Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect. (b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them. (c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 4 contracts
Samples: Credit Agreement (Regency Energy Partners LP), Credit Agreement (Regency Energy Partners LP), Credit Agreement (Regency Energy Partners LP)
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided PROVIDED that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section SECTION 3.18 or Section SECTION 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of U.S. Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respectsLaws.
Appears in 2 contracts
Samples: Credit Agreement (Ply Gem Industries Inc), Credit Agreement (Ply Gem Industries Inc)
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; generate, treat, use, store, release, dispose of and otherwise manage Hazardous Materials in a manner that will not result in material liability to any Company or materially affect any Real Property and cause all lessees and other persons occupying Real Property of any Company to so manage Hazardous Materials; promptly comply with all orders and directives of all Governmental Authorities regarding Environmental Laws; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 has occurred or Section 5.09(a) shall have occurred and may reasonably be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Lawsanticipated, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request (or such shorter period as the Administrative Agent may reasonably request), at the expense of Borrower, an environmental assessment report (or, where appropriate, series of environmental assessment reports) regarding any Mortgaged Property specified by the Administrative Agent (and, if the Default is caused in whole or in part by reason of a breach of Section 3.18 or 5.09(a), regarding the matters which are the subject of relating to such Defaultbreach or breaches), including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm reasonably proposed by the Administrative Agent, and, in the form form, scope and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address themAgent.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 2 contracts
Samples: Credit Agreement (SFBC International Inc), Credit Agreement (SFBC International Inc)
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of or other property owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its such Response is being conducted by a third party pursuant to a contractual, indemnification or other obligation in accordance with Environmental Law or such Company’s obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner Except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, Borrower shall at its sole expense: (i) not dispose of Mortgaged Property or otherwise Release, and shall cause each Subsidiary not useto dispose of or otherwise Release, storeany oil, handle or install nor permit to be usedoil and gas waste, handled or installed in the Mortgaged Property any Hazardous Materials, or solid waste on, under, about or from any of Borrower’s or its Subsidiaries’ properties or any other than property to the extent caused by Borrower’s or any of its Subsidiaries’ operations except in compliance with applicable Environmental Laws; (ii) timely obtain or file, and shall cause each Subsidiary to timely obtain or file, all notices, permits, licenses, exemptions, approvals, registrations or other authorizations, if any, required under applicable Environmental Laws to be obtained or filed in all material respectsconnection with the operation or use of Borrower’s or its Subsidiaries’ properties; (iii) promptly commence and diligently prosecute to completion, and shall cause each Subsidiary to promptly commence and diligently prosecute to completion, any assessment, evaluation, investigation, monitoring, containment, cleanup, removal, repair, restoration, remediation or other remedial obligations (collectively, the “Remedial Work”) in the event and to the extent any Remedial Work is required or reasonably necessary under applicable Environmental Laws because of or in connection with the actual or suspected past, present or future disposal or other Release of any oil, oil and gas waste, Hazardous Materials or solid waste on, under, about or from any of Borrower’s or its Subsidiaries’ properties for which Borrower or its Subsidiaries is liable or otherwise required to undertake pursuant to Environmental Law; and (iv) establish and implement, and shall cause each Subsidiary to establish and implement, such procedures as may be necessary to determine and assure that Borrower’s and its Subsidiaries’ obligations under this Section 5.09(c) are timely and fully satisfied.
(d) Borrower will promptly, but in no event later than ten (10) business days after the occurrence thereof, notify the Administrative Agent in writing of any threatened action, investigation or inquiry by any Governmental Authority or any threatened demand or lawsuit by any landowner or other third party against Borrower or its Subsidiaries or their properties of which Borrower has knowledge in connection with any Environmental Laws (excluding routine testing and corrective action) if Borrower reasonably anticipates that such action will result in liability (whether individually or in the aggregate) in excess of $10.0 million, not fully covered by insurance, subject to normal deductibles.
