Environmental Event Clause Samples
Environmental Event. (a) The Company shall promptly, but in any case within five (5) Business Days of receiving actual notice thereof, notify the Collateral Trustee and each Bondholder if, after the date of this Agreement, (A) any environmental event has occurred or any environmental condition is discovered in, on, beneath, from or involving the Project or any part thereof (including, but not limited to, the presence, emission or Release of Contaminants or the violation of any applicable Environmental Requirements) that could reasonably be expected to result in Environmental Damages in excess of $100,000, or (B) the Company has received notification that it, the Project or any part thereof is the subject of a claim or proceeding that could reasonably be expected to result in any ordered remediation or corrective action or other liability or obligation, which liability or obligation could reasonably be expected to result in Environmental Damages in excess of $100,000 (each of (A) and (B) an “Environmental Event”).
(b) Following the receipt of a notice pursuant to paragraph (a) above in which the liability or obligation could reasonably be expected to result in Environmental Damages in excess of $10,000,000, the Collateral Trustee may, but is not obligated to, or shall at the direction of the Majority Holders, require the Company to conduct, or cause to be conducted, an environmental review of the Project by BMI Environmental Services, LLC, a Mississippi corporation, or a nationally recognized environmental consultant with expertise in the required environmental review, the scope of which audit shall be limited to confirming the magnitude and anticipated cost of the liability or obligation resulting from the Environmental Event and to provide a copy of such environmental consultant’s report on its review to the Collateral Trustee and each Bondholder.
(c) The Company shall immediately initiate, or cause to be initiated at no cost to the Collateral Trustee, the Issuer or any Bondholder, such actions as may be necessary to comply in all respects with all applicable Environmental Requirements and to alleviate any significant risk to human health or the environment if the same arises from a condition on or in respect of the Project or any part thereof, whether existing prior to, on or after the date of this Agreement. Once the Company commences such actions, the Company shall thereafter diligently and expeditiously proceed to comply materially and in a timely manner with all Environm...
Environmental Event. MEDC has no knowledge of any Environmental Event affecting the Complex Site that has occurred since MEDC obtained fee title to the Land from the predecessor owner or any off-site land on which MEDC expects Owner to construct infrastructure improvements related to, or for, the Complex Site.
Environmental Event. (a) The Lessee shall promptly, but in any case within five Business Days, notify the Lessor and the Agent if (i) any environmental event has occurred or any environmental condition is discovered in, on, beneath, from or involving the Property or any part thereof (including, but not limited to, the presence, emission or release of Hazardous Materials or the violation of any applicable Environmental Law) for which a remediation or reporting could reasonably be required or (ii) the Lessee has received notification that it, the Lessor, the Property or any part thereof is the subject of an Environmental Action that could reasonably be expected to result in any ordered remediation or corrective action or other liability (each of (i) and (ii) an "Environmental Event").
Environmental Event. Promptly after receipt thereof by the Borrower or any Subsidiary of the Borrower, a copy of (a) any notice or claim to the effect that the Borrower or any of its Subsidiaries is or may be liable to any Person as a result of the release by the Borrower, any of its Subsidiaries, or any other Person of any Hazardous Materials into the environment, and (b) any notice alleging any violation of any Environmental Law by the Borrower or any of its Subsidiaries, which in the case of either (a) or (b) above could reasonably be expected to have a Material Adverse Effect.
Environmental Event. An Environmental Event shall occur;
Environmental Event. Any (a) receipt by the Borrower of any notice or claim from any Governmental Authority of any violation of any Environmental Law by the Borrower or of any action against the Borrower based upon nuisance, negligence or other tort theory alleging liability on the basis of improper generation, storage, disposal, removal, transportation or treatment of Hazardous Substances on, at or from the Project Location by Borrower; or (b) presence or release by the Borrower of Hazardous Substances at, from or upon any of the property described in clause (a) above that has resulted in any contamination or deterioration of any portion of such property or any other affected property resulting in a level of contamination greater than the levels permitted or established by any Governmental Authority having jurisdiction over the Borrower or any of such property. Environmental Laws. Any and all federal, foreign, state, local and other governmental statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, licenses, or other governmental restrictions relating to the environment or the release of any materials into the environment.
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Environmental Event. If Borrower or any of its Subsidiaries shall have entered into any consent or settlement decree or agreement or similar arrangement with a governmental authority or any judgment, order, decree or similar action shall have been entered against Borrower or any of its Subsidiaries, in each case based on or arising from the violation of or pursuant to any Environmental Law, or the generation, storage, transportation, treatment, disposal or Release of any Hazardous Material and, in connection with all the foregoing, Borrower and its Subsidiaries are likely to incur Environmental Liabilities and Costs which would have a Material Adverse Effect.
Environmental Event. The Borrower or any other person breaches an Environmental Law or Authorisation and, in the reasonable opinion of Westpac NZ, that breach may have a Material Adverse Effect on or cause a claim or demand to be made against the Borrower or assets of the Borrower by a Governmental Agency or any other person requiring either:
i) the cessation or modification of any activities being, or proposed to be, conducted by the Borrower; or
ii) the carrying out of, or demand for payment for, any clean up, rehabilitation or remediation of any assets of the Borrower;
Environmental Event. (a) Except for the matters referenced in the Disclosed Information, the Lessee shall promptly, but in any case within five (5) Business Days, notify the Lessor, the Agent and the Purchasers if (i) any environmental event has occurred or any environmental condition is discovered in, on, beneath, from or involving the Property or any part thereof (including, but not limited to, the presence, emission or release of Hazardous Materials or the violation of any applicable Environmental Law) that could reasonably be anticipated to result in penalties or other liabilities in excess of $125,000, or (ii) the Lessee has received notification that it, the Property or any part thereof is the subject of an Environmental Action that could reasonably be expected to result in any ordered remediation or corrective action or other liability related to an environmental event or condition the cost of which liability is reasonably expected to exceed $125,000 (each of (i) and (ii) an "ENVIRONMENTAL EVENT").
(b) Following the receipt of a notice pursuant to (a) above, the Lessor, the Agent, the Holders of the B-Notes and the Certificate Holders, shall discuss with Lessee the Lessee's anticipated response to such Environmental Event and, in each case in their sole discretion, may require the Lessee to conduct, or cause to be conducted, an environmental audit of the Property, the scope of which audit shall be limited to confirming the magnitude and anticipated cost of the liability