Notice of Proposed Prospective Purchaser Agreement Pursuant to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as Amended by the Superfund Amendments and Reauthorization Act of 1986

Résumé

In accordance with the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of 1986 (``CERCLA''), 42 U.S.C. 9601-9675, notice is hereby given that a proposed Prospective Purchaser Agreement (``Agreement'') associated with the Commodore Semiconductor Group Superfund Site (the ``Site'') in Norristown, Lower Providence Township, Montgomery County, Pennsylvania, was executed by the Environmental Protection Agency (``Agency'') on Nov. 14, 1994 and is subject to final approval or disapproval by the United States Attorney General or her designee. The Prospective Purchaser Agreement would resolve certain potential EPA claims under Section 107 of CERCLA, 42 U.S.C. 9607, against GMT Microelectronics, Inc. (``Purchaser''). The Agreement provides that in exchange for a limited Covenant Not to Sue which relates only to existing contamination at the Site, and contribution protection, the Purchaser will provide the Agency with a ``substantial benefit'' which consists of the following: (1) Payment of EPA's response costs at the Site incurred prior to the effective date of the Agreement (approximately six-hundre