HAZARDOUS MATERIALS INDEMNITY. Tenant shall receive, handle, process, use dispose of and store all Hazardous Materials brought upon, kept, or used in or about the Premises by Tenant or any Tenant Parties in compliance with all Environmental Laws, and Tenant and Tenant Parties shall only store or use on the Premises such Hazardous Materials as may be necessary or useful to Tenant’s Business and only in such amounts as are reasonably necessary and are received, stored, processed, used, disposed of and handled in compliance with the requirements of applicable Environmental Laws. In no event shall Tenant dispose of Hazardous Materials on Landlord’s Property or in any body of water surrounding Landlord’s Property. Notwithstanding the foregoing Landlord consents to the permits listed on Exhibit G attached hereto and made a part hereof, and will not unreasonably withhold its consent to similar permits related to air and water quality, and to the extent that disposal of waste water or emission of air pursuant to such permits is deemed disposal of Hazardous Materials, Landlord hereby consents to such disposal as long s the disposal is made in accordance with the terms of the permit and Environmental Laws. If Tenant breaches the obligations stated in first two sentences of this paragraph (subject to the foregoing sententce), or if Tenant or a Tenant Party otherwise causes a Release (as defined below) of Hazardous Materials (as defined below) on, in or under the Premises (collective a “Tenant Environmental Breach”), then Tenant shall indemnify, defend and hold Landlord harmless from any and all claims, judgments, damages, penalties, fines, costs, liabilities or losses (including, without limitation, sums paid in settlement of claims, attorneys’ fees, consultant fees and expert fees) which arise during or after the Term as a result of such Tenant Environmental Breach (which obligation to defend, indemnify and hold Landlord harmless shall survive the expiration or earlier termination of this Lease). This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any Remediation (as defined below) that Landlord shall be obligated by applicable Environmental Law to make in response to a Tenant Environmental Breach, including costs of any investigations or reports necessary in connection with such Remediation. Without limiting the foregoing, in response to a Tenant Environmental Breach, Tenant shall promptly conduct all Remediation necessary to comply with applicable Environmental Laws relating to Tenant Environmental Breach; provided that Landlord’s approval of such actions shall first be obtained, which approval shall not be unreasonably withheld, conditioned or delayed; provided further that if the Prior Contracts do not permit Tenant to undertake Remediation, then Landlord or the party specified in the Prior Contracts shall undertake the Remediation and Tenant shall pay the reasonable costs and expenses of Remediation. Tenant shall have no obligation under this Lease to perform any Remediation that is not necessitated by a Tenant Environmental Breach. Notwithstanding any other provision in this Lease, Tenant shall have no obligation to Landlord for (i) any Release of Hazardous Materials at, on, under or from the Landlord’s Property or the Premises that is not caused by Tenant or any Tenant Party (which shall be referred to herein as a “Landlord Release” whether or not Landlord is the cause of such Release) or (ii) Landlord’s noncompliance with Environmental Laws, (i) and (ii) collectively, “Landlord Environmental Condition”. Landlord shall indemnify, defend and hold Tenant and the Tenant Parties harmless from any and all claims, judgments, damages, penalties, fines, costs, liabilities or losses (including, without limitation, sums paid in settlement of claims, attorneys’ fees, consultant fees and expert fees) which arise from and after the Effective Date or during or after the Term as a result of a Landlord Environmental Condition (which obligation to defend, indemnify and hold Tenant or any Tenant Party harmless shall survive the expiration or earlier termination of this Lease). This indemnification of Tenant by Landlord includes, without limitation, costs incurred in connection with any Remediation that Tenant is required to make under any Environmental Law or that is made by Tenant to protect Tenant, any Tenant Party or the public from a bona fide threat to their health or safety. Without limiting the foregoing, in response to a Landlord Environmental Condition, Landlord shall promptly effect any Remediation necessary to comply with applicable Environmental Laws or to respond to a bona fide threat to the health or safety of Tenant, any Tenant Party or the public, in each case relating to such Landlord Environmental Condition. In performing any such Remediation, Landlord shall not impair Tenant’s ability to operate Tenant’s Business. Tenant acknowledges that it has reviewed various environmental reports provided by Landlord which are listed on Exhibit E attached hereto, and that the Hazardous Materials identified through sampling therein do not constitute a bona fide threat to the health or safety of Tenant, any Tenant Party or the public Tenant further acknowledges that prior to the Rent Commencement Date, it will inspect the improvements on the Premises, and agrees that if it does not terminate the Lease pursuant to the provisions of Section 2.3 (1), it shall manage during the Term the Hazardous Materials described in clauses (iii) through (v) and (vii) of the next paragraph in accordance with Environmental Laws but only to the extent such management obligations result from disturbance of those materials by Tenant and except for the substation located on the Premises.
