Remediation Amount definition

Remediation Amount means, with respect to an Environmental Condition, the present value as of the Closing Date (using an annual discount rate of 10%) of the cost (net to RTP’s or EAOC’s interest, as applicable, prior to the consummation of the transactions contemplated by this Agreement) of the Remediation of such Environmental Condition.

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Remediation Amount means, with respect to an Environmental Condition, 50% of the present value as of the Closing Date of the cost (net to the EXCO Subs’ interest prior to the consummation of the transactions contemplated by this Agreement) of the most cost effective Remediation of such Environmental Condition that is reasonably available and all Liabilities (net to the EXCO Subs’ interest prior to the consummation of the transactions contemplated by this Agreement) with respect thereto.

Remediation Amount means, with respect to an Environmental Condition, the estimated costs and expenses as of the Closing Date that addresses the Remediation of such Environmental Condition in the most cost effective manner (considered as a whole taking into consideration any material negative impact such response may have on the operations of the relevant assets and any potential material additional costs or liabilities that may likely arise as a result of such response).

Examples of Remediation Amount in a sentence

If the Parties are unable to agree prior to Closing, then the Disputed Environmental Matters will be exclusively and finally resolved pursuant to this Section 4.3. For any Disputed Environmental Matters not resolved by Closing, the Unadjusted Cash Consideration shall be decreased at Closing by the Remediation Amount asserted in good faith by Acquiror (after giving effect to any partial cure or remediation thereof agreed to by the Parties).
If, on the other hand, the Environmental Arbitrator’s determination of the Remediation Amount is less than the Remediation Amount retained by Acquiror pursuant to Section 4.3(b), then Acquiror shall promptly, and in any event within three (3) Business Days following such determination, pay the amount of such difference in cash to Contributor by wire transfer of immediately available funds to an account designated in writing by Contributor.
For the avoidance of doubt, this Section 4.3(g) shall be applied only to determinations made by the Environmental Arbitrator after the Closing and the amount of any Remediation Amount determined by the Environmental Arbitrator prior to the Closing shall be fully accounted for in the calculation of the Adjusted Cash Consideration.

More Definitions of Remediation Amount

Remediation Amount means, with respect to an Environmental Condition, the present value as of the Closing Date of the cost (net to the Asset) of the most cost effective Remediation of such Environmental Condition, as agreed to by the Parties, that is reasonably available, plus any and all fines, penalties, court and/or administrative costs and expenses and all other costs and expenses (including Liabilities to third parties) attributable to or arising from the existence of such Environmental Condition.

Remediation Amount means, with respect to an Environmental Condition (a) the cost (net to the Conveyed Interests) of the most cost effective Remediation of such Environmental Condition that is reasonably available, considering the use of the applicable property, plus (b) the amount of any Liabilities to Third Parties (net to the Conveyed Interests) in addition to Remediation as a consequence of the Environmental Condition.

Remediation Amount means, with respect to an Environmental Condition, the present value as of the Closing Date (using an annual discount rate of 10%) of the reasonable cost (net to Seller’s interest) of the Remediation of such Environmental Condition, so as to allow for the continued operation of the Asset in the same manner in which it is operated on the Closing Date, and by methods of Remediation that are consistent with customary industry practices in the State of Texas as accepted by Governmental Authorities under Environmental Laws.

Remediation Amount means, with respect to an Environmental Condition, the cost net to Sellers’ interest of the Remediation of such Environmental Condition; provided, however, that “Remediation Amount” shall not include (a) expenses for matters that are ordinary costs of doing business regardless of the presence of an Environmental Condition (e.g., those costs that would ordinarily be incurred in the day-to-day operations of the Assets), or (b) overhead costs of Buyer and/or its Affiliates, or (c) costs and expenses that would not have been required under Environmental Laws as they exist on the Execution Date to remediate or otherwise cure such Environmental Defect in the most cost effective manner reasonably available and consistent with common industry practices.

Remediation Amount means, with respect to an Environmental Condition, the sum (without duplication) of (a) estimated amount of all reasonable costs and expenses to be incurred in the Remediation of such Environmental Condition plus (b) all other environmental liabilities reasonably attributable to claims asserted prior to the Defect Claim Date.

Remediation Amount means, with respect to an Environmental Defect, the present value as of the Closing Date of the cost to remediate the Environmental Defect, net to Seller’s working interest in the applicable Property.