Environmental Matters; Compliance with Laws. (a) The Borrower, the Guarantor, and each of its Subsidiaries, shall: (i) immediately notify the Bank (and any other person that Borrower, any Guarantor or any Subsidiary is required to notify pursuant to any applicable laws) once it is aware of a Release or threatened Release of Hazardous Substances on, from, or near any of the Premises which might cause Contamination; (ii) immediately notify the Bank once an environmental investigation or clean-up proceeding is instituted by any Person in connection with the Premises; (iii) fully comply with and assist with any such environmental investigation and clean-up proceeding; (iv) promptly execute and complete any Remedial Actions necessary to ensure that the Premises are in compliance with all applicable laws and free from Contamination, and to ensure that no environmental liens or encumbrances are levied against or exist with respect to the Premises, and provide the Bank with a certification from each agency having jurisdiction that such Remedial Actions have been completed to all such agencies’ satisfaction; (v) immediately notify the Bank of any citation, notification, complaint, or violation which the Borrower, any Guarantor or any Subsidiary receives from any Person which relates to or pertains to the making, storing, handling, treating, disposing, generating, transporting or Release of any Hazardous Substances; (vi) promptly upon the written request of the Bank, provide the Bank, from time to time, with an environmental site assessment or report, in form and substance satisfactory to the Bank, or at the Bank’s option, permit the Bank, its agents, and other representatives, to enter into any property owned or used by the Borrower in order to make such report or assessment, and at such other times and as often as the Bank may reasonably request, the Borrower will make available at its offices to the Bank or its representatives such historical and operational information (including the results of all samples sent for analysis), correspondence with official bodies, and environmental reviews conducted prior to and after the Closing Date regarding the Premises as are within the possession, custody or control of the Borrower, the Guarantor or any Subsidiary or which are reasonably available to it, and will make appropriate personnel employed by the Borrower having knowledge of such matters available for meetings with the Bank or its representatives; and (vii) comply, and cause all properties, assets, and operations owned or used by the Borrower, Guarantor and its Subsidiaries to comply, with all applicable federal, state, local and other environmental, zoning, occupational safety, health, employment, discrimination, labor and other laws and regulations. (b) If the Borrower or the Guarantor, as applicable, shall fail to fully execute and complete any requisite Remedial Action, the Bank may, but is not obligated to, make advances or payments toward performance or satisfaction of such Remedial Actions. (c) If the Bank acquires equitable or legal title to any of the Premises hereunder or under the Loan Documents, the Bank does not accept and shall not bear (nor shall any assignee or transferee of the Bank accept or bear) any responsibility for any Hazardous Substances in or about the Premises or for the actual or threatened Release thereof from the Premises. No provisions of the Loan Documents shall be interpreted to absolve or release the Borrower, Guarantor or any Subsidiary from any liability or responsibility which they may have to any Person, under any local, state or federal statute or regulation, for Remedial Actions with respect to any such Hazardous Substances or for the actual or threatened Release of any such Hazardous Substances. (d) If any action or claim is brought by the Environmental Protection Agency or any other regulatory agency against the Borrower, Guarantor, any Subsidiary or the Premises arising from the presence in, or about the Premises, of Hazardous Substances or from the actual or threatened Release of such Hazardous Substances, the Borrower shall immediately provide the Bank, as the Bank deems necessary, with a bond, in form and substance satisfactory to the Bank, against any and all damages or liabilities that may arise from any such action or claim. (e) The Borrower shall defend, indemnify the Bank and hold the Bank harmless from and against all loss, liability, damage, cost, and expense, including without limitation, reasonable attorneys’ fees, fines, or other civil and criminal penalties or payments, for failure of the Premises, the Collateral or any other operations, assets or property owned or used by the Borrower, Guarantor or its Subsidiaries to comply in all respects with all environmental and other laws, caused, in whole or in part, regardless of fault, by the Borrower, by the Guarantor, by any Subsidiary, or by any past, present or future owner, occupier, tenant, subtenant, licensee, guest or other person. The provisions of this Section 9.10(e) shall survive payoff, release, foreclosure, or other disposition of this Agreement, the Premises, the Collateral, or such other properties hereunder or otherwise. The Borrower shall remain liable hereunder regardless of any other provisions hereof which may limit the Borrower’s liability. (f) All sums advanced or paid by the Bank under this Section 9.10, including sums so advanced or paid in connection with any judicial or administrative investigation or proceeding relating thereto, and including, without limitation, reasonable attorneys’ fees, fines, or other penalties or payments, and all of the Borrower’s obligations to defend, indemnify and hold harmless the Bank, shall be deemed to be Advances under the Borrower’s Note and shall be at once repayable. The Borrower’s obligations with respect thereto shall be evidenced by, and shall bear interest at the highest rate provided in, the Borrower’s Note and shall be secured and guaranteed, as the case may be, by the Collateral Security Documents.
