The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Board.” The Environmental Hearing Board of the Commonwealth.

“Borrower.” A person who has received an extension of credit. The term includes, but is not limited to, a debtor, a lessor, a lessee or an obligor.

“Conservancy.” A charitable corporation, charitable association or charitable trust registered with the Bureau of Charitable Organizations and exempt from taxation pursuant to section 501(c)(3) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 501(c)(3)) or other Federal or Commonwealth statutes or regulations, the purpose or powers of which include retaining or protecting natural, scenic, agricultural or open-space values of real property; assuring the availability of real property for agricultural, forest, recreational or open-space use; protecting natural resources and wildlife; maintaining or enhancing land, air or water quality; or preserving the historical, architectural, archaeological or cultural aspects of real property.

“Department.” The Department of Environmental Protection of the Commonwealth.

“Economic development agencies.” The term includes:

“Environmental acts.” Collectively and separately, the act of June 22, 1937 (P.L. 1987, No. 394),⁵ known as The Clean Streams Law, the act of January 8, 1960 (1959 P.L. 2119, No. 787),⁶ known as the Air Pollution Control Act, the act of July 7, 1980 (P.L. 380, No. 97),⁷ known as the Solid Waste Management Act, the act of October 5, 1984 (P.L. 734, No. 159),⁸ known as the Worker and Community Right-to-Know Act, the act of July 13, 1988 (P.L. 525, No. 93),⁹ referred to as the Infectious and Chemotherapeutic Waste Law, the act of October 18, 1988 (P.L. 756, No. 108),¹⁰ known as the Hazardous Sites Cleanup Act, the act of July 6, 1989 (P.L. 169, No. 32),¹¹ known as the Storage Tank and Spill Prevention Act, the act of December 7, 1990 (P.L. 639, No. 165),¹² known as the Hazardous Material Emergency Planning and Response Act, and the act of June 11, 1992 (P.L. 303, No. 52),¹³ known as the Oil Spill Responder Liability Act, and all such acts as they may be amended from time to time, and any Federal, State or local law, statute, regulation, rule, ordinance, court or administrative order or decree, common law, interpretation or guidance, now or hereafter in existence pertaining to employees, occupational health and safety, public health or safety, natural resources or the environment.

“Environmental due diligence.” Investigative techniques, including, but not limited to, visual property inspections, electronic environmental data base searches, review of ownership and use history of the property, environmental questionnaires, transaction screens, environmental assessments or audits.

“Fiduciary.” Any person which is considered a fiduciary under section 3(21) of the Employee Retirement Income Security Act of 1974 (Public Law 93-406, 29 U.S.C. § 1002(21)) or who acts as trustee, executor, administrator, custodian, guardian of estates, conservator, committee of estates of persons who are disabled, personal representative, receiver, agent, nominee, registrar of stocks and bonds, assignee or in any other capacity for the benefit of another person.

“Foreclosure.” The date upon which title vests in property through realizing upon a security interest, including, but not limited to, any ownership of property recognized under applicable law as vesting the holder of the security interest with some indicia of title, legal or equitable title obtained at or in lieu of foreclosure, sheriff sales, bankruptcy distributions and their equivalents.

“Fund.” Collectively and separately, any special fund of Commonwealth moneys administered by the Commonwealth or the Department of Environmental Resources,¹⁴ including, but not limited to, the Hazardous Sites Cleanup Fund and the Underground Storage Tank Indemnification Fund, as well as any other fund of Commonwealth moneys now or hereafter in existence created for the funding or reimbursement of costs and damages such as response costs, emergency response measures and their equivalent relating to natural resources or the environment.

“Guarantor.” The term includes guarantors and sureties of security interests, securities and other obligations, issuers of letters of credit and other credit enhancements, title insurers and entities which directly or indirectly acquire indicia of ownership in the course of protecting a security interest or acting as such guarantors, sureties, issuers of letters of credit or other credit enhancements or title insurers. The term includes guaranties, surety bonds, title insurance policies, letters of credit and other credit enhancements, and other agreements with a guarantor relating to the obligations described in this definition. The term directly or indirectly includes any interest in property, security interest, indicia of ownership title or right to title held or acquired by a fiduciary or similar entity for the benefit of a holder of a security interest.

