Common use of Environment Assessment Clause in Contracts

Environment Assessment. Buyer shall have until February 27, 2009 to obtain a Phase I environmental assessment of the Real Property with results that are satisfactory to it or to otherwise satisfy itself as to the environmental condition of the Real Property. If the results are not satisfactory to it, Buyer may terminate this Agreement, provided that Seller shall be provided with the reason(s) for dissatisfaction and be afforded a reasonable opportunity to cure or remediate any environmental deficiency or concern. In such event, and notwithstanding anything herein to the contrary, Buyer shall not be required to pay the deposit referenced in Section 2.2 until Seller has made the cure or remediation or otherwise provided to Buyer adequate assurances that it will do so.