Appears in 1 contract
Environmental Matters; Compliance with Laws. (a) The Borrower, the Guarantor, and each of its Subsidiaries, Borrower shall:
(i) immediately notify the Bank Lender (and any other person that Borrower, any Guarantor or any Subsidiary Borrower is required to notify pursuant to any applicable laws) once it is aware of a Release or threatened Release of Hazardous Substances on, from, on or near any of from the Premises which Real Property that might cause Contamination;
(ii) immediately notify the Bank Lender once an environmental investigation or clean-up proceeding is instituted by any Person in connection with the PremisesReal Property;
(iii) fully comply with and assist with any such environmental investigation and clean-up proceeding;
(iv) promptly execute and complete any Remedial Actions necessary to ensure that the Premises such properties are in compliance with all applicable laws and free from Contamination, and to ensure that no environmental liens or encumbrances are levied against or exist with respect to the PremisesReal Property, and provide the Bank Lender with a certification from each agency having jurisdiction that such Remedial Actions have been completed to all such agencies’ satisfaction;
(v) immediately notify the Bank Lender of any citation, notification, complaint, or violation which the Borrower, any Guarantor or any Subsidiary Borrower receives from any Person which relates to or pertains to the making, storing, handling, treating, disposing, generating, transporting or Release of any Hazardous Substances;
(vi) promptly upon the written request of Lender if there is a change in circumstances regarding the BankReal Property which Lender reasonably believes requires further environmental site assessments or reports, provide the BankLender, from time to time, with an environmental site assessment or report, in form and substance satisfactory to the BankLender, or at the BankLender’s option, permit the BankLender, its agents, contractors and other representatives, to enter into any property owned or used by the Borrower Real Property in order to make such report or assessment, and at such other times and as often as the Bank Lender may reasonably request, the Borrower will make available at its offices to the Bank Lender or its representatives such historical and operational information (including the results of all samples sent for analysis), correspondence with official bodies, and environmental reviews conducted prior to and after the Closing Date date of this Agreement regarding the Premises Real Property as are within the possession, custody or control of the Borrower, the Guarantor or any Subsidiary Borrower or which are reasonably available to it, and will make appropriate personnel employed by the Borrower having knowledge of such matters available for meetings with the Bank Lender or its representatives; and
(vii) comply, and cause all properties, assets, and operations owned or used by the Borrower, Guarantor and its Subsidiaries Real Property to comply, with all applicable federal, state, local and other environmental, zoning, occupational safety, health, employment, discrimination, labor and other laws and regulations.
(b) If the Borrower or the Guarantor, as applicable, shall fail to fully execute and complete any requisite Remedial Action, the Bank may, but is not obligated to, make advances or payments toward performance or satisfaction of such Remedial Actions.
