Common use of Preparation of Environmental Reports Clause in Contracts

Preparation of Environmental Reports. At any time during the continuance of an Event of Default, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenders, at the expense of the Borrower, an environmental site assessment report for any of its Real Properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings hereby grants and agrees to cause any Subsidiary that maintains an interest in any Real Property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At the request of the Required Lenders from time to time, but no more than one time for any time property during the continuance term of an Event this Agreement (unless (i) a Default shall have occurred and be continuing, during which time no limitation shall apply or (ii) the Administrative Agent has a reasonable belief that Holdings or any of Default, its Subsidiaries is in material violation of Environmental Law or there has been a material Release of Hazardous Materials at a facility) provide to the Lenders within 60 sixty (60) days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the BorrowerBorrowers, an a written environmental site assessment report for any of its Real Properties properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the BorrowerBorrowers, and Holdings each Borrower hereby grants and agrees to cause any Subsidiary of its Subsidiaries that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, during normal business hours to enter onto their respective properties to undertake such an assessment. Any Each Borrower agrees to cooperate in connection with the preparation of such assessment shall be conducted during normal business hours Environmental Report, including without limitation, providing all reasonably requested information and making knowledgeable officers, employees or property managers available for interview at reasonable times and locations in a manner reasonably designed to mitigate any material interference with that does not materially hinder the ongoing normal operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediaParties.

Preparation of Environmental Reports. At (a) If a Default caused by reason of a breach of Section 3.09 or Section 5.16 shall have occurred and be continuing for more than 20 days without any time during Loan Party commencing activities reasonably likely to cure such Default, at the continuance written request of an Event of Defaultthe Lenders through the Administrative Agent, provide to the Lenders within 60 90 days after reasonable request from such request, at the expense of the Borrower, an environmental site assessment report regarding the matters which are the subject of such Default prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the Required Lendersestimated cost of any compliance or remedial action in connection with such Default. (b) If any Event of Default shall have occurred, at the written request of the Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of the Borrower, an environmental site assessment report for any of its Real Properties described in such request, Estate Collateral Property (whether owned or leased) prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating Agent regarding the presence or absence of Hazardous Materials at such property property, the extent of any Environmental Liabilities associated with such Loan Party’s operations thereon, and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal compliance or remedial actions action in connection with therewith. (c) If any such Hazardous Materials on such Real Property; without limiting Loan Party has not promptly commenced preparation for completion of an environmental report duly requested by the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred Lenders pursuant to abovethis Section 5.24, the Administrative Agent may retain an may, after prior notice to the Borrower and at the Borrower’s expense, engage a qualified environmental consulting firm consultant to prepare such report at the expense of the Borrower, and Holdings hereby grants and agrees to cause any Subsidiary that maintains an interest in any Real Property described in such request to grant at the time of such request to reports. The Loan Parties shall provide the Administrative Agent, its consultant or other designated representative, with reasonable access to its Real Estate, records and personnel for the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject purpose of completing all necessary investigations related to preparation of the reasonable rights requested environmental reports (the scope of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment which shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference consistent with the ongoing operations of the Loan Party’s business. The Loan Parties may require thatthen current ASTM Phase I standard practice, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and but which shall not include the taking of any samples of soil, groundwater, surface water, air or building materials samples or other environmental mediainvasive testing unless the Borrower has provided its prior written consent, which consent shall not be unreasonably withheld; provided, that such testing is reasonably related to information set forth in the Phase I report or reasonably related to the specific Event of Default that has occurred and is continuing).

Preparation of Environmental Reports. At any time during the continuance of an Event of Default, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenders, at the expense of the BorrowerBorrowers, an environmental site assessment report for any of its Real Properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the BorrowerBorrowers, and Holdings hereby grants and agrees to cause any Restricted Subsidiary that maintains an interest in any Real Property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At any time after the Debt Assumption Date, at the written request of the Required Lenders from time to time, but no more than one time for any owned Material Real Estate Asset or other owned real property subject to a Mortgage (any such real property, an “Assessment Property”) (unless a Default shall have occurred and be continuing, during the continuance of an Event of Default, which time no such limitation shall apply) provide to the Lenders within 60 90 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an a written environmental site assessment report for any of its Real Properties such real properties described in such request, prepared by an environmental consulting firm and in form and substance reasonably acceptable to the Administrative AgentAgent (which acceptance shall not be unreasonably withheld or delayed), indicating reasonably investigating the presence or absence of Hazardous Materials at such property and the estimated reasonable cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyreal properties to the extent required by Environmental Law (the “Cost Estimate”); without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided to the Lenders within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings the Borrower hereby grants and agrees to cause any Restricted Subsidiary that maintains an interest in owns any Real Property real property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective real properties to undertake such an assessment at reasonable times and with reasonable advance notice; provided that the Administrative Agent shall request the environmental consulting firm to carry levels of insurance, if any, as may be customary for the performance of such assessment. Any such assessment In determining the Cost Estimate, the Borrower’s or the Administrative Agent’s environmental consulting firm shall reasonably take into account the existing use of the Assessment Property and the potential use of institutional controls to address the Hazardous Materials on the Assessment Property and the availability of risk-based approaches to address any Hazardous Materials on the Assessment Property. No Phase II or other invasive environmental report shall be conducted during normal business hours required by this Section or undertaken pursuant to this Section unless an Event of Default shall have occurred and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials be continuing at the Real Property any such assessment shall be limited to time that the Required Lenders have made a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediawritten request thereof.

