Common use of Compliance with Applicable Environmental Law Clause in Contracts

Compliance with Applicable Environmental Law. Credit Parties represent and warrant to Lenders that, except as set forth in Schedule 5.12, the Properties and Credit Parties are not in violation of or subject to any existing, pending or, to the best of Credit Parties' knowledge, threatened investigation or inquiry by any governmental authority or any response costs or remedial obligations under any Applicable Environmental Law, and this representation and warranty would continue to be true and correct following disclosure to the applicable governmental authorities of all relevant facts, conditions and circumstances, if any, pertaining to the Properties; that Credit Parties have not obtained and are not required to obtain any permits, licenses or similar authorizations to construct, occupy, operate or use any buildings, improvements, fixtures or equipment located upon the Properties by reason of any Applicable Environmental Law; that Credit Parties have taken all steps reasonably necessary to determine and have determined that no petroleum products, oil, hazardous substances, or solid wastes have been disposed of or otherwise released on the Properties; and that the use which Credit Parties have made, make or intend to make of the Properties will not result in the location on or disposal or other release of any petroleum products, oil, hazardous substances or solid waste on or to the Properties. Credit Parties hereby agree to pay any fines, charges, fees, expenses, damages, losses, liabilities, or response costs arising from or pertaining to the application of any such Applicable Environmental Law to the Properties and to indemnify and forever save Lenders harmless from any and all judgments, fines, charges, fees, expenses, damages, losses, liabilities, response costs, or attorneys' fees and expenses arising from the application of any such Applicable Environmental Law to the Projects or Agent. Each of the Credit Parties agree to notify Lenders in the event that any governmental agency or other entity notifies any of them that they may not be in compliance with any Applicable Environmental Law. Credit Parties agree to permit Lenders to have access to the Properties at all reasonable times in order to conduct, at Credit Parties' expense, any tests which Lenders deem are necessary to ensure that Credit Parties and the Properties are in compliance with all Applicable Environmental Laws. Terms used in this Section 5.12. which are defined in any Applicable Environmental Law shall have the meanings given therein.

Appears in 2 contracts

Samples: Credit Agreement (Colonial Properties Trust), Credit Agreement (Colonial Realty Limited Partnership)

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Compliance with Applicable Environmental Law. Credit Parties represent and warrant to Lenders that, except Except as set forth in Schedule 5.124.01(j), (i) the Properties and Credit Parties the Guarantors are not in violation of or the subject to of any existing, pending or, to the best of Credit Partiesthe Guarantors' knowledge, threatened investigation or inquiry by any governmental authority or and are not liable for any response costs or remedial obligations under any Applicable Environmental Law, and this representation and warranty would continue to be true and correct following disclosure to ; (ii) the applicable governmental authorities of Guarantors have obtained all relevant facts, conditions and circumstances, if any, pertaining to the Properties; that Credit Parties have not obtained and are not required to obtain any permits, licenses or similar authorizations necessary pursuant to any Applicable Environmental Law to construct, occupy, operate or use any buildings, improvements, fixtures or equipment located upon the Properties by reason of any Applicable Environmental LawProperties; that Credit Parties (iii) the Guarantors have taken all steps reasonably necessary to determine and have determined that no petroleum products, oil, hazardous substances, or solid wastes have been disposed of or otherwise released on the Properties, other than quantities permitted by Applicable Environmental Law and which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the operations or financial condition of the Guarantors; and that (iv) the use which Credit Parties the Guarantors have made, make or intend to make made of the Properties will has not result resulted in the location on or disposal or other release of any petroleum products, oil, hazardous substances or solid waste on or to the Properties, other than quantities permitted by Applicable Environmental Law and which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the operations or financial condition of the Guarantors. Credit Parties The Guarantors hereby agree to pay any fines, charges, fees, expenses, damages, losses, liabilities, or response costs arising from or pertaining to the application of any such extent required by Applicable Environmental Law to the Properties and to indemnify and forever save Lenders harmless from any and all judgments, fines, charges, fees, expenses, damages, losses, liabilities, response costs, or and reasonable attorneys' fees and expenses arising from incurred by the application of Lenders under any such Applicable Environmental Law to the Projects or AgentLaw. Each of the Credit Parties agree Guarantors agrees to notify Lenders in the event that any governmental agency or other entity notifies any of them that they may not be in compliance with any Applicable Environmental Law. Credit Parties The Guarantors agree to permit Lenders to have access to the Properties at all reasonable times and upon reasonable notice in order to conduct, at Credit Partiesthe Guarantors' expense, any tests which Lenders deem are necessary to ensure that Credit Parties the Guarantors and the Properties are in compliance with all Applicable Environmental Laws. Terms used in this Section 5.12. 4.01(j) which are defined in any Applicable Environmental Law shall have the meanings given therein.