(c) If the Bank Lender acquires equitable or legal title to any of the Premises Real Property hereunder or under the Loan Documents, the Bank Lender does not accept and shall not bear (nor shall any assignee or transferee of the Bank Lender accept or bear) any responsibility for any Hazardous Substances in or about the Premises Real Property or for the actual or threatened Release thereof from the PremisesReal Property. No provisions of the Loan Documents shall be interpreted to absolve or release the Borrower, Guarantor or any Subsidiary Borrower from any liability or responsibility which they it may have to any Person, under any local, state or federal statute or regulation, for Remedial Actions with respect to any such Hazardous Substances or for the actual or threatened Release of any such Hazardous Substances.
(dc) If any action or claim is brought by the Environmental Protection Agency or any other regulatory agency against the Borrower, Guarantor, any Subsidiary or the Premises Borrower arising from the presence in, or about the PremisesReal Property, of Hazardous Substances or from the actual or threatened Release of such Hazardous Substances, the Borrower shall immediately provide the BankLender, as the Bank Lender deems necessary, with a bond, in form and substance satisfactory to the BankLender, against any and all damages or liabilities that may arise from any such action or claim.
(ed) The Borrower shall defend, indemnify the Bank Lender and hold the Bank Lender harmless from and against all loss, liability, damage, cost, and expense, including without limitation, reasonable attorneys’ fees, fines, or other civil and criminal penalties or payments, for failure of the Premises, the Collateral or any other operations, assets or property owned or used by the Borrower, Guarantor or its Subsidiaries Real Property to comply in all respects with all environmental and other laws, caused, in whole or in part, regardless of fault, by the Borrower, by the Guarantor, by any Subsidiary, or by any past, present or future owner, occupier, tenant, subtenant, licensee, guest or other person. The provisions of this Section 9.10(eParagraph 5.5(e) shall survive payoff, release, foreclosure, or other disposition of this Agreement, the PremisesReal Property, the Collateral, or such other properties hereunder or otherwise. The Borrower shall remain liable hereunder regardless of any other provisions hereof which may limit the Borrower’s liability.
(fe) All sums advanced or paid by the Bank Lender under this Section 9.10Subsection 5.4, including sums so advanced or paid in connection with any judicial or administrative investigation or proceeding relating thereto, and including, without limitation, reasonable attorneys’ fees, fines, or other penalties or payments, and all of the Borrower’s obligations to defend, indemnify and hold harmless the BankLender, shall be deemed to be Advances advances under the Borrower’s Note Notes and shall be at once repayable. The Borrower’s obligations with respect thereto shall be evidenced by, and shall bear interest at the highest default rate provided in, the Borrower’s Note Notes and shall be secured and guaranteed, as the case may be, by the Collateral Security Documents.
Appears in 1 contract
Samples: Loan Agreement (Unilife Corp)
Environmental Matters; Compliance with Laws. (a) The Borrower, the Guarantor, and each of its Subsidiaries, Each Company shall:
(i) immediately notify the Bank Lender (and any other person Person that Borrower, any Guarantor or any Subsidiary Company is required to notify pursuant to any applicable laws) once it is aware of a Release or threatened Release of Hazardous Substances on, from, or near any of the Premises properties owned or used by any Company which might cause Contamination;
(ii) immediately notify the Bank Lender once an environmental investigation or clean-up proceeding is instituted by any Person in connection with the Premisessuch properties;
(iii) fully comply with and assist with any such environmental investigation and clean-up proceeding;
(iv) promptly execute and complete any Remedial Actions necessary to ensure that the Premises such properties are in compliance with all applicable laws and free from Contamination, and to ensure that no environmental liens or encumbrances are levied against or exist with respect to the Premisessuch properties, and provide the Bank Lender with a certification from each agency having jurisdiction that such Remedial Actions have been completed to all such agencies’ ' satisfaction;
(v) immediately notify the Bank Lender of any citation, notification, complaint, or violation which the Borrower, any Guarantor or any Subsidiary Company receives from any Person which relates to or pertains to the making, storing, handling, treating, disposing, generating, transporting or Release of any Hazardous Substances;
(vi) promptly upon the written request of the BankLender, provide the BankLender, from time to time, with an environmental site assessment or report, in form and substance satisfactory to the BankLender, or at the Bank’s Lender's option, permit the BankLender, its agents, contractors and other representatives, to enter into any property owned or used by the Borrower any Company in order to make such report or assessment, and at such other times and as often as the Bank Lender may reasonably request, the Borrower each Company will make available at its offices to the Bank Lender or its representatives such historical and operational information (including the results of all samples sent for analysis), correspondence with official bodies, and environmental reviews conducted prior to and after the Closing Date regarding the Premises its properties as are within the possession, custody or control of the Borrower, the Guarantor or any Subsidiary Company or which are reasonably available to itthem, and will make appropriate personnel employed by the Borrower any Company having knowledge of such matters available for meetings with the Bank Lender or its representatives; and
(vii) comply, and cause all properties, assets, and operations owned or used by the Borrower, Guarantor and its Subsidiaries Company to comply, in all material respects, with all applicable federal, state, local and other environmental, zoning, occupational safety, health, employment, discrimination, labor and other laws and regulations.