Preparation of Environmental Reports. At any time during the continuance of an Event of Default, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenders, at the expense of the BorrowerBorrowers, an environmental site assessment report for any of its Real Properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the BorrowerBorrowers, and Holdings hereby grants and agrees to cause any Subsidiary that maintains an interest in any Real Property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At To the extent the Borrower or any time during Loan Party has the continuance authority to conduct such assessments without obtaining required consent from any other Person, at the reasonable request of an Event of Defaultthe Administrative Agents, provide to the Lenders within 60 90 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site assessment assessment, soil or groundwater report for any of the properties subject to a Mortgage in the event that (a) any Loan Parties or any of their Subsidiaries receive notice of any Environmental Action relating to any such properties, or any such properties become subject to any Environmental Liability, that individually or in the aggregate could reasonably be expected to result in the Borrower or any of its Real Properties described in Restricted Subsidiaries having or becoming subject to liability or liabilities exceeding $50,000,000 or (b) if a Default has occurred and is continuing. With respect to any such requestproperties that require consent from any other person prior to conducting such assessment, the Borrower shall use reasonable efforts to obtain such consent and, if such consent is obtained, will conduct the environmental assessment. If such consent is not granted, the Borrower shall not be required to conduct such assessment. Any environmental site assessment report prepared pursuant to this Section 6.15 shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating Agent and shall indicate the presence or absence of Hazardous Materials at such affecting any subject property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without action required under Environmental Laws. Without limiting the generality of the foregoing, if the Administrative Agent reasonably determines Agents determine at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent Agents may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings and, to the extent the Borrower has the right to grant such authorization or to cause such Subsidiary to grant such authorization, the Borrower hereby grants and agrees to cause any such Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative AgentAgents, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At To the extent the Borrower or any time during Loan Party has the continuance authority to conduct such assessments without obtaining required consent from any other Person, at the request of an Event of Defaultthe Administrative Agents, provide to the Lenders within 60 90 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site assessment assessment, soil or groundwater report for any of the properties subject to a Mortgage in the event that (a) any Loan Parties or any of their Subsidiaries receive notice of any Environmental Action relating to any such properties, or any such properties become subject to any Environmental Liability, that individually or in the aggregate could reasonably be expected to result in the Borrower or any of its Real Properties described in Restricted Subsidiaries having or becoming subject to liability or liabilities exceeding $50,000,000 or (b) if a Default has occurred and is continuing. With respect to any such requestproperties that require consent from any other person prior to conducting such assessment, the Borrower shall use reasonable efforts to obtain such consent and, if such consent is obtained, will conduct the environmental assessment. If such consent is not granted, the Borrower shall not be required to conduct such assessment. Any environmental site assessment report prepared pursuant to this Section 6.15 shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating Agent and shall indicate the presence or absence of Hazardous Materials at such affecting any subject property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without action required under Environmental Laws. Without limiting the generality of the foregoing, if the Administrative Agent reasonably determines Agents determine at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent Agents may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings and, to the extent the Borrower has the right to grant such authorization or to cause such Subsidiary to grant such authorization, the Borrower hereby grants and agrees to cause any such Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative AgentAgents, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At To the extent Borrower or any time during Loan Party has the continuance authority to conduct such assessments without obtaining required consent from any other Person, at the request of an Event of Defaultthe Administrative Agents or Required Lenders, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site assessment assessment, soil or groundwater report for any of its Real Properties the properties described in the Mortgages or for any properties not described in the Mortgages, if, with respect to such requestproperties not described in the Mortgages, any Loan Parties or any of their Subsidiaries receive notice of any Environmental Action relating to any such properties not described in the Mortgages, or the Required Lenders determine that any properties not described in the Mortgages are, or are likely to become, subject to any Environmental Liability. With respect to any properties not described in the Mortgages that require