Certain Environmental Event Sample Clauses
The 'Certain Environmental Event' clause defines specific environmental incidents or conditions that may trigger particular rights or obligations under an agreement. Typically, this clause outlines what constitutes an environmental event, such as contamination, hazardous material release, or regulatory violations, and may specify the procedures to follow if such an event occurs. Its core practical function is to allocate responsibility and establish clear protocols for addressing environmental risks, thereby protecting parties from unforeseen liabilities and ensuring compliance with environmental laws.
Certain Environmental Event. Any Environmental Action, Remedial Action, or Environmental Liability shall arise or occur, the cost of which to any Loan Party or any of its Restricted Subsidiaries could reasonably be expected to have a Material Adverse Effect, and such Environmental Action, Remedial Action or Environmental Liability continues uncured and is continuing for a period of thirty (30) days after the earlier of (i) the date on which such Environmental Action, Remedial Action, or Environmental Liability shall first become known to any officer of any Loan Party or (ii) the date on which written notice thereof is given Borrower by Agent; and
Certain Environmental Event. Any Environmental Action, Remedial Action, or Environmental Liability shall arise or occur, the cost of which to any Loan Party or any of its Restricted Subsidiaries could reasonably be expected to have a Material Adverse Effect; and