Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property. (ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged Property. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits. (iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) in the following situations:
Appears in 12 contracts
Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws (such as cleaning materials and other items used at the Mortgaged Property by Borrower, Manager or tenants thereof in each case in the ordinary course of business and in each case in compliance with, and in amounts not in excess of that permitted under, Environmental Laws) and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and Substances as required by applicable Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA)Laws, either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged Property. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) in the following situations:
Appears in 3 contracts
Samples: Loan Agreement (Digital Realty Trust, Inc.), Loan Agreement (Digital Realty Trust, Inc.), Loan Agreement (Digital Realty Trust, Inc.)
Environmental Matters; Inspection. (iA) Borrower Borrowers shall not knowingly permit any Hazardous Substances Materials to be present on or on, under or to emanate from any of the Mortgaged PropertyProperties, or migrate from adjoining property controlled by any Borrower onto or into any of the Mortgaged PropertyProperties, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances Materials are present on, under or emanate from any of the Mortgaged PropertyProperties, or migrate onto or into any of the Mortgaged PropertyProperties, Borrower Borrowers shall cause the removal or remediation of such Hazardous SubstancesMaterials, in accordance with this Loan Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLAComprehensive Environmental Response, Compensation and Liability Act), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower Borrowers shall use commercially reasonable their best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances Materials onto or into any of the Mortgaged Property Properties from any adjoining property.
(iiB) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Propertyof the Individual Properties, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged the applicable Individual Property. If Lender has reasonable grounds to suspect that Remedial Work remedial actions may be required, Lender shall notify Borrower Borrowers and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections (with notice to Borrower Borrowers prior to the commencement of such inspection). Borrower Provided no Event of Default exists, Borrowers shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineerengineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 5.24 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Loan Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work remedial actions may be required) to conduct soil borings, establish ground water monitoring xxxxx wxxxx and conduct other customary environmental tests, assessments and audits.
(iiiC) Borrower Borrowers agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) 5.24 (to the extent such inspections and reports relate to any Mortgaged Propertyof the Properties) in the following situations:
(i) If Lender has reasonable grounds to believe, at the time any such inspection is ordered, that there exists an occurrence or condition that could lead to an Environmental Claim;
(ii) If any such inspection reveals an occurrence or condition that is reasonably likely to lead to an Environmental Claim; or
(iii) If an Event of Default exists at the time any such inspection is ordered, and such Event of Default relates to any representation, covenant or other obligation pertaining to Hazardous Materials, Environmental Laws or any other environmental matter.
Appears in 2 contracts
Samples: Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)
Environmental Matters; Inspection. (a) Upon at least five (5) days advance notice, which shall include (i) Borrower the submission of a written invasive investigation plan for Indemnitor’s review and approval, which approval shall not knowingly permit any Hazardous Substances to be present on unreasonably withheld, conditioned or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to preventdelayed, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written noticeproof that Indemnitor has been named as an additional insured on the applicable insurance policy of Lender or its agents, Lender or its agents shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours right to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Propertythe Premises to conduct customary environmental tests, provided that assessments, audits and soil borings. Except in an emergency, such inspections entry shall not unreasonably interfere be at reasonable times, with the operation advance notice described above, and subject to the rights of tenants of the Premises. Any damage to the Premises as a result of such tests or the tenants, residents borings will be promptly and fully repaired by Lender or occupants of any Mortgaged Propertyits agents. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections inspections, tests, assessments, audits and soil borings (with notice to Borrower prior to the commencement of such inspectiona “Lender Environmental Report”). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 7 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include Agreement or the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsLoan Documents.
(iiib) If an Event of Default has occurred and is continuing or Lender has reasonable cause to believe that there has been a Release of a Hazardous Substance on, in, under or about the Premises or any Environmental Violation exists or any Hazardous Substance is migrating to or from adjoining property), promptly upon the written request of Lender, Indemnitor shall provide Lender with an environmental site assessment or environmental audit report prepared by an environmental engineering firm acceptable to Lender in its reasonable discretion (a “Borrower agrees Environmental Report”), to bear assess with a reasonable degree of certainty whether or not any Release exists or has occurred, along with a reasonably detailed description of the potential scope of remediation and of the potential costs that may be incurred in connection with abatement, cleanup or removal of any Hazardous Substance found on, in, under, at, or within the Premises.
(c) Indemnitor shall pay or reimburse Lender on demand for all sums advanced Advances and reasonable actual out-of-pocket expenses incurred (including reasonable attorneys’ fees fees, costs and disbursements, but excluding internal overhead, administrative and similar costs of Lenderexpenses) reasonably relating to, or incurred by Lender in connection with, the inspections with any Lender Environmental Report and reports described in any Borrower Environmental Report required or permitted under this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) Agreement in the following situations:
(i) if Lender has reasonable grounds to believe, at the time any Lender Environmental Report is ordered or any Borrower Environmental Report is requested, that there exists any Environmental Violation, or there is a Release of a Hazardous Substance on, in, under or about the Premises or any Hazardous Substance is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(ii) if any such inspection reveals a violation of an Environmental Law or that a Hazardous Substance is present on, in, under or about the Premises or is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(iii) if Lender has reasonable grounds to believe that there is a material adverse change in the status of any Release of any Hazardous Substance on, in, under or about the Premises;
(iv) if Lender has reasonable grounds to believe that a material adverse change in the compliance of the Premises with any Environmental Law has occurred;
(v) if Lender is not reasonably satisfied with the results or quality of an environmental site assessment or an environmental audit report which has been prepared in connection with the Premises, with the exception of the Environmental Report required by Lender in conjunction with the making of the Loan; or
(vi) if an Event of Default exists at the time such Lender Environmental Report is ordered or at the time the request is made for a Borrower Environmental Report.