Appears in 1 contract

Samples: Guaranty Agreement (Colonial Properties Trust)

Compliance with Applicable Environmental Law. Credit Parties represent Borrower represents and warrant warrants to Lenders that, except as set forth in Schedule 5.12, the Properties Lender that Borrower and Credit Parties its properties are not in violation of or subject to any existing, pending or, to the best of Credit Parties' knowledge, or threatened investigation or inquiry by any governmental authority or any response costs or remedial obligations under any Applicable Environmental Law, and this representation and warranty would continue to be true and correct following disclosure to the applicable governmental authorities of all relevant facts, conditions and circumstances, if any, pertaining to the PropertiesBorrower and its properties; that Credit Parties have Borrower has not obtained and are is not required to obtain any permits, licenses or similar authorizations to construct, occupy, operate or use any buildings, improvements, fixtures or equipment located upon the Properties owned or operated by Borrower by reason of any Applicable Environmental Law; that Credit Parties have Borrower has taken all steps reasonably necessary to determine and have has determined that no petroleum products, oil, hazardous substances, or solid wastes have been disposed of or otherwise released on the PropertiesBorrower's properties; and that the use which Credit Parties have Borrower has made, make makes or intend to make of the Properties its properties will not result in the location on or disposal or other release of any petroleum products, oil, hazardous substances or solid waste on or to the Propertiessuch properties. Credit Parties Borrower hereby agree agrees to pay any fines, charges, fees, expenses, damages, losses, liabilities, or response costs arising from or pertaining to the application of any such Applicable Environmental Law to the Properties Borrower and to indemnify and forever save Lenders Banks harmless from any and all judgments, fines, charges, fees, expenses, damages, losses, liabilities, response costs, or attorneys' fees and expenses arising from the application of any such Applicable Environmental Law to the Projects Borrower, its properties, or AgentBanks. Each of the Credit Parties agree The Borrower agrees to notify Lenders Banks in the event that any governmental agency or other entity notifies any of them it that they it may not be in compliance with any Applicable Environmental Law. Credit Parties agree Borrower agrees to permit Lenders Banks to have access to the Properties its properties at all reasonable times in order to conduct, at Credit PartiesBorrowers' expense, any tests which Lenders Banks deem are necessary to ensure that Credit Parties Borrower and the Properties its properties are in compliance with all Applicable Environmental Laws. Terms used in this Section 5.12. 4.13 which are defined in any Applicable Environmental Law shall have the meanings given therein.

Appears in 1 contract

Samples: Credit Agreement (Nichols Research Corp /Al/)

