Phase I Environmental Survey definition

Phase I Environmental Survey means a study, conducted in accordance with standards promulgated by the American Society for Testing and Materials or an equivalent environmental site assessment conducted pursuant to current good customary and commercial practice, that (i) evaluates the potential for Environmental Conditions to exist at the property that is the subject of the study as a result of historical or current operations or activities at said property and (ii) evaluates whether the subject property is in substantial compliance with applicable Environmental Laws.
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Phase I Environmental Survey means a study, conducted in accordance with standards promulgated by the American Society for Testing and Materials or an equivalent environmental site assessment conducted pursuant to current good customary and commercial practice, that (a) evaluates the potential for Environmental Conditions to exist at the property that is the subject of the study as a result of historical or current operations or activities at said property and (b) evaluates whether the subject property is in substantial compliance with applicable Environmental Laws.
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Phase I Environmental Survey means a study, conducted in accordance with standards promulgated by the American Society for Testing and Materials or an equivalent environmental site assessment conducted pursuant to current good customary and commercial practice, that (i) evaluates the potential for Environmental Conditions to exist at the property that is the subject of the study as a result of historical or current operations or activities at said property and (ii) evaluates whether the subject property is in substantial compliance with applicable Environmental Laws. "Phase II Environmental Survey" shall mean a study that includes sampling and analysis of soil, groundwater and/or other environmental media, conducted pursuant to good customary and commercial practice, that evaluates potential Environmental Conditions determined in a Phase I Environmental Survey to exist at the property that is the subject of the study. "Plan" shall mean any "employee benefit plan" (as defined in Section 3(3) of ERISA) that is subject to ERISA, any "plan" (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, any trust created under any such plan or any "governmental plan" (as defined in Section 3(32) of ERISA or Section 414(d) of the Code) that is organized in a jurisdiction having prohibitions on transactions with government plans similar to those contained in Section 406 of ERISA or Section 4975 of the Code. "Potomac River Note" shall mean the note evidencing the loan by SEMA to SE Potomac River, as described in the recitals to the Participation Agreement. "Power Marketing Business" shall mean the business of selling and/or purchasing electricity, capacity or ancillary services which is not (i) incidental to or in support of the sale and marketing of electricity, capacity and ancillary services from SEMA's and its ▇▇▇▇▇▇▇▇▇ DEFINITIONS (L1) -------------------------- 43
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Examples of Phase I Environmental Survey in a sentence

  • LANDLORD agrees to provide TENANT with a Phase I Environmental Survey of the land on which the Demised Premises is located.

  • A condition precedent to this Lease shall be TENANT's satisfactory review of the report (the "Phase I Environmental Survey") on the environmental condition of the land on which the Demised Premises is located.

  • In the event that TENANT shall discover in its review of the Phase I Environmental Survey that any Hazardous Materials may be present in the soil, ground water or soil vapor on or under the Demised Premises, TENANT may, upon written notice to LANDLORD within ten (10) days after the date TENANT receives the Phase I Environmental Survey, terminate this Lease.

  • Tenant, at its own expense, may arrange for a Phase I Environmental Survey on the land described herein by a reputable environmental consultant to determine the existence of “Hazardous Substances”, as such term is defined in this Agreement.

  • A condition precedent to this Lease shall be TENANT'S satisfactory review of the report (the "Phase I Environmental Survey") on the environmental condition of the land on which the Demised Premises is located.

  • In the event that TENANT shall discover in its review of the Phase I Environmental Survey that any Hazardous Materials may be present in the soil, groundwater or soil vapor on or under the Demised Premises, TENANT may, upon written notice to LANDLORD within ten (10) days after the date TENANT received the Phase I Environmental Survey, terminate this Lease.

  • Upon the termination or expiration of the Term of this Lease, Tenant shall cause the Leased Property to be delivered to Landlord free of all Contamination the removal of which is recommended by the Phase I Environmental Survey (or the equivalent at the time) completed by the engineering firm chosen by the parties or otherwise selected as provided below, and in compliance with all Environmental Laws with respect thereto.

  • In the event that TENANT shall discover i its review of the Phase I Environmental Survey that any Hazardous Materials may be present in the soil, ground water or soil vapor on or under the Demised Premises, TENANT may, upon written notice to LANDLORD within ten (10) days after the date TENANT receives the Phase I Environmental Survey, terminate this Lease.

  • The Phase I Environmental Survey and, if necessary, the Phase II Environmental Survey, shall be completed not more than ninety (90) days prior to the date the reports of the surveys are provided to the Lessor and Owner Participant.

  • Upon the termination or expiration of the Term of this Lease, Tenant shall cause the Leased Properties to be delivered to Landlord free of all Contamination the removal of which is recommended by the Phase I Environmental Survey (or the equivalent at the time) completed by the engineering firm chosen by the parties or otherwise selected as provided below, and in compliance with all Environmental Laws with respect thereto.

Related to Phase I Environmental Survey

  • Phase I Environmental Report means a report by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has a reasonable amount of experience conducting such assessments.

  • Phase I Environmental Assessment A “Phase I assessment” as described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.

  • Environmental Site Assessment means a Phase I environmental report meeting the requirements of the American Society for Testing and Materials, and, if in accordance with customary industry standards a reasonable lender would require it, a Phase II environmental report, each prepared by a licensed third party professional experienced in environmental matters.

  • environmental impact assessment means a systematic examination conducted to determine whether or not a programme, activity or project will have any adverse impacts on the environment;

  • Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.