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Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property, the failure to comply with which could reasonably be expected to result in a Material Adverse Effect; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property, which could reasonably be expected to result in a Material Adverse Effect if not obtained or renewed; and conduct all Responses required by, and in accordance with, Environmental Laws, the failure to conduct with which could reasonably be expected to result in a Material Adverse Effect; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 3.17 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 60 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Samples: Credit Agreement (Banta Corp)
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company Loan Party to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company Loan Party shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner owner, operator or lessee of Mortgaged Real Property shall not produce, generate, handle, use, store, handle or dispose, install nor permit to be produced, generated, handled, used, handled stored, disposed or installed in the Mortgaged such Real Property any Hazardous Materials, other than in compliance with applicable Environmental Laws and the terms of any lease, if applicable. Each Loan Party shall not release and shall not permit to be Released any Hazardous Material on, at or from any such Real Property that could reasonably be expected to result in all material respectsa Material Adverse Effect.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company Loan Party to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company Loan Party shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such CompanyLoan Party, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies Loan Parties commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws except where the failure to do so could not reasonably be expected to result in all material respectsa Material Adverse Effect.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct conduct, in all material respects, all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the reasonable written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such reasonable request, at the expense of Borrower, an environmental assessment report regarding the matters which that are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating where appropriate in light of the subject matter of the request the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company owned, operated or leased by the Borrower to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company the Borrower shall not be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies Borrower commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 forty-five (45) days after such request, at the expense of the Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that While the Borrower is an the owner of any Mortgaged Property Property, the Borrower shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respectsLaws.
Appears in 1 contract
Samples: Senior Secured Debtor in Possession Credit Agreement
Compliance with Environmental Laws; Environmental Reports. (a) ComplyEach Obligor shall and shall cause each of its Subsidiaries to (i) comply, and use commercially reasonable best efforts to cause all lessees and other persons occupying Real Property real property owned, operated or leased by any of any Company them to comply, in all material respects respects, with all Environmental Laws and Environmental Permits applicable to its operations and Real Propertyreal property; (ii) obtain and renew all material Governmental Approvals required under Environmental Permits necessary for Laws applicable to its operations and Real Propertyreal property; and (iii) conduct all Responses required by, and any Response in accordance with, with Environmental Laws, except where, in each case, the failure to do so would not reasonably be expected to result in a Material Adverse Effect; provided that no Company neither the Borrower nor any of its Subsidiaries shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 3.12 or Section 5.09(a5.12(a) shall have occurred and be continuing for more than 20 10 days without the Companies Borrower or its Subsidiaries commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, the Borrower shall provide to the Lenders within 45 30 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which that are the subject of such Default, including, including where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, and in the form and substance, substance reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Samples: Credit Agreement (Fei Co)
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons Persons occupying Real Property of any Company to comply, in all material respects comply with all Environmental Laws and Environmental Permits applicable to its operations operations, facilities and Real Property, except where failure to do so could not reasonably be expected to have a Material Adverse Effect; obtain and renew all material Environmental Permits necessary for applicable to its operations operations, facilities and Real Property, except where failure to do so could not reasonably be expected to have a Material Adverse Effect; and conduct all Responses responses required by, and in accordance with, Environmental Laws, except where failure to do so could not reasonably be expected to have a Material Adverse Effect; provided that no neither the Company nor any of its Restricted Subsidiaries shall be required to undertake any Response response to the extent that (i) its obligation to do so is being contested in good faith and and, as appropriate, by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 5.08 or Section 5.09(a6.09(a) shall have occurred and be continuing for more than 20 twenty (20) days without the Companies Company commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 forty-five (45) days after such request, at the expense of the Company or the Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially all reasonable efforts to cause all lessees and other persons occupying Real Property of owned or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, Borrower shall provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm andfirm, and in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not not, and shall take all reasonable efforts necessary to ensure that no other person shall, use, store, generate, handle or install nor permit to be usedRelease any Hazardous Material at, handled in, on, under or installed in the upon any Mortgaged Property any Hazardous Materials, other than except in full compliance with applicable Environmental Laws Law and in all a manner that is not likely to result in the assertion of any material respectsEnvironmental Claims against any Company or related to any Mortgaged Property.
Appears in 1 contract
Samples: Credit Agreement (Ionics Inc)
Compliance with Environmental Laws; Environmental Reports. (a) ComplyExcept as could not reasonably be expected to result in a Material Adverse Effect, (i) comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; (ii) obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and (iii) conduct all Responses required by, and in accordance with, Environmental Laws; provided PROVIDED that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a the Required Lenders or the Administrative Agent reasonably believes that Borrower may be in breach of Section SECTION 3.18 or Section SECTION 5.09(a) (without respect to materiality), and such breach shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 90 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, and in the form and substance, substance reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, storeand, handle or install nor permit to be used, handled or installed in the Mortgaged Property event that Borrower fails to take such action, the Administrative Agent or the Required Lenders may take such action, and any Hazardous Materials, other than in compliance with applicable actions reasonably prudent or required under Environmental Laws in all material respectsto address such matters.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respectsLaws, except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company Loan Party to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company Loan Party shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies Loan Parties commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 forty-five (45) days after such request, at the expense of the Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respectsLaws.
