Common use of Hazardous Waste Clause in Contracts

Hazardous Waste. Borrower has furnished to Bank a the Bank's Environmental Risk Assessment Questionnaire dated May 2, 2003, prepared by Borrower (the "Report"). Except as disclosed to Bank in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank in writing, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank at any time has a reasonable belief that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by Bank, Borrower shall obtain and furnish to Bank, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to Bank. In the event that Borrower fails to immediately obtain such audit or inspection, Bank or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank prior to Bank acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank in the position of an owner of the Property prior to any acquisition of the Property by Bank. The rights granted to Bank herein and in the other Loan Documents are granted solely for the protection of Bank's lien and security interest covering the Property, and do not grant to Bank the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Deed of Trust (Professional Veterinary Products LTD /Mo/)

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Hazardous Waste. Borrower has furnished to Bank Lender a the Bank's Phase I Environmental Risk Assessment Questionnaire dated May 2November 6, 20032002, prepared by Borrower Sxxxx International, Inc., (the "Report"). Except as disclosed to Bank Lender in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Lender in writing, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials, except for reasonable quantities of ordinary office supplies, cleaning supplies, insecticides, pesticides, and paint used in the normal operation and maintenance of the Property, provided that the same are used, stored, handled, and disposed of in accordance with applicable laws. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's ’s expense. In the event that Bank Lender at any time has a reasonable belief reason to believe that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by BankLender, Borrower shall obtain promptly order, diligently pursue obtaining and furnish to BankLender, at Borrower's ’s sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankLender. In the event that Borrower fails to immediately obtain such audit or inspection, Bank Lender or its agents may perform or obtain such audit or inspection at Borrower's ’s sole cost and expense. Bank Lender may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Lender as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank Lender prior to Bank Lender acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank Lender in the position of an owner of the Property prior to any acquisition of the Property by BankLender. The rights granted to Bank Lender herein and in the other Loan Documents are granted solely for the protection of Bank's Lender’s lien and security interest covering the Property, and do not grant to Bank Lender the right to control Borrower's ’s actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Deed of Trust (Us Home Systems Inc /Tx)

Hazardous Waste. Borrower Guarantor has furnished to Bank METLIFE a the Bank's Phase I --------------- Environmental Risk Assessment Questionnaire dated May 2September 23, 20031996, Job No. 1007, prepared by Borrower Atlanta Testing & Engineering (the "Engineer"), and related Asbestos Survey dated September 23, 1996, and an Environmental Questionnaire dated December 17, 1996 (collectively, the "Report"). Except as disclosed to Bank METLIFE in the Report, Borrower Guarantor has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower Guarantor further represents and warrants that, except as previously disclosed to Bank METLIFE in writing, to the best of its knowledge as of the date hereofhereof after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower Guarantor shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at BorrowerGuarantor's expense. In the event that Bank METLIFE at any time has a reasonable belief believes that the Property is not free of all hazardous waste or materials or that Borrower Guarantor has violated any applicable environmental law with respect to the Property, then immediately, immediately upon request by BankMETLIFE, Borrower Guarantor shall obtain and furnish to BankMETLIFE, at BorrowerGuarantor's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankMETLIFE. In the event that Borrower Guarantor fails to immediately obtain such audit or inspection, Bank METLIFE or its agents may perform or obtain such audit or inspection at BorrowerGuarantor's sole cost and expense. Bank METLIFE may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower Guarantor has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower Guarantor shall reimburse Bank METLIFE as provided in Section 23 below for ---------- the full amount of all costs and expenses incurred by Bank METLIFE prior to Bank METLIFE acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank METLIFE in the position of an owner of the Property prior to any acquisition of the Property by BankMETLIFE. The rights granted to Bank METLIFE herein and in the other Loan Documents are granted solely for the protection of BankMETLIFE's lien and security interest covering the Property, and do not grant to Bank METLIFE the right to control BorrowerGuarantor's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Promissory Note (Graphic Industries Inc)

