Environmental Compliance; Flood Insurance Sample Clauses

Environmental Compliance; Flood Insurance. (a) Except as set forth on Schedule 5.7 hereto or as could not reasonably be expected to have a Material Adverse Effect, each Borrower is in compliance with Environmental Laws and there are no outstanding citations, notices of violation or orders of non-compliance issued to any Borrower or relating to its business or Equipment under any Environmental Law.
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Environmental Compliance; Flood Insurance. (a) Except as set forth on Schedule 5.7 hereto, each Company is in compliance with, and its facilities, business, assets, property, leaseholds, Real Property and equipment are in compliance with the Federal Occupational Safety and Health Act and Environmental Laws and there are no outstanding citations, notices or orders of non-compliance issued to any Company or relating to its business, assets, property, leaseholds or equipment under any such laws, rules or regulations. (b) Except as set forth on Schedule 5.7 hereto, each Company has been issued all required federal, state and local licenses, certificates or permits (collectively, “Approvals”) relating to all applicable Environmental Laws and all such Approvals are current and in full force and effect. (c) Except as set forth on Schedule 5.7 hereto: (i) there have been no releases, spills, discharges, leaks or disposal (collectively referred to as “Releases”) of Hazardous Materials at, upon, under or migrating from or onto any Real Property owned, leased or occupied by any Company, except for those Releases which are in full compliance with Environmental Laws; (ii) there are no underground storage tanks or polychlorinated biphenyls on any Real Property owned, leased or occupied by any Company, except for such underground storage tanks or polychlorinated biphenyls that are present in compliance with Environmental Laws; (iii) the Real Property owned, leased or occupied by any Company has never been used by any Company to dispose of Hazardous Materials, except as authorized by Environmental Laws; and (iv) no Hazardous Materials are managed by Company on any Real Property including any premises owned, leased or occupied by any Company, excepting such quantities as are managed in accordance with all applicable manufacturer’s instructions and compliance with Environmental Laws and as are necessary for the operation of the commercial business of any Company or of its tenants. (d) All Real Property owned by Companies is insured pursuant to policies and other bonds which are valid and in full force and effect and which provide adequate coverage from reputable and financially sound insurers in amounts sufficient to insure the assets and risks of each such Company in accordance with prudent business practice in the industry of such Company. Each Company has taken all actions required under the Flood Laws and/or requested by Agent to assist in ensuring that each Cash Collateral Provider is in compliance with the Flo...
Sample 1
Environmental Compliance; Flood Insurance. (a) Except as set forth on Schedule 5.7 hereto or as could not reasonably be expected to have a Material Adverse Effect, each Specified Loan Party is in compliance with Environmental Laws and there are no outstanding citations, notices of violation or orders of non-compliance issued to any Specified Loan Party or relating to its business or Equipment under any Environmental Law.
Sample 1
Environmental Compliance; Flood Insurance. (a) Except as set forth on Schedule 5.7 hereto, each Company is in compliance with, and its facilities, business, assets, property, leaseholds, Real Property and equipment are in compliance with the Federal Occupational Safety and Health Act and Environmental Laws and there are no outstanding citations, notices or orders of non-compliance issued to any Company or relating to its business, assets, property, leaseholds or equipment under any such laws, rules or regulations. (b) Except as set forth on Schedule 5.7 hereto, each Company has been issued all required federal, state and local licenses, certificates or permits (collectively, “Approvals”) relating to all applicable Environmental Laws and all such Approvals are current and in full force and effect. 136 074658.21069/130240014v.3
