No Environmental Issue Sample Clauses
The "No Environmental Issue" clause serves to affirm that, to the best of the party's knowledge, there are no existing or pending environmental problems affecting the property or subject matter of the agreement. In practice, this means the party makes a representation that the property is free from contamination, hazardous substances, or violations of environmental laws, and that there are no ongoing investigations or remediation orders. This clause is crucial for allocating risk and providing assurance to the other party that they are not inheriting undisclosed environmental liabilities.
No Environmental Issue. All uses and operations on or of the REO Properties are not in violation of any environmental laws and in compliance with permits issued pursuant thereto and the REO Property is free and clear of all Liens and other encumbrances that may be imposed as a result of any violation of an environmental law, whether due to any act or omission of Underlying Entity or any other person or entity.
No Environmental Issue. All uses and operations on or of the REO Properties are free of Environmental Issues and in compliance with permits issued pursuant thereto and the REO Properties are free and clear of all Liens and other encumbrances that may be imposed as a result of any Environmental Issue, whether due to any act or omission of REO Subsidiary or any other person or entity. Any of the persons whose signatures and titles appear below are authorized, acting singly, to act for Seller Parties under this Agreement: Authorized Representatives for execution of Program Agreements and amendments Authorized Representatives for execution of Transaction Requests and day-to-day operational functions