Environmental Expenses Sample Clauses
The Environmental Expenses clause defines the responsibility for costs related to environmental compliance, remediation, or damages arising from a party’s activities. Typically, this clause specifies which party must pay for the investigation, cleanup, or mitigation of environmental contamination, and may include expenses such as regulatory fines, site assessments, or hazardous waste disposal. Its core function is to allocate financial responsibility for environmental risks, ensuring that parties are clear on who bears the costs associated with environmental issues that may arise during the course of the agreement.
Environmental Expenses. Notwithstanding the provisions of Section 8.05(a) and Section 8.05(b) above, expenses and other costs incurred in connection with compliance with any Environmental Laws applicable to the transactions contemplated hereby shall be paid by the party that after the Distribution Date will, or that this Agreement contemplates will, own the assets or operate the business subject to such Environmental Laws.
Environmental Expenses. If the Concession Holder incurs expenses as a consequence of correction of the effects of environmental situations already in existence as of the time of the Taking of Possession or any reconstruction deriving therefrom, any such expenses approved or authorized by ORSNA shall be deducted from the next royalty payment.
Environmental Expenses. In the event that the Borrowers fail in the Bank's reasonable discretion, to satisfactorily perform its obligations under subsection (d) above, the Bank, at its option and in its sole discretion may, but shall not be obligated to, cure any failure to take appropriate response actions. Any partial undertaking by the Bank to cure such failure shall not obligate the Bank to complete the actions taken or to expend further sums to cure such noncompliance. Any amounts paid or costs incurred by the Bank as a result of the above shall be a cost incurred for the protection of the real property owned or operated by the Borrower and shall be immediately due and payable and, until paid, shall be added to and become a part of the amounts secured by the Loan Documents securing the Loans.
Environmental Expenses. The term "Environmental Expenses" shall include any liability, loss, cost or expense including, without limitation, costs of investigation, cleanup, remedial or response action, the costs associated with posting financial assurances for the completion of response, remedial or corrective actions, the preparation of any closure or other necessary or required plans or analyses or other reports or analyses submitted to or prepared by regulating agencies, including the cost of health assessments, epidemiological studies and the like, retention of engineers and other expert consultants, legal counsel, capital improvements, operation and maintenance testing and monitoring costs, power and utility costs and pumping taxes or fees, and administrative costs incurred by governmental agencies.
Environmental Expenses. In the event that any Borrower fails in the Bank's sole discretion, to satisfactorily perform its obligations under subsection (d) above, the Bank, at its option and in its sole discretion may, but shall not be obligated to, cure any failure to take appropriate response actions. Any partial undertaking by the Bank to cure such failure shall not obligate the Bank to complete the actions taken or to expend further sums to cure such noncompliance. Any amounts paid or costs incurred by the Bank as a result of the above shall be a cost incurred for the protection of the Property and shall be immediately due and payable and, until paid, shall be added to and become a part of the amounts secured by the Mortgage and all other Loan Documents securing the Loans.
Environmental Expenses. Environmental Expenses" means any ---------------------- liability, loss, cost or expense incurred in compliance with any Environmental Laws or in response to Environmental Conditions, including, without limitation, costs of investigation, cleanup, remedial, corrective or response action, the costs associated with posting financial assurances for the completion of response, remedial or corrective actions, the preparation of any closure or other necessary or required plans or analyses, or other reports or analyses submitted to or prepared by regulating agencies, including the costs of health assessments, epidemiological or other medical studies, retention of engineers and other expert consultants, legal counsel, capital improvements, operation and maintenance testing and monitoring costs, power and utility costs and pumping taxes or fees, and administrative costs incurred by governmental agencies.
Environmental Expenses