consent from any other person prior to conducting such assessment, Borrower shall use reasonable efforts to obtain such consent and, if such consent is obtained, will conduct the environmental assessment. If such consent is not granted, Borrower shall not be required to conduct such assessment. Any environmental site assessment report prepared pursuant to this Section 6.14 shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating Agent and shall indicate the presence or 104 absence of Hazardous Materials at such affecting any subject property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without action required under Environmental Laws. Without limiting the generality of the foregoing, if the Administrative Agent reasonably determines Agents determine at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent Agents may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings and, to the extent the Borrower has the right to grant such authorization or to cause such Subsidiary to grant such authorization, the Borrower hereby grants and agrees to cause any such Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative AgentAgents, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At any the request of the Required Lenders from time to time (i) upon the occurrence and during the continuance of an Event of a Default, provide (ii) in the case of the Parent Borrower's or any of its Subsidiaries' acquisition of real property that could be reasonably likely to result in a Material Adverse Effect, and (iii) at any time when any Lender believes after reasonable inquiry that a condition or event exists or has occurred on any real property owned or operated by the Parent Borrower or any of its Subsidiaries that could be reasonably likely to result in a Material Adverse Effect, provide, or cause such Subsidiary to provide, to the Lenders Agents and the Lender Parties within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the BorrowerParent Borrower or such Subsidiary, an environmental site assessment report for any of its Real Properties or its Subsidiaries' properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative AgentRequired Lenders, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines Required Lenders determine at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to aboveabove and the Required Lenders will be materially prejudiced by any such delay, the Administrative Agent Required Lenders may retain an environmental consulting firm to prepare such report at the expense of the Parent Borrower, and Holdings the Parent Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative AgentAgents, the LendersLender Parties, such firm and any agents or representatives thereof an irrevocable non-exclusive licensethereof, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, access to enter onto their respective properties to undertake such an assessment. Any ; PROVIDED, HOWEVER, that no such assessment Persons shall unreasonably interfere with the operations conducted at such property and the Parent Borrower shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, given at least 2 Business Days' notice prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediaundertaking.

Preparation of Environmental Reports. At the written request of the Required Lenders from time to time, but no more than one time for any owned Material Real Estate Asset or other owned real property subject to a Mortgage (any such real property, an “Assessment Property”) (unless a Default shall have occurred and be continuing, during which time during the continuance of an Event of Default, no such limitation shall apply) provide to the Lenders within 60 90 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an a written environmental site assessment report for any of its Real Properties such real properties described in such request, prepared by an environmental consulting firm and in form and substance reasonably acceptable to the Administrative AgentAgent (which acceptance shall not be unreasonably withheld or delayed), indicating reasonably investigating the presence or absence of Hazardous Materials at such property and the estimated reasonable cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyreal properties to the extent required by Environmental Law (the “Cost Estimate”); without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided to the Lenders within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings the Borrower hereby grants and agrees to cause any Restricted Subsidiary that maintains an interest in owns any Real Property real property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective real properties to undertake such an assessment at reasonable times and with reasonable advance notice; provided that the Administrative Agent shall request the environmental consulting firm to carry levels of insurance, if any, as may be customary for the performance of such assessment. Any such assessment In determining the Cost Estimate, the Borrower’s or the Administrative Agent’s environmental consulting firm shall reasonably take into account the existing use of the Assessment Property and the potential use of institutional controls to address the Hazardous Materials on the Assessment Property and the availability of risk-based approaches to address any Hazardous Materials on the Assessment Property. No Phase II or other invasive environmental report shall be conducted during normal business hours required by this Section or undertaken pursuant to this Section unless an Event of Default shall have occurred and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials be continuing at the Real Property any such assessment shall be limited to time that the Required Lenders have made a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediawritten request thereof.

