Hazardous Materials Put Option Sample Clauses

Hazardous Materials Put Option. In addition to Landlord’s rights and remedies under Section 5.9 and Section 6.6 relating to Hazardous Materials, if, as of the date on which this Lease expires or terminates, any parcel of Land contains any Hazardous Materials that are materially in excess of the levels of Hazardous Materials reasonably anticipated in connection with the ordinary and proper legal use of a multi- functional baseball ballpark, coliseum, sports and community venue project designed to seat approximately 40,000 spectators, Landlord, at its sole option, may transfer, convey, or put such affected parcel(s) to Tenant, and Tenant shall accept such parcel(s). Without limiting the generality of the foregoing, any Hazardous Materials at levels in excess of the Tier 1 Protective Concentration Levels applicable to industrial and commercial property (in effect as of the Effective Date) or any corresponding standards subsequently adopted by the Texas Commission on Environmental Quality or its successor shall be considered “material.” Landlord’s conveyance pursuant to the put option shall be by means of a special warranty deed which shall be countersigned by Tenant (or the other entity designated by Tenant) to (i) acknowledge the release of Landlord for any liability in connection with Hazardous Materials on the land as described in this Section, and (ii) expressly reserve any rights to pursue liability against third parties with respect to Hazardous Materials. In addition to any other rights or remedies of Landlord under this Lease, Landlord may enforce the foregoing put option through specific performance without pursuing the dispute resolution procedures set forth in Section 9.5 and Exhibit B (Section 9.5 notwithstanding to the contrary). Landlord may not exercise the put option described in this Section 5.10 if Landlord actively introduced the Hazardous Materials to the Land which would otherwise give rise to such put option. In the event that Landlord exercises such option, Landlord shall reasonably cooperate with Tenant (or the entity designated by Tenant to acquire title to the Land) in order to permit Tenant (or the designated entity) to pursue any lawfully available remedies against any third party which may be responsible for the presence or increase of Hazardous Materials on the Land. The terms and conditions of this Section 5.10 shall survive the termination of this Lease.
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Related to Hazardous Materials Put Option

  • Hazardous Materials Tenant shall not keep on the Premises any item of a dangerous, flammable or explosive character that might unreasonably increase the danger of fire or explosion on the Premises or that might be considered hazardous or extra hazardous by any responsible insurance company.

  • Hazardous Material Such Obligor will not, and will not permit any of its Subsidiaries to, use, generate, manufacture, install, treat, release, store or dispose of any Hazardous Material, except in compliance with all applicable Environmental Laws or where the failure to comply could not reasonably be expected to result in a Material Adverse Change.

  • No Hazardous Materials (A) have been disposed of or otherwise released from any Real Property of the Company or any of its Subsidiaries in violation of any Environmental Laws; or

  • Hazardous Substances The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos.

  • Hazardous Substance Hazardous Substance" shall mean any chemical, substance, material, or waste, including without limitation asbestos, PCBs and formaldehyde, that is defined, classified, listed, or designated as hazardous, toxic, or radioactive, or by other similar term, by any federal, state, or local environmental statute, regulation, rule, order, or ordinance presently in effect.

  • Dangerous Materials Tenant shall not keep or have on the Premises any article or thing of a dangerous, flammable, or explosive character that might substantially increase the danger of fire on the Premises, or that might be considered hazardous by a responsible insurance company, unless the prior written consent of Landlord is obtained and proof of adequate insurance protection is provided by Tenant to Landlord.

  • 342 Hazardous Substances Purchaser shall notify the National Response Center and Contracting Officer of all releases of reportable quantities of hazardous substances on or in the vicinity of Sale Area that are caused by Purchaser’s employees, agents, contractors, Subcontractors, or their employees or agents, directly or indirectly, as a result of Purchaser’s Operations, in accordance with 40 CFR 302.

  • DISCOVERY OF HAZARDOUS MATERIALS If, during the performance of the Work, Contractor or Contractor’s subcontractor(s) encounter material believed to be asbestos, polychlorinated biphenyl (PCB), or any other identified or non-identified potentially hazardous material (which has not been rendered harmless and labeled as such), Contractor and Contractor’s subcontractor(s) shall immediately stop work in the area affected and report the condition, in writing, to District. The Work in the affected area shall not continue or be resumed except by written direction of District and by agreement by Contractor.

  • Hazardous Conditions The Contractor and Owner acknowledge that previously unknown hazardous conditions may be uncovered at any job site, and in particular where existing structures are being demolished and/or remodeled to accommodate new construction or to reutilize existing facilities. Should a hazardous condition not involving Hazardous Materials as set forth above be encountered on the Site, and should reasonable safety precautions be deemed by the Contractor in good faith to be inadequate to prevent foreseeable personal injury to persons encountering the hazardous condition, the Contractor shall, upon recognizing the hazardous condition, stop work in the affected area and immediately report the hazardous condition to the Design Professional and Owner in writing. The Owner shall undertake, or shall contract (by Change Order) with the Contractor or contract with a Separate Contractor, to resolve the condition. So long as the hazardous condition did not result from activities or substances brought on the Site by the Contractor, the Contractor is entitled to adjustments in the Contract Time and the Contract Sum as set forth in Paragraph 1.6.1.2 above.

  • Toxic or Hazardous Substance Any substance designated or defined as toxic or hazardous under any “Environmental Law” or that poses a risk to human health or safety, or the environment, and products and materials containing such substance. “

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