Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 4 contracts
Samples: Credit Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrower's reasonable expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower and provided to Administrative Agent pursuant to subsection 6.7B(i) and (ii) in the event (a) an Event of Default has occurred occurs as a result of a breach of subsection 5.6 (to the extent relating to Environmental Laws or Environmental Claims), 5.13, 6.6 (to the extent resulting from noncompliance with Environmental Laws) or 6.7 and is continuing, or (b) the Loans and all other Obligations shall (automatically or by declaration) have become immediately due and payable pursuant to Section 8, conduct its own investigation of any Facilityreasonable scope and at reasonable expense; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company Borrower shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of any Facility which is the basis of such FacilityEvent of Default or such acceleration of the Loans and Obligations that is (x) no longer owned, leased, operated or used by Borrower or any of its Subsidiaries, or (y) currently used by Borrower (but not owned, leased, or operated by Borrower) and with respect to which Borrower has no right or authority to permit Administrative Agent's professional consultant to conduct an investigation thereon. For purposes of conducting such a review and/or investigation, Company Borrower, to the extent that it has the power and authority to do so, hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company To the extent reasonably practicable, Administrative Agent shall restore any property damaged by such investigation to its condition immediately prior to such investigation. Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x1) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y2) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z3) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Credit Agreement (Prime Succession Inc), Credit Agreement (Rose Hills Co)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) Administrative Agent reasonably believes that Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Borrower or any of its Subsidiaries at any other location or (ii) an Event of Default has occurred and is continuing, retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower or conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company Borrower shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Credit Agreement (Winsloew Furniture Inc), Credit Agreement (Winsloew Furniture Inc)
Environmental Review and Investigation. Company Parent and Borrower each agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower and (ii) in the event (a) Administrative Agent reasonably believes that Parent or Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Parent or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company each of Parent and Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Parent or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Parent, Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company each of Parent and Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, report and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Credit Agreement (CFP Holdings Inc), Credit Agreement (CFP Holdings Inc)
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if retain, at Company’s expense, an independent professional consultant to review any non-privileged environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company in the event (a) Administrative Agent reasonably believes that Company has breached any representation, warranty or covenant contained in subsection 5.6, 5.12, 6.6 or 6.7 as a result of a violation of Environmental Laws at any Facility then owned, leased or operated by Company or its Subsidiaries, or by Company or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, and conduct its own investigation of any Facility; provided that, in the case of any Facility no longer then owned, leased, leased or operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any such Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith, subject to any restrictions in applicable leases. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such FacilityFacility and shall be conducted by a qualified environmental professional possessing reasonable levels of insurance. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans compliance with and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Credit Agreement (Panolam Industries International Inc), Second Lien Credit Agreement (Panolam Industries International Inc)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, (i) retain, at Borrower’s expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower or any of its Restricted Subsidiaries, and (ii) if (a) Administrative Agent reasonably believes that Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6, 6.7B or 6.7C in any material respect or that there has been a material violation of Environmental Laws at any Facility or by Borrower or any of its Restricted Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Restricted Subsidiaries, Company Borrower shall only be obligated to use all commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Restricted Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such review and/or investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, upon reasonable notice during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent Agent, each Joint Lead Arranger and each Lender from any costs, losses or liabilities relating to CompanyBorrower’s use of or reliance on such report, (y) neither Administrative Agent Agent, any Joint Lead Arranger nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent Agent, any Joint Lead Arranger nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Credit Agreement (Isle of Capri Casinos Inc), Credit Agreement (Isle of Capri Casinos Inc)
Environmental Review and Investigation. Company The Borrower agrees that the Administrative Agent may, from time following the occurrence of any event or the discovery of any condition that the Administrative Agent or the Required Lenders reasonably believes has caused (or could reasonably be expected to time cause) the representations and warranties set forth in its reasonable discretionSection 4.14 to be untrue in any respect that may result in a Material Adverse Effect:
(i) review, any environmental audits, investigations, analyses and reports (“Environmental Reports”) relating to Hazardous Materials in respect of any site or operation prepared by or for the Borrower by an independent professional consultant retained at the Borrower’s expense, and
(ii) if an Event reasonably determined to be necessary following review of Default has occurred and is continuingany Environmental Reports provided by the Borrower, conduct its own investigation of any Facility; provided that, site or operation and as to the compliance by any member of the Borrower Group with the representations and warranties set forth in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilitySection 4.14. For purposes of conducting such a review and/or investigation, Company the Borrower hereby grants to the Administrative Agent and its agents, employees, consultants and contractors the right (subject to the approval of any other Person from whom the Borrower Group is legally obligated to obtain permission or consent prior to granting access at such sites or operations) to enter into or onto any Facilities currently portion of any site or operation then owned, leased, operated or used by Company or any member of its Subsidiaries the Borrower Group and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility portion of any site or operation shall be conducted, unless otherwise agreed to by Company the Borrower and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility portion of any site or operation and all reasonable efforts shall be used not to cause any damage or loss to any property at such Facilityportion of the applicable site or operation. Company The Borrower and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C Section 5.9 will be obtained and shall be used by the Administrative Agent and the Lenders for the purposes of the Lenders’ internal credit decisions, to monitor and police the Loans and to protect the Lenders’ security interests, if any, interests created by the Loan Collateral Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrower with the understanding that Company the Borrower acknowledges and agrees that (x) it the Borrower will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Companythe Borrower’s use of or reliance on such report, (y) neither the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrower, neither the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Credit Agreement (Switch & Data, Inc.), Credit Agreement (Switch & Data Facilities Company, Inc.)
