Remediation Completion Date definition
Examples of Remediation Completion Date in a sentence
However, at Lender’s option, in Lender’s Discretion, Borrower will enter into a formal amendment to the Repair Schedule of Work to more fully set forth the Radon Remediation and the Radon Remediation Completion Date.
Upon request from Seller, Purchaser shall promptly provide Seller with written confirmation of the Remediation Completion Date.
Seller shall not be responsible for remediation of any Covered Contamination at any Property after the Remediation Completion Date if such remediation would be required only as a result of changes in applicable remediation standards or environmental laws and regulations enacted or promulgated after the Remediation Completion Date.
The cross-indemnifications set forth in Paragraphs 4 and 5 above shall automatically expire on the earlier of: (i) the date that is 10 years from the date of this Environmental Agreement; or (ii) the Remediation Completion Date as referenced in Paragraph 8 below.
For the avoidance of doubt, upon the Remediation Completion Date and except for Reopener Remedial Action Liabilities, Purchaser shall assume responsibility for all ongoing obligations with respect to such matter, including operation and maintenance of any institutional and engineering controls, long-term groundwater monitoring and reporting, obtaining and maintaining all Permits required under Environmental Laws, and establishing and maintaining any financial assurances.
However, in Funding Lender’s Discretion, Funding Lender may require Borrower to enter into a formal amendment to the Repair Schedule of Work to more fully set forth the Radon Remediation and the Radon Remediation Completion Date.
Similarly, if any environmental contamination not disclosed in the Baseline Report for a Property is discovered after the date Seller completes the remediation contemplated by Sections 7.3 and 7.4 ("Remediation Completion Date"), Purchaser shall bear the burden of proof to establish that such environmental contamination is Covered Contamination.
If any environmental contamination is discovered in connection with any Property subsequent to the Remediation Completion Date, Purchaser shall bear the burden of proof to establish that such contamination is Covered Contamination.
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Seller shall not be responsible for remediation of any Covered Contamination at any Marketing Site after the Remediation Completion Date if such remediation would be required only as a result of changes in applicable remediation standards or Environmental Laws and regulations or, with respect to MTBE, applicable guidelines or draft guidelines, enacted or promulgated after the Closing Date.