Hazardous Waste. Borrower has furnished to Bank Lender a the Bank's Phase I Environmental Risk Site Assessment Questionnaire dated May 2September 9, 20032002, prepared by Borrower Environmental Resources Management (the "Report"). Except as disclosed to Bank Lender in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Lender in writingthe Report, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent propertyProperty, or incorporated in any Improvements, at Borrower's expense. In Except as disclosed to Lender in the Report, in the event that Bank Lender at any time has a reasonable belief believes that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by BankLender, Borrower shall obtain and furnish to BankLender, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankLender. In the event that Borrower fails to immediately obtain such audit or inspection, Bank Lender or its agents (i) may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank , and (ii) may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Lender as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank Lender prior to Bank Lender acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank Lender in the position of an owner of the Property prior to any acquisition of the Property by BankLender. The rights granted to Bank Lender herein and in the other Loan Documents are granted solely for the protection of BankLender's lien and security interest covering the Property, and do not grant to Bank Lender the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Commercial Deed of Trust (Charming Shoppes Inc)

Hazardous Waste. Borrower has furnished to Bank Lender a the Bank's Phase I Environmental Risk Assessment Questionnaire dated May 2December 22, 20031998, prepared by Borrower AAS Environmental, Inc. and an Environmental Questionnaire dated January 12, 1999 (collectively, the "Report"). Except as disclosed to Bank Lender in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Lender in writing, to the best of its knowledge as of the date hereofhereof after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state state, or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvementsimprovements, at Borrower's expense. In the event that Bank Lender at any time has a reasonable belief believes that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, immediately upon request by BankLender, Borrower shall obtain and furnish to BankLender, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankLender. In the event that Borrower fails to immediately obtain such audit or inspection, Bank Lender or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank Lender may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Lender as provided in Section SECTION 23 below for the full amount of all costs and expenses incurred by Bank Lender prior to Bank Lender acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank Lender in the position of an owner of the Property prior to any acquisition of the Property by BankLender. The rights granted to Bank Lender herein and in the other Loan Documents are granted solely for the protection of BankLender's lien and security interest covering the Property, and do not grant to Bank the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.the

Appears in 1 contract

Samples: Mortgage, Security Agreement, and Assignment of Leases and Rents (Michael Anthony Jewelers Inc)

Hazardous Waste. Lender has obtained and Borrower has furnished to Bank reviewed a the Bank's Phase I Environmental Risk Site Assessment Questionnaire dated May 2date October 26, 20032007, prepared by Borrower Eras Environmental, Inc. (the "Report"). Except as disclosed to Bank Lender in the ReportReport or otherwise previously disclosed to Lender, Borrower has received no notification and has no actual knowledge of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Lender in writing, to the best of its actual knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any and Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials, except for reasonable quantities of ordinary office supplies, cleaning supplies, insecticides, pesticides, and paint used in the normal operation and maintenance of the Property and any other substances or materials used by borrower or tenants of the Property in the design or manufacture of process control metrology systems, provided that the same are used, stored, handled, and disposed of in accordance with applicable laws (“Permitted Substances”). As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic materialmaterials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or and ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's ’s expense. In the event that Bank Lender at any time has a reasonable belief reason to believe that the Property is not free of all hazardous waste or materials other than Permitted Substances or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by BankLender, Borrower shall obtain promptly order, diligently pursue obtaining and furnish to BankLender, at Borrower's ’s sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankLender. In the event that Borrower fails to immediately obtain such audit or inspection, Bank Lender or its agents may perform or obtain such audit or inspection at Borrower's ’s sole cost and expense. Bank Lender may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Lender as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank Lender prior to Bank Lender acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosureforeclosure or such earlier time as Lender obtains control of the Property, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank Lender in the position of an owner of the Property prior to any acquisition of the Property by BankLender. The rights granted to Bank Lender herein and in the other Loan Documents are granted solely for the protection of Bank's Lender’s lien and security interest covering the Property, and do not grant to Bank Lender the right to control Borrower's ’s actions, decisions or policies regarding hazardous waste or materials. In the event that nay portion of the property is determined to be “environmentally impaired” (as “environmentally impaired” is defined in California Code of Civil Procedure Section 726.5(e)(3)) or to be an “affected parcel” (as “affected parcel” is defined in California Code of Civil Procedure Section 726.5(e)(1)), then, without otherwise limiting or in any way affecting Lender’s or Trustee’s rights and remedies under this Instrument upon the occurrence and during the continuance of an Event of Default, Lender may elect to exercise its right under California Code of Civil Procedure Section 726.5(a) to (1) waive it lien on such environmentally impaired or affected parcel portion of the Property and (2) exercise (i) the rights and remedies of an unsecured creditor, including reduction of its claim against Borrower to judgment, and (ii) any other rights and remedies permitted by law. For purposes of determining Lender’s right to proceed as an unsecured creditor under California Code of Civil Procedure Section 726.5(a), Borrower shall be deemed to have a willfully permitted or acquiesced in a release or threatened release of hazardous materials, within the meaning of California Code of Civil Procedure Section 726.5(d)(1), if the release or threatened release of hazardous materials was knowingly or negligently cause or contributed to by any lessee, occupant or user which caused or contributed to the release or threatened release. All costs and expenses, including, but not limited to, attorneys’ and paralegals’ fees and costs and court costs incurred by Lender in connection with any action commenced under this Section 22, including any action required by California Code of Civil Procedure Section 726.5(b) to determine the degree to which the Property is environmentally impaired, plus interest thereon at the Default Rate specified in the note, provided that such interest rate shall not exceed the maximum interest rate permitted by law, until paid, shall be added to the Indebtedness secured by this Instrument and shall be due and payable to Lender upon its demand made at any time following the conclusion of such action.