Preparation of Environmental Reports. At (a) If an Event of Default occurs under Section 5.09 or Section 6.13 following notice thereof to the Borrower without Borrower undertaking diligent efforts to correct it, or if the Administrative Agent at any time during the continuance term of an Event this Agreement reasonably believes that there exists a violation of Defaultapplicable Environmental Laws by the Borrower or any Environmental Liability, in each case which could reasonably be expected to materially impair the value, use or transferability of any Mortgaged Property or otherwise would reasonably be expected to result in a Material Adverse Effect, then the Borrower shall, at the reasonable request of the Administrative Agent, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site audit and/or assessment report for any of its Real Properties described in properties or facilities which is the subject of any such requestEvent of Default, violation or Environmental Liability (an “Environmental Audit”). An Environmental Audit may include, where appropriate, soil, air, surface water and groundwater sampling and testing. The Environmental Audit shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent. The Environmental Audit will, indicating as relevant, indicate the presence or absence of any such violation, and/or the presence, absence, Release or threat of Release of Hazardous Materials at such property and shall include the estimated cost of any compliance, includingremoval, if applicable, the estimated costs of legally remedial or other action required removal or remedial actions in connection with under any applicable Environmental Law to correct any such Hazardous Materials on Event of Default, or violation, and/or to address any such Real Property; without limiting the generality of the foregoing, if Environmental Liability. (b) Promptly notify the Administrative Agent reasonably determines at any time following 30 days of or, as soon as practicable after its initial request that a material risk exists that any such report will not be provided within the time referred receipt thereof, deliver to above, the Administrative Agent may retain an copies of any and all material written communications and material documents concerning: (i) any non-compliance with Environmental Laws or Environmental Permits by the Borrower or any of its Restricted Subsidiaries that would, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (ii) (A) any occurrence or discovery of any Release or threatened Release required to be reported to any Governmental Authority under applicable Environmental Law that would be reasonably expected to have a Material Adverse Effect, or (B) any remedial actions taken by the Borrower or any of its Restricted Subsidiaries in respect of any such Release or threatened Release. (c) Promptly notify the Administrative Agent of or, as soon as practically after receipt thereof, deliver to the Administrative Agent copies of any Phase I or Phase II Environmental Site Assessment or environmental consulting firm to prepare such report at the expense compliance audit conducted by or on behalf of the BorrowerBorrower for any real property owned, and Holdings hereby grants and agrees to cause leased or operated by the Borrower or any Subsidiary of its Restricted Subsidiaries, in each case that maintains an interest in any Real Property described in such request to grant at are conducted after the time of such request Amendment Effective Date or were not previously provided to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At the reasonable request of the Required Lenders from time to time upon a violation by any time during Loan Party or any of its Subsidiaries of Environmental Law, or the continuance occurrence or discovery (including, without limitation, from a report delivered pursuant to Section 5.01(j)(vi)) of an Event any other fact, circumstance, event, act or condition that could result in the liability of Defaultany Loan Party or any of its Subsidiaries under Environmental Law, that, individually or in the aggregate, would be reasonably likely to have a Material Adverse Effect, provide to the Lenders Lender Parties within 60 90 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site assessment report for any of its Real Properties or its Subsidiaries' properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative AgentRequired Lenders, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal compliance or remedial actions Remedial Action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will is not be provided within the time referred to above, the Administrative Agent Required Lenders may retain an environmental consulting firm reasonably acceptable to Borrower to prepare such report at the expense of the Borrower, and Holdings the Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative AgentAgents, the LendersLender Parties, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal reasonable business hours and in a manner reasonably designed (after giving reasonable prior notice to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediaBorrower).

Preparation of Environmental Reports. At any the request of the Administrative Agent or Required Lenders from time to time (i) upon the occurrence and during the continuance of an Event of a Default, provide (ii) in the case of the Parent Borrower's or any of its Subsidiaries' acquisition of real property that could be reasonably likely to result in a Material Adverse Effect, and (iii) at any time when the Administrative Agent or any Lender believes after reasonable inquiry that a condition or event exists or has occurred on any real property owned or operated by the Parent Borrower or any of its Subsidiaries that could be reasonably likely to result in a Material Adverse Effect, provide, or cause such Subsidiary to provide, to the Lenders Agents and the Lender Parties within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the BorrowerParent Borrower or such Subsidiary, an environmental site assessment report for any of its Real Properties or its Subsidiaries' properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines or Required Lenders determine at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to aboveabove and the Administrative Agent or Required Lenders will be materially prejudiced by any such delay, the Administrative Agent or Required Lenders, as the case may be, may retain an environmental consulting firm to prepare such report at the expense of the Parent Borrower, and Holdings the Parent Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative AgentAgents, the LendersLender Parties, such firm and any agents or representatives thereof an irrevocable non-exclusive licensethereof, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, access to enter onto their respective properties to undertake such an assessment. Any ; PROVIDED, HOWEVER, that no such assessment Persons shall unreasonably interfere with the operations conducted at such property and the Parent Borrower shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, given at least 2 Business Days' notice prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediaundertaking.

Preparation of Environmental Reports. At the written request of the Required Lenders from time to time on any date that is on or after the Mortgage Trigger Event, but no more than one time for any real property owned, leased or operated by any Loan Party or its Subsidiaries during the continuance term of this Agreement (any such real property, an Event of Default“Assessment Property”) (unless a Default shall have occurred and be continuing, during which time no such limitation shall apply) provide to the Lenders within 60 90 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an a written environmental site assessment report for any of its Real Properties such real properties described in such request, prepared by an environmental consulting firm and in form and substance reasonably acceptable to the Administrative AgentAgent (which acceptance shall not be unreasonably withheld or delayed), indicating reasonably investigating the presence or absence of Hazardous Materials at such property and the estimated reasonable cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyreal properties to the extent required by Environmental Law (the “Cost Estimate”); without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided to the Lenders within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and Holdings the Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property real property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective real properties to undertake such an assessment at reasonable times and with reasonable advance notice; provided that the Administrative Agent shall request the environmental consulting firm to carry levels of insurance, if any, as may be customary for the performance of such assessment. Any such assessment In determining the Cost Estimate, the Borrower’s or the Administrative Agent’s environmental consulting firm shall reasonably take into account the existing use of the Assessment Property and the potential use of institutional controls to address the Hazardous Materials on the Assessment Property and the availability of risk-based approaches to address any Hazardous Materials on the Assessment Property. No Phase II or other invasive environmental report shall be conducted during normal business hours required by this Section or undertaken pursuant to this Section unless an Event of Default shall have occurred and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials be continuing at the Real Property any such assessment shall be limited to time that the Required Lenders have made a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediawritten request thereof.

