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 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 the Project; (iii) promptly remove such Hazardous Materials and remediate 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 the Project or Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Windrose Medical Properties Trust), Loan Agreement (S/M Real Estate Fund Vii LTD/Tx)

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Covenants on Environmental Matters. (a) Borrower The Mortgagor shall (i) comply strictly and in all respects with applicable Environmental Laws; (ii) notify Lender the Mortgagee immediately upon Borrowerthe Mortgagor's discovery of any spill, discharge, release or presence of any Hazardous Material Substance at, upon, under, within, contiguous to or otherwise affecting the ProjectProperty; (iii) promptly remove such Hazardous Materials and remediate Substances located at, upon, under or within the Project Property so as to cause the same to be 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 LenderLaws; and (iv) promptly forward to Lender the Mortgagee 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 Substance or any other matters relating to the Environmental Laws or any similar laws or regulations, as they may affect the Project Mortgagor or Borrowerthe Property.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Polaroid Corp), Security Agreement and Fixture Filing (Polaroid Corp)

Covenants on Environmental Matters. (a) Borrower shall (i) i comply strictly and in all respects with applicable Environmental Laws; (ii) 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 the Project; (iii) iii promptly remove such Hazardous Materials and remediate 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) 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 the Project or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Griffin Land & Nurseries Inc)

Covenants on Environmental Matters. (a) Borrower shall, and shall cause Operating Lessee to, (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 the Project; (iii) promptly remove such Hazardous Materials and remediate 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 the Project Project, Borrower or BorrowerOperating Lessee.

Appears in 1 contract

Samples: Loan Agreement (Equity Inns Inc)

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Covenants on Environmental Matters. (a) Borrower and Operating Lessee shall (i1) comply strictly and in all respects with applicable Environmental Laws; (ii2) 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 the Projecta Project by Borrower or Operating Lessee; (iii3) promptly remove such Hazardous Materials and remediate the a Project in full compliance with Environmental Laws or as reasonably required by Lender based upon and in accordance with the recommendations and specifications of an independent environmental consultant approved by Lender; and (iv4) 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 the Project a Project, Borrower or BorrowerOperating Lessee.

Appears in 1 contract

Samples: Loan Agreement (American Retirement Corp)

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