Appears in 1 contract

Samples: Security Agreement

Hazardous Waste. Borrower has furnished to Bank METLIFE a the Bank's Phase I Environmental Risk Assessment dated January 16, 1996, as supplemented by that Phase II Environmental Assessment dated May 21, 1996 and those certain letters to Xx. Xxxxxxx X. Greenway dated May 23, 1996 and May 30, 1996 and prepared by Xxxxxxx Environmental Consultants, that certain Phase II Environmental Assessment dated March 1, 1996 and prepared by Missaukee Surveying & Engineering, Inc. and an Environmental Questionnaire dated May 220, 20031996 (collectively, prepared by Borrower (the "Report"). Except as disclosed to Bank METLIFE in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank METLIFE in writing, to the best of its knowledge as of the date hereofhereof after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments Judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank METLIFE at any time has a reasonable belief believes that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, immediately upon request by BankMETLIEE, Borrower shall obtain and furnish to BankMETLIFE, at Borrower's Borrowers sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankMETLIFE. In the event that Borrower fails to immediately obtain such audit or inspection, Bank METLIFE or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank METLIFE may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank METLIFE as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank METLIFE prior to Bank METLIFE acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank METLIFE in the position of an owner of the Property prior to any acquisition of the Property by BankMETLIFE. The rights granted to Bank METLIFE herein and in the other Loan Documents are granted solely for the protection of BankMETLIFE's lien and security interest covering the Property, and do not grant to Bank METLIFE the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Secom General Corp)

Hazardous Waste. Borrower has furnished to Bank METLIFE a the Bank's Phase I --------------- Environmental Risk Assessment Questionnaire dated May 2December 13, 20031996, prepared by Borrower Environmental Technology Resources, Inc. (the "Engineer"), and an Environmental Questionnaire dated December 17, 1996 (collectively, the "Report"). Except as disclosed to Bank METLIFE in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank METLIFE in writing, to the best of its knowledge as of the date hereofhereof after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank METLIFE at any time has a reasonable belief believes that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, immediately upon request by BankMETLIFE, Borrower shall obtain and furnish to BankMETLIFE, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankMETLIFE. In the event that Borrower fails to immediately obtain such audit or inspection, Bank METLIFE or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank METLIFE may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank METLIFE as provided in Section 23 below for the full amount of all costs and expenses ---------- incurred by Bank METLIFE prior to Bank METLIFE acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank METLIFE in the position of an owner of the Property prior to any acquisition of the Property by BankMETLIFE. The rights granted to Bank METLIFE herein and in the other Loan Documents are granted solely for the protection of BankMETLIFE's lien and security interest covering the Property, and do not grant to Bank METLIFE the right to control BorrowerXxxxxxxx's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Promissory Note (Graphic Industries Inc)