Preparation of Environmental Reports. At the reasonable request of Agent, or any Co-Lender, from time during the continuance of an Event of Defaultto time, Borrower shall provide to the Lenders Agent, within 60 30 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an Environmental Report for all Hospitality Properties owned, leased or managed by Borrower or its Subsidiaries that have been acquired after the date hereof, or with respect to the Hospitality Properties owned, leased or managed by Borrower or its Subsidiaries owned, leased or managed as of the date hereof, or any Hospitality Property owned, leased or managed by Borrower or its Subsidiaries for which Agent has a reasonable basis for requiring such an Environmental Report (including, without limitation, the fact that an environmental site assessment report for any was not delivered at or prior to the Closing Date or there is a basis to believe that there may be Hazardous Substances or Hazardous Waste or a threat of a Release with respect to such Hospitality Property owned, leased or managed by Borrower or its Real Properties Subsidiaries) as described in such request, prepared request (the foregoing requirement shall apply to Hospitality Properties leased or managed by an environmental consulting firm reasonably acceptable Borrower or its Subsidiaries only to the Administrative Agent, indicating extent that an Environmental Report is in the presence possession of Borrower and/or its Subsidiaries and not subject to any confidentiality obligation or absence of Hazardous Materials at such property Environmental Report is available and not subject to any confidentiality obligation pursuant to the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without applicable Permitted Property Agreement). Without limiting the generality of the foregoing, if Agent or the Administrative Agent reasonably determines Majority Co-Lenders determine at any time following 30 days after its initial request that a material risk exists that any such report Environmental Report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report Environmental Report at the expense of the Borrower, and Holdings Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in Loan Party which owns any Real Hospitality Property owned, leased or managed by Borrower or its Subsidiaries described in such request to grant at the time of such request request, to the Administrative Agent, the Lenders, such firm and any agents or of representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties Hospitality Properties owned, leased or managed by Borrower or its Subsidiaries to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At the request of the Administrative Agent, reasonably promptly after the Administrative Agent shall have obtained knowledge of any time during circumstances that has the continuance reasonable likelihood of an Event the Parent Borrower or any of Defaultthe Subsidiaries incurring any Environmental Liability that could reasonably be expected to result in a Default or a Material Adverse Effect as a result of any information provided under Section 6.02(f) or in or Section 6.03(a) or (b) hereunder or through other publicly available information filed with the SEC, the Borrowers shall provide to the Lenders within 60 days after reasonable such request from (or such later date as the Administrative Agent or the Required Lendersmay agree in its sole discretion), at the expense of the BorrowerBorrowers, an environmental site assessment report of a scope that is reasonable under the circumstances for any of its Real Properties properties described in such requestrequest that are the subject matter associated with such Default or Material Adverse Effect, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating indicating, if relevant to such matter, the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the BorrowerBorrowers, and Holdings each Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property property described in such request to grant reasonable access at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessmentassessment subject to government approvals, if such approvals are required. Any The Borrowers shall take all reasonable steps to obtain any such assessment shall required government approvals. Each Loan Party will, and will cause each of its Subsidiaries to keep any property either owned or operated by any Loan Party or its Subsidiaries free of any Environmental Liens or post bonds or other financial assurances sufficient to satisfy the obligations or liability evidenced by such Environmental Liens, in each case, except as could not reasonably be conducted during normal business hours and expected to result in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediaMaterial Adverse Effect.

