Phase II Report definition

Phase II Report means an investigation and written report conducted by an environmental professional that further evaluates a REC identified in a Phase I Report or other transaction screen process for the purpose of providing additional information regarding the nature and extent of environmental contamination associated with a REC.

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Phase II Report has the meaning set forth in Section 6.7(a).

Phase II Report means shall have the meaning given in Section 3.1.33 of the Disbursement Agreement.

Examples of Phase II Report in a sentence

• Buyer shall engage a geologist or professional engineer who is licensed by the State of California and who is not an affiliate of Buyer or Seller (the "Environmental Consultant"), to perform the subsurface investigation and prepare and certify the Phase II Report.

• Failure to order such Phase II report ("Phase II Report") on any particular properties within such 15 day period shall constitute a waiver of such condition with respect to such property.

• During the Inspection ------------------------------------- Period, Buyer shall obtain a subsurface investigation report on the extent and concentrations of any petroleum products in the soil and, if encountered, groundwater at or under the Real Estate (the "Phase II Report").

• The parties shall request that the Environmental Consultant complete the Phase II Report at least 10 days prior to the end of the Inspection Period.

• Escrow Holder shall prorate the cost of the Phase II Report at the closing so that Buyer and Seller share equally up to $15,000 of the total cost of the Phase II Report.

More Definitions of Phase II Report

Phase II Report shall have the meaning set forth in Section 10.7.

Phase II Report means that certain draft Phase II Environmental Site Assessment dated April 10, 2020, prepared by Pinnacle Engineering, Inc. as Pinnacle Project EM20202009.

Phase II Report shall have the meaning assigned to such term in Section 8.1(a) hereof.

Phase II Report. (as defined in the Acquisition Agreement) with respect to the issue of "Potentially Remediable On-Site Conditions" (as defined in the Acquisition Agreement), pursuant to the approval right provided to the Company in the Second Amendment to Stock Purchase Agreement, without Lender's prior written consent, which consent shall not unreasonably be withheld.

Phase II Report has the meaning specified in Section 5.8 of this Agreement.

Phase II Report shall have the meaning set forth in SECTION 6.6.

Phase II Report has the meaning set forth in Section 4.10.