Hazardous Waste. Lender has obtained and Borrower has furnished to Bank reviewed a the Bank's Phase I Environmental Risk Site Assessment Questionnaire dated May 2September 16, 20032005, prepared by Borrower SECOR International Incorporated (the "Report"). Except as disclosed to Bank xx Xxnder in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Lender in writing, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials, except for reasonable quantities of ordinary office supplies, cleaning supplies, insecticides, pesticides, and paint used in the normal operation and maintenance of the Property, provided that the same are used, stored, handled, and disposed of in accordance with applicable laws ("Permitted Substances"). As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank Lender at any time has a reasonable belief reason to believe that the Property is not free of all hazardous waste or materials other than Permitted Substances or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by BankLender, Borrower shall obtain promptly order, diligently pursue obtaining and furnish to BankLender, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankLender. In the event that Borrower fails to immediately obtain such audit or inspection, Bank Lender or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank Lender may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Lender as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank Lender prior to Bank Lender acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank Lender in the position of an owner of the Property prior to any acquisition of the Property by BankLender. The rights granted to Bank Lender herein and in the other Loan Documents are granted solely for the protection of BankLender's lien and security interest covering the Property, and do not grant to Bank Lender the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Commercial Deed of Trust, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Western Express Holdings, Inc.)

Hazardous Waste. Mortgagee has obtained, and Borrower has furnished to Bank reviewed, a the Bank's Phase I Environmental Risk Site Assessment Questionnaire dated May 2January 20, 20032005, prepared by Borrower Xxxxxxx Group Services, Inc. (the "Report"). Except as disclosed to Bank Mortgagee in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Mortgagee in writing, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution distribution, or disposal facility for hazardous waste or materials, except for reasonable quantities of ordinary office supplies, cleaning supplies insecticides, pesticides, and paint used in the normal operation and maintenance of the Real Property, provided that the same are used, stored, handled, and disposed of in accordance with applicable laws (“Permitted Substances”). As used herein, the term "hazardous waste or materials" includes any an substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substancesubstances, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutesstatues, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having have jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's ’s expense. In the event that Bank Mortgagee at any time has a reasonable belief reason to believe that the Property is not free of all hazardous waste or materials other than Permitted Substances or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, immediately upon request by BankMortgagee, Borrower shall obtain promptly order, diligently pursue obtaining and furnish to Bankthe Mortgagee, at Borrower's ’s sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankMortgagee. In the event that Borrower fails to immediately obtain such audit or inspection, Bank Mortgagee or its agents may perform or obtain such audit or inspection at Borrower's ’s sole cost and expense. Bank Mortgagee may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Mortgagee as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank Mortgagee prior to Bank Mortgagee acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank in the position of an owner of the Property prior to any acquisition of the Property by BankMortgagee. The rights granted to Bank Mortgagee herein and in the other Loan Documents are granted solely for the protection of Bank's Mortgagee’s lien and security interest covering the Property, and do not grant to Bank Mortgagee the right to control Borrower's ’s actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Featherlite Inc)

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Hazardous Waste. Borrower has furnished to Bank a the Bank's Environmental Risk Assessment Questionnaire dated May 2, 2003, prepared by Borrower (the "Report"). Except as disclosed to Bank in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank in writing, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's ’s expense. In the event that Bank at any time has a reasonable belief that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by Bank, Borrower shall obtain and furnish to Bank, at Borrower's ’s sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to Bank. In the event that Borrower fails to immediately obtain such audit or inspection, Bank or its agents may perform or obtain such audit or inspection at Borrower's ’s sole cost and expense. Bank may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank prior to Bank acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank in the position of an owner of the Property prior to any acquisition of the Property by Bank. The rights granted to Bank herein and in the other Loan Documents are granted solely for the protection of Bank's ’s lien and security interest covering the Property, and do not grant to Bank the right to control Borrower's ’s actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Professional Veterinary Products LTD /Ne/)

Hazardous Waste. Borrower has furnished to Bank METLIFE a the Bank's Phase I Environmental Risk Site Assessment Updated Site Investigation dated March 1998, prepared by Kroll Environmental Enterprises, Inc., and an Environmental Questionnaire dated May 210, 20031998 (collectively, prepared by Borrower (the "Report"). Except as disclosed to Bank METLIFE in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank METLIFE in writing, to the best of its knowledge as of the date hereofhereof after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank METLIFE at any time has a reasonable belief believes that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by BankMETLIFE, Borrower shall obtain and furnish to BankMETLIFE, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankMETLIFE. In the event that Borrower fails to immediately obtain such audit or inspection, Bank METLIFE or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank METLIFE may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank METLIFE as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank METLIFE prior to Bank METLIFE acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank METLIFE in the position of an owner of the Property prior to any acquisition of the Property by BankMETLIFE. The rights granted to Bank METLIFE herein and in the other Loan Documents are granted solely for the protection of BankMETLIFE's lien and security interest covering the Property, and do not grant to Bank METLIFE the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Commercial Deed of Trust (Nations Flooring Inc)