Preparation of Environmental Reports. At (a) If an Event of Default occurs under Section 5.09 or Section 6.13 following notice thereof to the Borrower without Borrower undertaking diligent efforts to correct it, or if the Administrative Agent at any time during the continuance term of an Event this Agreement reasonably believes that there exists a violation of Defaultapplicable Environmental Laws by the Borrower or any Environmental Liability, in each case which could reasonably be expected to materially impair the value, use or transferability of any Mortgaged Property or otherwise would reasonably be expected to result in a Material Adverse Effect, then the Borrower shall, at the reasonable request of the Administrative Agent, provide to the Lenders within 60 sixty (60) days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site audit and/or assessment report for any of its Real Properties described in properties or facilities which is the subject of any such requestEvent of Default, violation or Environmental Liability (an “Environmental Audit”). An Environmental Audit may include, where appropriate, soil, air, surface water and groundwater sampling and testing. The Environmental Audit shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent. The Environmental Audit will, indicating as relevant, indicate the presence or absence of any such violation, and/or the presence, absence, Release or threat of Release of Hazardous Materials at such property and shall include the estimated cost of any compliance, includingremoval, if applicable, the estimated costs of legally remedial or other action required removal or remedial actions in connection with under any applicable Environmental Law to correct any such Hazardous Materials on Event of Default, or violation, and/or to address any such Real Property; without limiting the generality of the foregoing, if Environmental Liability. (b) Promptly notify the Administrative Agent reasonably determines at any time following 30 days of or, as soon as practicable after its initial request that a material risk exists that any such report will not be provided within the time referred receipt thereof, deliver to above, the Administrative Agent may retain an copies of any and all material written communications and material documents concerning: (i) any non-compliance with Environmental Laws or Environmental Permits by the Borrower or any of its Restricted Subsidiaries that would, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (ii) (A) any occurrence or discovery of any Release or threatened Release required to be reported to any Governmental Authority under applicable Environmental Law that would be reasonably expected to have a Material Adverse Effect, or (B) any remedial actions taken by the Borrower or any of its Restricted Subsidiaries in respect of any such Release or threatened Release. (c) Promptly notify the Administrative Agent of or, as soon as practically after receipt thereof, deliver to the Administrative Agent copies of any Phase I or Phase II Environmental Site Assessment or environmental consulting firm to prepare such report at the expense compliance audit conducted by or on behalf of the BorrowerBorrower for any real property owned, and Holdings hereby grants and agrees to cause leased or operated by the Borrower or any Subsidiary of its Restricted Subsidiaries, in each case that maintains an interest in any Real Property described in such request to grant at are conducted after the time of such request Amendment Effective Date or were not previously provided to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At the request of the ------------------------------------ Administrative Agent from time to time but in any time event not more than once in any two-year period for any real property or any leasehold interest in real property of any of the Borrowers or any of their respective Subsidiaries following: (i) the acquisition or proposed acquisition of such real property interest (whether fee or leasehold); (ii) the occurrence of any event or circumstance that causes the Administrative Agent or any of the Lenders to reasonably believe that Hazardous Materials may be present on such real property in any manner or quantity that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect; or (iii) the occurrence and during the continuance of an Event of Default, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the BorrowerBorrowers, an environmental site assessment report for each of the real properties of any of its Real Properties the Borrowers or any of their respective Subsidiaries described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Property; without real properties. Without limiting the generality of the foregoingimmediately preceding sentence, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain retain, upon at least five Business Days' prior written notice to the Borrowers, an environmental consulting firm to prepare such report at the reasonable expense of the BorrowerBorrowers, and Holdings each of the Borrowers hereby grants grants, and agrees to cause each of its Subsidiaries that owns any Subsidiary that maintains an interest in any Real Property of the real property described in such request to grant grant, at the time of such request request, to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive nonexclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties any such real property to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At the request of the Agent, or any Lender, from time during to time, the continuance of an Event of Default, Company shall provide to the Lenders Agent, within 60 30 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the BorrowerCompany and the REIT, an Environmental Report for all Real Property Assets that have been acquired after the date hereof, or with respect to the Real Property Assets owned as of the date hereof, any Real Property Asset for which the Agent has a reasonable basis for requiring such an Environmental Report (including, without limitation, the fact that an environmental site assessment report for any was not delivered at or prior to the Closing Date or there is a basis to believe that there may be Hazardous Materials or a threat of its a Release with respect to such Real Properties Property Asset) as described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without . Without limiting the generality of the foregoing, if the Administrative Agent reasonably determines or the Required Lenders determine at any time following 30 days after its initial request that a material risk exists that any such report Environmental Report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report Environmental Report at the expense of the BorrowerCompany and the REIT, and Holdings the Company hereby grants and agrees to cause any Subsidiary that maintains an interest in Guarantor which owns any Real Property Asset described in such request to grant at the time of such request request, to the Administrative Agent, the Lenders, such firm and any agents or of representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties Real Property Assets to undertake such an assessment. Any such assessment shall be conducted Notwithstanding the foregoing, during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations term of the Loan Party’s business. The Loan Parties may require thatExisting Credit Agreement, prior the Agent shall not retain an environmental consulting firm to entry onto the Real Property, any prepare an Environmental Report if such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there step has been a material Release of Hazardous Materials at undertaken under the Existing Credit Agreement for such Real Property any Asset, provided, however, that in the event the agent under the Existing Credit Agreement is a financial institution other than the Agent hereunder, the Company shall, upon the Agent's request, provide written evidence that an environmental consulting firm has been retained for such assessment shall be limited Real Property Asset by the agent under the Existing Credit Agreement; provided further that if the Company is not able to provide a visual inspection copy of the property and shall not include requested Environmental Report within 30 days after the taking date of such request by the Agent, the Agent may take any samples of soil, groundwater, surface water, building materials or other environmental mediasteps permitted under this subsection (x) to obtain such Environmental Report.

