Common use of No Contingent Liability Clause in Contracts

No Contingent Liability. The Company does not have any material contingent liabilities in connection with any release or threatened release of any hazardous substance or solid waste into the environment other than such contingent liabilities at any one time and from time to time which could reasonably be expected to exceed an aggregate of $500,000 in excess of applicable insurance coverage and for which adequate reserves for the payment thereof as required by GAAP have not been provided, or which could reasonably be expected to result in remedial obligations assuming disclosure to the applicable Governmental Authority of all relevant facts, conditions, and circumstances, if any, pertaining to such release or threatened release.

Appears in 1 contract

Samples: Securities Purchase Agreement (Sierra Well Service Inc)

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No Contingent Liability. The Company does not have any has no material contingent liabilities liability in connection with any release or threatened release of any hazardous substance or solid waste into the environment other than such contingent liabilities at any one time and from time to time which could reasonably be expected to exceed an aggregate of $500,000 250,000 in excess of applicable insurance coverage and for which adequate reserves for the payment thereof as required by GAAP have not been provided, or which could reasonably be expected to result in remedial obligations in excess of $250,000 individually or $500,000 in the aggregate assuming disclosure to the applicable Governmental Authority of all relevant facts, conditions, conditions and circumstances, if any, pertaining to such release or threatened release.

Appears in 1 contract

Samples: Credit Agreement (Puretec Corp)

No Contingent Liability. The Company does not and its Subsidiaries have any no material contingent liabilities liability in connection with any release or threatened release of any hazardous substance or solid waste into the environment other than such contingent liabilities at any one time and from time to time which could reasonably be expected to exceed an aggregate of $500,000 10,000,000 in excess of applicable insurance coverage and for which adequate reserves for the payment thereof as required by GAAP have not been provided, or which could reasonably be expected to result in remedial obligations having a Material Adverse Effect assuming disclosure to the applicable Governmental Authority of all relevant facts, conditions, conditions and circumstances, if any, pertaining to such release or threatened release.

Appears in 1 contract

Samples: Credit Agreement (Sterling Chemical Inc)

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No Contingent Liability. The Company does not and its Subsidiaries have any no ----------------------- material contingent liabilities liability in connection with any release or threatened release of any hazardous substance or solid waste into the environment other than such contingent liabilities which at any one time and from time to time which could would reasonably be expected to exceed an aggregate of by more than $500,000 in excess of 5,000,000 applicable insurance coverage and for which adequate coverage, indemnities, or the reserves for the payment thereof which have been established as required by GAAP have not been providedGAAP, or which could would reasonably be expected to result in remedial obligations having a Material Adverse Effect assuming disclosure to the applicable Governmental Authority of all relevant facts, conditions, conditions and circumstances, if any, pertaining to such release or threatened release.

Appears in 1 contract

Samples: Credit Agreement (Titan Exploration Inc)

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