Hazardous Waste. Borrower has furnished to Bank METLIFE a the Bank's Phase I Environmental Risk Assessment Questionnaire dated May 2October 9, 20031995, prepared by Borrower Terra Nova, and an Environmental Questionnaire dated September 8, 1995 (collectively, the "Report"). Except as disclosed to Bank METLIFE in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank METLIFE in writing, to the best of its knowledge as of the date hereofhereof after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank at Borrower agrees to notify METLIFE immediately if Borrower becomes aware of (a) any time has a reasonable belief that the Property is not free of all hazardous waste material environmental problem or materials or that Borrower has violated any applicable environmental law liability with respect to the Property or any Other Property, then immediatelyor (b) any lien, upon request by Bankaction or notice resulting from violation of any of the Applicable Laws. In either such event, at its own cost, Borrower shall will (i) obtain and furnish to BankMETLIFE, at BorrowerMETLIFE's sole cost and expenserequest, an environmental audit and inspection of the Property or survey from an expert satisfactory to BankMETLIFE with respect to the Property and (ii) proceed in a timely manner to take all actions which are necessary or desirable to comply with Applicable Laws, affecting the Property including removal, containment or any other remedial action required by Applicable Laws. Following the completion of any such actions, Borrower shall proceed in a timely manner to restore the Property to its former state of productive use. In the event that Borrower fails to immediately obtain such audit or inspection, Bank METLIFE or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank METLIFE may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank METLIFE as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank METLIFE prior to Bank METLIFE acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither Borrower agrees that it will not under any circumstances assert that either this provision nor Instrument or any of the other Loan Documents shall operate to put Bank METLIFE in the position of an owner of the Property prior to any acquisition of the Property by BankMETLIFE. The rights granted to Bank METLIFE herein and in the other Loan Documents are granted solely for the protection of BankMETLIFE's lien and security interest covering the Property, and do not grant to Bank METLIFE the right to control Borrower's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Mortgage Security Agreement (Jevic Transportation Inc)