Environmental Review and Investigation. Company agrees The Borrowers agree that the Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers’ expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Site and is continuing, the Phase II Project prepared by or for Borrowers and (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries, Company the Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for the Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Borrowers hereby grants grant to the Administrative Agent and its their respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and the Borrowers or the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Borrowers and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C 5.7A will be obtained and shall be used by the Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, interests created by the Loan Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrowers with the understanding that Company acknowledges the Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers’ use of or reliance on such report, (y) neither the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Construction Loan Agreement (Las Vegas Sands Inc), Construction Loan Agreement (Las Vegas Sands Corp)
Environmental Review and Investigation. Company agrees and Borrowers each agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers’ expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Administrative Agent reasonably believes that Company or any Borrower or any of its or their Subsidiaries has breached any representation, warranty or covenant contained in this subsection 5.8 or that there has been a material violation of Environmental Laws at any Mortgaged Property or by Company, any Borrower or any of its or their Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any FacilityMortgaged Property; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company and each Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities Mortgaged Property currently owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Company, the relevant Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Company, Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.8C will be subject to the provisions of subsection 10.20 and will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, interests created by the Loan DocumentsDocuments or in connection with any transaction relating to the Loans or to such Facility. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees each Borrower acknowledge and agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 2 contracts
Samples: Secured Credit Agreement (Owens Illinois Group Inc), Secured Credit Agreement (Owens Illinois Inc /De/)
Environmental Review and Investigation. Company agrees Borrowers agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Site or the Project prepared by or for Borrowers and is continuing, (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrowers or any of its their Subsidiaries, Company Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrowers hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrowers and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrowers with the understanding that Company acknowledges Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrowers' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrowers, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Grand Canal Shops Mall Construction LLC)
Environmental Review and Investigation. Company agrees Credit Agreement Parties agree that Administrative Agent may, from (i) at any time to time and a fact, event or condition arises that, in its Administrative Agent's reasonable discretion, if Administrative Agent determines could give rise to environmental liabilities at any Facility that would reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials at such Facility prepared by or for Borrower and (ii) in the event (a) Administrative Agent reasonably believes that any Credit Agreement Party has breached any representation, warranty or covenant contained in subsection 5.6 (as such subsection pertains to environmental matters), 5.13, 6.6 (as such subsection pertains to environmental matters) or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Holdings or any of its Subsidiaries at any other location, conduct its own investigation of such breach or violation or (b) an Event of Default has occurred and is continuingcontinuing and the repayment of any amount due hereunder has been accelerated, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigationan investigation pursuant to clause (ii) of the preceding sentence, Company Credit Agreement Parties hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Holdings or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewiththerewith (to the extent, at any Facility leased by Holdings or any of its Subsidiaries, such actions are permitted by the owner of such Facility). Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Holdings and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Each Credit Agreement Party and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Holdings with the understanding that Company acknowledges Credit Agreement Parties acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s any Credit Agreement Party's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyHoldings, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Dominos Inc)
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if retain, at Company’s expense, an independent professional consultant to review any non-privileged environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company in the event (a) Administrative Agent reasonably believes that Company has breached any representation, warranty or covenant contained in subsection 5.6, 5.12, 6.6 or 6.7 as a result of a violation of Environmental Laws at any Facility then owned, leased or operated by Company or its Subsidiaries, or by Company or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, and conduct its own investigation of any Facility; provided that, in the case of any Facility no longer then owned, leased, leased or operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any such Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith, subject to any restrictions in applicable leases. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such FacilityFacility and shall be conducted by a qualified environmental professional possessing reasonable levels of insurance. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ , internal credit decisions, to monitor and police the Loans compliance with and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Panolam Industries International Inc)
Environmental Review and Investigation. Company agrees The Borrowers agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Phase II Land and is continuingthe Site, the Phase I Project or the Phase I-A Project prepared by or for Borrowers and (ii) conduct its their own investigation of any Facility; provided PROVIDED that, in the case of any Facility no longer owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries, Company the Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Borrowers hereby grants grant to the Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company the Borrowers and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Borrowers and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by the Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrowers with the understanding that Company acknowledges the Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Borrower and Holdings agree that Administrative Agent may, from time to time and in its reasonable discretion, if a Potential Event of Default relating to environmental matters or an Event of Default has occurred and is continuing, retain, at Borrower’s expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Holdings or Borrower or conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilityReal Property Asset. For purposes of conducting such a review and/or investigation, Company Borrower and Holdings hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities Real Property Assets currently owned, leased, operated or used by Company Holdings or Borrower or any of their Subsidiaries, subject to the rights of any tenants or lessees of Holdings and its Subsidiaries Subsidiaries, and to perform such so-called “Phase I” environmental assessment tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewithproperty. Any such investigation of any Facility Real Property Asset shall be conducted, unless otherwise agreed to by Company Holdings or Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, and shall be conducted so as not to interfere with the ongoing operations at such Facility Real Property Asset or to cause any damage or loss to any property at such FacilityReal Property Asset. Company Holdings, Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Holdings or Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to CompanyBorrower’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees The Borrowers agree that the Syndication Agent or the Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Existing Site, the Site, the Existing Facility and is continuing, the Phase II Project prepared by or for Borrowers and (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries, Company the Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for the Syndication Agent or the Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Borrowers hereby grants grant to the Syndication Agent and the Administrative Agent and its their respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company the Borrowers and the Syndication Agent or the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Borrowers, the Syndication Agent and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Syndication Agent or the Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by the Syndication Agent, the Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, interests created by the Loan Documents. The Syndication Agent and the Administrative Agent agrees each agree to deliver a copy of any such report to Company the Borrowers with the understanding that Company acknowledges the Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless the Administrative Agent, the Syndication Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers' use of or reliance on such report, (y) neither none of the Syndication Agent, the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither none of the Syndication Agent, the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Administrative Agent reasonably believes that Company has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Company or any of its Restricted Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, subject to the terms of any applicable lease, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Restricted Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, subject to the terms of any applicable lease, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Restricted Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Pantry Inc)
Environmental Review and Investigation. Holdings and Company agrees agree that Administrative Agent may, from (i) at any time to time and a fact, event or condition arises that, in its Administrative Agent’s reasonable discretion, if Administrative Agent determines could give rise to environmental liabilities that would materially adversely affect any material Facility, retain, at Company’s expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials at such Facility prepared by or for Company and (ii) in the event (a) Administrative Agent reasonably believes that Company or Holdings has breached any representation, warranty or covenant contained in subsection 5.6, 5.12, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Holdings or any of its Subsidiaries at any other location conduct its own investigation of such breach or violation or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Holdings or any of its Subsidiaries, Company and Holdings shall only be obligated to use commercially their reasonable best efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigationan investigation pursuant to clause (ii) of the preceding sentence, Company and Holdings hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Holdings or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewiththerewith (to the extent, at any Facility leased by Holdings or any of its Subsidiaries, such actions are permitted by the owner of such Facility). Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Holdings and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Holdings, Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees Holdings acknowledge and agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Holdings’ or Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Sealy Corp)
Environmental Review and Investigation. Company The Borrower agrees that the Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at the Borrower’s expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for the Borrower and (ii) in the event (A) the Administrative Agent reasonably believes that the Borrower has breached any representation, warranty or covenant contained in Sections 3.6, 3.13, 5.6, 5.7 or 5.8 or that there has been a material violation of Environmental Laws at any Facility or by the Borrower or any of its Subsidiaries at any other location or (B) an Event of Default has occurred and is continuing, subject to the terms of any applicable lease, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company the Borrower or any of its Subsidiaries, Company the Borrower shall only be obligated to use commercially reasonable its best efforts to obtain permission for the Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company subject to the terms of any applicable lease, the Borrower hereby grants to the Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company the Borrower and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Borrower and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C Section will be obtained and shall be used by the Administrative Agent and the Lenders for the purposes of the Lenders’ internal credit decisions, to monitor and police the Loans and to protect the Lenders’ security interests, if any, interests created by the Loan Credit Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrower with the understanding that Company the Borrower acknowledges and agrees that (x1) it will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Companythe Borrower’s use of or reliance on such report, (y2) neither the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z3) by delivering such report to Companythe Borrower, neither the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Pantry Inc)
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Company and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially its good faith and reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing asbestoscontaining materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans AXELs and to protect Lenders’ ' security interests, if any, created by the AXEL Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to AXEL CREDIT AGREEMENT EXECUTION 86 93 Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (JCS Realty Corp)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, (i) retain, at Borrower’s expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower, and (ii) if (a) Administrative Agent reasonably believes that Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6, 6.7B or 6.7C in any material respect or that there has been a material violation of Environmental Laws at any Facility or by Borrower or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company Borrower shall only be obligated to use all commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such review and/or investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, upon reasonable notice during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent Agent, Lead Arranger and each Lender from any costs, losses or liabilities relating to CompanyBorrower’s use of or reliance on such report, (y) neither Administrative Agent Agent, Lead Arranger nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent Agent, Lead Arranger nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Company and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially its good faith and reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Revolving Loans and to protect Lenders’ ' security interests, if any, created by the Revolving Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to REVOLVING LOAN CREDIT AGREEMENT EXECUTION 105 113 Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that If (a) Administrative Agent mayreasonably believes that Company or any Borrower or any of its or their Subsidiaries has breached any representation, from time to time and warranty or covenant contained in this subsection 5.8 or that there has been a material violation of Environmental Laws at any Mortgaged Property or by Company, any Borrower or any of its reasonable discretion, if or their Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own an investigation (including by retention, at Company’s expense, an independent professional consultant to do so) of any FacilityMortgaged Property; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company and each Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities Mortgaged Property currently owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Company, the relevant Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Company, Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.8C will be subject to the provisions of subsection 10.20 and will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, interests created by the Loan DocumentsDocuments or in connection with any transaction relating to the Loans or to such Facility. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees each Borrower acknowledge and agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees The Borrowers agree that the Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers’ expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Existing Site, the Site, the Existing Facility and is continuing, the Phase II Project prepared by or for Borrowers and (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries, Company the Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for the Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Borrowers hereby grants grant to the Administrative Agent and its their respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company the Borrowers and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Borrowers and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by the Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, interests created by the Loan Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrowers with the understanding that Company acknowledges the Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers’ use of or reliance on such report, (y) neither none of the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither none of the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Ff&e Facility Credit Agreement (Las Vegas Sands Corp)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) Administrative Agent reasonably believes that Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Borrower or any of its Subsidiaries at any other location or (ii) an Event of Default has occurred and is continuing, retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower or conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company Borrower shall only be obligated to use commercially its reasonable commercial efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that If (a) Administrative Agent mayreasonably believes that Company or any Borrower or any of its or their Subsidiaries has breached any representation, from time to time and warranty or covenant contained in this subsection 5.8 or that there has been a material violation of Environmental Laws at any Real Property Asset or by Company, any Borrower or any of its reasonable discretion, if or their Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, then Administrative Agent may conduct its own a reasonable investigation (including by retention, at Company’s expense, an independent professional consultant to do so) of any FacilityReal Property Asset; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, after notice reasonably under the circumstances given, Company and each Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities Real Property Asset currently owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Company, the relevant Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Company, Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.8 will be subject to the provisions of subsection 10.20 and will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, interests created by the Loan DocumentsDocuments or in connection with any transaction relating to the Loans or to such Facility. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees each Borrower acknowledge and agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company The Borrower agrees that the Administrative Agent may, from time following the occurrence of any event or the discovery of any condition that the Administrative Agent or the Required Lenders reasonably believes has caused (or could reasonably be expected to time cause) the representations and warranties set forth in its reasonable discretionSection 4.14 to be untrue in any respect that may result in a Material Adverse Effect:
(i) review, any environmental audits, investigations, analyses and reports (“Environmental Reports”) relating to Hazardous Materials in respect of any site or operation prepared by or for the Borrower by an independent professional consultant retained at the Borrower’s expense, and
(ii) if an Event reasonably determined to be necessary following review of Default has occurred and is continuingany Environmental Reports provided by the Borrower, conduct its own investigation of any Facility; provided that, site or operation and as to the compliance by any member of the Borrower Group with the representations and warranties set forth in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilitySection 4.14. For purposes of conducting such a review and/or investigation, Company the Borrower hereby grants to the Administrative Agent and its agents, employees, consultants and contractors the right (subject to the approval of any other Person from whom the Borrower Group is legally obligated to obtain permission or consent prior to granting access at such sites or operations) to enter into or onto any Facilities currently portion of any site or operation then owned, leased, operated or used by Company or any member of its Subsidiaries the Borrower Group and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility portion of any site or operation shall be conducted, unless otherwise agreed to by Company the Borrower and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility portion of any site or operation and all reasonable efforts shall be used not to cause any damage or loss to any property at such Facilityportion of the applicable site or operation. Company The Borrower and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C Section 5.9 will be obtained and shall be used by the Administrative Agent and the Term Loan Lenders for the purposes of the Term Loan Lenders’ internal credit decisions, to monitor and police the Loans and to protect the Term Loan Lenders’ security interests, if any, interests created by the Loan Collateral Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrower with the understanding that Company the Borrower acknowledges and agrees that (x) it the Borrower will indemnify and hold harmless the Administrative Agent and each Term Loan Lender from any costs, losses or liabilities relating to Companythe Borrower’s use of or reliance on such report, (y) neither the Administrative Agent nor any Term Loan Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrower, neither the Administrative Agent nor any Term Loan Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Borrowers agree that Administrative upon Agent's receipt of information which Agent reasonably determines may indicate the possibility of a Material Adverse Effect, Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Borrowers and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrowers or any of its their Restricted Subsidiaries, Company Borrowers shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrowers hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrowers or any of its their Restricted Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrowers and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative If requested by Borrowers, and provided no Event of Default or Potential Event of Default is outstanding, Agent agrees to deliver a copy of any such report to Company Borrowers with the understanding that Company acknowledges Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrowers' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrowers, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Agent reasonably believes the Company has breached any representation, warranty or covenant contained in Section 4.6, 4.13, 5.6 or 5.7 or that there has been a material violation of Environmental Laws at any Facility or by Company or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiariessubsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably reasonable practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C Section 5.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any and Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company Each Credit Party agrees that Administrative Agent may, from at any time to time and that Administrative Agent determines in its reasonable discretion, if (i) retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for any Credit Party or any of its Subsidiaries that any violation of Environmental Laws or risk of any Environmental Claim may exist or (ii) in the event (a) Administrative Agent reasonably believes that any Credit Party or any of its Subsidiaries has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by such Credit Party or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Credit Party or any of its Subsidiaries, Company the Credit Parties shall only be obligated to use their commercially reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Credit Parties hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company any Credit Party or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to unreasonably interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Each Credit Party and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Credit Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding and agreement that Company acknowledges the Credit Parties acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Credit Parties' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.. 91
Appears in 1 contract