Appears in 2 contracts
Samples: Environmental Indemnification Agreement (Kilroy Realty, L.P.), Environmental Indemnification Agreement (Kilroy Realty, L.P.)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any a Hazardous Substances Substance to be present on or on, under or to emanate from the Mortgaged Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLAComprehensive Environmental Response, Compensation and Liability Act, 42, U.S.C. § 9601 et seq. ), either on its own behalf or by causing a tenant or other party legally responsible therefor primarily at fault to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender the Agent shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any the Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any the Mortgaged Property. If Lender the Agent has reasonable grounds to suspect that Remedial Work may be required, Lender the Agent shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender the Agent in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender the Agent in this Agreement, and shall expressly include the right (if Lender the Agent reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender the Lenders on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lenderthe Lenders) reasonably relating to, or incurred by Lender Lenders in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any the Mortgaged Property) in the following situations:
Appears in 2 contracts
Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)
Environmental Matters; Inspection. (i) Borrower Operator shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged PropertyFacility, or migrate from adjoining property controlled by Operator onto or into the Mortgaged PropertyFacility in violation of any Environmental Law, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged PropertyFacility, or migrate onto or into the Mortgaged PropertyFacility, Borrower Operator shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower Operator shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property Facility from any adjoining propertyproperty in violation of any Environmental Law.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours after ten (10) calendar days' prior written notice to Operator and subject to the rights of tenants therein to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged PropertyFacility. If Lender has reasonable grounds reason to suspect believe that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select or may require Operator to select a consulting environmental Engineer reasonably satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(b)(E) shall be ----------------- in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects has reason to suspect that Remedial Work may be required) to conduct or require Operator to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower Operator agrees to bear and shall pay or reimburse Lender on within ten (10) calendar days following written demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property5.1(b)(E) in the ------- --------- following situations:
Appears in 1 contract
Environmental Matters; Inspection. (iA) Borrower shall not knowingly permit any Hazardous Substances Materials to be present on or on, under or to emanate from the Mortgaged Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances Materials are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous SubstancesMaterials, in accordance with this Loan Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA57 Comprehensive Environmental Response, Compensation and Liability Act), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances Materials onto or into the Mortgaged Property from any adjoining property.
(iiB) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged the Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged the Property. If Lender has reasonable grounds to suspect that Remedial Work remedial actions may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Provided no Event of Default exists, Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineerengineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 5.24 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Loan Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work remedial actions may be required) to conduct soil borings, establish ground water monitoring xxxxx wxxxx and conduct other customary environmental tests, assessments and audits.
(iiiC) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) 5.24 (to the extent such inspections and reports relate to any Mortgaged the Property) in the following situations:
(i) If Lender has reasonable grounds to believe, at the time any such inspection is ordered, that there exists an occurrence or condition that could lead to an Environmental Claim;
(ii) If any such inspection reveals an occurrence or condition that is reasonably likely to lead to an Environmental Claim; or
(iii) If an Event of Default with respect to the Property exists at the time any such inspection is ordered, and such Event of Default relates to any representation, covenant or other obligation pertaining to Hazardous Materials, Environmental Laws or any other environmental matter.
Appears in 1 contract
Environmental Matters; Inspection. (iA) Borrower Borrowers shall not knowingly permit any Hazardous Substances Materials to be present on or on, under or to emanate from the Mortgaged any Individual Property, or migrate from adjoining property controlled by any Borrower onto or into the Mortgaged any Individual Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances Materials are present on, under or emanate from the Mortgaged any Individual Property, or migrate onto or into the Mortgaged any Individual Property, Borrower Borrowers shall cause the removal or remediation of such Hazardous SubstancesMaterials, in accordance with this Loan Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLAComprehensive Environmental Response, Compensation and Liability Act), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower Borrowers shall use commercially reasonable best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances Materials onto or into the Mortgaged any Individual Property from any adjoining propertyIndividual Property.
(iiB) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged such Individual Property. If Lender has reasonable grounds to suspect that Remedial Work remedial actions may be required, Lender shall notify Borrower Borrowers and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections (with notice to Borrower Borrowers prior to the commencement of such inspection). Borrower Provided no Event of Default exists, Borrowers shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineerengineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 5.24 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Loan Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work remedial actions may be required) to conduct soil borings, establish ground water monitoring xxxxx wells and conduct other customary environmental tests, assessments and auditsanx xxxits.
(iiiC) Borrower agrees Borrowers agree to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) 5.24 (to the extent such inspections and reports relate to any Mortgaged Propertythe Properties) in the following situations:
(i) If Lender has reasonable grounds to believe, at the time any such inspection is ordered, that there exists an occurrence or condition that could lead to an Environmental Claim;
(ii) If any such inspection reveals an occurrence or condition that is reasonably likely to lead to an Environmental Claim; or
(iii) If an Event of Default with respect to any Individual Property exists and is continuing at the time any such inspection is ordered, and such Event of Default relates to any representation, covenant or other obligation pertaining to Hazardous Materials, Environmental Laws or any other environmental matter.