(b) If the Borrower or the Guarantor, as applicable, any Company shall fail to fully execute and complete any requisite Remedial Action, the Bank Lender may, but is not obligated to, make advances or payments toward performance or satisfaction of such Remedial Actions.
(c) If the Bank Lender acquires equitable or legal title to any of the Premises hereunder or under the Loan Documents, the Bank Lender does not accept and shall not bear (nor shall any assignee or transferee of the Bank Lender accept or bear) any responsibility for any Hazardous Substances in or about the Premises or for the actual or threatened Release thereof from the Premises. No provisions of the Loan Documents shall be interpreted to absolve or release the Borrower, Guarantor or any Subsidiary Companies from any liability or responsibility which they may have to any Person, under any local, state or federal statute or regulation, for Remedial Actions with respect to any such Hazardous Substances or for the actual or threatened Release of any such Hazardous Substances.
(d) If any action or claim is brought by the Environmental Protection Agency or any other regulatory agency against the Borrower, Guarantor, any Subsidiary Company or the Premises arising from the presence in, or about the Premises, of Hazardous Substances or from the actual or threatened Release of such Hazardous Substances, the Borrower Companies shall immediately provide the BankLender, as the Bank Lender deems necessary, with a bond, in form and substance satisfactory to the BankLender, against any and all damages or liabilities that may arise from any such action or claim.
(e) The Borrower Each Company shall defend, indemnify the Bank Lender and hold the Bank Lender harmless from and against all loss, liability, damage, cost, and expense, including without limitation, reasonable attorneys’ ' fees, fines, or other civil and criminal penalties or payments, for failure of the Premises, the Collateral or any other operations, assets or property owned or used by the Borrower, Guarantor or its Subsidiaries such Company to comply in all respects with all environmental and other laws, caused, in whole or in part, regardless of fault, by the Borrower, by the Guarantor, by any Subsidiarysuch Company, or by any past, present or future owner, occupier, tenant, subtenant, licensee, guest or other person. The provisions of this Section 9.10(e5.5(e) shall survive payoff, release, foreclosure, or other disposition of this Agreement, the Premises, the Collateral, or such other properties hereunder or otherwise. The Borrower Companies shall remain liable hereunder regardless of any other provisions hereof which may limit the Borrower’s any Company's liability.
(f) All sums advanced or paid by the Bank Lender under this Section 9.105.5, including sums so advanced or paid in connection with any judicial or administrative investigation or proceeding relating thereto, and including, without limitation, reasonable attorneys’ ' fees, fines, or other penalties or payments, and all of the Borrower’s Companies' obligations to defend, indemnify and hold harmless the BankLender, shall be deemed to be Advances advances under the Borrower’s Note and shall be at once repayable. The Borrower’s Companies' obligations with respect thereto shall be evidenced by, and shall bear interest at the highest rate provided in, the Borrower’s Note Default Rate and shall be secured and guaranteed, as the case may be, by the Collateral Security Documents.