Environmental Review and Investigation. Company Each Borrower agrees that the Administrative Agent may, from time following the occurrence of any event or the discovery of any condition that the Administrative Agent or the Majority Lenders reasonably believes has caused (or could reasonably be expected to time cause) the representations and warranties set forth in its reasonable discretionSection 4.14 to be untrue in any material respect, if (i) retain, at the Borrowers’ expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred any Facility prepared by or for any Borrower and is continuing, (ii) conduct its own investigation of any Facility; provided that, in Facility and as to the case of compliance by any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilitySubsidiaries with the representations and warranties set forth in Section 4.14. For purposes of conducting such a review and/or investigation, Company each Borrower hereby grants to the Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently portion of any Facility then owned, leased, operated or used by Company any Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any portion of any Facility shall be conducted, unless otherwise agreed to by Company the Borrowers and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such portion of any Facility or to cause any damage or loss to any property at such portion of the applicable Facility. Company Each Borrower and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C Section 5.9. will be obtained and shall be used by the Administrative Agent and the Lenders for the purposes of the Lenders’ internal credit decisions, to monitor and police the Loans and to protect the Lenders’ security interests, if any, interests created by the Loan Collateral Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrowers with the understanding that Company each Borrower acknowledges and agrees that (x) it will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers’ use of or reliance on such report, (y) neither the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Borrowers agree that Administrative upon DIP Agent's receipt of information which DIP Agent reasonably determines may indicate the possibility of a Material Adverse Effect, DIP Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Borrowers and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrowers or any of its their Restricted Subsidiaries, Company Borrowers shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative DIP Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrowers hereby grants grant to Administrative DIP Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrowers or any of its their Restricted Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrowers and Administrative DIP Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrowers and Administrative DIP Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative DIP Agent pursuant to this subsection 6.7C will be obtained and shall be used by Administrative DIP Agent and DIP Lenders for the purposes of DIP Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect DIP Lenders’ ' security interests, if any, created by the Loan Documents. Administrative If requested by Borrowers, and provided no Event of Default or Potential Event of Default is outstanding, DIP Agent agrees to deliver a copy of any such report to Company Borrowers with the understanding that Company acknowledges Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative DIP Agent and each DIP Lender from any costs, losses or liabilities relating to Company’s Borrowers' use of or reliance on such report, (y) neither Administrative DIP Agent nor any DIP Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrowers, neither Administrative DIP Agent nor any DIP Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Debtor in Possession Credit Agreement (Farmland Industries Inc)
Environmental Review and Investigation. Company agrees that Administrative Agent Facility Manager may, from time to time and in its reasonable discretion, if upon an Event of Default or upon a reasonable belief that an event has occurred that could result in a material Environmental Claim or in a Material Adverse Effect, (i) retain, at Company's expense, an independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Company and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Restricted Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s Facility Manager's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent Facility Manager and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Restricted Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative AgentFacility Manager, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent Facility Manager hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent Facility Manager pursuant to this subsection 6.7C 5.7A will be obtained and shall be used by Administrative Agent Facility Manager and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent Facility Manager agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent Facility Manager and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent Facility Manager nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent Facility Manager nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees The Borrowers agree that the Syndication Agent or the Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Existing Site, the Site, the Existing Facility and is continuing, the Phase II Project prepared by or for Borrowers and (ii) conduct its their own investigation of any Facility; provided PROVIDED that, in the case of any Facility no longer owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries, Company the Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for the Syndication Agent or the Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Borrowers hereby grants grant to the Syndication Agent and the Administrative Agent and its their respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and 108 suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company the Borrowers and the Syndication Agent or the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Borrowers, the Syndication Agent and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Syndication Agent or the Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by the Syndication Agent, the Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, interests created by the Loan Documents. The Syndication Agent and the Administrative Agent agrees each agree to deliver a copy of any such report to Company the Borrowers with the understanding that Company acknowledges the Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless the Administrative Agent, the Syndication Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers' use of or reliance on such report, (y) neither none of the Syndication Agent, the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither none of the Syndication Agent, the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event Administrative Agent reasonably believes that Company has materially breached any representation, warranty or covenant contained in subsections 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Default has occurred and is continuingEnvironmental Laws at any Facility or by Company or any of its Subsidiaries at any other location, conduct its own investigation of any FacilityFacility (such review (under subsection 6.7A(i)) or investigation (under subsection 6.7A(ii)) to be at Company's expense if such review or investigation results in the discovery of a material liability not previously disclosed to Administrative Agent); provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold 104 harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, report and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Arterial Vascular Engineering Inc)
Environmental Review and Investigation. Company agrees The Loan Parties agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) Administrative Agent reasonably believes that a Loan Party has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by any Loan Party or any of its Subsidiaries at any other location or (ii) an Event of Default has occurred and is continuing, retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for the Loan Parties or conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company any Loan Party or any of its Subsidiaries, Company the Loan Parties shall only be obligated to use commercially its reasonable commercial efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company the Loan Parties hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company the Loan Parties or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company The Loan Parties and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Borrowers agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrowers and (ii) in the event (a) Administrative Agent reasonably believes that Borrowers have breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Borrowers or any of their Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, -------- operated or used by Company Borrowers or any of its their Subsidiaries, Company Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrowers hereby grants grant to Administrative Agent and its agentsAdministrative Agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrowers and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrowers with the understanding that Company acknowledges Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrowers' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrowers, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report. Provided there is no Potential Event of Default or Event of Default, Administrative Agent shall request that its consultants and contractors state in such report or other written summary that Borrowers may use and rely thereon subject to the limitations imposed by such consultant and contractor on Administrative Agent's and Lenders' use and reliance.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Amf Bowling Worldwide Inc)