Appears in 1 contract
Samples: Loan and Security Agreement (Education Realty Trust, Inc.)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged Property. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) in the following situations:
(A) If Lender has reasonable grounds to believe, at the time any such inspection is ordered, that there exists an occurrence or condition that could lead to a material Environmental Claim with respect to such Mortgaged Property;
(B) If any such inspection reveals an occurrence or condition that is reasonably likely to lead to a material Environmental Claim with respect to such Mortgaged Property; or
(C) If an Event of Default with respect to such Mortgaged Property exists at the time any such inspection is ordered, and such Event of Default relates to any representation, covenant or other obligation pertaining to Hazardous Substances, Environmental Laws or any other environmental matter.
Appears in 1 contract
Samples: Loan Agreement (Affordable Residential Communities Inc)
Environmental Matters; Inspection. (i) Neither Borrower nor Operating Lessee shall cause, and Borrower shall not knowingly permit use commercially reasonable measures to prevent any other Person from causing, any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws (such as cleaning and operating materials, fuels and lubricants, and other items used in the ordinary course of business at the Mortgaged Property in material compliance with and in amounts not in excess of that permitted under applicable Environmental Laws) and, in the event that such prohibited Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall to the extent required by applicable Environmental Law cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by applicable Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA)Laws, either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written noticenotice identifying the time, place and scope of a proposed inspection, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents customers, residents, occupants or occupants other authorized users of any Mortgaged PropertyProperty and shall be appropriate in scope and location to the proposed inspection. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with reasonable prior written notice to Borrower of the scope and location of such inspection prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to samesame before they are issued in final form. The inspection rights granted to Lender in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsaudits to the extent such activities are reasonably related to the scope of the suspected Remedial Work.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums reasonably advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or to and incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged Propertyits Facility, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged Propertyits Facility, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged Propertysuch Facility, or migrate onto or into the Mortgaged Propertysuch Facility, Borrower shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower shall use commercially reasonable best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property Borrower's Facility from any adjoining property.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged PropertyFacility, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged Propertysuch Facility. If Lender has reasonable grounds to suspect suspects that Remedial Work may be required, Lender shall notify may select or may require Borrower and, thereafter, may to select a consulting environmental Engineer satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(E) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct or require Borrower to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property5.1(E) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any authorize a Hazardous Substances Substance to be present on or on, under or to emanate from the Mortgaged an Individual Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged an Individual Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged an Individual Property, or migrate onto or into the Mortgaged an Individual Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower shall use commercially reasonable best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged any Individual Property from any adjoining property.
(ii) Upon reasonable prior written noticenotice and subject to the rights of tenants under Leases, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Individual Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents occupants or occupants guests of any Mortgaged such Individual Property. If Lender has reasonable grounds to suspect suspects that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection)inspections. Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(E) shall be in 75 71 addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and wellx xxd conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums reasonably advanced and reasonable expenses reasonably incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or reasonably incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e5.1(E) (to the extent such inspections and reports relate to any Mortgaged Individual Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged Propertyany Facility, or migrate from adjoining property onto or into the Mortgaged Property, any Facility except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged Propertyany Facility, or migrate onto or into the Mortgaged Propertyany Facility, Borrower shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower shall use commercially reasonable best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property any Facility from any adjoining property.
(ii) Upon reasonable prior written noticenotice to Borrower, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged PropertyFacility. If Lender has reasonable grounds reason to suspect believe that Remedial Work may be required, Lender shall notify may select or may require Borrower and, thereafter, may to select a consulting environmental Engineer reasonably satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)any Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) shall -------------- be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct or require Borrower to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender Lender, on demand demand, for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) in the following situations:reasonable
Appears in 1 contract
Samples: Loan Agreement (G&l Realty Corp)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged PropertyFacility, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged PropertyFacility, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged PropertyFacility, or migrate onto or into the Mortgaged PropertyFacility, Borrower shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower shall use commercially reasonable best efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property Borrower's Facility from any adjoining property.
