Remedial Action Required. Without the other party’s prior written consent, which shall not be unreasonably withheld or delayed, a party shall not take any remedial action in response to the presence of any Hazardous Materials on, under, or about the Premises, nor enter into any settlement agreement, consent decree, or other compromise in response to any Hazardous Materials claim, which remedial action, settlement, consent or compromise might, in the other party’s reasonable judgment, impair the value of said party’s interest in the Premises; provided, however, that prior consent shall not be necessary in the event that: (a) (i) the presence of Hazardous Materials on, under, or about the Premises either poses an immediate threat or is of such a nature that an immediate remedial response is necessary, or (ii) any delay in taking such remedial action would result in the imposition of periodic or daily fines; and (iii) such action is required by government order; and (b) it is not possible to obtain the other party’s consent before taking such action; provided that in such event notice, shall be given as soon as practicable of any action so taken.
Appears in 4 contracts
Samples: Charter School Lease, Charter School Lease, Charter School Lease
Remedial Action Required. Without the other party’s prior written consent, which shall not be unreasonably withheld or delayed, a party shall not take any remedial action in response to the presence of any Hazardous Materials on, under, or about the Premises, nor enter into any settlement agreement, consent decree, or other compromise in response to any Hazardous Materials claim, which remedial action, settlement, consent or compromise might, in the other party’s reasonable judgment, impair the value of said party’s interest in the Premises; provided, however, that prior consent shall not be necessary in the event that: (a)
(i1) the presence of Hazardous Materials on, under, or about the Premises either poses an immediate threat or is of such a nature that an immediate remedial response is necessary, or (ii2) any delay in taking such remedial action would result in the imposition of periodic or daily fines; and (iii3) such action is required by government order; and (b) it is not possible to obtain the other party’s consent before taking such action; provided that in such event noticeevent, notice shall be given as soon as practicable of any action so taken.
Appears in 1 contract
Samples: Charter School Lease
Remedial Action Required. Without the other party’s prior written consent, which shall not be unreasonably withheld or delayed, a party shall not take any remedial action in response to the presence of any Hazardous Materials on, under, or about the Premises, nor enter into any settlement agreement, consent decree, or other compromise in response to any Hazardous Materials claim, which remedial action, settlement, consent or compromise might, in the other party’s reasonable judgment, impair the value of said party’s interest in the Premises; provided, however, that prior consent shall not be necessary in the event that: (a)
(i) the presence of Hazardous Materials on, under, or about the Premises either poses an immediate threat or is of such a nature that an immediate remedial response is necessary, or (ii) any delay in taking such remedial action would result in the imposition of periodic or daily fines; and (iii) such action is required by government order; and (b) it is not possible to obtain the other party’s consent before taking such action; provided that in such event notice, shall be given as soon as practicable of any action so taken.. 702
Appears in 1 contract
Samples: Charter School Lease Purchase