Preparation of Environmental Reports. At any time during the continuance of If an Event of DefaultDefault is continuing (as provided in Section 8.01(c)) relating to Section 5.09 or Section 6.12, or if the Administrative Agent at any time reasonably believes that there exist violations of Environmental Laws by any Loan Party or any of its Subsidiaries or that there exist any Environmental Liabilities or Environmental Claims, in each case which could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, then the following procedure shall be implemented: (a) the Administrative Agent shall notify the Loan Parties that it intends to seek an environmental audit and/or assessment report meeting the description in subsection (c) below, and shall consult with the Loan Parties on the facts and circumstances giving rise to the intent; (b) the Loan Parties shall have ten (10) Business Days to provide a response to and otherwise consult with the Administrative Agent and the Required Lenders; (c) if, after the consultation described in subsections (a) and (b) above, the Administrative Agent and the Required Lenders believe it necessary, the Loan Parties shall, at the request of the Required Lenders, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site audit and/or assessment report for with respect to any such Event of its Real Properties described in such requestDefault, violation, Environmental Liability, and/or Environmental Claim (“Environmental Audit”). An Environmental Audit may include, where reasonably appropriate, soil, air, surface water and groundwater sampling and testing. The Environmental Audit shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent. The Environmental Audit will, indicating as relevant, indicate the presence or absence of any such violation, and/or the presence, absence, Release or threat of Release of Hazardous Materials at such property and shall include the estimated cost of any compliance, includingremoval, if applicable, the estimated costs of legally remedial or other action required removal or remedial actions in connection with to correct any such Hazardous Materials on Event of Default, or violation, and/or to address any such Real Property; Environmental Liability and/or Environmental Claim; (d) without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such audit and/or report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such audit and/or report at the expense of the Borrower, and Holdings the Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property real property or facility described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained other Persons with interests in the applicable leasesreal property or facility, to enter onto their respective properties or facilities to undertake such an audit and/or assessment. Any such assessment shall be conducted during normal business hours ; and (e) without limiting any term or provision of Section 10.07, in implementing the above described procedures, the Administrative Agent and in a manner reasonably designed Required Lenders will undertake steps deemed reasonable by them under the circumstances to mitigate any material interference with the ongoing operations of accommodate specific requests by the Loan Party’s business. The Parties to maintain as confidential information concerning litigation or regulatory compliance strategy provided to them by the Loan Parties may require that, prior pursuant to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediathis Section.

Preparation of Environmental Reports. At Holdings and Borrower shall, or shall cause the applicable Loan Party to, promptly deliver a Phase I environmental assessment report with respect to any Material Real Property acquired after the Restatement Date from an environmental consulting firm reasonably acceptable to the Administrative Agent. In addition, if the Administrative Agent reasonably determines that a material risk exists with respect to any Material Real Property as a result of a release of any Hazardous Materials with respect to any existing Material Real Property, then, at the request of the Required Lenders from time during the continuance of an Event of Defaultto time, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of Holdings and the Borrower, an environmental site assessment report for any of its Material Real Properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of Holdings and the Borrower, and Holdings and the Borrower hereby grants grant and agrees agree to cause any Subsidiary that maintains an interest in owns any Real Property property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At (a) If an Event of Default occurs under Section 5.09 or Section 6.13 following notice thereof to the Borrower without Borrower undertaking diligent efforts to correct it, or if the Administrative Agent at any time during the continuance term of an Event this Agreement reasonably believes that there exists a violation of Defaultapplicable Environmental Laws by the Borrower or any Environmental Liability, in each case which could reasonably be expected to materially impair the value, use or transferability of any Mortgaged Property or otherwise could reasonably be expected to result in a Material Adverse Effect, then the Borrower shall, at the reasonable request of the Administrative Agent, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenderssuch request, at the expense of the Borrower, an environmental site audit and/or assessment report for any of its Real Properties described in properties or facilities which is the subject of any such requestEvent of Default, violation or Environmental Liability (an “Environmental Audit”). An Environmental Audit may include, where appropriate, soil, air, surface water and groundwater sampling and testing. The Environmental Audit shall be prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent. The Environmental Audit will, indicating as relevant, indicate the presence or absence of any such violation, and/or the presence, absence, Release or threat of Release of Hazardous Materials at such property and shall include the estimated cost of any compliance, includingremoval, if applicable, the estimated costs of legally remedial or other action required removal or remedial actions in connection with under any applicable Environmental Law to correct any such