Appears in 1 contract
Samples: Construction Loan Agreement (Central Sprinkler Corp)
Environmental Matters; Compliance with Laws. (a) The Borrower, the Guarantor, and each of its Subsidiaries, shall comply, and cause all properties, assets, and operations owned or used by such Borrower and its Subsidiaries to comply, with (i) all Laws, including, without limitation, all Environmental Laws and all other applicable zoning, occupational safety, health, employment, discrimination, labor and other Laws and regulations, (ii) the provisions and requirements of all franchises, licenses, permits and certificates of compliance and approvals issued by Governmental Bodies and with other like grants of authority held by the Borrower or its Subsidiaries in connection with its business, and (iii) all applicable material decrees, orders and judgments.
(b) Borrower shall promptly notify the Lenders in reasonable detail once it is aware of any failure by the Borrower or its Subsidiaries to comply with or perform or any breach or violation by the Borrower or its Subsidiaries in respect of any of the matters compliance with which is required under Section 5.5(a).
(c) The Borrower shall:
(i) immediately notify the Bank Lender (and any other person that Borrower, any Guarantor or any Subsidiary the Borrower is required to notify pursuant to any applicable laws) once it is aware of a Release or threatened Release of Hazardous Substances on, from, or near any of the Premises properties owned or used by the Borrower which might cause Contamination;
(ii) immediately notify the Bank Lender once an environmental investigation or clean-up proceeding is instituted by any Person in connection with the Premisessuch properties;
(iii) fully comply with and assist with any such environmental investigation and clean-up proceeding;
(iv) promptly execute and complete any Remedial Actions necessary to ensure that the Premises are in compliance with all applicable laws and free from Contamination, and to ensure that no environmental liens or encumbrances are levied against or exist with respect to the Premises, and provide the Bank with a certification from each agency having jurisdiction that such Remedial Actions have been completed to all such agencies’ satisfaction;
(v) immediately notify the Bank Lender of any citation, notification, complaint, or violation which the Borrower, any Guarantor or any Subsidiary Borrower receives from any Person which relates to or pertains to the making, storing, handling, treating, disposing, generating, transporting or Release of any Hazardous Substances;
(viiv) promptly upon the written request of the Bank, provide the Bank, from time to time, with an environmental site assessment or report, in form and substance satisfactory to the Bank, or at the Bank’s optionLender, permit the BankLender, its agents, contractors and other representatives, to enter into any property owned or used by the Borrower in order to make such report or assessment, and at such other times and as often as the Bank Lender may reasonably request, the Borrower will make available at its their offices to the Bank Lender or its representatives such historical and operational information (including the results of all samples sent for analysis), correspondence with official bodies, and environmental reviews conducted prior to and after the Closing Date regarding the Premises its properties as are within the possession, custody or control of the Borrower, the Guarantor or any Subsidiary Borrower or which are reasonably available to it, and will and
(v) make appropriate personnel employed by the Borrower having knowledge of such matters available for meetings with the Bank Lender or its representatives; and
(viivi) comply, and cause all properties, assets, and operations owned or used by the Borrower, Guarantor and its Subsidiaries Borrower to comply, with all applicable federal, state, local and other environmental, zoning, occupational safety, health, employment, discrimination, labor and other laws and regulations.
(bd) If the Borrower or the Guarantor, as applicable, shall fail to fully execute and complete any requisite Remedial Action, the Bank Lender may, but is not obligated to, make advances or payments toward performance or satisfaction of such Remedial Actions.