Appears in 1 contract
Samples: Lease Agreement (New Generation Biofuels Holdings, Inc)
HAZARDOUS MATERIALS INDEMNITY. Tenant Exchangor shall receivealso indemnify, handledefend, processprotect and hold Intermediary, use dispose of and store all Hazardous Materials brought uponQualified Escrow Holder, kepttheir directors, or used in or about the Premises by Tenant or any Tenant Parties in compliance with all Environmental Lawsofficers, employees, and Tenant agents, free and Tenant Parties shall only store or use on the Premises such Hazardous Materials as may be necessary or useful to Tenant’s Business and only in such amounts as are reasonably necessary and are received, stored, processed, used, disposed of and handled in compliance with the requirements of applicable Environmental Laws. In no event shall Tenant dispose of Hazardous Materials on Landlord’s Property or in any body of water surrounding Landlord’s Property. Notwithstanding the foregoing Landlord consents to the permits listed on Exhibit G attached hereto and made a part hereof, and will not unreasonably withhold its consent to similar permits related to air and water quality, and to the extent that disposal of waste water or emission of air pursuant to such permits is deemed disposal of Hazardous Materials, Landlord hereby consents to such disposal as long s the disposal is made in accordance with the terms of the permit and Environmental Laws. If Tenant breaches the obligations stated in first two sentences of this paragraph (subject to the foregoing sententce), or if Tenant or a Tenant Party otherwise causes a Release (as defined below) of Hazardous Materials (as defined below) on, in or under the Premises (collective a “Tenant Environmental Breach”), then Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, judgmentsliabilities, damages, penalties, fines, costsforfeitures, liabilities losses or losses expenses (including, without limitation, sums paid in settlement of claims, including attorneys’ fees), consultant fees and expert fees) which arise during whether by death or after injury to person, damage to property or otherwise, arising from or caused in whole or in part, directly or indirectly, by the Term as a result of such Tenant Environmental Breach (which obligation to defend, indemnify and hold Landlord harmless shall survive the expiration or earlier termination of this Lease). This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any Remediation (as defined below) that Landlord shall be obligated by applicable Environmental Law to make in response to a Tenant Environmental Breach, including costs of any investigations or reports necessary in connection with such Remediation. Without limiting the foregoing, in response to a Tenant Environmental Breach, Tenant shall promptly conduct all Remediation necessary to comply with applicable Environmental Laws relating to Tenant Environmental Breach; provided that Landlord’s approval of such actions shall first be obtained, which approval shall not be unreasonably withheld, conditioned or delayed; provided further that if the Prior Contracts do not permit Tenant to undertake Remediation, then Landlord or the party specified in the Prior Contracts shall undertake the Remediation and Tenant shall pay the reasonable costs and expenses of Remediation. Tenant shall have no obligation under this Lease to perform any Remediation that is not necessitated by a Tenant Environmental Breach. Notwithstanding any other provision in this Lease, Tenant shall have no obligation to Landlord for (i) any Release of Hazardous Materials atpresence in, on, under or from about the Landlord’s Relinquished Property or the Premises that is not caused by Tenant Replacement Property or any Tenant Party improvements thereon of any “Hazardous Materials” (which shall be referred to herein as a “Landlord Release” whether hereinafter defined), or not Landlord is the cause release, use, analysis, discharge or generation of such Release) Hazardous Materials to, in, on, under, or (ii) Landlord’s noncompliance with Environmental Laws, (i) and (ii) collectively, “Landlord Environmental Condition”. Landlord shall indemnify, defend and hold Tenant and the Tenant Parties harmless about or from any such property or improvements thereon, to the extent such liabilities and all claimsclaims arise from or are attributable to the specific obligations of the Intermediary or Qualified Escrow Holder pursuant to the Master Qualified Escrow Agreement, judgments, damages, penalties, fines, costs, liabilities or losses (includingto which this EXHIBIT “A” is attached. Exchangor’s obligations hereunder shall include, without limitation, sums paid in settlement and whether foreseeable or unforeseeable, all costs, expenses, fines and penalties of claimsany required or necessary repair, attorneys’ feescleanup, consultant fees and expert fees) which arise from and after remedial, removal, or detoxification or decontamination of all or part of the Effective