Environmental Due Diligence Terminology

• All Appropriate Inquiry- AAI

• ASTM E1527-05 Standard – Phase I Environmental Site Assessments

• ASTM E1527-13 Standard – Phase I Environmental Site Assessments

• Bona Fide Prospective Purchaser (BFPP)

• Business Environmental Risk

• Controlled Recognized Environmental Condition- CREC

• Comprehensive Environmental Response, Compensation and Liability Act- CERCLA

• De minimis conditions

• Environmental Professional- EP

• Environmental Site Assessment- ESA

• Historical Recognized Environmental Condition- HREC

• Recognized Environmental Condition- REC

• Registered Environmental Assessor- REA

• Secured Creditor Exemption / Lender Liability Amendments