Industrial Site Recovery Act. (a) Tenant represents and warrants that it is not an “Industrial Establishment” as that term is defined in the Industrial Site Recovery Act, N.J.S.A. 13:1k-6 et seq., as same may be amended from time to time (the “Act”). Tenant shall not do or suffer anything that will cause it to become an Industrial Establishment under the Act during the Term of this Lease. Landlord may from time to time require Tenant at Tenant’s sole expense to provide proof satisfactory to Landlord that Tenant is not an Industrial Establishment. In the event that Tenant now is or hereafter becomes an Industrial Establishment, Tenant shall comply with all conditions as set forth below.
(b) Tenant agrees that it shall, at its sole cost and expense, fulfill, observe and comply with all of the terms and provisions of the Act and all rules, regulations, ordinances, opinions, orders and directives issued or promulgated pursuant to or in connection with said Act by the Department of Environmental Protection (“DEP”), or any subdivision or bureau thereof or any other governmental or quasi-governmental agency, authority or body having jurisdiction thereof. (The Act and all said rules, regulations, ordinances, opinions, orders and directives are hereinafter collectively referred to as “ISRA”).
(c) Nothing in this Section shall be construed as limiting Tenant’s obligation to otherwise comply with ISRA.
(d) Tenant agrees that each and every provision of this Section 8.02 shall survive the expiration or early termination of the Term of this Lease. The parties hereto expressly acknowledge and agree that the Landlord would not enter into this Lease but for the provisions of this Section 8.02 and the survival of these representations.
(e) Tenant represents and warrants that it is not, and will not become, an industrial establishment as the term is defined in the aforementioned statute and that from the date of the execution of this Lease forward Tenant will be bound by all of the provisions of Article 8.02(a), (b), (c) and (d).
Industrial Site Recovery Act. Seller shall comply in all respects at its sole expense with the New Jersey Industrial Site Recovery Act (“ISRA”) with respect to all real properties owned, leased or operated in New Jersey by Seller and/or any of its Selling Subsidiaries in connection with the transactions contemplated by this Agreement prior to the Closing Date or the Termination Date, to the extent applicable, including without limitation, preparing, filing and executing all required notices, forms and agreements with the New Jersey Department of Environmental Protection (“Seller’s ISRA Obligations”) and shall comply in all respects at its sole expense with any Environmental Laws applicable to any release of Hazardous Substances identified in Buyer’s Phase I Environmental Site Assessment of the Transferred Real Property located in Mahwah, New Jersey (“Seller’s Additional Environmental Obligations”); provided, however:
(a) Seller’s ISRA Obligations and Seller’s Additional Environmental Obligations shall be limited to meeting the Appropriate Remediation Standard. To the extent acceptable to Governmental Entities, the parties agree to utilize institutional controls and engineering controls (including, without limitation, capping, signs, fences and deed restrictions on the use of real property or groundwater) to meet the Appropriate Remediation Standard and to cooperate in obtaining all necessary approvals of the use of such controls.
(b) Seller’s ISRA Obligations and Seller’s Additional Environmental Obligations shall not include the investigation or remediation of any release of Hazardous Substances occurring on or after the Closing Date or to the extent such investigation or remediation results or arises from Buyer’s exacerbation of any release of Hazardous Substances which occurred prior to the Closing Date.
(c) After the Closing Date, Buyer shall provide Seller, and Seller’s consultants, contractors, agents and representatives with reasonable access to the Transferred Real Property in Mahwah, New Jersey, to allow Seller to complete Seller’s ISRA Obligations and Seller’s Additional Environmental Obligations at reasonable times and upon reasonable advance notice.
(d) After the Closing Date, Seller shall take reasonable precaution to minimize any interference with or disruption of Buyer’s operations at the Transferred Real Property in Mahwah, New Jersey caused by Seller’s ISRA Obligations and Seller’s Additional Environmental Obligations.
(e) Seller shall keep Buyer reasonably informed of...
Industrial Site Recovery Act. (a) Tenant represents and warrants that it is not an "Industrial Establishment" as that term is defined in the Industrial Site Recovery Act, formerly known as the Environmental Cleanup Responsibility Act, N.J.
Industrial Site Recovery Act. Seller, before the Closing Date, at its sole cost and expense, shall apply for and obtain from the New Jersey Department of Environmental Protection (“NJDEP”) a letter confirming that the industrial establishment, as that term is defined by the New Jersey Industrial Site Recovery Act, N.J. Stat. § 13:1K-6, et seq., and its associated regulations (“ISRA”) operated by Xxxxxx-CTI, Inc. at Whippany, NJ, is exempt from the substantive requirements of ISRA based on the de minimis quantity exemption criteria set forth at N.J. A.C. 7:26B-5.
Industrial Site Recovery Act. (a) The Seller shall, at its sole cost and expense, comply with all requirements of ISRA that are triggered by this Agreement or the transactions contemplated hereby (the “Seller’s ISRA Compliance”). Without limiting the generality of the foregoing, the Seller will undertake any and all actions necessary to obtain an entire site response action outcome under ISRA, including: (i) retaining the services of a “Licensed Site Remediation Professional” as defined in the Site Remediation Reform Act, N.J.S.A. Section 58:10C-1, et seq. (“LSRP”), (ii) obtaining and maintaining a remediation funding source, if necessary under ISRA, in the amount determined by the Seller’s LSRP in accordance with applicable requirements, (iii) having Seller identified pursuant to N.J.A.C. Section 7:26C-2.3 as the “Person Responsible for Conducting the Remediation” on any forms or other documents necessary to comply with ISRA, (iv) complying with related permitting and financial assurance requirements, if any, and (v) taking any other actions required to achieve Seller’s ISRA Compliance.