Date or during or after Relinquished Property, the Term as a result of a Landlord Environmental Condition (which obligation to defendReplacement Property, indemnify and hold Tenant any other affected property, or any Tenant Party harmless improvements, and the preparation and implementation of any closure, remedial action or other required plans in connection therewith, and these obligations to indemnify Intermediary and Qualified Escrow Holder, and their officers, directors, employees, and agents, shall survive the expiration transfer of any such Property or earlier termination improvements to Intermediary’s successor in interest. For purpose of the indemnity provisions hereof, any acts or omissions of, or by, employees, agents, assignees, or representatives of Exchangor or others acting for or on behalf of Exchangor (whether or not they are negligent, intentional, willful or unlawful) shall be strictly attributable to Exchangor. For the purposes of this Leaseparagraph, “Hazardous Materials” shall include but not be limited to substances defined as “hazardous substance, “Hazardous Materials”, or “toxic substances” in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et. seq. (“CERCLA”). This indemnification of Tenant by Landlord includes, without limitation, costs incurred in connection with any Remediation that Tenant is required to make under any Environmental Law or that is made by Tenant to protect Tenant, any Tenant Party or the public from a bona fide threat to their health or safety. Without limiting the foregoing, in response to a Landlord Environmental Condition, Landlord shall promptly effect any Remediation necessary to comply with applicable Environmental Laws or to respond to a bona fide threat to the health or safety of Tenant, any Tenant Party or the public, in each case relating to such Landlord Environmental Condition. In performing any such Remediation, Landlord shall not impair Tenant’s ability to operate Tenant’s Business. Tenant acknowledges that it has reviewed various environmental reports provided by Landlord which are listed on Exhibit E attached hereto, and that ; the Hazardous Materials identified through sampling therein do not constitute a bona fide threat Transportation Act, 49 U.S.C. Section 1801, et. seq.; the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et. seq.; or as any said above-mentioned laws may be amended from time to time, and in the regulations adopted and the publications promulgated pursuant to said laws. In the event the terms, “hazardous substance” or “toxic substance” are defined more broadly under any applicable state or local law, the broadest definition shall apply. For the purposes of the indemnity provision hereof, the term “hazardous substance”, shall include crude oil, petroleum and their fractions, and oil and gas exploration and production wastes that could reasonably be expected to present an endangerment to public health or safety of Tenant, any Tenant Party welfare or the public Tenant further acknowledges that prior to environment, even if such wastes are specifically exempt from classification as a hazardous substance under CERCLA. Attached and made a part of the Rent Commencement DateMaster Qualified Escrow Agreement among PETROLEUM STRATEGIES, it will inspect the improvements on the PremisesINC. (“Intermediary”), BANK OF TEXAS, N. A., a national banking association (“Bank”), as QUALIFIED ESCROW HOLDER (“Qualified Escrow Holder”), and agrees that if it does not terminate the Lease pursuant to the provisions of Section 2.3 TOREADOR RESOURCES CORPORATION (1“Exchangor”), it shall manage during the Term the Hazardous Materials described in clauses (iii) through (v) dated January 9, 2004. THE FOLLOWING AUTHORIZED SIGNATORIES and (vii) of the next paragraph in accordance with Environmental Laws but only to the extent such management obligations result from disturbance of those materials by Tenant and except their signatures are set forth for the substation located on disbursement of Funds from the Premises.Escrow Account: FOR EXCHANGOR: /s/ Xxxxxxx X. Xxxx Xxxxxxx X. Xxxx Xx. Vice President & CFO
Appears in 1 contract
Samples: Master Qualified Escrow Agreement (Toreador Resources Corp)
HAZARDOUS MATERIALS INDEMNITY. Tenant shall receive, handle, process, use dispose of and store all Hazardous Materials brought upon, kept, or used in or about the Premises by Tenant or any Tenant Parties in compliance with all Environmental Laws, and Tenant and Tenant Parties shall only store or use on the Premises such Hazardous Materials as may be necessary or useful to Tenant’s Business and only in such amounts as are reasonably necessary and are received, stored, processed, used, disposed of and handled in compliance with the requirements of applicable Environmental Laws. In no event shall Tenant dispose of Hazardous Materials on Landlord’s Property or in any body of water surrounding Landlord’s Property. Notwithstanding the foregoing Landlord consents to the