(ce) If the Bank Lender acquires equitable or legal title to any of the Premises Borrower’s property as a result of enforcement of remedies hereunder or under the any other Loan DocumentsDocument, the Bank Lender does not accept and shall not bear (nor shall any assignee or transferee of the Bank Lender accept or bear) any responsibility for any Hazardous Substances in or about the Premises such property or for the actual or threatened Release thereof from the Premisessuch property. No provisions of the Loan Documents shall be interpreted to absolve or release the Borrower, Guarantor or any Subsidiary Borrower from any liability or responsibility which they may have to any Person, under any local, state or federal statute or regulation, for Remedial Actions with respect to any such Hazardous Substances or for the actual or threatened Release of any such Hazardous Substances.
(d) If any action or claim is brought by the Environmental Protection Agency or any other regulatory agency against the Borrower, Guarantor, any Subsidiary or the Premises arising from the presence in, or about the Premises, of Hazardous Substances or from the actual or threatened Release of such Hazardous Substances, the Borrower shall immediately provide the Bank, as the Bank deems necessary, with a bond, in form and substance satisfactory to the Bank, against any and all damages or liabilities that may arise from any such action or claim.
(ef) The Borrower shall defend, indemnify the Bank Lender and hold the Bank Lender harmless from and against all loss, liability, damage, cost, and expense, including without limitation, reasonable attorneys’ attorneys fees, fines, or other civil and criminal penalties or payments, for failure of the Premises, the Collateral or any other operations, assets or property owned or used by the Borrower, Guarantor or its Subsidiaries Borrower to comply in all respects with all environmental and other laws, caused, in whole or in part, regardless of fault, by the Borrower, by the Guarantor, by any Subsidiary, Borrower or by any past, past or present or future owner, occupier, tenant, subtenant, licensee, guest or other personperson provided, the Borrower shall not be liable for any loss, liability, damage, cost or expense under this Section 5.5(f) caused by the gross negligence or willful misconduct of the Lender. The provisions of this Section 9.10(e5.5(f) shall survive payoff, release, foreclosure, or other disposition of this Agreement, the Premises, the Collateral, or such other properties hereunder or otherwise. The Borrower shall remain liable hereunder regardless of any other provisions hereof which may limit the Borrower’s ’ liability.
(fg) All sums advanced or paid by the Bank Lender under this Section 9.105.5, including sums so advanced or paid in connection with any judicial or administrative investigation or proceeding relating thereto, and including, without limitation, reasonable attorneys’ fees, fines, or other penalties or payments, and all of the Borrower’s ’ obligations to defend, indemnify and hold harmless the BankLender, shall be deemed to be Advances advances under the Borrower’s Note Line of Credit and shall be at once repayable. The Borrower’s ’ obligations with respect thereto shall be evidenced by, and shall bear interest at the highest rate provided in, in the Borrower’s Line of Credit Note and shall be secured and guaranteed, as the case may be, by the Collateral Security Documents.
Appears in 1 contract
Environmental Matters; Compliance with Laws. (a) The Borrower, the Guarantor, and each of its Subsidiaries, shall:
(i1) immediately notify the Bank Lender (and any other person that Borrower, any Guarantor Borrower or any Subsidiary is required to notify pursuant to any applicable laws) once it is aware of a material Release or threatened material Release of Hazardous Substances on, from, or near any of the Premises properties owned or used by the Borrower which might cause Contamination;
(ii2) immediately notify the Bank Lender once an environmental investigation or clean-up proceeding is instituted by any Person in connection with the Premisessuch properties;
(iii3) fully comply with and assist with any such environmental investigation and clean-up proceeding;
(iv4) promptly execute and complete any Remedial Actions necessary to ensure that the Premises such properties are in material compliance with all applicable laws and free from Contamination, and to ensure that no environmental liens or encumbrances are levied against or exist with respect to the Premises, and provide the Bank with a certification from each agency having jurisdiction that such Remedial Actions have been completed to all such agencies’ satisfaction;
(v) immediately notify the Bank of any citation, notification, complaint, or violation which the Borrower, any Guarantor or any Subsidiary receives from any Person which relates to or pertains to the making, storing, handling, treating, disposing, generating, transporting or Release of any Hazardous Substances;
(vi) promptly upon the written request of the Bank, provide the Bank, from time to time, with an environmental site assessment or report, in form and substance satisfactory to the Bank, or at the Bank’s option, permit the Bank, its agents, and other representatives, to enter into any property owned or used by the Borrower in order to make such report or assessment, and at such other times and as often as the Bank may reasonably request, the Borrower will make available at its offices to the Bank or its representatives such historical and operational information (including the results of all samples sent for analysis), correspondence with official bodies, and environmental reviews conducted prior to and after the Closing Date regarding the Premises as are within the possession, custody or control of the Borrower, the Guarantor or any Subsidiary or which are reasonably available to it, and will make appropriate personnel employed by the Borrower having knowledge of such matters available for meetings with the Bank or its representativesproperties; and
(vii5) comply, and cause all properties, assets, and operations owned or used by the Borrower, Guarantor Borrower and its Subsidiaries to comply, in all material respects, with all applicable federal, state, local and other environmental, zoning, occupational safety, health, employment, discrimination, labor and other laws and regulations.
