Environmental Matters Agreement Clause Samples
An Environmental Matters Agreement clause sets out the responsibilities and obligations of the parties regarding environmental laws and issues related to the property or business involved in the contract. Typically, this clause requires one or both parties to disclose known environmental conditions, comply with applicable environmental regulations, and sometimes remediate any contamination. Its core function is to allocate risk and responsibility for environmental liabilities, ensuring that both parties are aware of and address potential environmental concerns that could affect the transaction or ongoing operations.
Environmental Matters Agreement. The Environmental Matters Agreement between Delphi Automotive Systems Corporation (n/k/a Delphi) and GM, dated as of “October 1998” (the “Environmental Matters Agreement”), attached hereto as Exhibit 5.01(a)(i); provided, however, that in light of the rejection of the Master Separation Agreement dated as of December 22, 1998 among Delphi Automotive Systems Corporation (n/k/a Delphi), DAS, Delphi Technologies, Inc. (“DTI”), and GM (the “Master Separation Agreement”), pursuant to section 5.01(d) of this Agreement, all references in the Environmental Matters Agreement to the Master Separation Agreement are deemed deleted, and any grammatical corrections necessary as a result of such deletions required to preserve the Parties’ original intent with respect to remaining provisions are deemed made;
Environmental Matters Agreement. All of the terms, conditions, and covenants set forth in the Environmental Matters Agreement attached as Exhibit C are incorporated into and made a part of this Lease.
Environmental Matters Agreement. Without the prior written consent of all the Lenders, the Borrower shall not agree to (i) any amendment, modification, waiver or termination of the Environmental Matters Agreement dated as of September 24, 1990 (the "Environmental Matters Agreement") between the Borrower and Honeywell Inc., a Delaware corporation ("Honeywell"), or any promissory note issued pursuant thereto, which such amendment, modification, waiver or termination could be materially adverse to the Lenders, or (ii) consent to the assignment by Honeywell of any or all of its rights or obligations under or pursuant to the Environmental Matters Agreement or any promissory note issued pursuant thereto. Promptly upon any request by the Required Lenders, the Borrower shall give any instruction or make any request for a loan or payment from or by Honeywell contemplated by Section 4.01 of the Environmental Matters Agreement.