permits listed on Exhibit G attached hereto and made a part hereof, and will not unreasonably withhold its consent to similar permits related to air and water quality, and to the extent that disposal of waste water or emission of air pursuant to such permits is deemed disposal of Hazardous Materials, Landlord Borrower hereby consents to such disposal as long s the disposal is made in accordance with the terms of the permit and Environmental Laws. If Tenant breaches the obligations stated in first two sentences of this paragraph (subject to the foregoing sententce), or if Tenant or a Tenant Party otherwise causes a Release (as defined below) of Hazardous Materials (as defined below) on, in or under the Premises (collective a “Tenant Environmental Breach”), then Tenant shall indemnify, defend and hold Landlord harmless from any and all claims, judgments, damages, penalties, fines, costs, liabilities or losses (including, without limitation, sums paid in settlement of claims, attorneys’ fees, consultant fees and expert fees) which arise during or after the Term as a result of such Tenant Environmental Breach (which obligation agrees to defend, indemnify and hold Landlord harmless shall survive the expiration or earlier termination Indemnified Parties from and against any and all Liabilities and Costs (but expressly excluding punitive damages and diminution in value of this Lease). This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any Remediation (as defined below) that Landlord shall be obligated by applicable Environmental Law to make in response to a Tenant Environmental Breach, including costs of any investigations or reports necessary in connection with such Remediation. Without limiting the foregoing, in response to a Tenant Environmental Breach, Tenant shall promptly conduct all Remediation necessary to comply with applicable Environmental Laws Property relating to Tenant Environmental Breach; provided that Landlord’s approval Liabilities and Costs over and above the maximum Loan amount) which Lender may incur as a direct or indirect consequence of such actions shall first be obtainedthe use, which approval shall not be unreasonably withheldgeneration, conditioned manufacture, storage, disposal, threatened disposal, transportation or delayed; provided further that if the Prior Contracts do not permit Tenant to undertake Remediation, then Landlord or the party specified in the Prior Contracts shall undertake the Remediation and Tenant shall pay the reasonable costs and expenses of Remediation. Tenant shall have no obligation under this Lease to perform any Remediation that is not necessitated by a Tenant Environmental Breach. Notwithstanding any other provision in this Lease, Tenant shall have no obligation to Landlord for (i) any Release presence of Hazardous Materials atin, on, under or about the Property. Borrower shall immediately pay to Lender upon demand any amounts owing under this indemnity, together with interest from the Landlorddate the indebtedness arises until paid at the rate of interest applicable to the principal balance of the Note. Borrower’s Property or the Premises that is not caused by Tenant or any Tenant Party (which shall be referred to herein as a “Landlord Release” whether or not Landlord is the cause of such Release) or (ii) Landlord’s noncompliance with Environmental Laws, (i) duty and (ii) collectively, “Landlord Environmental Condition”. Landlord shall indemnify, defend and hold Tenant and the Tenant Parties harmless from any and all claims, judgments, damages, penalties, fines, costs, liabilities or losses (including, without limitation, sums paid in settlement of claims, attorneys’ fees, consultant fees and expert fees) which arise from and after the Effective Date or during or after the Term as a result of a Landlord Environmental Condition (which obligation obligations to defend, indemnify and hold Tenant or any Tenant Party harmless Lender shall survive the expiration cancellation of the Note and the release, reconveyance or partial reconveyance of the Deed of Trust. Notwithstanding anything to the contrary contained herein, the foregoing indemnification obligation shall not apply to claims, demands, suits, actions, liabilities, costs, damages or expenses (a) of an Indemnified Party to the extent that the subject of such indemnification obligation is or was caused by or arises of the sole gross negligence or willful misconduct or fraud of that particular Indemnified Party or (b) that were first introduced to the Property by a party other than Borrower, Guarantor, any Affiliate of either of the foregoing or any officer or principal of any of the same, on or after the Transition Date. As used herein, the term “Transition Date” shall mean the earlier termination to occur of this Lease(i) the date, if any, on which the Indebtedness has been paid, performed and finally discharged in full (without possibility for disgorgement). This indemnification , and the Deed of Tenant Trust