(b) If the Borrower or the Guarantor, as applicable, shall fail to fully execute and complete any requisite Remedial Action, the Bank may, but is not obligated to, make advances or payments toward performance or satisfaction of such Remedial Actions.
(c) If the Bank acquires equitable or legal title to any of the Premises hereunder or under the Loan Documents, the Bank does not accept and shall not bear (nor shall any assignee or transferee of the Bank accept or bear) any responsibility for any Hazardous Substances in or about the Premises or for the actual or threatened Release thereof from the Premises. No provisions of the Loan Documents shall be interpreted to absolve or release the Borrower, Guarantor or any Subsidiary from any liability or responsibility which they may have to any Person, under any local, state or federal statute or regulation, for Remedial Actions with respect to any such Hazardous Substances or for the actual or threatened Release of any such Hazardous Substances.
(d) If any action or claim is brought by the Environmental Protection Agency or any other regulatory agency against the Borrower, Guarantor, any Subsidiary or the Premises arising from the presence in, or about the Premises, of Hazardous Substances or from the actual or threatened Release of such Hazardous Substances, the Borrower shall immediately provide the Bank, as the Bank deems necessary, with a bond, in form and substance satisfactory to the Bank, against any and all damages or liabilities that may arise from any such action or claim.
(e) The Borrower shall defend, indemnify the Bank Lender and hold the Bank Lender harmless from and against all loss, liability, damage, cost, and expense, including without limitation, reasonable attorneys’ ' fees, fines, or other civil and criminal penalties or payments, for failure of the Premises, the Collateral or any other operations, assets or property owned or used by the Borrower, Guarantor Borrower or its Subsidiaries to comply in all respects with all environmental and other laws, caused, in whole or in part, regardless of fault, by the Borrower, by the Guarantor, by any Subsidiary, or by any past, present or future owner, occupier, tenant, subtenant, licensee, guest or other person. The provisions of this Section 9.10(e5.5(b) shall survive payoff, release, foreclosure, or other disposition of this Agreement, the Premises, the Collateral, or such other properties hereunder or otherwise. The Borrower shall remain liable hereunder regardless of any other provisions hereof which may limit the Borrower’s 's liability.
(f) All sums advanced or paid by the Bank under this Section 9.10, including sums so advanced or paid in connection with any judicial or administrative investigation or proceeding relating thereto, and including, without limitation, reasonable attorneys’ fees, fines, or other penalties or payments, and all of the Borrower’s obligations to defend, indemnify and hold harmless the Bank, shall be deemed to be Advances under the Borrower’s Note and shall be at once repayable. The Borrower’s obligations with respect thereto shall be evidenced by, and shall bear interest at the highest rate provided in, the Borrower’s Note and shall be secured and guaranteed, as the case may be, by the Collateral Security Documents.
Appears in 1 contract
Samples: Loan Agreement (Penn Engineering & Manufacturing Corp)