Compliance with Applicable Environmental Law. Credit Parties represent and warrant to Lenders that, except as set forth in Schedule 5.12, the Pool Properties and Credit Parties are not in violation of or subject to any existing, pending or, to the best of Credit Parties' knowledge, threatened investigation or inquiry by any governmental authority or any response costs or remedial obligations under any Applicable Environmental Law, and this representation and warranty would continue to be true and correct following disclosure to the applicable governmental authorities of all relevant facts, conditions and circumstances, if any, pertaining to the Pool Properties; that Credit Parties have not obtained and are not required to obtain any permits, licenses or similar authorizations to construct, occupy, operate or use any buildings, improvements, fixtures or equipment located upon the Pool Properties by reason of any Applicable Environmental Law; that Credit Parties have taken all steps reasonably necessary to determine and have determined that that, except as set forth in Schedule 5.12, no petroleum products, oil, hazardous substances, or solid wastes have been disposed of or otherwise released on the Pool Properties; and that the intended use which Credit Parties have made, make or intend to make of the Properties Pool Properties, except as set forth on Schedule 5.12, will not result in the location on or disposal or other release of any petroleum products, oil, hazardous substances or solid waste on or to the Pool Properties. Credit Parties hereby agree to pay pay, or cause others to pay, any fines, charges, fees, expenses, damages, losses, liabilities, or response costs arising from or pertaining to the application of any such Applicable Environmental Law to the Pool Properties and to indemnify and forever save Lenders harmless from any and all judgments, fines, charges, fees, expenses, damages, losses, liabilities, response costs, or reasonable and documented attorneys' fees and expenses arising from the application of any such Applicable Environmental Law to the Projects Pool Properties or Agent. Each of the Credit Parties agree to notify Lenders in the event that any governmental agency or other entity notifies any of them them, or they become aware that the lessees of the Pool Properties have been notified, that they or any lessees of the Pool Properties may not be in compliance with any Applicable Environmental Law. If an Event of Default shall occur by reason of Credit Parties agree Parties' failure to permit observe and perform the requirements of Section 6.21 hereof, Lenders shall have the right, but not the obligation, to have access to enter upon the Pool Properties at all reasonable times in order to conductremedy, at Credit Parties' expense, any tests which Lenders deem are necessary to ensure that Credit Parties and the Properties are in compliance with all violation of Applicable Environmental LawsLaw not cured by Credit Parties. Terms used in this Section 5.12. which are defined in any Applicable Environmental Law shall have the meanings given therein.

Appears in 1 contract

Samples: Credit Agreement (Monarch Properties Inc)

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Compliance with Applicable Environmental Law. Credit Parties represent and warrant to Lenders that, except as set forth in Schedule 5.129.12, the Properties and Credit Parties are not in violation of or subject to any existing, pending or, to the best of Credit Parties' knowledge, threatened investigation or inquiry by any governmental authority or any response costs or remedial obligations under any Applicable Environmental Law, and this representation and warranty would continue to be true and correct following disclosure to the applicable governmental authorities of all relevant facts, conditions and circumstances, if any, pertaining to the Properties; that Credit Parties have not obtained and are not required to obtain any permits, licenses or similar authorizations to construct, occupy, operate or use any buildings, improvements, fixtures or equipment located upon the Properties by reason of any Applicable Environmental Law; that Credit Parties have taken all steps reasonably necessary to determine and have determined that no petroleum products, oil, hazardous substances, or solid wastes have been disposed of or otherwise released on the Properties; and that the use which Credit Parties have made, make or intend to make of the Properties will not result in the location on or disposal or other release of any petroleum products, oil, hazardous substances or solid waste on or to the Properties. Credit Parties hereby agree to pay any fines, charges, fees, expenses, damages, losses, liabilities, or response costs arising from or pertaining to the application of any such Applicable Environmental Law to the Properties and to indemnify and forever save Lenders harmless from any and all judgments, fines, charges, fees, expenses, damages, losses, liabilities, response costs, or attorneys' fees and expenses arising from the application of any such Applicable Environmental Law to the Projects or Agent. Each of the Credit Parties agree to notify Lenders in the event that any governmental agency or other entity notifies any of them that they may not be in compliance with any Applicable Environmental Law. Credit Parties agree to permit Lenders to have access to the Properties at all reasonable times in order to conduct, at Credit Parties' expense, any tests which Lenders deem are necessary to ensure that Credit Parties and the Properties are in compliance with all Applicable Environmental Laws. Terms used in this Section 5.12. 9.12 which are defined in any Applicable Environmental Law shall have the meanings given therein.

Appears in 1 contract

Samples: Credit Agreement (Colonial Realty Limited Partnership)

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