Common use of Covenants on Environmental Matters Clause in Contracts

Covenants on Environmental Matters. (a) Borrower shall (i) comply strictly and in all respects with applicable Environmental Laws; (ii) notify Administrative Agent immediately upon Borrower’s discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any Project; (iii) promptly remove such Hazardous Materials and remediate the applicable Project in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon the recommendations and specifications of an independent environmental consultant approved by Administrative Agent; and (iv) promptly forward to Administrative Agent copies of all orders, notices, permits, applications or other communications and reports in connection with any spill, discharge, release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect any Project or Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Cornerstone Core Properties REIT, Inc.), Loan Agreement (Cornerstone Core Properties REIT, Inc.)

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Covenants on Environmental Matters. (a1) Borrower shall (ia) comply strictly and in all respects with applicable Environmental Laws; (iib) notify the Administrative Agent immediately upon Borrower’s discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any the Project; (iiic) promptly remove or remediate such Hazardous Materials and remediate the applicable Project in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by the Administrative AgentAgent as necessary to comply with Environmental Laws; and (ivd) promptly forward to the Administrative Agent copies of all orders, notices, permits, applications or other communications and reports in connection with any spill, discharge, release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect any the Project or Borrower.

Appears in 2 contracts

Samples: Construction Loan Agreement, Construction Loan Agreement (Maguire Properties Inc)

Covenants on Environmental Matters. (a) Borrower shall, and shall cause the Operating Lessee and Manager to, (i) comply strictly and in all material respects with applicable Environmental Laws; (ii) notify Administrative Agent Lender immediately upon Borrower’s 's discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting the Property which Borrower is required to report, repair or remediate pursuant to any ProjectEnvironmental Laws; (iii) promptly remove such Hazardous Materials and remediate the applicable Project Property in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon the recommendations and specifications of an independent environmental consultant approved by Administrative AgentLaws; and (iv) promptly forward to Administrative Agent Lender copies of all orders, notices, permits, applications or other communications and reports in connection with any spill, discharge, release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect any Project the Property or Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Lasalle Hotel Properties), Loan Agreement (Lasalle Hotel Properties)

Covenants on Environmental Matters. (a1) Borrower shall (ia) comply strictly and in all material respects with applicable Environmental Laws; (iib) notify the Administrative Agent immediately upon Borrower’s 's discovery of any spill, discharge, release or presence Release of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any ProjectProperty in violation of any Environmental Law; (iiic) promptly remove such Hazardous Materials and remediate the applicable Project such Property in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by the Administrative Agent, except to the extent being contested in accordance with Section 8.11; and (ivd) promptly forward ------------ to the Administrative Agent copies of all orders, notices, permits, applications or other communications and reports made or received in connection with any spill, discharge, release Release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulationsMaterial, as they may affect any Project Property or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Center Trust Inc)

Covenants on Environmental Matters. (a1) Borrower shall (ia) comply strictly and in all respects with applicable Environmental Laws; (iib) notify the Administrative Agent immediately promptly upon Borrower’s discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any Project; (iiic) promptly remove such Hazardous Materials and remediate the applicable any Project in full compliance with applicable Environmental Laws or as reasonably required by Administrative Agent based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by the Administrative AgentAgent to the extent such recommendations and specifications are necessary to comply with applicable Environmental Laws; and (ivd) promptly forward to the Administrative Agent copies of all orders, notices, permits, applications or other communications and reports in connection with any spill, discharge, release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect any Project or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

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Covenants on Environmental Matters. (a1) Borrower shall (ia) comply strictly and in all material respects with applicable Environmental Laws; (iib) notify the Administrative Agent immediately upon Borrower’s 's discovery of any spill, discharge, release or presence Release of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any ProjectProperty in violation of any Environmental Law; (iiic) promptly remove such Hazardous Materials and remediate the applicable Project such Property in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by the Administrative Agent, except to the extent being contested in accordance with Section 8.11; and (ivd) promptly forward to the Administrative Agent copies of all orders, notices, permits, applications or other communications and reports made or received in connection with any spill, discharge, release Release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulationsMaterial, as they may affect any Project Property or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Center Trust Inc)

Covenants on Environmental Matters. (a1) Borrower shall (ia) comply strictly and in all respects with applicable Environmental Laws; (iib) notify the Administrative Agent immediately upon Borrower’s 's discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to within or otherwise affecting the Project (other than de minimis amounts not violating any ProjectEnvironmental Law); (iiic) promptly remove such Hazardous Materials and remediate the applicable Project in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by the Administrative Agent; and (ivd) promptly forward to the Administrative Agent copies of all orders, notices, permits, applications or other communications and reports in connection with any spill, discharge, release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect any the Project or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Metropolis Realty Trust Inc)

Covenants on Environmental Matters. (a) 5.3.1 Each Borrower shall (ia) comply strictly and in all respects with applicable Environmental Laws; (iib) notify Administrative Agent immediately upon such Borrower’s discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any Project; (iiic) promptly remove such Hazardous Materials and remediate the applicable such Project in full compliance with Environmental Laws or as reasonably required by Administrative Agent based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by Administrative Agent; and (ivd) promptly forward to Administrative Agent copies of all orders, notices, permits, applications or other communications and reports in connection with any spill, discharge, release or the presence of any Hazardous Material or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect any Project or any Borrower.

Appears in 1 contract

Samples: Loan Agreement (Tarragon Corp)

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