Hazardous Waste. Borrower has furnished represents, warrants, and covenants to Bank a Bank: (a) To Borrower's best knowledge, its operations currently comply and in the Bank's Environmental Risk Assessment Questionnaire dated May 2future will comply with all applicable federal, 2003state, prepared by Borrower and local environmental, health, and safety statutes and regulations (the "ReportRequirements of Law"). Except as disclosed to Bank in the Report; (b) To Borrower's best knowledge, Borrower has received no notification obtained and in the future will obtain all environmental health and safety permits necessary for its operation, all such permits are in good standing, and the operations of any kind suggesting that Borrower comply with the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; terms and Borrower further represents and warrants that, except conditions of such permits; (c) Except as previously otherwise disclosed to Bank in writing, to the best of its knowledge as knowledge, no part of any real property in which Borrower now or hereafter acquires beneficial interest in including the date hereofground water located thereon, there are no is presently contaminated by any hazardous waste substances or materials located inhazardous waste. For purposes of this instrument, on or under the Property or terms "hazardous substances" and "hazardous waste" shall mean and include any adjacent propertyhazardous, toxic, or incorporated in any Improvementsdangerous waste, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or material within the meaning of the Federal Comprehensive Environmental Response, Compensation and Liability Act, or any other similar term, by any federal, state or local statute, regulation law, ordinance, code, rule, regulation, order, or ordinance decree regulating, relating to, or imposing liability or standards of conduct concerning any hazardous, toxic, or dangerous waste, substance or materials, as now or at anytime hereafter may be in effect. ; (d) Until the Notes are paid in full, all hazardous substances or hazardous waste (as defined above) which may be used by any Person for any purpose upon Borrower's property shall be used or stored thereon only in a safe, approved manner, in accordance with all industrial standards and all laws, regulations, and requirements for such storage (e) Borrower shall promptly comply notify Bank as soon as it knows or suspects that hazardous substances or hazardous waste have been released on its property. In such event, Bank may require that all violations of law with respect thereto be corrected and that all statutesnecessary governmental permits be obtained, regulations and ordinancesall at Borrower's sole expense; (f) Borrower agrees to indemnify, defend, and with hold Bank and its directors, officers, employees, agents and any successor or successors to Bank's interest in property of any Borrower harmless from and against any and all orderslosses, decrees claims, damages, penalties, liabilities, response costs and expenses (including all out-of-pocket litigation costs and the reasonable fees and expenses of counsel) (i) arising out of the inaccuracy, breach, or judgments incompleteness of any representation, warranty, or covenant made by Borrower in this Section 5.8 or in any document, in writing, delivered concurrently herewith, or (ii) arising out of any claim or lawsuit brought or threatened, settlement reached, or governmental authorities or courts having jurisdictionorder, relating to the use, collection, treatmentpresence, disposal, storagerelease, control, removal or cleanup threatened release of any hazardous substance or hazardous waste upon the property of Borrower or materials in(iii) arising out of any violation of any applicable statute or regulation for the protection of the environment which occurs upon the property of Borrower, on provided that, to the extent Bank is strictly liable under any statute or under the Property or any adjacent propertyregulation, or incorporated in any Improvements, at Borrower's expense. In obligations hereunder shall likewise be without regard to fault on the event that Bank at any time has a reasonable belief that the Property is not free part of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by Bank, Borrower shall obtain and furnish to Bank, at Borrower's sole cost and expense, an environmental audit and inspection violation of the Property from an expert satisfactory law which results in liability to Bank. In The indemnification obligation described in this subsection (f) shall continue and survive the event that Borrower fails to immediately obtain such audit or inspection, Bank or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge satisfaction of the existence Notes and any termination or expiration of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank prior to Bank acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank in the position of an owner of the Property prior to any acquisition of the Property by Bank. The rights granted to Bank herein and in the other Loan Documents are granted solely for the protection of Bank's lien and security interest covering the Property, and do not grant to Bank the right to control Borrower's actions, decisions or policies regarding hazardous waste or materialsAgreement.

Appears in 1 contract

Samples: Loan Agreement (Transcrypt International Inc)

Hazardous Waste. Borrower has furnished to Bank Xxxx a the Bank's Environmental Risk Assessment Questionnaire ___________ dated May 2, 2003_____________, prepared by Borrower ___________________ (the "Report"). Except as disclosed to Bank Xxxx in the Report, Borrower has received no notification of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except as previously disclosed to Bank Xxxx in writing, to the best of its knowledge as of the date hereof, after due and diligent inquiry, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, regulation or ordinance now or hereafter in effect. Borrower shall promptly comply with all statutes, regulations and ordinances, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, on or under the Property or any adjacent property, or incorporated in any Improvements, at Borrower's expense. In the event that Bank Xxxx at any time has a reasonable belief that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by BankXxxx, Borrower shall obtain obtain, as soon as possible (but in no event later than 15 days) following such request, and furnish to BankXxxx, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to BankXxxx. In the event that Borrower fails to immediately so obtain such audit or inspection, Bank Xxxx or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank Xxxx may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank Xxxx as provided in Section SECTION 23 below for the full amount of all costs and expenses incurred by Bank Xxxx prior to Bank Xxxx acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosure, in connection with such compliance activities. Neither this provision nor any of the other Loan Documents shall operate to put Bank Xxxx in the position of an owner of the Property prior to any acquisition of the Property by BankXxxx. The rights granted to Bank Xxxx herein and in the other Loan Documents are granted solely for the protection of Bank's lien Xxxx'x xxxx and security interest covering the Property, Property and do not grant to Bank Xxxx the right to control BorrowerXxxxxxxx's actions, decisions or policies regarding hazardous waste or materials.

