Common use of Covenants on Environmental Matters Clause in Contracts

Covenants on Environmental Matters. 6.3.1 Borrower shall (i) comply strictly and in all respects with applicable Environmental Laws; (ii) notify Lender 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 Individual Property; (iii) promptly remove such Hazardous Materials and remediate any Individual Property in full compliance with Environmental Laws or as reasonably required by Lender based upon the recommendations and specifications of an independent environmental consultant approved by Lender; and (iv) promptly forward to 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 Individual Property or Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Equity Inns Inc), Loan Agreement (Equity Inns Inc), Loan Agreement (Equity Inns Inc)

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Covenants on Environmental Matters. 6.3.1 (a) Borrower shall (i) comply strictly and in all respects with applicable Environmental Laws; (ii) notify 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 any Individual PropertyProject; (iii) promptly remove such Hazardous Materials and remediate any Individual Property such Project in full compliance with Environmental Laws or as reasonably required by Lender based upon the recommendations and specifications of an independent environmental consultant approved by Lender; and (iv) promptly forward to 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 Individual Property Project or Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.)

Covenants on Environmental Matters. 6.3.1 Borrower (a) Borrowers shall (i) comply strictly and in all respects with applicable Environmental Laws; (ii) notify Lender Agent immediately upon any Borrower's ’s discovery of any spill, discharge, release or presence of any Hazardous Material at, upon, under, within, contiguous to or otherwise affecting any Individual PropertyProject; (iii) promptly remove such Hazardous Materials and remediate any Individual Property the applicable Project in full compliance with Environmental Laws or as reasonably required by Lender Agent based upon the recommendations and specifications of an independent environmental consultant approved by LenderAgent; and (iv) promptly forward to Lender 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 Individual Property Project or BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (CareTrust REIT, Inc.)

Covenants on Environmental Matters. 6.3.1 (a) Borrower shall (i) comply strictly and in all material respects with applicable Environmental Laws; (ii) notify Lender 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 Individual Propertythe Project; (iii) promptly remove such Hazardous Materials and remediate any Individual Property the Project in full compliance with Environmental Laws or as reasonably required by Lender based upon the recommendations and specifications of an independent environmental consultant approved by Lender; and (iv) promptly forward to 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 Individual Property the Project or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Cedar Income Fund LTD /Md/)

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Covenants on Environmental Matters. 6.3.1 (a) Borrower shall (i) comply strictly and in all respects with applicable Environmental Laws; (ii) notify 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 any Individual Propertythe Project; (iii) promptly remove such Hazardous Materials and remediate any Individual Property the Project in full compliance with Environmental Laws or as reasonably required by Lender based upon and in accordance with the reasonable recommendations and specifications of an independent environmental consultant approved by Lender; and (iv) promptly forward to 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 Individual Property the Project or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Meredith Enterprises Inc)

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