Common use of Environmental Audit and related Reliance Letter Clause in Contracts

Environmental Audit and related Reliance Letter. The Lessor and the Agent shall have received an Environmental Audit for such Leased Property, which shall be conducted in accordance with ASTM standards and shall not include a recommendation for further investigation and is otherwise satisfactory to the Lessor and the Agent; and the firm that prepared the Environmental Audit for such Leased Property shall have delivered to the Lessor and the Agent a letter stating that the Lessor, the Agent and the Lenders may rely upon such firm's Environmental Audit of such Land, it being understood that the Lessor's and the Agent's acceptance of any such Environmental Audit shall not release or impair the Guarantor's or any Lessee's obligations under the Operative Documents with respect to any environmental liabilities relating to such Leased Property.

Appears in 2 contracts

Samples: Master Agreement (Choicepoint Inc), Master Agreement (Choicepoint Inc)

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Environmental Audit and related Reliance Letter. The Lessor and the Agent shall have received an Environmental Audit for such Leased Property, which shall be conducted in accordance with ASTM standards Property showing that no Hazardous Materials are present and shall not include a recommendation for further investigation and is otherwise satisfactory to the Lessor and the Agent; and the firm that prepared the Environmental Audit for such Leased Property shall have delivered to the Lessor and the Agent a letter (substantially in the form of Exhibit F) stating that the Lessor, the Agent Agent, the Lease Participant and the Lenders may rely upon such firm's Environmental Audit of such Land, it being understood that the Lessor's and the Agent's acceptance of any such Environmental Audit shall not release or impair the Guarantor's or any Lessee's obligations under the Operative Documents with respect to any environmental liabilities relating to such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Choicepoint Inc)

Environmental Audit and related Reliance Letter. The Lessor and the Agent shall have received an Environmental Audit for such Leased Property, which shall be conducted in accordance with ASTM standards and shall not include a recommendation for further investigation and is otherwise satisfactory to the Lessor and the Agent; and the firm that prepared the Environmental Audit for such Leased Property shall have delivered to the Lessor and the Agent a letter stating that the Lessor, the Agent and the Lenders may rely upon such firm's ’s Environmental Audit of such Land, it being understood that the Lessor's ’s and the Agent's ’s acceptance of any such Environmental Audit shall not release or impair the Guarantor's ’s or any the Lessee's ’s obligations under the Operative Documents with respect to any environmental liabilities relating to such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Checkfree Corp \Ga\)

Environmental Audit and related Reliance Letter. The Lessor and the Agent shall have received an Environmental Audit for such Leased Property, which shall be conducted in accordance substantial compliance with ASTM standards and shall not include a recommendation for further investigation and is otherwise satisfactory to the Lessor and the Agent; and the firm that prepared the Environmental Audit for such Leased Property shall have delivered to the Lessor and the Agent a letter stating that the Lessor, the Agent and the Lenders may rely upon such firm's Environmental Audit of such Land, it being understood IT BEING UNDERSTOOD that the Lessor's and the Agent's acceptance of any such Environmental Audit shall not release or impair the Guarantor's or any Lessee's obligations under the Operative Documents with respect to any environmental liabilities relating to such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Allete Inc)

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Environmental Audit and related Reliance Letter. The Lessor Lessor, Administrative Agent and the Agent Lender shall have received sufficient copies of an Environmental Audit (from Terracon Consultants, Inc. or a firm selected by Lessor and Lender and acceptable to Lessee) for such the Leased Property, which shall be conducted in accordance with ASTM standards Property showing that no Hazardous Materials are present and shall not include a recommendation for further investigation and is otherwise satisfactory to the Lessor and the AgentLender; and the firm that prepared the Environmental Audit for such the Leased Property shall have delivered to the Lessor and the Lender and Administrative Agent a letter substantially in the form set forth on Exhibit C hereto stating that the each of Lessor, the Administrative Agent and the Lenders Lender may rely upon such firm's ’s Environmental Audit of such the Land, it being understood that the Lessor's and the Agent's acceptance of any such Environmental Audit shall not release or impair the Lessee’s or Guarantor's or any Lessee's ’s obligations under the Operative Documents with respect to any environmental liabilities relating to such the Leased Property.

Appears in 1 contract

Samples: Participation Agreement (Lennox International Inc)

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