Appears in 1 contract
Samples: Senior Secured Debtor in Possession Credit Agreement (Delta Petroleum Corp/Co)
Compliance with Environmental Laws; Environmental Reports. (ai) Comply, and use commercially reasonable best efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental or Mining Permits applicable to its operations and Real Property, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect; obtain (ii) obtain, maintain in full force and effect and renew all material Environmental or Mining Permits necessary for applicable to its operations and Real Property, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect; (iii) promptly take all commercially reasonable actions necessary to cure any alleged violation or liability asserted by any Environmental Claim; (iv) perform all Reclamation, and obtain all related bonds or other financial guaranties, required by, and in all material respects in accordance with, Mining Laws; and (v) conduct all Responses required by, and in accordance with, Environmental Laws, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect; provided that no Company shall be required to cure any alleged violation or liability asserted by an Environmental Claim or undertake any Reclamation or Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 45 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the cost and expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, and in the form and substance, substance reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address themthem or the need for Reclamation.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle treat, dispose, install or install Release, nor permit to be used, handled stored, treated, disposed, installed or installed Released, in the Mortgaged Property any Hazardous Materials, other than in material compliance with applicable Environmental Laws Laws.
(d) To the extent not obtained before the date of this Agreement, promptly prepare and file all documents and information necessary to obtain, through transfer, reissuance or otherwise, and diligently pursue, all Environmental or Mining Permits from Sellers related to the Acquired Business and reasonably necessary for the continued operation of the Acquired Business as being conducted on the Closing Date.
(e) Deliver to the Administrative Agent as soon as practicable following receipt thereof, copies of all environmental audits, investigations, analyses and reports of any kind or character, and all written communications, with respect to any Environmental liability that, individually or in all material respectsthe aggregate, would reasonably be expected to result in a Material Adverse Effect; provided that the Administrative Agent agrees to work with the Companies to preserve any attorney-client privilege to which any of the foregoing is subject.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of or other property owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its such Response is being conducted by a third party pursuant to a contractual, indemnification or other obligation in accordance with Environmental Law or such Company’s obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner Except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, Borrower shall at its sole expense: (i) not dispose of Mortgaged Property or otherwise Release, and shall cause each Subsidiary not useto dispose of or otherwise Release, storeany oil, handle or install nor permit to be usedoil and gas waste, handled or installed in the Mortgaged Property any Hazardous Materials, or solid waste on, under, about or from any of the Borrower’s or its Subsidiaries’ properties or any other than Property to the extent caused by the Borrower’s or any of its Subsidiaries’ operations except in compliance with applicable Environmental Laws; (ii) timely obtain or file, and shall cause each Subsidiary to timely obtain or file, all notices, permits, licenses, exemptions, approvals, registrations or other authorizations, if any, required under applicable Environmental Laws to be obtained or filed in all material respectsconnection with the operation or use of the Borrower’s or its Subsidiaries’ properties; (iii) promptly commence and diligently prosecute to completion, and shall cause each Subsidiary to promptly commence and diligently prosecute to completion, any assessment, evaluation, investigation, monitoring, containment, cleanup, removal, repair, restoration, remediation or other remedial obligations (collectively, the “Remedial Work”) in the event and to the extent any Remedial Work is required or reasonably necessary under applicable Environmental Laws because of or in connection with the actual or suspected past, present or future disposal or other Release of any oil, oil and gas waste, Hazardous Materials or solid waste on, under, about or from any of the Borrower’s or its Subsidiaries’ properties for which Borrower or its Subsidiaries is liable or otherwise required to undertake pursuant to Environmental Law; and (iv) establish and implement, and shall cause each Subsidiary to establish and implement, such procedures as may be necessary to determine and assure that the Borrower’s and its Subsidiaries’ obligations under this Section 5.09(c) are timely and fully satisfied.
