Prudent Cost Response definition

Prudent Cost Response means the most cost-effective response to an Alleged Adverse Condition that is reasonably expected to address any obligation concerning the reporting, investigation, monitoring, removal, cleanup, remediation, restoration or correction of such condition to meet the requirements of Environmental Laws and, where applicable, to the satisfaction of any governmental authorities with jurisdiction over the Property on which such Alleged Adverse Condition exists, which response does not materially interfere with the use or operation of such Property.
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Prudent Cost Response means the most cost effective response to an Adverse Condition or Alleged Adverse Condition that is reasonably expected to or required to address any obligation concerning the reporting, investigation, monitoring, removal, cleanup, remediation, restoration or correction of such condition to meet the requirements of Environmental Laws or Seller’s obligations under contractual obligations related to Environmental Matters existing as of the Signing Date in effect at the time of such response to the satisfaction of any Governmental Authorities with jurisdiction over the Property on which such Adverse Condition or Alleged Adverse Condition exists, which response does not materially interfere with the use or operation of such Property.
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Examples of Prudent Cost Response in a sentence

  • Upon completion of this work, the NORM Contractors shall deliver final invoices to Buyer (with a copy to Seller and to the Escrow Agent) setting forth the actual cost of the removal, transportation, disposition and directly related activities, which the Parties shall deem to be the Prudent Cost Response amount for complying with the NORM Requirement with respect to the ▇▇▇▇▇▇▇ Crossing Facility and the Snow’s Bend Facility (the “Final NORM Reduction Amount”).

  • Newpark has prepared and delivered to the Parties written Proposal # L-LOC-13181 dated January 9, 2013 setting forth, in the professional judgment of Newpark, its initial determination of the Prudent Cost Response amount for complying with the NORM Requirement with respect to the ▇▇▇▇▇▇▇ Crossing Facility, together with the computations and information upon which the estimate is based, totaling $1,811,232.00.

  • Buyer’s notice asserting Alleged Adverse Conditions shall include a complete description and full explanation (including copies of any and all supporting documentation associated therewith) of each individual Alleged Adverse Condition being claimed and an estimate of the Prudent Cost Response that Buyer in good faith attributes to bringing such condition into compliance with Environmental Laws (such notice, an “Adverse Condition Notice”).

  • Purchaser’s notice asserting Alleged Adverse Conditions shall include a complete description and full explanation (including copies of any and all supporting documentation associated therewith) of each individual Alleged Adverse Condition being claimed and an estimate of the Prudent Cost Response that Purchaser in good faith attributes to bringing such condition into compliance with Environmental Laws (such notice, an “Adverse Condition Notice”).

  • Based on ▇▇▇▇▇▇▇▇▇’▇ initial proposal, the Parties agree that the Prudent Cost Response amount for complying with the NPDES Requirement, including all engineering, design, construction, modification, replacement, reconfiguration, testing, and approval of the NPDES Permits, will be approximately $500,000.

  • Upon completion of this work, the NPDES Contractors shall deliver final invoices to Buyer (with a copy to Seller and to the Escrow Agent) setting forth the actual cost of performing the work required by the NPDES Requirement, which the Parties shall deem to be the Prudent Cost Response amount for complying with the NPDES Requirement (the “NPDES Reduction Amount”).