Sample 1
Environmental Compliance; Flood Insurance. (a) The properties owned, leased or operated by each Credit Party and each Subsidiary thereof do not contain, and to their knowledge have not previously contained, any Hazardous Materials in quantities or conditions that could reasonably be expected to give rise to liability on the part of any Credit Party or any Subsidiary thereof or which constitute or constituted a violation of applicable Environmental Laws, except for such liability or violation that could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Sample 1
Environmental Compliance; Flood Insurance. 98 5.12 No Litigation, Violation, Indebtedness or Default; ERISA Compliance. 99
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Environmental Compliance; Flood Insurance. 90 5.8. Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance 91 5.9. Patents, Trademarks, Copyrights and Licenses 93 5.10. Licenses and Permits 93 5.11. Default of Indebtedness 93 5.12. No Default 93 5.13. No Burdensome Restrictions 93 5.14. No Labor Disputes 94 5.15. Margin Regulations 94 5.16. Investment Company Act 94 5.17. Disclosure 94 5.18. [Reserved] 94 5.19. Delivery of Subordinated Indebtedness Documents 94 5.20. Delivery of Closing Date Acquisition Agreement 94 5.21. Swaps 95 5.22. Business and Property of Loan Parties 95 5.23. Ineligible Securities 95 5.24. Federal Securities Laws 95 5.25. Equity Interests; Certificate of Beneficial Ownership 95 5.26. Commercial Tort Claims 96 5.27. Letter of Credit Rights 96 5.28. Material Contracts 96 VI. AFFIRMATIVE COVENANTS 96 6.1. Compliance with Laws 96 6.2. Conduct of Business and Maintenance of Existence and Assets 96 6.3. Books and Records 96 6.4. Payment of Taxes 96 6.5. Fixed Charge Coverage Ratio 97 6.6. Insurance 98 6.7. Payment of Indebtedness and Leasehold Obligations 100 6.8. Environmental Matters 100 6.9. Standards of Financial Statements 101 6.10. Federal Securities Laws 101 6.11. Execution of Supplemental Instruments 101 6.12. [Reserved] 101 6.13. Government Receivables 101 6.14. Keepwell 101 6.15. Post-Closing Deliveries 102 6.16. Certificate of Beneficial Ownership and Other Additional Information 102 6.17. COVID-19 Assistance 103 VII. NEGATIVE COVENANTS 103 7.1. Merger, Consolidation, Acquisition and Sale of Assets 103 7.2. Creation of Liens 105 7.3. Guarantees 105 7.4. Investments 106 7.5. Loans 106 7.6. Capital Expenditures 106 7.7. Dividends 106 7.8. Indebtedness 106 7.9. Nature of Business 106 7.10. Transactions with Affiliates 106 7.11. Leases 107 7.12. Subsidiaries 107 7.13. Fiscal Year and Accounting Changes 108 7.14. Pledge of Credit 108 7.15. Amendment of Certain Documents 108 7.16. Compliance with ERISA 108 7.17. Prepayment of Indebtedness 109 7.18. Subordinated Indebtedness 109 7.19. Sale and Leaseback 109 7.20. Membership / Partnership Interests 109 7.21. No Burdensome Restrictions 109 7.22. Limitation on Issuances of Equity Interests 110 7.23. Investment Company Act of 1940 110 VIII. CONDITIONS PRECEDENT 110 8.1. Conditions to Initial Advances 110 8.2. Conditions to Each Advance 114 IX. INFORMATION AS TO LOAN PARTIES 115 9.1. Disclosure of Material Matters 115 9.2. Schedules 115 9.3. Environmental Reports 115 9.4. Litigation 116 9.5. Material Occurrenc...
Sample 1
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Environmental Compliance; Flood Insurance. 118 5.12 Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance. 118 5.13 Patents, Trademarks, Copyrights and Licenses 120 5.14 Licenses, Permits and Accreditation 120 5.15 Default of Indebtedness 121 5.16 No Default. 121 5.17 No Burdensome Restrictions 121 5.18 No Labor Disputes 121 5.19 Margin Regulations 121 5.20 Investment Company Act 121 5.21 Disclosure 121 5.22 Swaps 122 5.23 Business and Property of Loan Parties 122 5.24 Ineligible Securities 122 5.25 Federal Securities Laws 122 5.26 Equity Interests 122 5.27 Commercial Tort Claims 123 5.28 Letter of Credit Rights 123 5.29 Material Contracts 123 5.30 Fraud and Abuse 123 5.31 Other Regulatory Protection 123 5.32 Reserved. 124 5.33 Delivery of Term Loan Documents. 124 5.34 Reserved. 124 5.35 EEA Financial Institution 124 5.36 Certificate of Beneficial Ownership. 124 5.37 Sanctions and other Anti-Terrorism Laws 124 6. AFFIRMATIVE COVENANTS. 125
Sample 1

