Common use of Environmental Bond Clause in Contracts

Environmental Bond. ▇▇▇▇▇▇ agrees to provide a corporate surety bond or other security in an amount and in a form satisfactory to Lessor, in order to guarantee that Lessee will comply with its obligations under this Lease to comply with the Environmental Laws. Such security shall remain in full force and effect for a period after the termination of this Lease until a letter has been received from Lessor or the DEQ stating that ▇▇▇▇▇▇ has complied with the provision of this Lease relating to compliance with the Environmental Laws. The amount of the bond/security may be increased to an amount deemed sufficient by Lessor to cover Remedial Work if Lessee fails to comply with any provisions under Section 15, in addition to other available remedies under this Lease.

Environmental Bond. ▇▇▇▇▇▇ Lessee agrees to provide a corporate surety bond or other security in an amount and in a form satisfactory to Lessor, in order to guarantee that Lessee will comply with its obligations under this Lease to comply with the Environmental Laws. Such security shall remain in full force and effect for a period after the termination of this Lease until a letter has been received from Lessor or the DEQ stating that ▇▇▇▇▇▇ Lessee has complied with the provision of this Lease relating to compliance with the Environmental Laws. The amount of the bond/security may be increased to an amount deemed sufficient by Lessor to cover Remedial Work if Lessee fails to comply with any provisions under Section 15, in addition to other available remedies under this Lease.