Periconi, LLC

Posts tagged "Environmental damages"

No Notices or Knowledge of Basis

1. Disclosure of outstanding notices or basis for notices is important to a continuing business: "Seller has not received written or oral notification that any of its current or past operations or a by-product thereof is related to or subject to any investigation by any Governmental Authority evaluating whether any remedial action is needed to respond to a release or a threatened release of a contaminant. 

Term Definition: Environmental Damages

Environmental Damages: This definition is a convenient place to collect all the possible liabilities and damages arising from the presence of hazardous materials on the property in violation of, or requiring remediation under, any Environmental Requirements. It can then be used in the indemnity and cost sharing provisions. 

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