(d) Borrower will promptly, but in no event later than ten (10) business days after the occurrence thereof, notify the Administrative Agent in writing of any threatened action, investigation or inquiry by any Governmental Authority or any threatened demand or lawsuit by any landowner or other third party against Borrower or its Subsidiaries or their properties of which Borrower has knowledge in connection with any Environmental Laws (excluding routine testing and corrective action) if Borrower reasonably anticipates that such action will result in liability (whether individually or in the aggregate) in excess of $10.0 million, not fully covered by insurance, subject to normal deductibles.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons Persons occupying Real Property of any Company to comply, in all material respects comply with all Environmental Laws and Environmental Permits applicable to its operations operations, facilities and Real Property, except where failure to do so could not reasonably be expected to have a Material Adverse Effect; obtain and renew all material Environmental Permits necessary for applicable to its operations operations, facilities and Real Property, except where failure to do so could not reasonably be expected to have a Material Adverse Effect; and conduct all Responses responses required by, and in accordance with, Environmental Laws, except where failure to do so could not reasonably be expected to have a Material Adverse Effect; provided that no neither the Company nor any of its Restricted Subsidiaries shall be required to undertake any Response response to the extent that (i) its obligation to do so is being contested in good faith and and, as appropriate, by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 5.08 or Section 5.09(a6.09(a) shall have occurred and be continuing for more than 20 twenty (20) days without the Companies Company commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 forty-five (45) days after such request, at the expense of Borrowerthe Company or the Borrowers, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Samples: Senior Secured Asset Based Credit Agreement (LyondellBasell Industries N.V.)
Compliance with Environmental Laws; Environmental Reports. (a) ComplyExcept where failure to do so will not reasonably be expected to have a Material Adverse Effect, the Borrower will comply, and use commercially reasonable efforts to will cause all lessees and other persons occupying Real Property each of any Company its Restricted Subsidiaries to comply, in all material respects with all Environmental Laws Laws; obtain and renew all Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for its business facilities, operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental LawsLaws which, if not so conducted, could reasonably be expected to result in the creation of any Lien in favor of any Governmental Authority for (i) liability under Environmental Laws or (ii) damages arising from, or costs incurred by, such Governmental Authority in response to a Release or threatened Release of any Hazardous Material into the Environment; provided that no Company neither the Borrower, nor any of its Restricted Subsidiaries shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse EffectIFRS.
(b) If a an Event of Default caused by reason that results in the Release of Hazardous Materials or is otherwise a breach of Section 3.18 or Section 5.09(a8.06(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws45 days, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, the Borrower or any of its Subsidiaries shall provide to the Lenders within 45 90 days after such requestrequest (or such longer period as may be agreed by the Administrative Agent in its sole discretion), at the expense of the Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater samplinga report, prepared by an a reputable environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating (subject to Required Lenders Negative Consent), with respect to each Mortgaged Property with respect to which a breach of Section 8.06(a) has occurred, describing the presence or absence Release of Hazardous Materials or the breach of Section 8.06(a) and any related adverse impacts, and the estimated cost of any compliance or Response that may be required pursuant to Environmental Laws to address themsuch Release or breach of Section 8.06(a) and related adverse impacts.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Algoma Steel Group Inc.)
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental LawsDefault, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of BorrowerBorrowers, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, any soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respectsLaws.
Appears in 1 contract
Samples: Credit Agreement (MagnaChip Semiconductor LTD (United Kingdom))
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of or other property owned, operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its such Response is being conducted by a third party pursuant to a contractual, indemnification or other obligation in accordance with Environmental Law or such Company’s obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner Except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, Borrower shall at its sole expense: (i) not dispose of Mortgaged Property or otherwise Release, and shall cause each Subsidiary not useto dispose of or otherwise Release, storeany oil, handle or install nor permit to be usedoil and gas waste, handled or installed in the Mortgaged Property any Hazardous Materials, or solid waste on, under, about or from any of Borrower’s or its Subsidiaries’ properties or any other than property to the extent caused by Borrower’s or any of its Subsidiaries’ operations except in compliance with applicable Environmental Laws; (ii) timely obtain or file, and shall cause each Subsidiary to timely obtain or file, all notices, permits, licenses, exemptions, approvals, registrations or other authorizations, if any, required under applicable Environmental Laws to be obtained or filed in all material respectsconnection with the operation or use of Borrower’s or its Subsidiaries’ properties; (iii) promptly commence and diligently prosecute to completion, and shall cause each Subsidiary to promptly commence and diligently prosecute to completion, any assessment, evaluation, investigation, monitoring, containment, cleanup, removal, repair, restoration, remediation or other remedial obligations (collectively, the “Remedial Work”) in the event and to the extent any Remedial Work is required or reasonably necessary under applicable Environmental Laws because of or in connection with the actual or suspected past, present or future disposal or other Release of any oil, oil and gas waste, Hazardous Materials or solid waste on, under, about or from any of Borrower’s or its Subsidiaries’ properties for which Borrower or its Subsidiaries is liable or otherwise required to undertake pursuant to Environmental Law; and (iv) establish and implement, and shall cause each Subsidiary to establish and implement, such procedures as may be necessary to determine and assure that Borrower’s and its Subsidiaries’ obligations under this Section 5.09(c) are timely and fully satisfied.