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if at Company's expense, (i) retain an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Company and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially its reasonable good faith efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. So long as no Event of Default or Potential Event of Default has occurred and is continuing, Administrative Agent shall provide reasonable notice to Company prior to the inspection of any Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither none of the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither none of the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Company and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its 111 Subsidiaries, Company shall only be obligated to use commercially its good faith and reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Revolving Loans and to protect Lenders’ ' security interests, if any, created by the Revolving Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Revolving Loan Credit Agreement (Amscan Holdings Inc)
Environmental Review and Investigation. Company agrees and Borrowers each agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Administrative Agent reasonably believes that Company or any Borrower or any of its or their Subsidiaries has breached any representation, warranty or covenant contained in this subsection 5.8 or that there has been a material violation of Environmental Laws at any Mortgaged Property or by Company, any Borrower or any of its or their Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any FacilityMortgaged Property; provided PROVIDED that, in the case of any Facility no longer owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company and each Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities Mortgaged Property currently owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Company, the relevant Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Company, Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.8C will be subject to the provisions of subsection 10.20 and will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, interests created by the Loan DocumentsDocuments or in connection with any transaction relating to the Loans or to such Facility. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees each Borrower acknowledge and agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company The Borrower agrees that the Administrative Agent may, from time following the occurrence of any event or the discovery of any condition that the Administrative Agent or the Majority Lenders reasonably believes has caused (or could reasonably be expected to time cause) the representations and warranties set forth in its reasonable discretionSection 4.14 to be untrue in any ------------ material respect, if (i) retain, at the Borrower's expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred any Facility prepared by or for the Borrower and is continuing, (ii) conduct its own investigation of any Facility; provided that, in Facility and as to the case of any Facility no longer owned, leased, operated or used compliance by Company the Borrower or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilitySubsidiaries with the representations and warranties set forth in Section 4.14. For purposes ------------ of conducting such a review and/or investigation, Company the Borrower hereby grants to the Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently portion of any Facility then owned, leased, operated or used by Company the Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any portion of any Facility shall be conducted, unless otherwise agreed to by Company the Borrower and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such portion of any Facility or to cause any damage or loss to any property at such portion of the applicable Facility. Company The Borrower and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C Section 5.9. will be obtained and shall be used by the Administrative Agent ------------ and the Lenders for the purposes of the Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect the Lenders’ ' security interests, if any, interests created by the Loan Collateral Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrower with the understanding that Company the Borrower acknowledges and agrees that (x) it will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrower's use of or reliance on such report, (y) neither the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrower, neither the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent Agents may, from time in their reasonable discretion (subject to time the limitations set forth below), (i) retain, at Company's expense, an independent professional consultant to review any environmental audits, investigations, analyses and in its reasonable discretion, if an Event of Default has occurred reports relating to Hazardous Materials prepared by or for Company and is continuing, (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially its reasonable best efforts to obtain permission for Administrative Agent’s Agents' professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent Agents and its their respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-asbestos- containing materials) as are reasonably necessary in connection therewiththerewith (to the extent, at 107 109 any Facility leased by Company or any of its Subsidiaries, such actions are permitted by the owner of such Facility). Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative AgentAgents, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent Agents hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent Agents pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent Agents and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees Agents agree to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative each Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent of the Agents nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent of the Agents nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report. Agents agree that they will not conduct a review pursuant to clause (i) of this subsection 6.7A more than once per year unless Agents reasonably believe that Company has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7, or that there has been a material violation of Environmental Laws at any Facility or by Company or any of its Subsidiaries at any other location or in the event an Event of Default has occurred and is continuing. Agents further agree that they will not undertake an investigation of a Facility pursuant to clause (ii) of this subsection 6.7A unless and to the extent Agents reasonably believe a material violation of Environmental Laws has occurred at such Facility or Agents reasonably believe Company or any of its Subsidiaries has breached or defaulted under its obligations, representations or warranties relating to compliance with Environmental Laws with respect to such Facility, as set forth in this Agreement; provided, however, Agents may undertake a new investigation of any Facility pursuant to clause (ii) above for any reason in the event an Event of Default has occurred and is continuing.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an Event of Default has occurred independent professional consultant to review any environmental audits, investigations, analyses and is continuing, reports relating to Hazardous Materials prepared by or for Company and (ii) conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially its good faith and reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans AXELs and to protect Lenders’ ' security interests, if any, created by the AXEL Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Borrowers agree that Administrative Agent may, from time to time and in its reasonable discretion, if a Potential Event of Default relating to environmental matters or an Event of Default has occurred and is continuing, retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrowers or conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilityReal Property Asset. For purposes of conducting such a review and/or investigation, Company Borrowers hereby grants grant to Administrative Agent and its agentsAdministrative Agents, employees, consultants 88 CREDIT AGREEMENT and contractors the right to enter into or onto any Facilities Real Property Assets currently owned, leased, operated or used by Company Borrowers or any of its Subsidiaries their Subsidiaries, subject to the rights of any tenants or lessees of Borrowers and their Subsidiaries, and to perform such so-called "Phase I" environmental assessment tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewithproperty. Any such investigation of any Facility Real Property Asset shall be conducted, unless otherwise agreed to by Company Borrowers and Administrative Agent, during normal business hours and, to the extent reasonably practicable, and shall be conducted so as not to interfere with the ongoing operations at such Facility Real Property Asset or to cause any damage or loss to any property at such FacilityReal Property Asset. Company Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrowers with the understanding that Company acknowledges Borrowers acknowledge and agrees agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrowers' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrowers, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (La Quinta Corp)