(ii) Upon reasonable prior written noticenotice to Borrower, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged PropertyFacility. If Lender has reasonable grounds reason to suspect believe that Remedial Work may be required, Lender shall notify may select or may require Borrower and, thereafter, may to select a consulting environmental Engineer reasonably satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(E) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct or require Borrower to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property5.1(E) in the following situations:
Appears in 1 contract
Samples: Loan Agreement (Mark Centers Trust)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any a Hazardous Substances Substance to be present on or on, under or to emanate from the Mortgaged Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA)Laws, either on its own behalf or by causing a tenant or other party legally responsible therefor primarily at fault to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender the Agent shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged the Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged the Property. If Lender the Agent has reasonable grounds to suspect that Remedial Work may be required, Lender the Agent shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender the Agent in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender the Agent in this Agreement, and shall expressly include the right (if Lender the Agent reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender the Lenders on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lenderthe Lenders) reasonably relating to, or incurred by Lender Lenders in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged the Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower Operator shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged PropertyFacility, or migrate from adjoining property controlled by Operator onto or into the Mortgaged PropertyFacility in violation of any Environmental Law, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged PropertyFacility, or migrate onto or into the Mortgaged PropertyFacility, Borrower Operator shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower Operator shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property Facility from any adjoining propertyproperty in violation of any Environmental Law.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours after ten (10) calendar days' prior written notice to Operator and subject to the rights of tenants therein to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged PropertyFacility. If Lender has reasonable grounds reason to suspect believe that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select or may require Operator to select a consulting environmental Engineer reasonably satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(b)(E) shall be in addition to, and not in limitation of, any ------- --------- other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects has reason to suspect that Remedial Work may be required) to conduct or require Operator to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower Operator agrees to bear and shall pay or reimburse Lender on within ten (10) calendar days following written demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property5.1(b)(E) in the ------- --------- following situations:
Appears in 1 contract
Environmental Matters; Inspection. (ia) Borrower Lender and its agents shall have the right (not knowingly permit to be exercised unless an Event of Default then exists, unless required in connection with a Transfer, Participation or Securitization, or unless Lender reasonably believes that a Release in violation of Environmental Laws has occurred, that there exists any other Environmental Violation, or that any Hazardous Substances to be present on or under or to emanate Substance is migrating from the Mortgaged Property, or migrate Premises from adjoining property onto or into to the Mortgaged Property, except under conditions permitted by applicable Environmental Laws andPremises from adjoining property, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation each case in violation of such Hazardous Substances, Environmental Laws) (at Indemnitor's expense as provided in accordance with this Agreement and as required by Environmental Laws clause (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(iic) Upon reasonable prior written notice, Lender shall have the right, except as below; otherwise provided under Leases, at all reasonable times during normal business hours Lender's expense) to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Propertythe Premises, and to conduct customary environmental tests, assessments, audits and soil borings; provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged Property. If Lender has reasonable grounds to suspect that Remedial Work may be requiredthat, Lender shall notify Borrower andnot conduct any Phase II environmental testing unless the results of any Phase I environmental testing recommends such additional testing. Except in an emergency, thereaftersuch entry shall be at reasonable times, during business hours, with reasonable advance notice, and subject to the rights of tenants of the Premises and the right of Indemnitor to have a representative present. Lender may select a consulting Engineer engineer to conduct and prepare reports of such inspections inspections, tests, assessments, audits and soil borings (with notice to Borrower prior to the commencement of such inspectiona "Lender Environmental Report"). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 7 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include Agreement or the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsLoan Documents.
(iiib) Borrower agrees Promptly upon the written request of Lender from time to bear time (such request not to be made unless an Event of Default then exists, unless required in connection with a Transfer, Participation or Securitization, or unless Lender reasonably believes that a Release in violation of Environmental Laws has occurred, that there exists any other Environmental Violation, or that any Hazardous Substance is migrating from the Premises from adjoining property or to the Premises from adjoining property, in each case in violation of Environmental Laws), Indemnitor shall provide Lender (at Indemnitor's expense as provided in clause (c) below; otherwise at Lender's expense) with an environmental site assessment or environmental audit report prepared by an environmental engineering firm reasonably acceptable to Lender (an "Indemnitor Environmental Report"), to assess with a reasonable degree of certainty whether or not any Release exists or has occurred, along with a reasonably detailed description of the potential scope of remediation and of the potential costs that may be incurred in connection with abatement, cleanup or removal of any Hazardous Substance found on, in, under, at, or within the Premises.
(c) Indemnitor shall pay or reimburse Lender on demand for all sums advanced Advances and reasonable actual out-of-pocket expenses incurred (including reasonable attorneys’ fees ' fees, costs and disbursements, but excluding internal overhead, administrative and similar costs of Lenderexpenses) reasonably relating to, to or incurred by Lender in connection with, the inspections with any Lender Environmental Report and reports described in any Indemnitor Environmental Report required or permitted under this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) Agreement in the following situations:
(i) if Lender has reasonable grounds to believe, at the time any Lender Environmental Report is ordered or any Indemnitor Environmental Report is requested, that there exists any Environmental Violation, or there is a Release of a Hazardous Substance from, on, in, under or about the Premises, or any Hazardous Substance is migrating from the Premises to adjoining property or to the Premises from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(ii) if any such inspection reveals a violation of any Environmental Law or that a Hazardous Substance is present on, in, under or about the Premises or is migrating from the Premises to adjoining property or to the Premises from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(iii) if Lender has reasonable grounds to believe that there is an adverse change in the status of any Release of a Hazardous Substance from, on, in, under or about the Premises;
(iv) if Lender has reasonable grounds to believe that an adverse change in the compliance of the Premises with any Environmental Law has occurred; or
(v) if an Event of Default exists at the time such Lender Environmental Report is ordered or at the time the request is made for an Indemnitor Environmental Report.