(b) The Seller will keep the Buyer informed of its progress in achieving the Seller’s ISRA Compliance by sending to the Buyer copies of all final submissions to NJDEP within five (5) business days of submission. The Seller shall take commercially reasonable steps to avoid any material interference or disruption of the Company’s operations during the performance of any work to achieve Seller’s ISRA Compliance.
(c) All consultants and contractors employed or engaged by the Seller in connection with Seller’s ISRA Compliance will be covered by workers’ compensation insurance in an amount as required by statute, general and automobile liability insurance with minimum limits of $1 million; and contractors and professional liability insurance with minimum limits of $5 million. All such policies, except for workers compensation and professional liability, shall name the Company as an additional insured. At the Buyer’s request, the Seller will cause such consultants or contractors to furnish certificates of insurance confirming that the required coverage is effective.
(d) Seller hereby agrees to indemnify and hold harmless the Buyer Indemnified Party from any and all claims, losses, injuries, liabilities, damages or expenses (including reasonable attorneys’ and consultants’ fees and costs), arising out of or in connection with:
(i) a violation by the Seller, LSRP or Seller’s other consultants or agents (if any)...
Industrial Site Recovery Act. (i) Tenant represents and warrants that Tenant’s NAICS Number as designated by the Executive Office of the President, Office of Management and Budget, and as set forth in this Lease, is correct. Tenant represents that the specific activities intended to be carried on in the Premises are in accordance with Article 1(j) and Tenant covenants and agrees that it will not do or suffer anything which will cause its NAICS Number (or that of any assignee or subtenant) to fall within any of the ISRA Subject NAICS Codes listed in Appendix C to the Regulations adopted pursuant to ISRA (subject to the specified exceptions and limitations) as same may be revised, modified, supplemented and/or amended from time to time during the Term (and any exercised renewal term) hereof (collectively, the “Covered Numbers” ). Tenant further covenants and agrees to notify Landlord at least thirty (30) days prior to any change of facts which would result in the change of Tenant’s NAICS number from its present number to any of the Covered Numbers. Upon such notice, Landlord shall have the right, at its option, to terminate this Lease within thirty (30) days of receipt of such notice by notifying Tenant in writing.
Industrial Site Recovery Act. (a) The Seller's Business has a Standard Industrial Classification Code of 3679, one of the codes subject to ISRA. The Seller and the Purchaser agree that the Seller is required to comply with the provisions of ISRA at both its Whippany and East Hanover facilities prior to Closing. The parties desire, and the Seller agrees, that the Seller's compliance obligations shall be satisfied by receipt from NJDEP of: (1) a "No Further Action Letter", or (2) an approved "Negative Declaration", or (3) an approved "Remedial Action Workplan", as such terms are defined at N.J.S.A. 13:1K-8, N.J.S.
Industrial Site Recovery Act. Letter of Nonapplicability. ------------------------------------------------------- Seller will make an application for a Letter of Non-applicability in compliance with the provisions of the Industrial Site Recovery Act ("ISRA") and shall furnish copies of said application to Buyer.
Industrial Site Recovery Act. A. As a condition precedent to Buyer's obligation to purchase the Property, Seller shall have received from the Industrial Site Element or its successor ("Element") of the NJDEP, on or before the Closing, a non-applicability letter considering all uses conducted on the Property, for which Seller shall apply pursuant to the Industrial Site Recovery Act. Seller represents that its Standard Industrial Classification Number (SIC Number) is 6512 If this condition precedent shall not have been satisfied on or before the ninetieth (90th) day following the date of this Agreement, Buyer shall have the right to void this Agreement on notice to Seller, in which event neither party shall be under any further obligation to the other, with the exception that the Deposit, together with interest, shall be promptly returned to the Buyer. Seller shall make application for the letter of non-applicability in accordance with the Industrial Site Recovery Act within thirty (30) days of the date of this Agreement and shall simultaneously provide to Buyer a copy of the application(s). In the event application for a non-applicability letter is inappropriate, Seller shall, within thirty (30) days after denial of its request for a letter of non-applicability, apply for a de minimis exception, negative declaration or letter of no further action. Buyer shall have the right to terminate the Agreement and receive the return of any and all monies paid in connection with this Agreement if a de minimis exception, a negative declaration or letter of no further action is not received within six (6) months of the execution of this Agreement.
B. Buyer shall, at Buyer's sole cost and expense, obtain a "Phase I Environmental Assessment" report with respect to the Premises within thirty (30) calendar days from the date of this Agreement. A copy of said report shall be provided to Seller within the aforesaid time period. In the event Buyer deems the Phase I to be unsatisfactory in any respect whatsoever, in its sole and non-reviewable judgment, Buyer may terminate this Agreement upon ten (10) days notice thereafter and Seller shall return the Deposit together with all interest thereon to Buyer.
Industrial Site Recovery Act. Applicability Affidavit, New Jersey Department of Env. Protection, dated 12/01/1997.