“Indicia of ownership.” Any legal or equitable interest in property, including fee title, acquired directly or indirectly:

The term includes evidence of interest in mortgages, deeds of trust, liens, surety bonds, guaranties, lease financing transactions where the lessor does not initially select or ordinarily control the daily operation or maintenance of the property, other forms of encumbrances against property recognized under applicable law as vesting the holder of the security interest with some indicia of title.

“Industrial activity.” Commercial, manufacturing, public utility, mining or any other activity done to further either the development, manufacturing or distribution of goods and services, intermediate and final products and solid waste created during such activities, including, but not limited to, administration of business activities, research and development, warehousing, shipping, transport, remanufacturing, stockpiling of raw materials, storage, repair and maintenance of commercial machinery and equipment and solid waste management.

“Industrial site.” A site which now has or once had an industrial activity on it.

“Lender.” Any person regulated or supervised by any Federal or State regulatory agency and any of its affiliates or subsidiaries, successors or assigns, including its officers, directors, employees, representatives or agents, and any Federal or State banking or lending agency or its successors, including, but not limited to, Resolution Trust Corporation, Federal Deposit Insurance Corporation, Federal Reserve Bank, Board of Governors of the Federal Reserve System, Federal Home Loan Bank, National Credit Union Administrator Board, Office of the Comptroller of the Currency, Office of Thrift Supervision, Farm Credit Administration and Small Business Administration or similarly chartered Federal instrumentality. The term also includes the initial lender and any subsequent holder of a security interest or note, guarantor, lease financier or any successor or a receiver or other person who acts on behalf or for the benefit of a holder of a security interest. The term includes an economic development agency.

“Occupant.” A party which occupies or has the right to occupy property owned by an economic development agency by any instrument, including, but not limited to, a lease, mortgage, installment sale contract, disposition agreement or trust agreement.

“Person.” An individual, partnership, corporation, business trust, joint-stock fund, estate trust, banking association, governmental, administrative or regulatory agency, institution or any other type of legal entity whatsoever.

“Property.” All types of real and personal and tangible and intangible property.

“Redevelopment.” Undertakings and activities made under the act of May 24, 1945 (P.L. 991, No. 385),¹⁵ known as the Urban Redevelopment Law, including, but not limited to, planning, acquisition, site preparation, demolition, rehabilitation, renovation, conservation, reuse, renewal, improvement, clearance, sale and lease of real property and improvements thereon.

“Regulated substance.” Any element, compound or material which is subject to regulation under the environmental acts or any element, compound or material defined as a hazardous, toxic, regulated infectious chemotherapeutic substance or chemical contaminant, waste, any type of pollution or condition or any equivalent under the environmental acts.

“Release.” Any spill, rupture, emission, discharge, other action, occurrence, condition or any other term defined as a “release” or other threat of release or operative word or event which would trigger compliance requirements or liability under the environmental acts.

“Response action.” An action, including, but not limited to, a response or interim response, remedial response or remedy or corrective action, closure or any other action under the environmental acts in response to a release, such as testing, inspections, sampling, installations, corrective action, removals, closure, response costs, assessments or any types of claims, damages, actions, fines and penalties.

“Security interest.” An interest in property created or established for the purpose of securing a loan, right of reimbursement or subrogation under a guaranty or other obligation or constituting a lease financing transaction. The term includes security interests created under 13 Pa.C.S. (relating to commercial code), mortgages, deeds of trust, liens, lease financing transactions in which the lessor does not initially select or ordinarily control the daily operation or maintenance of the property, trust receipt transactions and their equivalents. Security interest may also arise from transactions such as sales and leasebacks, conditional sales, installment sales, certain assignments, factoring agreements, accounts receivable, financing arrangements and consignments if the transaction creates or establishes an interest in property for the purpose of securing a loan, right of reimbursement or subrogation under a guaranty or other obligation. The term also includes a confession of judgment or money judgment whereby a lender commences an execution on such judgments with a writ of execution and thereby causes property to be levied and attached.