(d) Borrower will promptly, but in no event later than ten (10) business days after the occurrence thereof, notify the Administrative Agent in writing of any threatened action, investigation or inquiry by any Governmental Authority or any threatened demand or lawsuit by any landowner or other third party against Borrower or its Subsidiaries or their properties of which Borrower has knowledge in connection with any Environmental Laws (excluding routine testing and corrective action) if Borrower reasonably anticipates that such action will result in liability (whether individually or in the aggregate) in excess of $10.0 million, not fully covered by insurance, subject to normal deductibles.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company Loan Party to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for its operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental Laws; provided that no Company Loan Party shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such CompanyLoan Party, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 3.17 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies Loan Parties commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws except where the failure to do so could not reasonably be expected to result in all material respectsa Material Adverse Effect.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons occupying Real Property of any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for applicable to its operations and Real Property; and conduct conduct, in all material respects, all Responses required by, and in accordance with, Environmental Laws; provided that no Company shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the reasonable written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such reasonable request, at the expense of Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating where appropriate in light of the subject matter of the request the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a1) ComplyExcept where failure to do so will not reasonably be expected to have a Material Adverse Effect, the Borrower will comply, and use commercially reasonable efforts to will cause all lessees and other persons occupying Real Property each of any Company its Restricted Subsidiaries to comply, in all material respects with all Environmental Laws Laws; obtain and renew all Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits necessary for its business facilities, operations and Real Property; and conduct all Responses required by, and in accordance with, Environmental LawsLaws which, if not so conducted, could reasonably be expected to result in the creation of any Lien in favor of any Governmental Authority for (i) liability under Environmental Laws or (ii) damages arising from, or costs incurred by, such Governmental Authority in response to a Release or threatened Release of any Hazardous Material into the Environment; provided that no Company neither the Borrower, nor any of its Restricted Subsidiaries shall be required to undertake any Response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so could not reasonably be expected to result in a Material Adverse EffectIFRS.
(b2) If a an Event of Default caused by reason that results in the Release of Hazardous Materials or is otherwise a breach of Section 3.18 or Section 5.09(a8.6(1) shall have occurred and be continuing for more than 20 days without the Companies commencing activities reasonably likely to cure such Default in accordance with Environmental Laws45 days, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, the Borrower or any of its Subsidiaries shall provide to the Lenders within 45 90 days after such requestrequest (or such longer period as may be agreed by the Administrative Agent in its sole discretion), at the expense of the Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater samplinga report, prepared by an a reputable environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating (subject to Required Lenders Negative Consent), with respect to each owned real property with respect to which a breach of Section 8.6(1) has occurred, describing the presence or absence Release of Hazardous Materials or the breach of Section 8.6(1) and any related adverse impacts, and the estimated cost of any compliance or Response that may be required pursuant to Environmental Laws to address themsuch Release or breach of Section 8.6(1) and related adverse impacts.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Compliance with Environmental Laws; Environmental Reports. (a) Comply, and use commercially reasonable efforts to cause all lessees and other persons Persons occupying Real Property of any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations operations, facilities and Real Property, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; obtain and renew all material Environmental Permits necessary for applicable to its operations operations, facilities and Real Property; and conduct all Responses responses required by, and in accordance with, Environmental Laws, subject to exceptions, limitations and other defenses to which the Debtors are entitled as a result of the Cases; provided that no neither the Company nor any of its Subsidiaries shall be required to undertake any Response response to the extent that (i) its obligation to do so is being contested in good faith and by proper proceedings and proceedings, (ii) appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP, (ii) such Response is being promptly GAAP and properly undertaken by a third party having adequate financial resources pursuant to a contractual obligation owed by such third party to such Company, or (iii) the failure to do so pendency of such contestment proceedings could not not, individually or in the aggregate, reasonably be expected to result in have a Material Adverse Effect.
(b) If a Default caused by reason of a breach of Section 3.18 5.08 or Section 5.09(a6.10(a) shall have occurred and be continuing for more than 20 twenty (20) days without the Companies Company commencing activities reasonably likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Required Lenders through the Administrative Agent, provide to the Lenders within 45 forty-five (45) days after such request, at the expense of the Company or the applicable Borrower, an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or Response response to address them.
(c) Each Loan Party that is an owner of Mortgaged Property shall not use, store, handle or install nor permit to be used, handled or installed in the Mortgaged Property any Hazardous Materials, other than in compliance with applicable Environmental Laws in all material respects.
Appears in 1 contract
Samples: Debtor in Possession Credit Agreement (Millennium Chemicals Inc)