, any reports relating to any Phase I Environmental Site Assessment of the Property.

• This Desktop Phase I ESA will be conducted based on standards published by the Environmental Protection Agency All Appropriate Inquiries (AAI) Final Rule and ASTM International (ASTM) under Standard Guideline E1527-13, “Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process.” As a note, a Desktop Phase I ESA can reduce, but not eliminate, the level of risk for unidentified environmental contamination.

• Phase I Environmental Site Assessment (BIO-WEST, Inc.) The purpose of the assessment is to identify potential environmental concerns in accordance with the requirements of the Standards and Practices for All Appropriate Inquiries, Final Rule 40 CFR Part 312; American Society for Testing and Materials (ASTM) Practice E1527-13.

• A Phase I Environmental Site Assessment was conducted for the site in December 2020 by Souder, Miller, & Associates.

More Definitions of Phase I Environmental Site Assessment

Phase I Environmental Site Assessment means an assessment of a site to identify potential or known areas of envi- ronmental contamination. This assessment may include review- ing records, interviewing persons, and conducting physical inspections of the site.

Phase I Environmental Site Assessment is defined in Section 4.2.

Phase I Environmental Site Assessment has the meaning set forth in Section 5.04.

Phase I Environmental Site Assessment means a Phase I environmental property assessment of the Assets that satisfies the basic assessment requirements set forth under the current ASTM International Standard Practice for Environmental Site Assessments (Designation E1527-13). For the avoidance of doubt, a Phase I Environmental Site Assessment does not include soil or groundwater sampling or subsurface or other invasive testing of any kind.

Phase I Environmental Site Assessment means an environmental site assessment performed pursuant to the American Society for Testing and Materials E1527 - 05, or any similar non-invasive environmental assessment. Buyer shall not operate any equipment or conduct any testing or sampling of soil, groundwater or other materials (including any testing or sampling for Hazardous Substances, Hydrocarbons or NORM) (“Phase II Activity”). If, following the conduct of the Phase I Environmental Site Assessment, Buyer reasonably believes that any Phase II Activity is necessary for it to determine the existence and/or magnitude of an Environmental Defect, Buyer shall furnish to Sellers for their review a proposed scope of such Phase II Activity, including a reasonable description of such activity and a description of the approximate locations of any sampling to be conducted. Following the receipt and review of such proposal by Sellers, Sellers shall elect, in their sole discretion, to permit or refuse to permit the conduct of any Phase II Activity by Buyer; provided, however, that if Sellers refuse to permit the conduct of the Phase II Activity, then the Assets with respect to which Buyer requested permission to conduct such Phase II Activity may, at Buyer’s option, be excluded from the Assets to be conveyed to Buyer at Closing and the Unadjusted Purchase Price shall be adjusted downward by the Allocated Value of such Assets.

Phase I Environmental Site Assessment. (Phase I ESA) means an AAI compliant Phase I ESA conducted by an Environmental Professional in accordance with the most recently adopted standard for a Phase I ESA established by ASTM International, currently ASTM E1527-21. (See also 40 CFR § 312.20.)

Phase I Environmental Site Assessment means a Phase I environmental property assessment of the Oil and Gas Assets that satisfies the basic assessment requirements set forth under the current ASTM International Standard Practice for Environmental Site Assessments (Designation E1527-13).