has been released or reconveyed, and (ii) the date on which the Lien of the Deed of Trust is fully and finally foreclosed or a conveyance by Landlord includesdeed in lieu of such foreclosure is fully and finally effective and possession of the Property has been given to and accepted by Lender or any other purchaser or grantee free of occupancy and claims to occupancy by Borrower and its heirs, without limitationdevisees, costs incurred representatives, successors and assigns; provided that, if such payment, performance, release, foreclosure or conveyance is challenged, in bankruptcy proceedings or otherwise, the Transition Date shall be deemed to not to have occurred until such challenge is validly released, dismissed with prejudice or otherwise barred by law from further assertion; provided, however, that in connection with any Remediation that Tenant is required to make under any Environmental Law or that is made by Tenant to protect Tenant, any Tenant Party or the public from a bona fide threat to their health or safety. Without limiting the foregoing, in response to a Landlord Environmental Condition, Landlord Borrower (and not Lender) shall promptly effect any Remediation necessary to comply with applicable Environmental Laws or to respond to a bona fide threat to have the health or safety burden of Tenant, any Tenant Party or the public, in each case relating to such Landlord Environmental Condition. In performing proving that any such Remediationdeposit, Landlord shall not impair Tenant’s ability to operate Tenant’s Business. Tenant acknowledges that it has reviewed various environmental reports provided by Landlord which are listed release or discharge first occurred on Exhibit E attached hereto, and that or after the Hazardous Materials identified through sampling therein do not constitute a bona fide threat to the health or safety of Tenant, any Tenant Party or the public Tenant further acknowledges that prior to the Rent Commencement Transition Date, it will inspect the improvements on the Premises, and agrees that if it does not terminate the Lease pursuant to the provisions of Section 2.3 (1), it shall manage during the Term the Hazardous Materials described in clauses (iii) through (v) and (vii) of the next paragraph in accordance with Environmental Laws but only to the extent such management obligations result from disturbance of those materials by Tenant and except for the substation located on the Premises.
Appears in 1 contract
Samples: Loan Agreement (Behringer Harvard Opportunity REIT II, Inc.)
HAZARDOUS MATERIALS INDEMNITY. Tenant shall receiveBorrower hereby agrees to defend, handle, process, use dispose of and store all Hazardous Materials brought upon, kept, or used in or about the Premises by Tenant or any Tenant Parties in compliance with all Environmental Laws, and Tenant and Tenant Parties shall only store or use on the Premises such Hazardous Materials as may be necessary or useful to Tenant’s Business and only in such amounts as are reasonably necessary and are received, stored, processed, used, disposed of and handled in compliance with the requirements of applicable Environmental Laws. In no event shall Tenant dispose of Hazardous Materials on Landlord’s Property or in any body of water surrounding Landlord’s Property. Notwithstanding the foregoing Landlord consents to the permits listed on Exhibit G attached hereto and made a part hereof, and will not unreasonably withhold its consent to similar permits related to air and water quality, and to the extent that disposal of waste water or emission of air pursuant to such permits is deemed disposal of Hazardous Materials, Landlord hereby consents to such disposal as long s the disposal is made in accordance with the terms of the permit and Environmental Laws. If Tenant breaches the obligations stated in first two sentences of this paragraph (subject to the foregoing sententce), or if Tenant or a Tenant Party otherwise causes a Release (as defined below) of Hazardous Materials (as defined below) on, in or under the Premises (collective a “Tenant Environmental Breach”), then Tenant shall indemnify, defend indemnify and hold Landlord harmless Lender, its directors, officers, employees, agents, successors and assigns from and against any and all losses, damages, liabilities, claims, actions, judgments, damages, penalties, fines, costs, liabilities court costs and legal or losses other expenses (including, without limitation, sums paid in settlement of claims, attorneys’ fees, consultant fees and expert feesexpenses) which arise during or after the Term Lender may incur as a result direct or indirect consequence of such Tenant Environmental Breach (which obligation the use, generation, release, manufacture, storage, disposal, threatened disposal, transportation or presence of Hazardous Materials in, on, under or about the Property. Borrower shall immediately pay to Lender upon demand any amounts owing under this indemnity, together with interest from the date the indebtedness arises until paid at the rate of interest applicable to the principal balance of the note. Borrower’s duty and obligations to defend, indemnify and hold Landlord harmless Lender shall survive the expiration cancellation of the Note and the release, reconveyance or earlier termination partial reconveyance of this Lease)the Deed of Trust. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any Remediation (as defined below) that Landlord shall be obligated by applicable Environmental Law The foregoing indemnity and agreement to make in response to a Tenant Environmental Breach, including costs of any investigations or reports necessary in connection with such Remediation. Without limiting the foregoing, in response to a Tenant Environmental Breach, Tenant shall promptly conduct all Remediation necessary to comply with applicable Environmental Laws relating to Tenant Environmental Breach; provided that Landlord’s approval of such actions shall first be obtained, which approval shall not be unreasonably withheld, conditioned or delayed; provided further that if the Prior Contracts do not permit Tenant to undertake Remediation, then Landlord or the party specified in the Prior Contracts shall undertake the Remediation and Tenant shall pay the reasonable costs and expenses of Remediation. Tenant shall have no obligation under this Lease to perform any Remediation that is not necessitated by a Tenant Environmental Breach. Notwithstanding any other provision in this Lease, Tenant shall have no obligation to Landlord for (i) any Release of Hazardous Materials at, on, under or from the Landlord’s Property or the Premises that is not caused by Tenant or any Tenant Party (which shall be referred to herein as a “Landlord Release” whether or not Landlord is the cause of such Release) or (ii) Landlord’s noncompliance with Environmental Laws, (i) and (ii) collectively, “Landlord Environmental Condition”. Landlord shall indemnify, defend and hold Tenant and harmless shall not apply to the Tenant Parties harmless from extent any and all losses, damages, liabilities, claims, actions, judgments, damages, penalties, fines, costs, liabilities court costs and legal or losses (including, without limitation, sums paid in settlement other expenses arise out of claims, attorneys’ fees, consultant fees and expert fees) which arise or result from and Hazardous Materials that first come into existence on the Property or improvements after the Effective Date earlier of (a) the full repayment of the Loan and indefeasible satisfaction of all of Borrower’s obligations under the Loan Documents or during (b) any foreclosure under the Deed of Trust or after transfer of the Term as a result Property by deed-in-lieu thereof; Loan No. 105093 provided, however, that the foregoing limitation shall cease to apply if any amount repaid or required to be repaid by Borrower under any of a Landlord Environmental Condition (which obligation to defend, indemnify and hold Tenant the Loan Documents or any Tenant Party harmless shall survive the expiration of Borrower’s other obligations thereunder is at any time voided or earlier termination of this Lease). This indemnification of Tenant by Landlord includes, without limitation, costs incurred in connection with any Remediation that Tenant is required to make under any Environmental Law or that is made by Tenant to protect Tenant, any Tenant Party or the public from a bona fide threat to their health or safety. Without limiting the foregoing, in response to a Landlord Environmental Condition, Landlord shall promptly effect any Remediation necessary to comply with applicable Environmental Laws or to respond to a bona fide threat to the health or safety of Tenant, any Tenant Party or the public, in each case relating to such Landlord Environmental Condition. In performing any such Remediation, Landlord shall not impair Tenant’s ability to operate Tenant’s Business. Tenant acknowledges that it has reviewed various environmental reports provided by Landlord which are listed on Exhibit E attached hereto, and that the Hazardous Materials identified through sampling therein do not constitute a bona fide threat to the health or safety of Tenant, any Tenant Party or the public Tenant further acknowledges that prior to the Rent Commencement Date, it will inspect the improvements on the Premises, and agrees that if it does not terminate the Lease otherwise rendered unenforceable pursuant to the provisions of Section 2.3 (1)any state or federal bankruptcy, it shall manage during the Term the Hazardous Materials described in clauses (iii) through (v) and (vii) of the next paragraph in accordance with Environmental Laws but only to the extent such management obligations result from disturbance of those materials by Tenant and except for the substation located on the Premisesinsolvency, fraudulent transfer, fraudulent conveyance or preference law, act, statute or regulation.
Appears in 1 contract