Hazardous Materials on Event of Default, or violation, and/or to address any such Real Property; without limiting the generality of the foregoing, if Environmental Liability. (b) Promptly notify the Administrative Agent reasonably determines at any time following 30 days of or, as soon as practicable after its initial request that a material risk exists that any such report will not be provided within the time referred receipt thereof, deliver to above, the Administrative Agent may retain an copies of any and all material written communications and material documents concerning: (i) any non-compliance with Environmental Laws or Environmental Permits by the Borrower or any of its Subsidiaries that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (ii) (A) any occurrence or discovery of any Release or threatened Release required to be reported to any Governmental Authority under applicable Environmental Law that could reasonably expected to have a Material Adverse Effect, or (B) any remedial actions taken by the Borrower or any of its Subsidiaries in respect of any such Release or threatened Release. (c) Promptly notify the Administrative Agent of or, as soon as practically after receipt thereof, deliver to the Administrative Agent copies of any Phase I or Phase II Environmental Site Assessment or environmental consulting firm to prepare such report at the expense compliance audit conducted by or on behalf of the BorrowerBorrower for any real property owned, and Holdings hereby grants and agrees to cause leased or operated by the Borrower or any Subsidiary of its Subsidiaries, in each case that maintains an interest in any Real Property described in such request to grant at are conducted after the time of such request Original Effective Date or were not previously provided to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.

Preparation of Environmental Reports. At the request of the Administrative Agent, reasonably promptly after the Administrative Agent shall have obtained knowledge of any time during circumstances that has the continuance reasonable likelihood of an Event the Parent Borrower or any of Defaultthe Subsidiaries incurring any Environmental Liability that could reasonably be expected to result in a Default or a Material Adverse Effect as a result of any information provided under Section 6.02(f) or in or Section 6.03(a) or (b) hereunder or through other publicly available information filed with the SEC, the Borrowers shall provide to the Lenders within 60 days after reasonable such request from (or such later date as the Administrative Agent or the Required Lendersmay agree in its sole discretion), at the expense of the BorrowerBorrowers, an environmental site assessment report of a scope that is reasonable under the circumstances for any of its Real Properties properties described in such requestrequest that are the subject matter associated with such Default or Material Adverse Effect, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating indicating, if relevant to such matter, the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions action in connection with any such Hazardous Materials on such Real Propertyproperties; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the BorrowerBorrowers, and Holdings each Borrower hereby grants and agrees to cause any Subsidiary that maintains an interest in owns any Real Property property described in such request to grant reasonable access at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leasestenants, to enter onto their respective properties to undertake such an assessmentassessment subject to government approvals, if such approvals are required. Any The Borrowers shall take all reasonable steps to obtain any such assessment shall required government approvals. Each Loan Party will, and will cause each of its Subsidiaries to keep any property either owned or operated by any Loan Party or its Subsidiaries free of any Environmental Liens or post bonds or other financial assurances sufficient to satisfy the obligations or liability evidenced by such Environmental Liens, in each case, except as could not reasonably be conducted during normal business hours and expected to result in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental mediaMaterial Adverse Effect).

Preparation of Environmental Reports. At any time during the continuance of an Event of Default, provide to the Lenders within 60 days after reasonable request from the Administrative Agent or the Required Lenders, at the expense of the BorrowerBorrowers, an environmental site assessment report for any of its Real Properties described in such request, prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent, indicating the presence or absence of Hazardous Materials at such property and the estimated cost of any compliance, including, if applicable, the estimated costs of legally required removal or remedial actions in connection with any such Hazardous Materials on such Real Property; without limiting the generality of the foregoing, if the Administrative Agent reasonably determines at any time following 30 days after its initial request that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the BorrowerBorrowers, and Holdings hereby grants and agrees to cause any Subsidiary that maintains an interest in any Real Property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, after reasonable advance notice subject to the reasonable rights of tenants or any limitation contained in applicable leases, to enter onto their respective properties to undertake such an assessment. Any such assessment shall be conducted during normal business hours and in a manner reasonably designed to mitigate any material interference with the ongoing operations of the Loan Party’s 's business. The Loan Parties may require that, prior to entry onto the Real Property, any such engineer or consultant shall present evidence of reasonable and customary insurance coverage, 91 including general liability and professional liability policies. Unless there exists a reasonable belief that there has been a material Release of Hazardous Materials at the Real Property any such assessment shall be limited to a visual inspection of the property and shall not include the taking of any samples of soil, groundwater, surface water, building materials or other environmental media.