Related to Environmental Compliance; Flood Insurance

  • Environmental Compliance The Borrower and its Subsidiaries conduct in the ordinary course of business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Borrower has reasonably concluded that such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

  • Flood Insurance With respect to each Mortgaged Property, obtain flood insurance in such total amount as the Administrative Agent or the Required Lenders may from time to time reasonably require, if at any time the area in which any improvements located on any Mortgaged Property is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended from time to time.

  • Standard Hazard and Flood Insurance Policies For each Mortgage Loan (other than a Cooperative Loan), the Master Servicer shall maintain, or cause to be maintained by each Servicer, standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. Pursuant to Section 4.01, any amounts collected by the Master Servicer, or by any Servicer, under any insurance policies maintained pursuant to this Section 9.16 or any Servicing Agreement (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the applicable Servicing Agreement) shall be deposited into the Collection Account, subject to withdrawal pursuant to Section 4.02. Any cost incurred by the Master Servicer or any Servicer in maintaining any such insurance if the Mortgagor defaults in its obligation to do so shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or such Servicer pursuant to Section 4.02.

  • Environmental Compliance and Reports Borrower shall comply in all respects with any and all Environmental Laws; not cause or permit to exist, as a result of an intentional or unintentional action or omission on Borrower's part or on the part of any third party, on property owned and/or occupied by Borrower, any environmental activity where damage may result to the environment, unless such environmental activity is pursuant to and in compliance with the conditions of a permit issued by the appropriate federal, state or local governmental authorities; shall furnish to Lender promptly and in any event within thirty (30) days after receipt thereof a copy of any notice, summons, lien, citation, directive, letter or other communication from any governmental agency or instrumentality concerning any intentional or unintentional action or omission on Borrower's part in connection with any environmental activity whether or not there is damage to the environment and/or other natural resources. Additional Assurances. Make, execute and deliver to Lender such promissory notes, mortgages, deeds of trust, security agreements, assignments, financing statements, instruments, documents and other agreements as Lender or its attorneys may reasonably request to evidence and secure the Loans and to perfect all Security Interests.

  • Standard Hazard Insurance and Flood Insurance Policies (a) For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicers under the related Servicing Agreements to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the related Servicing Agreements. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.

  • Environmental Compliance and Conditions Except as set forth on Schedule 3.16:

  • O.S.H.A. and Environmental Compliance (a) Each Borrower has duly complied with, and its facilities, business, assets, property, leaseholds, Real Property and Equipment are in compliance in all material respects with, the provisions of the Federal Occupational Safety and Health Act, the Environmental Protection Act, RCRA and all other Environmental Laws; there have been no outstanding citations, notices or orders of non-compliance issued to any Borrower or relating to its business, assets, property, leaseholds or Equipment under any such laws, rules or regulations.

  • Blanket Hazard Insurance Requirement Unless alternative coverage is provided pursuant to Section 16.3 hereunder, the Servicer must verify that each such Mortgaged Property is covered at all times by Hazard Insurance policy which provides blanket coverage for the individual units in the Condominium Project or PUD.

  • Environmental Law Compliance The use which the Borrower or any of its Restricted Subsidiaries intends to make of any real Property owned by it will not result in the disposal or other release of any Hazardous Substance or solid waste on or to such real Property in violation of any Environmental Law, except any such violation which is not, and would not reasonably be expected to cause, a Material Adverse Change. As used herein, the term "release" as used in this Section shall have the meanings specified in CERCLA (as defined in the definition of applicable Environmental Laws), and the terms "solid waste" and "disposal" shall have the meaning specified in RCRA (as defined in the definition of applicable Environmental Laws); provided, however, that if CERCLA or RCRA is amended so as to broaden or narrow the meaning of any term defined thereby, such broader or narrower meaning shall apply subsequent to the effective date of such amendment; and provided further, to the extent that any other law applicable to the Borrower, any of its Restricted Subsidiaries or any of their properties and assets establishes a meaning for "hazardous substance," "release," "solid waste," or "disposal" which is broader than that specified in either CERCLA or RCRA, such broader meaning shall apply. The Borrower and each Restricted Subsidiary agrees to indemnify and hold the Administrative Agent and each Lender harmless from and against, and to reimburse them with respect to, any and all claims, damages, losses, liabilities and expenses (including reasonable attorneys' fees and courts costs) asserted or awarded against or incurred by any of them by reason of or arising out of transactions contemplated by this Agreement and (a) the failure of the Borrower or any of its Restricted Subsidiaries to perform any obligation hereunder regarding asbestos or applicable Environmental Laws, (b) any violation by the Borrower or Restricted Subsidiary on or before the Release Date of any applicable Environmental Law in effect on or before the Release Date, and (c) any act, omission, event or circumstance existing or occurring on or prior to the Release Date, involving the presence on such real Property or release from such real Property of Hazardous Substances or solid wastes disposed of or otherwise released on or prior to the Release Date, resulting from or in connection with the ownership by the Borrower or any Restricted Subsidiary of the real Property, regardless of whether the act, omission, event or circumstance constituted a violation of any applicable Environmental Law at the time of its existence or occurrence, or whether the act, omission, event or circumstance is caused by or relates to the negligence of any indemnified Person; provided, that the Borrower shall not be under any obligation to indemnify the Administrative Agent or any Lender to the extent that any such liability arises as the result of the gross negligence or willful misconduct of such Person, as finally judicially determined by a court of competent jurisdiction. The provisions of this Section shall survive the Release Date and shall continue thereafter in full force and effect.

  • Periodic Review of Costs of Environmental Compliance In the ordinary course of its business, the Company conducts a periodic review of the effect of Environmental Laws on the business, operations and properties of the Company and its subsidiaries, in the course of which it identifies and evaluates associated costs and liabilities (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any permit, license or approval, any related constraints on operating activities and any potential liabilities to third parties). On the basis of such review and the amount of its established reserves, the Company has reasonably concluded that such associated costs and liabilities would not, individually or in the aggregate, result in a Material Adverse Change.

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