Environmental Indemnity Agreement definition: Copy, customize and use instantly
Introduction
The term "Environmental Indemnity Agreement" refers to a legal agreement in which one party agrees to protect another party from environmental liabilities, risks, or damages that might arise from a specific project or property. This type of agreement is crucial for ensuring that potential environmental risks, such as contamination or pollution, are managed effectively. In contracts, it serves to allocate responsibility for dealing with environmental issues that may emerge during or after a project or transaction.
Below are various examples of how "Environmental Indemnity Agreement" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Environmental Indemnity Agreement" as a legal safeguard
This definition ties "Environmental Indemnity Agreement" to its role as a safeguard against potential environmental issues.
"Environmental Indemnity Agreement" means a legal agreement wherein the indemnitor agrees to protect and hold harmless the indemnitee from any claims, damages, or liabilities arising from environmental contamination or pollution associated with the subject property or project.
Definition of "Environmental Indemnity Agreement" for real estate transactions
This definition connects "Environmental Indemnity Agreement" to its use in real estate deals.
"Environmental Indemnity Agreement" refers to an agreement that provides indemnity to the property buyer or lender against environmental contamination claims that may affect the property’s value or marketability.
Definition of "Environmental Indemnity Agreement" as part of a construction contract
This definition links "Environmental Indemnity Agreement" to its use in construction contracts.
"Environmental Indemnity Agreement" means an agreement between the developer and contractor wherein the contractor agrees to cover any environmental damage or liabilities arising during the construction or development phase.
Definition of "Environmental Indemnity Agreement" for liability protection
This definition applies "Environmental Indemnity Agreement" to liability protection for a party in a transaction.
"Environmental Indemnity Agreement" refers to an indemnity contract wherein the indemnifying party agrees to cover any environmental liabilities, including fines or clean-up costs, resulting from environmental non-compliance.
Definition of "Environmental Indemnity Agreement" as a risk management tool
This definition ties "Environmental Indemnity Agreement" to its role in managing environmental risks.
"Environmental Indemnity Agreement" means an agreement that helps mitigate the risk of financial loss due to environmental issues, such as soil contamination or air pollution, that could affect the project or property involved.
Definition of "Environmental Indemnity Agreement" in merger and acquisition agreements
This definition connects "Environmental Indemnity Agreement" to mergers and acquisitions.
"Environmental Indemnity Agreement" refers to a provision in merger or acquisition agreements where the seller agrees to indemnify the buyer for any environmental liabilities that may arise after the transaction.
Definition of "Environmental Indemnity Agreement" for environmental clean-up
This definition applies "Environmental Indemnity Agreement" to situations requiring clean-up efforts.
"Environmental Indemnity Agreement" means a contract under which the indemnitor agrees to bear the costs and expenses associated with cleaning up hazardous materials or pollutants found on a property.
Definition of "Environmental Indemnity Agreement" for compliance with environmental laws
This definition connects "Environmental Indemnity Agreement" to legal compliance.
"Environmental Indemnity Agreement" refers to an agreement that ensures one party complies with all relevant environmental laws and agrees to indemnify the other for non-compliance or environmental damage caused by activities on a property.
Definition of "Environmental Indemnity Agreement" for insurance purposes
This definition links "Environmental Indemnity Agreement" to its use with insurance policies.
"Environmental Indemnity Agreement" means an agreement wherein one party assumes responsibility for certain environmental risks, often covered by insurance, to protect the other party from potential future liabilities.
Definition of "Environmental Indemnity Agreement" for commercial lease agreements
This definition applies "Environmental Indemnity Agreement" to commercial leases.
"Environmental Indemnity Agreement" refers to a clause in a commercial lease agreement where the tenant agrees to indemnify the landlord for any environmental damage or contamination caused during the term of the lease.
Definition of "Environmental Indemnity Agreement" for property owners
This definition connects "Environmental Indemnity Agreement" to property ownership and its obligations.
"Environmental Indemnity Agreement" means an agreement in which the property owner agrees to cover the costs and liabilities for any environmental damages or contamination found on the property.
Definition of "Environmental Indemnity Agreement" for environmental assessments
This definition ties "Environmental Indemnity Agreement" to environmental assessments.
"Environmental Indemnity Agreement" refers to an agreement wherein the indemnifying party assumes responsibility for any costs or liabilities related to environmental issues identified during an environmental site assessment.
Definition of "Environmental Indemnity Agreement" for lending transactions
This definition links "Environmental Indemnity Agreement" to its role in lending transactions.
"Environmental Indemnity Agreement" means an agreement in which a borrower agrees to indemnify the lender against any environmental risks, liabilities, or damages that may arise during the term of the loan.
Definition of "Environmental Indemnity Agreement" for regulatory fines
This definition connects "Environmental Indemnity Agreement" to regulatory fines.
"Environmental Indemnity Agreement" refers to an agreement in which one party agrees to indemnify another party for any fines, penalties, or expenses resulting from non-compliance with environmental regulations or laws.
Definition of "Environmental Indemnity Agreement" for hazardous material handling
This definition applies "Environmental Indemnity Agreement" to hazardous material handling.
"Environmental Indemnity Agreement" means an agreement wherein the indemnitor is responsible for any environmental damage or clean-up costs resulting from improper handling, storage, or disposal of hazardous materials on a property.
Definition of "Environmental Indemnity Agreement" for environmental audits
This definition ties "Environmental Indemnity Agreement" to environmental audits.
"Environmental Indemnity Agreement" refers to an agreement in which one party assumes liability for any environmental issues discovered during an audit of the property or project.