Appears in 1 contract
Samples: Environmental Indemnification Agreement (RREEF Property Trust, Inc.)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit cause, and Borrower shall use commercially reasonable measures to prevent any other Person from causing, any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws (such as cleaning and operating materials, fuels and lubricants, and other items used in the ordinary course of business at the Mortgaged Property in material compliance with and in amounts not in excess of that permitted under applicable Environmental Laws) and, in the event that such prohibited Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall to the extent required by applicable Environmental Law cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by applicable Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA)Laws, either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written noticenotice identifying the time, place and scope of a proposed inspection, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any the Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents customers, residents, occupants or occupants other authorized users of any the Mortgaged PropertyProperty and shall be appropriate in scope and location to the proposed inspection. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with reasonable prior written notice to Borrower of the scope and location of such inspection prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to samesame before they are issued in final form. The inspection rights granted to Lender in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsaudits to the extent such activities are reasonably related to the scope of the suspected Remedial Work.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums reasonably advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or to and incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any the Mortgaged Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit cause, and Borrower shall use commercially reasonable measures to prevent any other Person from causing any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws (such as cleaning and operating materials, fuels and lubricants, and other items used in the ordinary course of business at the Mortgaged Property in material compliance with and in amounts not in excess of that permitted under applicable Environmental Laws) and, in the event that such prohibited Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall to the extent required by applicable Environmental Law cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by applicable Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA)Laws, either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written noticenotice identifying the time, place and scope of a proposed inspection, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any the Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents customers, residents, occupants or occupants other authorized users of any the Mortgaged PropertyProperty and shall be appropriate in scope and location to the proposed inspection. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with reasonable prior written notice to Borrower of the scope and location of such inspection prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to samesame before they are issued in final form. The inspection rights granted to Lender in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsaudits to the extent such activities are reasonably related to the scope of the suspected Remedial Work.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums reasonably advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or to and incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any the Mortgaged Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower Operator shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged PropertyFacility, or migrate from adjoining property controlled by Operator onto or into the Mortgaged PropertyFacility in violation of any Environmental Law, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged PropertyFacility, or migrate onto or into the Mortgaged PropertyFacility, Borrower Operator shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower Operator shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property Facility from any adjoining propertyproperty in violation of any Environmental Law.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours after ten (10) calendar days' prior written notice to Operator and subject to the rights of tenants therein to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged PropertyFacility. If Lender has reasonable grounds reason to suspect believe that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select or may require Operator to select a consulting environmental Engineer reasonably satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(b)(E) shall be ------- --------- in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects has reason to suspect that Remedial Work may be required) to conduct or require Operator to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower Operator agrees to bear and shall pay or reimburse Lender on within ten (10) calendar days following written demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property5.1(b)(E) in the ------- --------- following situations:
Appears in 1 contract
Environmental Matters; Inspection. (ia) Borrower shall not knowingly permit any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement Lender and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender agents shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours right to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Propertythe Premises, provided that and to conduct customary environmental tests, assessments, audits and soil borings. Except in an emergency, such inspections entry shall not unreasonably interfere be at reasonable times, with reasonable advance notice, and subject to the operation or rights of tenants of the tenants, residents or occupants of any Mortgaged PropertyPremises. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections inspections, tests, assessments, audits and soil borings (with notice to Borrower prior to the commencement of such inspectiona "Lender Environmental Report"). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 4.3 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this AgreementAgreement or the other Loan Documents. Borrower shall be entitled, and shall expressly include upon request, to receive a copy of any Lender Environmental Report obtained by Lender except if such request is made during the right (continuance of an Event of Default or if such Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsEnvironmental Report was prepared internally by Lender.
(iiib) Promptly upon the written request of Lender from time to time, Borrower shall provide Lender with an environmental site assessment or environmental audit report prepared by an environmental engineering firm acceptable to Lender (a "Borrower Environmental Report"), to assess with a reasonable degree of certainty whether or not any Release exists or has occurred, along with a reasonably detailed description of the potential scope of remediation and of the potential costs that may be incurred in connection with abatement, cleanup or removal of any Hazardous Substance found on, in, under, at, or within the Premises. If none of the situations set forth in Section 4.3(c)(i) – (vi) have occurred, then Lender shall reimburse Borrower for the cost of the Borrower Environmental Report requested by Lender.
(c) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced Advances and reasonable expenses incurred (including reasonable attorneys’ fees ' fees, costs and disbursements, but excluding internal overhead, administrative and similar costs of Lenderexpenses) reasonably relating to, to or incurred by Lender in connection withwith any Lender Environmental Report and any Borrower Environmental Report required or permitted under this Agreement, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) but only in the following situations:
(i) if Lender has reasonable grounds to believe, at the time any Lender Environmental Report is ordered or any Borrower Environmental Report is requested, that there exists any Environmental Violation, or there is a Release of a Hazardous Substance on, in, under or about the Premises or any Hazardous Substance is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(ii) if any such inspection reveals a violation of an Environmental Law or that a Hazardous Substance is present on, in, under or about the Premises or is migrating to or from adjoining property (and the condition giving rise to such violation or condition was not previously disclosed to Lender in a prior Environmental Report, Borrower Environmental Report or Lender Environmental Report), except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(iii) if Lender has reasonable grounds to believe that there is an adverse change in the status of any Release of any Hazardous Substance on, in, under or about the Premises;
(iv) if Lender has reasonable grounds to believe that an adverse change in the compliance of the Premises with any applicable Environmental Law has occurred;
(v) [Intentionally Omitted]; or
(vi) if an Event of Default exists at the time such Lender Environmental Report is ordered or at the time the request is made for a Borrower Environmental Report.
