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Environmental Indemnity
Environmental Indemnity contract clause examples

Environmental. In the event that Purchaser determines, prior to Closing, that there are conditions on, at or relating to the Property which are in non-compliance with Environmental Requirements or the possibility that Hazardous Materials may exist on or under the Property that will require remediation under any applicable federal or state laws, then, notwithstanding anything to the contrary contained herein, Purchaser may terminate this Agreement on or before the Closing Date upon written notice to Seller, in which event, the Earnest Money shall be immediately returned to Purchaser, without the consent or joinder of Seller being required and notwithstanding any instructions to the contrary which might be provided by Seller, and thereafter neither party hereto shall have any further rights or obligations under this Agreement except for the Surviving Obligations.

Environmental. In the event that Purchaser determines, prior to Closing, that there are conditions on, at or relating to the Property which are in non-compliance with Environmental Requirements or the possibility that Hazardous Materials (as defined below) may exist on or under the Property that will require remediation under any applicable federal or state laws and such conditions did not exist on or prior to the expiration of the Approval Period, then, notwithstanding anything to the contrary contained herein, Purchaser may terminate this Agreement on or before the Closing Date upon written notice to Sellers, in which event, the Earnest Money shall be immediately returned to Purchaser, and thereafter neither party hereto shall have any further rights or obligations under this Agreement except for the Surviving Obligations.

Environmental. In the event that Purchaser determines, prior to Closing, that there are conditions on, at or relating to the Property which are in non-compliance with Environmental Requirements and such conditions did not exist prior to the expiration of the Approval Period and that will require remediation under any applicable federal or state laws, then, notwithstanding anything to the contrary contained herein, Purchaser may terminate this Agreement on or before the Closing Date upon written notice to Seller, in which event, the Earnest Money shall be immediately returned to Purchaser, without the consent or joinder of Seller being required and notwithstanding any instructions to the contrary which might be provided by Seller, and thereafter neither party hereto shall have any further rights or obligations under this Agreement except for the Surviving Obligations.

Environmental. In the event that Purchaser determines, prior to Closing, that there are conditions on, at or relating to the Property which are in material non-compliance with Environmental Requirements or that Hazardous Materials exist on or under the Property that will require remediation under any applicable federal or state laws, then, notwithstanding anything to the contrary contained herein, Purchaser may terminate this Agreement within 30 days after Purchaser becomes aware of such matters by written notice to Seller, in which event, the Earnest Money shall be immediately returned to Purchaser, without the consent or joinder of Seller being required and notwithstanding any instructions to the contrary which might be provided by Seller, and thereafter neither party hereto shall have any further rights or obligations under this Agreement except for the Surviving Obligations.

In the event that Purchaser determines in its sole and absolute discretion, prior to Closing, that there are conditions on, at or relating to the Property which are in non-compliance with Environmental Requirements or the possibility that Hazardous Materials may exist on, at, under or may be migrating from the Property that may require investigation or remediation under any applicable federal or state laws, that have not otherwise been disclosed in Environmental Documents, then, notwithstanding anything to the contrary contained herein, Purchaser may terminate this Agreement on or before the Closing Date upon written notice to Seller, in which event, the Earnest Money shall be immediately returned to Purchaser, without the consent or joinder of Seller being required and notwithstanding any instructions to the contrary which might be provided by Seller, and thereafter neither party hereto shall have any further rights or obligations under this Agreement except for the Surviving Obligations; provided, however, that Purchaser shall not be entitled to terminate this Agreement with respect to the environmental matters listed on Schedule “C” attached hereto, except as may be otherwise provided in Section 9.21(b) below.

Environmental. In the event that Purchaser determines, prior to Closing, that there are conditions on, at or relating to any of the self storage facilities comprising the Property which are in non-compliance with Environmental Requirements or the possibility that Hazardous Materials may exist on or under any of the self storage facilities comprising the Property that will require remediation under any applicable federal or state laws (herein referred to as the “Environmental Property”, whether one or more), then, notwithstanding anything to the contrary contained herein, Purchaser may at or prior to Closing # terminate this Agreement with respect to the Environmental Property in which event # the allocable portion of the Deposit for the Environmental Property, as set forth on Schedule “C” attached hereto (together with all interest accrued thereon), shall be refunded to Purchaser, without the consent or joinder of Seller being required and notwithstanding any contrary instructions which might be provided by Seller, # the parties shall proceed to Closing with respect to the remainder of the Property, with the Purchase Price being reduced by the portion of the Purchase Price allocable to the Environmental Property, as set forth on Schedule “C” attached hereto, and # neither party shall have any further right or obligation hereunder with respect to the Environmental Property, other than the Surviving Obligations. Notwithstanding the foregoing, if this Agreement is terminated by Purchaser with respect to some but not all of the self-storage facilities, then Seller may at its option elect to terminate this Agreement with respect to all of the self-storage facilities and neither party shall have any further obligation hereunder except for the Surviving Obligations, which election must be made by Seller within 10 days after Buyer provides written notice to Seller that Buyer is terminating this Agreement with respect to some but not all of the self storage facilities.

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