Environmental Review and Investigation. Company Each Borrower agrees that the Administrative Agent may, from time following the occurrence of any event or the discovery of any condition that the Administrative Agent or the Majority Lenders reasonably believes has caused (or could reasonably be expected to time cause) the representations and warranties set forth in its reasonable discretionSection 4.14 to be untrue in any ------------ material respect, if (i) retain, at the Borrowers' expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred any Facility prepared by or for any Borrower and is continuing, (ii) conduct its own investigation of any Facility; provided that, in Facility and as to the case of compliance by any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such FacilitySubsidiaries with the representations and warranties set forth in Section 4.14. For purposes ------------ of conducting such a review and/or investigation, Company each Borrower hereby grants to the Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently portion of any Facility then owned, leased, operated or used by Company any Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any portion of any Facility shall be conducted, unless otherwise agreed to by Company the Borrowers and the Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such portion of any Facility or to cause any damage or loss to any property at such portion of the applicable Facility. Company Each Borrower and the Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of the Administrative Agent pursuant to this subsection 6.7C Section 5.9. will be obtained and shall be used by the Administrative Agent ------------ and the Lenders for the purposes of the Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect the Lenders’ ' security interests, if any, interests created by the Loan Collateral Documents. The Administrative Agent agrees to deliver a copy of any such report to Company the Borrowers with the understanding that Company each Borrower acknowledges and agrees that (x) it will indemnify and hold harmless the Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s the Borrowers' use of or reliance on such report, (y) neither the Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Companythe Borrowers, neither the Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Agent reasonably believes that Company has breached any representation or warranty in subsection 4.13 or that there has been a material violation of Environmental Laws at any Facility or by Company or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right right, upon reasonable notice to Company, to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x1) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y2) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z3) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrower's expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Land, the Land or the Project prepared by or for Borrower and is continuing, (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its SubsidiariesSubsidiaries or Affiliates, Company Borrower shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto the Land and any other Facilities currently owned, leased, operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Borrowers agree that Administrative Agent Lender may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials in respect of Default has occurred the Site or the Project prepared by or for Borrowers and is continuing, (ii) conduct its their own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrowers or any of its their Subsidiaries, Company Borrowers shall only be obligated to use commercially reasonable their best efforts to obtain permission for Administrative Agent’s Lender's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrowers hereby grants grant to Administrative Agent Lender and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrowers or any of its their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrowers and Administrative AgentLender, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrowers and Administrative Agent Lender hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent Lender pursuant to this subsection 6.7C 5.7A will be obtained and shall be used by Administrative Agent and Lenders Lender for the purposes of Lenders’ Lender's internal credit decisions, to monitor and police the Loans and to protect Lenders’ Lender's security interests, if any, created by the Loan Documents. Administrative Agent Lender agrees to deliver a copy of any such report to Company Borrowers with the understanding that Company acknowledges Borrowers acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrowers' use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any no representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrowers, neither Administrative Agent nor any Lender is not requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Grand Canal Shops Mall Construction LLC)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, (i) retain, at Borrower's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower, and (ii) if (a) Administrative Agent reasonably believes that Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6, 6.7B or 6.7C in any material respect or that there has been a material violation of Environmental Laws at any Facility or by Borrower or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any -------- Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company Borrower shall only be obligated to use all commercially reasonable efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such review and/or investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, upon reasonable notice during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent Agent, Lead Arranger and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent Agent, Lead Arranger nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent Agent, Lead Arranger nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from at any time to time and that Agent determines in its reasonable discretiondiscretion that any violation of Environmental Laws or risk of any Environmental Claim may exist, if (i) retain, at Borrower's expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower or any of Default has occurred its Subsidiaries and is continuing, (ii) conduct its own investigation of any Facility; provided provided, that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company . Borrower shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, . operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C SECTION 5.7(A) will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ Agent's internal credit decisions, to monitor and police the Loans and to protect Lenders’ Agent's security interests, if any, interests created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any no representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is not requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees and Borrowers each agree that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Borrowers' expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Administrative Agent reasonably believes that Company or any Borrower or any of its or their Subsidiaries has breached any representation, warranty or covenant contained in this subsection 5.8 or that there has been a material violation of Environmental Laws at any Mortgaged Property or by Company, any Borrower or any of its or their Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any FacilityMortgaged Property; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company and each Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities Mortgaged Property currently owned, leased, operated or used by Company Company, any Borrower or any of its or their Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Company, the relevant Borrower and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Company, Borrowers and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 5.8C will be subject to the provisions of subsection 10.20 and will be obtained and shall be used by Administrative Agent and Lenders solely for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, interests created by the Loan DocumentsDocuments or in connection with any transaction relating to the Loans or to such Facility. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees each Borrower acknowledge and agree that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Environmental Review and Investigation. Company agrees Credit Agreement Parties agree that Administrative Agent may, from (i) at any time to time and a fact, event or condition arises that, in its Administrative Agent's reasonable discretion, if Administrative Agent determines could give rise to environmental liabilities at any Facility that would reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, retain, at Borrowers' expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials at such Facility prepared by or for Borrowers and (ii) in the event (a) Administrative Agent reasonably believes that any Credit Agreement Party has breached any representation, warranty or covenant contained in subsection 5.6 (as such subsection pertains to environmental matters), 5.13, 6.6 (as such subsection pertains to environmental matters) or 6.7 or that there has been a material violation of Environmental Laws at any Facility or by Holdings or any of its Subsidiaries at any other location, conduct its own investigation of such breach or violation or (b) an Event of Default has occurred and is continuingcontinuing and the repayment of any amount due hereunder has been accelerated, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigationan investigation pursuant to clause (ii) of the preceding sentence, Company Credit Agreement Parties hereby grants grant to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Holdings or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewiththerewith (to the extent, at any Facility leased by Holdings or any of its Subsidiaries, such actions are permitted by the owner of such Facility). Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Holdings and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Each Credit Agreement Party and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Holdings with the understanding that Company acknowledges Credit Agreement Parties acknowledge and agrees agree that (x) it they will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s any Credit Agreement Party's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyHoldings, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Dominos Inc)
Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if at Company's expense, (i) retain an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) upon receipt of information that there may exist at any Facility an environmental matter which, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect or there may exist at any Facility any Environmental Claims which, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect, or upon the occurrence of any Event of Default has occurred and is continuingDefault, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially its reasonable good faith efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its respective agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. So long as no Event of Default or Potential Event of Default has occurred and is continuing, Administrative Agent shall provide reasonable notice to Company prior to the inspection of any Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither none of the Administrative Agent nor or any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither none of the Administrative Agent nor or any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.. 108 EXECUTION
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Samples: Credit Agreement (Autotote Corp)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent may, from time to time and in its reasonable discretion, (i) retain, at Borrower’s expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower or any of its Restricted Subsidiaries, and (ii) if (a) Administrative Agent reasonably believes that Borrower has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6, 6.7B or 6.7C in any material respect or that there has been a material violation of Environmental Laws at any Facility or by Borrower or any of its Restricted Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Restricted Subsidiaries, Company Borrower shall only be obligated to use all commercially reasonable efforts to obtain permission for Administrative Agent’s professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company Borrower or any of its Restricted Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such review and/or investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative Agent, upon reasonable notice during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ internal credit decisions, to monitor and police the Loans and to protect Lenders’ security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent Agent, Lead Arranger and each Lender from any costs, losses or liabilities relating to CompanyBorrower’s use of or reliance on such report, (y) neither Administrative Agent Agent, Lead Arranger nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent Agent, Lead Arranger nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
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Environmental Review and Investigation. Company agrees that Administrative Agent may, from time to time and in its reasonable discretion, if (i) retain, at Company's expense, an independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Company and (ii) in the event (a) Administrative Agent reasonably believes that Company has breached any representation, warranty or covenant contained in subsection 5.6, 5.13, 6.6 or 6.7 or that there has been a material violation of (or is or may be a material liability under) Environmental Laws at any Facility or by Company or any of its Subsidiaries at any other location or (b) an Event of Default has occurred and is continuing, conduct its own investigation of any Facility; provided that, in the case of any Facility no longer owned, leased, operated or used by Company or any of its Subsidiaries, Company shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s 's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company hereby grants to Administrative Agent and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, operated or used by Company or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company and Administrative Agent, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company and Administrative Agent hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent pursuant to this subsection 6.7C 6.7A will be obtained and shall be used by Administrative Agent and Lenders for the purposes of Lenders’ ' internal credit decisions, to monitor and police the Loans and to protect Lenders’ ' security interests, if any, created by the Loan Documents. Administrative Agent agrees to deliver a copy of any such report to Company with the understanding that Company acknowledges and agrees that (x) it will indemnify and hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s 's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any representation or warranty with respect to such report, and (z) by delivering such report to Company, neither Administrative Agent nor any Lender is requiring or recommending the implementation of any suggestions or recommendations contained in such report.
Appears in 1 contract
Samples: Credit Agreement (Mitel Corp)
Environmental Review and Investigation. Company Borrower agrees that Administrative Agent Lender may, from at any time to time and that Lender determines in its reasonable discretiondiscretion that any violation of Environmental Laws or risk of any Environmental Claim may exist, if (i) retain, at Borrower's expense, an Event independent professional consultant to review any environmental audits, investigations, analyses and reports relating to Hazardous Materials prepared by or for Borrower or any of Default has occurred its Subsidiaries and is continuing, (ii) conduct its own investigation of any Facility; provided provided, that, in the case of any Facility no longer owned, leased, operated or used by Company Borrower or any of its Subsidiaries, Company . Borrower shall only be obligated to use commercially reasonable its best efforts to obtain permission for Administrative Agent’s Lender's professional consultant to conduct an investigation of such Facility. For purposes of conducting such a review and/or investigation, Company Borrower hereby grants to Administrative Agent Lender and its agents, employees, consultants and contractors the right to enter into or onto any Facilities currently owned, leased, . operated or used by Company Borrower or any of its Subsidiaries and to perform such tests on such property (including taking samples of soil, groundwater and suspected asbestos-containing materials) as are reasonably necessary in connection therewith. Any such investigation of any Facility shall be conducted, unless otherwise agreed to by Company Borrower and Administrative AgentLender, during normal business hours and, to the extent reasonably practicable, shall be conducted so as not to interfere with the ongoing operations at such Facility or to cause any damage or loss to any property at such Facility. Company Borrower and Administrative Agent Lender hereby acknowledge and agree that any report of any investigation conducted at the request of Administrative Agent Lender pursuant to this subsection 6.7C 5.7
(a) will be obtained and shall be used by Administrative Agent and Lenders Lender for the purposes of Lenders’ Lender's internal credit decisions, to monitor and police the Loans Loan and to protect Lenders’ Lender's security interests, if any, interests created by the Loan Documents. Administrative Agent Lender agrees to deliver a copy of any such report to Company Borrower with the understanding that Company Borrower acknowledges and agrees that (x) it will indemnify and ind hold harmless Administrative Agent and each Lender from any costs, losses or liabilities relating to Company’s Borrower's use of or reliance on such report, (y) neither Administrative Agent nor any Lender makes any no representation or warranty with respect to such report, and (z) by delivering such report to CompanyBorrower, neither Administrative Agent nor any Lender is not requiring or recommending the implementation of any suggestions or recommendations contained in such report.
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