Appears in 1 contract
Samples: Loan Agreement (Douglas Emmett Inc)
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any a Hazardous Substances Substance to be present on or on, under or to emanate from the Mortgaged Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender Agent shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any the Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents tenants or occupants of any the Mortgaged Property. If Lender Agent has reasonable grounds to suspect that Remedial Work may be required, Lender Agent shall notify Borrower and, thereafterif Borrower is not complying with Section 5.1(D), may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender Agent in this Section 5.1(e5.1(E) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender Agent in this Agreement, and shall expressly include the right (if Lender reasonably Agent suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx wells and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender Agent on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender Agent in connection with, the inspections and reports described in this Section 5.1(e5.1(E) (to the extent such inspections and reports relate to any the Mortgaged Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any a Hazardous Substances Substance to be present on or on, under or to emanate from the Mortgaged Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA)Laws, either on its own behalf or by causing a tenant or other party legally responsible therefor primarily at fault to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender the Agent shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged the Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged the Property. If Lender the Agent has reasonable grounds to suspect that Remedial Work may be required, Lender the Agent shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender the Agent in this Section 5.1(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender the Agent in this Agreement, and shall expressly include the right (if Lender the Agent reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender the Lenders on demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ fees and disbursements, but excluding internal overhead, administrative and similar costs of Lenderthe Lenders) reasonably relating to, or incurred by Lender Lenders in connection with, the inspections and reports described in this Section 5.1(e) (to 5.1(e)(to the extent such inspections and reports relate to any Mortgaged the Property) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any In the event that Mortgagee has reasonable grounds to believe that there exists an Environmental Event, that a Hazardous Substances Substance is migrating to be present on or under or to emanate from the Mortgaged Property, or migrate from property adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under and not prohibited by this Mortgage or emanate from the Mortgaged Propertyany other Loan Document, or migrate onto that a Default exists relating to any representation, covenant or into the Mortgaged Property, Borrower shall cause the removal or remediation of such other obligation pertaining to Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or any other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to preventenvironmental matter, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon upon reasonable prior written notice, Lender Mortgagee shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any the Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any such Mortgaged Property. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, Mortgagee may select a consulting Engineer engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection)inspections. Borrower Mortgagor shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineerengineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender Mortgagee in this Section 5.1(e4.18(e) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in Mortgagee under this AgreementMortgage, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx borings and conduct other customary environmental teststests or sampling, assessments and audits, subject to the prior approval of Mortgagor, which approval shall not be unreasonably withheld.
(iiiii) Borrower Mortgagor agrees to bear and shall pay or reimburse Lender Mortgagee on demand for all sums advanced out-of-pocket costs and reasonable expenses incurred (including reasonable attorneys’ fees ' fees, charges and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, to or incurred by Lender Mortgagee in connection with, with the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property4.18(e) in the following situationsevent that:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender and its agents, representatives and employees shall have the right, except as otherwise provided under Leases, right at all reasonable times and during normal business hours hours, except to the extent such access is limited by applicable law, to enter upon and inspect environmental conditions with respect to all or any portion of any the Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation thereof or the tenants, residents or occupants of any Mortgaged Propertyif any, thereon. If Lender has reasonable grounds to suspect that Remedial Work may be requiredExcept as provided in clause (ii) below, Lender shall notify Borrower and(y) Lender, thereafterat its sole expense, may select a consulting Engineer retain an environmental consultant to conduct and prepare reports of such inspections and (with notice to Borrower prior to the commencement of such inspection). Borrower z) Owner shall be given a reasonable opportunity to review any and all reports, data and other documents or materials reviewed or prepared by the Engineerconsultant, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e2.22(b) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this AgreementIndenture, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx borings and conduct other customary environmental tests, assessments and audits in compliance with applicable Legal Requirements; provided, that, except as set forth in clause (ii) below, Lender shall cause to be repaired any damage caused by such borings, tests, assessments or audits.
(iiiii) Borrower Owner agrees to bear and shall pay or reimburse Lender on demand for all sums advanced Advances and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, to or incurred by Lender in connection withwith the inspections, the inspections tests and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property2.22(b) in the following situations:
(A) If Lender has reasonable grounds to believe at the time any such inspection is ordered, that there exists an Environmental Violation or that a Hazardous Substance is present on, under or emanating from the Mortgaged Property, or is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(B) If any such inspection reveals an Environmental Violation or that a Hazardous Substance is present on, under or emanating to or from the Mortgaged Property or is migrating from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document; or
(C) If an Event of Default shall have occurred and be continuing at the time any such inspection is ordered.
Appears in 1 contract
Environmental Matters; Inspection. (ia) Borrower shall not knowingly permit any Hazardous Substances to be present on or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement Lender and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written notice, Lender agents shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours and upon two (2) Business Days advance notice (provided that no advance notice shall be required in the event of an emergency) to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Propertythe Premises, provided that and to conduct customary environmental tests, assessments, audits and soil borings. Except in an emergency, such inspections entry shall not unreasonably interfere be at reasonable times, with reasonable advance notice, and subject to the operation or rights of tenants of the tenants, residents or occupants of any Mortgaged PropertyPremises. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection). Borrower shall be given a reasonable opportunity to review any reportsinspections, data tests, assessments, audits and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to samesoil borings. The inspection rights granted to Lender in this Section 5.1(e) 2.22 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsDeed of Trust.
