Updated Report definition
Examples of Updated Report in a sentence
Seller will cooperate with Buyer in obtaining, at Seller's expense, a Phase II environmental report for any parcel of Real Property owned by Seller with respect to the Stations to the extent expressly recommended in any Existing Phase I Reports or any Updated Report (a "Phase II Report"); provided, however, that no such Phase II Report shall be ordered or obtained before the expiration of five (5) Business Days after the date hereof.
By giving written notice to Seller on or before the date that is one (1) business day after receiving the Updated Report, Buyer may object to the following exceptions only noted in the Updated Report: (a) any new matters shown on the Updated Report or (b) any material discrepancies between the Updated Report and the information shown on the Survey.
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Seller has delivered to Buyer the Updated Report, together with copies of all underlying documents referred to therein, and the Survey.
The Seller and the Buyer shall within 10 days after the Closing Date instruct Arcadis, or any comparable environmental surveyor (the "Surveyor"), to conduct an environmental survey of the Real Property in order to prepare an update of the environmental report from Heidemij dated 4 April 1997 (the "Updated Report"), the scope of which shall be reasonably acceptable to both the Seller and the Buyer.
If the Updated Report lists any building or fire code violations, or other violations against the related Mortgaged Property (the “Outstanding Violations”), the related Mortgagor will (i) promptly commence and diligently pursue the remediation of such Outstanding Violations and (ii) no later than 60 days from the date such Updated Report is delivered to Mortgagee, deliver to the Mortgagee written evidence of such remediation.
The Large Gravity Sewer Alternative (G-42/48) in the November 1984 Updated Report is the recommended project to provide additional capacity in the Allentown/Emmaus Interceptor.
Other than as set forth in the Updated Report, as supplemented from time to time, and the Property Documents, to the best of Seller's knowledge there are no pending or proposed assessments nor any understanding or agreement with any taxing authority respecting the imposition or deferment of any taxes or assessments respecting the Property.
This Updated Report of January 19, 2024 uses data provided by the Mount Vernon City School District to estimate the number of students living in the Project.
In the event that the Updated Report provides for the advice to conduct a further environmental survey the Seller and the Buyer shall instruct the Surveyor to conduct such further survey and to prepare a further report thereon (the "Further Report").