Definition of "Environmental Indemnity Agreement" for contractual obligations
This definition connects "Environmental Indemnity Agreement" to contractual obligations in the event of environmental issues.
"Environmental Indemnity Agreement" refers to an agreement that specifies the indemnifying party’s obligations to cover costs associated with environmental contamination or damage as part of a larger contract.
Definition of "Environmental Indemnity Agreement" for cleanup liability
This definition links "Environmental Indemnity Agreement" to cleanup liabilities.
"Environmental Indemnity Agreement" means an agreement where the indemnifying party assumes responsibility for the costs associated with cleaning up environmental contamination, such as soil, water, or air pollution.
Definition of "Environmental Indemnity Agreement" for lender protection
This definition applies "Environmental Indemnity Agreement" to lender protection.
"Environmental Indemnity Agreement" refers to a contract in which the borrower agrees to protect the lender from environmental liabilities, risks, or expenses that may arise in connection with the property or project.
Definition of "Environmental Indemnity Agreement" for post-transaction liabilities
This definition ties "Environmental Indemnity Agreement" to post-transaction liabilities.
"Environmental Indemnity Agreement" means a contract that protects one party from environmental liabilities that may emerge after a transaction, such as a sale or lease, is completed.
Definition of "Environmental Indemnity Agreement" for environmental risk transfer
This definition connects "Environmental Indemnity Agreement" to risk transfer.
"Environmental Indemnity Agreement" refers to a contract through which one party transfers the responsibility for certain environmental risks to another party, often to ensure that risks are properly managed and mitigated.
Definition of "Environmental Indemnity Agreement" for contamination protection
This definition links "Environmental Indemnity Agreement" to contamination protection.
"Environmental Indemnity Agreement" means an agreement where the indemnifying party agrees to hold the other party harmless from liabilities associated with environmental contamination that may arise before, during, or after the project.
Definition of "Environmental Indemnity Agreement" for long-term environmental obligations
This definition applies "Environmental Indemnity Agreement" to long-term environmental liabilities.
"Environmental Indemnity Agreement" refers to a legal contract where one party agrees to assume responsibility for environmental obligations that may extend beyond the duration of the project or transaction.
Definition of "Environmental Indemnity Agreement" for environmental performance bonds
This definition connects "Environmental Indemnity Agreement" to performance bonds.
"Environmental Indemnity Agreement" refers to a type of performance bond in which a party agrees to cover the costs of environmental damage or liabilities that may arise during the performance of a contract.
Definition of "Environmental Indemnity Agreement" for joint ventures
This definition ties "Environmental Indemnity Agreement" to joint ventures.
"Environmental Indemnity Agreement" means an agreement between joint venture parties that outlines their respective responsibilities for environmental risks, damages, or liabilities arising from the venture.
Definition of "Environmental Indemnity Agreement" for regulatory compliance costs
This definition applies "Environmental Indemnity Agreement" to regulatory compliance costs.
"Environmental Indemnity Agreement" refers to an agreement where one party assumes responsibility for the costs related to regulatory compliance, including inspections and environmental mitigation measures.
Definition of "Environmental Indemnity Agreement" for environmental settlements
This definition connects "Environmental Indemnity Agreement" to settlement agreements.
"Environmental Indemnity Agreement" refers to an indemnity agreement that provides protection for any liabilities, including fines or settlements, arising from environmental claims or violations.
Definition of "Environmental Indemnity Agreement" for remediation costs
This definition links "Environmental Indemnity Agreement" to remediation costs.
"Environmental Indemnity Agreement" means an agreement in which one party assumes responsibility for paying for the remediation of environmental damage caused by hazardous materials or contamination.
Definition of "Environmental Indemnity Agreement" for ongoing environmental obligations
This definition applies "Environmental Indemnity Agreement" to ongoing obligations.
"Environmental Indemnity Agreement" refers to a contract in which a party agrees to take responsibility for ongoing environmental liabilities, such as contamination clean-up, over a specified period.
Definition of "Environmental Indemnity Agreement" for industrial projects
This definition ties "Environmental Indemnity Agreement" to industrial projects.
"Environmental Indemnity Agreement" means an agreement that specifically addresses environmental risks and liabilities associated with large industrial projects, ensuring that the indemnifying party covers costs related to potential contamination or environmental harm.
Definition of "Environmental Indemnity Agreement" for site closure
This definition connects "Environmental Indemnity Agreement" to site closure.
"Environmental Indemnity Agreement" refers to an agreement that protects parties from liabilities arising during the process of closing an industrial site, including environmental cleanup or decommissioning costs.
Definition of "Environmental Indemnity Agreement" for property transfer
This definition links "Environmental Indemnity Agreement" to property transfer.
"Environmental Indemnity Agreement" refers to a contract in which the seller of a property agrees to indemnify the buyer for any environmental liabilities or contamination found on the property after the transfer.
Definition of "Environmental Indemnity Agreement" for contamination prevention
This definition ties "Environmental Indemnity Agreement" to contamination prevention.
"Environmental Indemnity Agreement" means an agreement where the indemnitor is responsible for ensuring that environmental contamination does not occur, and compensates the indemnitee if it does.
Definition of "Environmental Indemnity Agreement" for pollution liability
This definition connects "Environmental Indemnity Agreement" to pollution liability.
"Environmental Indemnity Agreement" refers to a contract where one party assumes liability for any pollution or environmental contamination that might affect the other party.
Definition of "Environmental Indemnity Agreement" for financial security
This definition applies "Environmental Indemnity Agreement" to financial security.
"Environmental Indemnity Agreement" means a contract in which the indemnitor provides financial security to cover the costs of any potential environmental liabilities that may arise during or after the project.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.