(iiib) Promptly upon the written request of Lender from time to time, Borrower shall provide Lender with an environmental site assessment or environmental audit report prepared by an environmental engineering firm acceptable to Lender, to assess with a reasonable degree of certainty the presence or absence of any Hazardous Substance and the potential costs in connection with abatement, cleanup or removal of any Hazardous Substance found on, under, at, or within the Premises.
(c) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced Advances and reasonable expenses incurred (including reasonable attorneys’ fees fees, costs and disbursements, but excluding internal overhead, administrative and similar costs of Lenderexpenses) reasonably relating to, to or incurred by Lender in connection withwith the inspections, the inspections tests, assessments, audits, soil borings and reports described in this Section 5.1(e) (2.22 and to provide the extent such inspections and reports relate to any Mortgaged Propertyenvironmental site assessment or environmental report described in Section 2.22(b) in the following situations:
(i) if Lender has reasonable grounds to believe, at the time any such inspection, test, assessment, audit, or soil boring is ordered or Environmental Report is requested, that there exists an Environmental Violation or that a Hazardous Substance is present on, under or about the Premises or is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(ii) if any such inspection reveals an Environmental Violation or that a Hazardous Substance is present on, under or about the Premises or is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(iii) if Lender has reasonable grounds to believe that a change in the presence of Hazardous Substances on the Premises has occurred;
(iv) if Lender has reasonable grounds to believe that a change in the compliance of the Premises with any Environmental Law has occurred;
(v) if Lender is not reasonably satisfied with the results or quality of an environmental site assessment or an environmental audit report which has been prepared in connection with the Premises, with the exception of the environmental site assessment and environmental audit report required by Lender in conjunction with the making of the Loan; or
(vi) if an Event of Default exists at the time such inspection is ordered or at the time the request is made for an Environmental Report.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Environmental Matters; Inspection. (a) Upon at least five (5) days advance notice, which shall include (i) Borrower the submission of a written invasive investigation plan for Borrower’s review and approval, which approval shall not knowingly permit any Hazardous Substances to be present on unreasonably withheld, conditioned or under or to emanate from the Mortgaged Property, or migrate from adjoining property onto or into the Mortgaged Property, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged Property, or migrate onto or into the Mortgaged Property, Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to preventdelayed, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property from any adjoining property.
(ii) Upon reasonable prior written noticeproof that Borrower has been named as an additional insured on the applicable insurance policy of Lender or its agents, Lender or its agents shall have the right, except as otherwise provided under Leases, at all reasonable times during normal business hours right to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Propertythe Premises to conduct customary environmental tests, provided that assessments, audits and soil borings. Except in an emergency, such inspections entry shall not unreasonably interfere be at reasonable times, with the operation advance notice described above, and subject to the rights of tenants of the Premises. Any damage to the Premises as a result of such tests or the tenants, residents borings will be promptly and fully repaired by Lender or occupants of any Mortgaged Propertyits agents. If Lender has reasonable grounds to suspect that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer engineer to conduct and prepare reports of such inspections inspections, tests, assessments, audits and soil borings (with notice to Borrower prior to the commencement of such inspectiona “Lender Environmental Report”). Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e) 4.3 shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include Agreement or the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and auditsLoan Documents.
(iiib) If an Event of Default has occurred and is continuing or Lender has reasonable cause to believe that there has been a Release of a Hazardous Substance on, in, under or about the Premises or any Environmental Violation exists or any Hazardous Substance is migrating to or from adjoining property), promptly upon the written request of Lender, Borrower shall provide Lender with an environmental site assessment or environmental audit report prepared by an environmental engineering firm acceptable to Lender in its reasonable discretion (a “Borrower Environmental Report”), to assess with a reasonable degree of certainty whether or not any Release exists or has occurred, along with a reasonably detailed description of the potential scope of remediation and of the potential costs that may be incurred in connection with abatement, cleanup or removal of any Hazardous Substance found on, in, under, at, or within the Premises.
(c) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced Advances and reasonable actual out-of-pocket expenses incurred (including reasonable attorneys’ fees fees, costs and disbursements, but excluding internal overhead, administrative and similar costs of Lenderexpenses) reasonably relating to, or incurred by Lender in connection with, the inspections with any Lender Environmental Report and reports described in any Borrower Environmental Report required or permitted under this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property) Agreement in the following situations:
(i) if Lender has reasonable grounds to believe, at the time any Lender Environmental Report is ordered or any Borrower Environmental Report is requested, that there exists any Environmental Violation, or there is a Release of a Hazardous Substance on, in, under or about the Premises or any Hazardous Substance is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(ii) if any such inspection reveals a violation of an Environmental Law or that a Hazardous Substance is present on, in, under or about the Premises or is migrating to or from adjoining property, except under conditions permitted by applicable Environmental Laws and not prohibited by any Loan Document;
(iii) if Lender has reasonable grounds to believe that there is a material adverse change in the status of any Release of any Hazardous Substance on, in, under or about the Premises;
(iv) if Lender has reasonable grounds to believe that a material adverse change in the compliance of the Premises with any Environmental Law has occurred;
(v) if Lender is not reasonably satisfied with the results or quality of an environmental site assessment or an environmental audit report which has been prepared in connection with the Premises; or
(vi) if an Event of Default exists at the time such Lender Environmental Report is ordered or at the time the request is made for a Borrower Environmental Report.