Appears in 1 contract

Samples: Commercial Mortgage (Horizon Group Properties Inc)

Hazardous Waste. Borrower has furnished to Bank a Tenant agrees that the Bank's Environmental Risk Assessment Questionnaire dated May 2, 2003, prepared by Borrower (Premises shall not be used for --------------- the "Report"). Except as disclosed to Bank in the Report, Borrower has received no notification discharge or storage of any kind suggesting that the Property or any adjacent property is or may be contaminated with any hazardous waste or materials or is or may be required to be cleaned up in accordance with any applicable law or regulation; and Borrower further represents and warrants that, except Hazardous Substance as previously disclosed to Bank in writing, to the best of its knowledge as of the date hereof, there are no hazardous waste or materials located in, on or under the Property or any adjacent property, or incorporated in any Improvements, nor has the Property or any adjacent property ever been used as a landfill or a waste disposal site, or a manufacturing, handling, storage, distribution or disposal facility for hazardous waste or materials. As used herein, the term "hazardous waste or materials" includes any substance or material defined in or designated as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local statute, rule, regulation or ordinance now ordinance. Tenant agrees to indemnify Landlord and hold Landlord harmless from and against any and all losses, liabilities, including strict liability, damages, injuries, expenses, including reasonable attorneys' fees, paralegals' fees and legal assistants' fees, costs of any settlement or hereafter judgment in effect. Borrower shall promptly comply claims of any and every kind, whatsoever paid, incurred or suffered by, or served against Landlord by any person or entity or governmental agency for, with all statutesrespect to, regulations and ordinancesor as a direct or indirect result of, and with all orders, decrees or judgments of governmental authorities or courts having jurisdiction, relating to the use, collection, treatment, disposal, storage, control, removal or cleanup of hazardous waste or materials in, presence on or under the Property or any adjacent propertyunder, or incorporated in any Improvementsthe escape, at Borrower's expense. In seepage, leakage, spillage, discharge, emission or release from the event that Bank at any time has a reasonable belief that the Property is not free of all hazardous waste or materials or that Borrower has violated any applicable environmental law with respect to the Property, then immediately, upon request by Bank, Borrower shall obtain and furnish to Bank, at Borrower's sole cost and expense, an environmental audit and inspection of the Property from an expert satisfactory to Bank. In the event that Borrower fails to immediately obtain such audit or inspection, Bank or its agents may perform or obtain such audit or inspection at Borrower's sole cost and expense. Bank may, but is not obligated to, enter upon the Property and take such actions and incur such costs and expenses to effect such compliance as it deems advisable to protect its interest in the Property; and whether or not Borrower has actual knowledge of the existence of hazardous waste or materials on the Property or any adjacent property as of the date hereof, Borrower shall reimburse Bank as provided in Section 23 below for the full amount of all costs and expenses incurred by Bank prior to Bank acquiring title to the Property through foreclosure or acceptance of a deed in lieu of foreclosurePremises, in connection with Tenant's operations thereon, of any Hazardous Substance, including any such compliance activitiesloss or liability arising under the Comprehensive Environmental Response, Compensation and Liability Act, and any similar federal, state or local laws or ordinances. Neither If Tenant receives any notice of: (i) the happening of any material event involving the escape, seepage, leakage, spillage, discharge, emission, release or clean up of any Hazardous Substance on the Premises in connection with Tenant's operations thereon, or (ii) any complaint, order, citation, or material notice with regard to air emission, water discharge or any other environmental health or safety matter affecting Tenant (an "environmental complaint") from any person or entity, Tenant shall immediately notify Landlord orally and in writing of said notice. Any breach of any warranty or representation contained in this provision nor paragraph shall be an event of default under the Lease, which, if not cured within thirty (30) days of notice thereof, shall entitle Landlord to exercise any and all remedies provided in the Lease or otherwise provided by law; provided, however, Landlord agrees that if the remedy or such default cannot be reasonably achieved within said thirty (30) day period, then Tenant shall have such further time as is reasonable under the circumstances to effect such remedy provided that Tenant shall notify Landlord within the thirty (30) day curative period of the other Loan Documents necessity for additional time and provided further that Tenant shall operate institute immediate steps to put Bank in the position of an owner of the Property prior effect such remedy and shall continuously and diligently pursue such remedy to any acquisition of the Property by Bank. The rights granted to Bank herein and in the other Loan Documents are granted solely for the protection of Bank's lien and security interest covering the Property, and do not grant to Bank the right to control Borrower's actions, decisions or policies regarding hazardous waste or materialscompletion.

Appears in 1 contract

Samples: Lease (Speedcom Wireless Corp)

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