Common use of Environmental Covenants Clause in Contracts

Environmental Covenants. Borrower covenants and agrees that so long as Borrower owns, manages and is in possession of the operation of the Property: (a) all uses and operations on or of the Property, whether by Borrower or any other Person, shall be in compliance with all Environmental Laws and permits issued pursuant thereto; (b) there shall be no Releases of Hazardous Materials in, on, under or from the Property; (c) there shall be no Hazardous Materials in, on, or under the Property, except those that are both (i) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (ii) (A) in amounts not in excess of that necessary to operate the Property for the purposes set forth herein or (B) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Property; (d) Borrower shall keep the Property free and clear of all Environmental Liens;

Appears in 3 contracts

Samples: Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc)

AutoNDA by SimpleDocs

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the PropertyProperties, whether by Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from any of the PropertyProperties; (ciii) there shall be no Hazardous Materials in, on, or under any of the PropertyProperties, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the applicable Individual Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property Properties free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other Person (the "Environmental Liens");

Appears in 3 contracts

Samples: Loan Agreement (Summit Hotel Properties LLC), Loan Agreement (Felcor Lodging Trust Inc), Loan Agreement (Felcor Lodging Trust Inc)

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the PropertyProperties, whether by Mortgage Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from any of the PropertyProperties; (ciii) there shall be no Hazardous Materials in, on, or under any of the PropertyProperties, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the applicable Individual Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall cause Mortgage Borrower to keep the Property Properties free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Mortgage Borrower or any other Person (the "Environmental Liens");

Appears in 2 contracts

Samples: Junior Mezzanine Loan Agreement (Felcor Lodging Trust Inc), Mezzanine Loan Agreement (Felcor Lodging Trust Inc)

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the PropertyProperties, whether by Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from any of the PropertyProperties; (ciii) there shall be no Hazardous Materials in, on, or under any of the PropertyProperties, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the applicable Individual Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property Properties free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other Person (the “Environmental Liens;”); (v) Borrower shall, at its sole cost and expense, fully and expeditiously cooperate in all activities pursuant to paragraph (b) below, including but not limited to providing all relevant information and making knowledgeable persons available for interviews; (vi) Borrower shall, at its sole cost and expense, perform any

Appears in 1 contract

Samples: Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the PropertyProperties, whether by Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from any of the PropertyProperties; (ciii) there shall be no Hazardous Materials in, on, or under any of the PropertyProperties, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the applicable Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property Properties free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other Person (the "Environmental Liens");

Appears in 1 contract

Samples: Loan Facility Agreement (Felcor Lodging Trust Inc)

Environmental Covenants. Borrower covenants and agrees that so long as the Borrower owns, manages and manages, is in possession of of, or otherwise controls the operation of the Property: (a) all uses and operations on or of the Property, whether by Borrower or any other Personperson, shall be substantially in compliance with all Environmental Laws and permits issued pursuant thereto; (b) there shall be no Releases of Hazardous Materials Substances in, on, under or from the Property; (c) there shall be no Hazardous Materials Substances in, on, or under the Property, except those that are both (i) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (ii) (A) in amounts not in excess of that necessary to operate the Property for the purposes set forth herein or (B) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Property; (d) Borrower shall keep the Property free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other person (the "Environmental Liens");

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Assignment of Production and Fixture Filing (Cubic Energy Inc)

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the Property, whether by Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from the Property; (ciii) there shall be no Hazardous Materials in, on, or under the Property, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other Person (the "Environmental Liens");

Appears in 1 contract

Samples: Loan Agreement (Felcor Lodging Trust Inc)

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the Property, whether by Borrower or any other Person, shall be in compliance with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from the Property; (ciii) there shall be no Hazardous Materials in, on, or under the Property, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other Person (the “Environmental Liens”);

Appears in 1 contract

Samples: Loan Agreement (CaliberCos Inc.)

AutoNDA by SimpleDocs

Environmental Covenants. Borrower covenants and agrees that so long as that: (i) Borrower ownsshall use and operate (and shall use commercially reasonable efforts to cause all tenants, manages invitees and is in possession of other parties having access to the operation of Premises to use and operate) the Property: (a) all uses and operations on or of the Property, whether by Borrower or any other Person, shall be Property in compliance with all Environmental Laws and permits issued pursuant theretorequired permits; (bii) there it shall be no use all reasonable efforts to prevent Releases of Hazardous Materials in, on, under on or from in the Propertyoperation of the Property in violation of Environmental Laws; (ciii) there shall be no Hazardous Materials inon or in the operation of the Property except (A) routine office, oncleaning and janitorial supplies, or under the Property, except those that are both (iB) in compliance with all Environmental Laws and Laws, (C) in compliance with permits issued pursuant thereto, if and to the extent requiredall required permits, and (iiD) (A1) in only the amounts not in excess of that necessary to operate the Property for the purposes set forth herein or (B2) as shall have been fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property free and clear of all liens and encumbrances imposed by any Environmental Laws due to any act or omission by Borrower or any person (the “Environmental Liens”);

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the PropertyProperties, whether by Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) there shall be no Releases of Hazardous Materials in, on, under or from any of the PropertyProperties; (ciii) there shall be no Hazardous Materials in, on, or under any of the PropertyProperties, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the applicable Individual Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep the Property Properties free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or omission of Borrower or any other Person (the “Environmental Liens;”); (v) Borrower shall, at its sole cost

Appears in 1 contract

Samples: Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Environmental Covenants. Borrower covenants and agrees that so long as Borrower owns, manages and is in possession of the operation of the Property: (a) all uses and operations on or of the Property, whether by Borrower or any other Person, shall be in compliance with all Environmental Laws and permits issued pursuant thereto; (b) there shall be no Releases of Hazardous Materials in, on, under or from the Property; (c) there shall be no Hazardous Materials in, on, or under the Property, except those that are both (i) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (ii) (A) in amounts not in excess of that necessary to operate the Property for the purposes set forth herein or (B) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety safely or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Property; (d) Borrower shall keep the Property free and clear of all Environmental Liens;

Appears in 1 contract

Samples: Loan Agreement (Inland Western Retail Real Estate Trust Inc)

Environmental Covenants. (a) Borrower covenants and agrees that so long as Borrower owns, manages and the Loan is in possession of the operation of the Property: outstanding (ai) all uses and operations on or of the PropertyProperties, whether by Borrower or any other Person, shall be in compliance in all material respects with all Environmental Laws and permits issued pursuant thereto; (bii) unless Borrower or Tenant is diligently pursuing remediation in accordance with the notice required to be delivered pursuant to Section 5.1.19(a)(ix) hereof, there shall be no Releases of Hazardous Materials in, on, under or from any of the PropertyProperties; (ciii) there shall be no Hazardous Materials in, on, or under any of the PropertyProperties, except those that are both (iA) in compliance with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (iiB) (A1) in amounts not in excess of that necessary to operate the applicable Individual Property for the purposes set forth herein or (B2) fully disclosed to and approved by Lender in writing or (C) with respect to Mold, not in a condition, location, or of a type which may pose a risk to human health or safety or the environment or which may result in damage to or would adversely affect or impair the value or marketability of the Propertywriting; (div) Borrower shall keep (or cause to be kept) the Property Properties free and clear of all Environmental Liens;liens and other encumbrances

Appears in 1 contract

Samples: Loan Agreement (Spirit Finance Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!