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| 11 “Portfolio” shall have the meaning set forth in Section 2.9. “POS” shall have the meaning set forth in Section 2.3(b). “Post-Closing Escrow” shall have the meaning given to such term in Section 8.1(c). “Post-Closing Escrow Agreement” shall mean the agreement governing the Post-Closing Escrow, which shall be substantially in the form of Exhibit J attached hereto. “Prior Exxon Owners” shall have the meaning set forth in Section 11.1. “Project Completion” with respect to the Properties, shall mean achieving NFR Status for Covered Contamination, or otherwise achieving closure in accordance with Environmental Law with respect to the Covered Contamination. “Properties” shall mean the Fee Properties and the Leased Properties. “Property Materials” shall have the meaning set forth in Section 10.2(b). “Purchase Price” shall have the meaning set forth in Section 2.4. “Purchased Assets” shall mean, collectively, the Fee Properties, the Leases, the Assumed Contracts, the Personal Property and the Equipment to be transferred to the Buyer pursuant to the terms of this Agreement, and all station level environmental “red books” and related materials. “Ragone Agreements” shall mean, collectively, (i) that certain Master Agreement, dated as of February 11, 2014, between East River, Big Apple, John Ragone (“Ragone”), the Ragone Companies, 66-15 JR Realty, Corp., and 73-13 JR Realty Corp.; (ii) that certain Third Lien Mortgage, Assignment of Leases and Rents and Security Agreement, dated February 5, 2014, and made by 73-13 JR Realty Corp., as mortgagor, in favor of East River, as mortgagee, (iii) that certain Promissory Note made by Ragone, the Ragone Companies, 66-15 JR Realty, Corp., 73- 13 JR Realty Corp. and Maspeth Auto Care, Inc., 15th and 19th Street Auto Care, Inc., and 20th Auto Care, Inc., as maker, in favor of East River, in the principal amount of $626,572.15, dated February 5, 2014 (the “Ragone Note”); (iv) that certain Second Lien Mortgage, Assignment of Leases and Rents and Security Agreement, dated February 5, 2014, made by 66-15 JR Realty, Corp., in favor of East River; (v) that certain personal Guaranty, dated as of February 5, 2014, made by Ragone, as guarantor, in favor of East River; (vi) all other documents evidencing or securing the debt owed by Ragone evidenced by the Ragone Note. “Released Parties” shall have the meaning set forth in Section 5.8(a). “Remediation Activities” shall mean any investigation (including, without limitation, any site investigation), study, assessment, testing, monitoring, containment, removal, disposal, closure, corrective action, remediation (whether active or passive), natural attenuation, bioremediation, response, treatment, cleanup or abatement work, operations and maintenance, Engineering or Institutional Controls, whether on-site or off-site, of Contamination to achieve NFR Status. |