Appears in 1 contract
Samples: Loan Agreement (Kilroy Realty, L.P.)
Environmental Matters; Inspection. (i) Borrower Operator shall not knowingly permit any cause, allow or authorize a Hazardous Substances Substance to be present on or at, on, in, under or to emanate from the Mortgaged PropertyFacility, or migrate from adjoining property controlled by Operator onto or into the Mortgaged PropertyFacility in violation of any Environmental Law, except under conditions permitted by applicable Environmental Laws and, in the event that such Hazardous Substances are present at, on, in, under or emanate from the Mortgaged PropertyFacility, or migrate onto or into the Mortgaged PropertyFacility, Borrower Operator shall cause the performance of Remedial Work, removal or remediation of such Hazardous Substances, in accordance with this Agreement and as required by Environmental Laws (including, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediationLaws. Borrower Operator shall use commercially reasonable efforts to prevent, and to seek the remediation of, any migration of Hazardous Substances onto or into the Mortgaged Property Facility from any adjoining propertyproperty in violation of any Environmental Law.
(ii) Upon reasonable prior written notice, Lender shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours after ten (10) calendar days' prior written notice to Operator and subject to the rights of tenants therein to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents or occupants of any Mortgaged PropertyFacility. If Lender has reasonable grounds reason to suspect believe that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select or may require Operator to select a consulting environmental Engineer reasonably satisfactory to Lender to conduct and prepare environmental reports assessing the environmental condition of such inspections (with notice to Borrower prior to the commencement of such inspection)Facility. Borrower Lender shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the environmental Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(b)(E) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreementthe Loan Documents, and shall expressly include the right (if Lender reasonably suspects has reason to suspect that Remedial Work may be required) to conduct or require Operator to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, assessments and audits.
(iii) Borrower Operator agrees to bear and shall pay or reimburse Lender on within ten (10) calendar days following written demand for all sums advanced and reasonable expenses incurred (including reasonable attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e) (to the extent such inspections and reports relate to any Mortgaged Property5.1(b)(E) in the following situations:
Appears in 1 contract
Environmental Matters; Inspection. (i) Borrower shall not knowingly permit any authorize a Hazardous Substances Substance to be present on or under or to emanate from the Mortgaged an Individual Property, or migrate from adjoining property controlled by Borrower onto or into the Mortgaged an Individual Property, except under conditions permitted by applicable Environmental Laws andand conditions not reasonably likely to give rise to Remedial Work, and in the event that such Hazardous Substances are present on, under or emanate from the Mortgaged an Individual Property, or migrate onto or into the Mortgaged an Individual Property, if required pursuant to Section 5.1(D), Borrower shall cause the removal or remediation of such Hazardous Substances, in accordance with Section 5.1(D) of this Agreement and as required by Environmental Laws (includingLaws. Subject to Section 5.1(D) hereof, where applicable, the National Contingency Plan promulgated pursuant to the CERCLA), either on its own behalf or by causing a tenant or other party legally responsible therefor to perform such removal and remediation. Borrower shall use commercially reasonable efforts to preventprevent other Persons, and to seek the remediation by other Persons of, any migration of Hazardous Substances (of which Borrower has knowledge) onto or into the Mortgaged any Individual Property from any adjoining property.
(ii) Upon reasonable prior written noticenotice and subject to the rights of tenants under Leases, Lender or Lender's agents shall have the right, except as otherwise provided under Leases, right at all reasonable times during normal business hours to enter upon and inspect environmental conditions with respect to all or any portion of any Mortgaged Individual Property, provided that such inspections shall not unreasonably interfere with the operation or the tenants, residents occupants or occupants guests of any Mortgaged such Individual Property. If Lender has reasonable grounds to suspect suspects that Remedial Work may be required, Lender shall notify Borrower and, thereafter, may select a consulting Engineer to conduct and prepare reports of such inspections (with notice to Borrower prior to the commencement of such inspection)inspections. Borrower shall be given a reasonable opportunity to review any reports, data and other documents or materials reviewed or prepared by the Engineer, and to submit comments and suggested revisions or rebuttals to same. The inspection rights granted to Lender in this Section 5.1(e5.1(E) shall be in addition to, and not in limitation of, any other inspection rights granted to Lender in this Agreement, and shall expressly include the right (if Lender reasonably suspects that Remedial Work may be required) to conduct soil borings, establish ground water monitoring xxxxx and conduct other customary environmental tests, samplings, assessments and audits.
(iii) Borrower agrees to bear and shall pay or reimburse Lender on demand for all sums advanced and reasonable expenses incurred (including reasonable consultants' and attorneys’ ' fees and disbursements, but excluding internal overhead, administrative and similar costs of Lender) reasonably relating to, or incurred by Lender in connection with, the inspections and reports described in this Section 5.1(e5.1(E) (to the extent such inspections and reports relate to any Mortgaged Individual Property) in the following situations:
Appears in 1 contract
Samples: Loan Agreement (American Real Estate Investment Corp)