Common use of Remedial Actions Clause in Contracts

Remedial Actions. If any Contamination is discovered on any Borrowing Base Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ sole expense, remove, treat, and dispose of the Hazardous Material, to background levels, in compliance with all applicable Environmental Requirements or if restoration to applicable background levels is not feasible, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayed, in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) and to discharge any assessments or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect to the applicable Borrowing Base Property or similar confirmation by the applicable regulator that all required remedial action as stated above has been taken and successfully completed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmation. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail to commence such remedial actions in accordance with the terms hereof and thereafter diligently prosecute the same to completion in accordance with the terms hereof (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination Hazardous Material is discovered on any Borrowing Base Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ Borrower’s sole expense, risk and expense remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements and solely under the applicable Loan Party’s name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedRequirement), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; , and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause subsection (i) preceding and to discharge any assessments or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After Within fifteen (15) days after completion of such remedial actions, the applicable each Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect to the applicable an Environmental Assessment of such Borrowing Base Property or similar confirmation by the applicable regulator made after such completion and confirming to Administrative Agent’s satisfaction that all required remedial action as stated above has been taken and successfully completed and that there is no evidence or suspicion of any contamination or risk of contamination on the Borrowing Base Property or any adjacent property, or of violation of any Environmental Requirement, with respect to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent any such confirmationHazardous Material. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any the Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination is discovered on any Borrowing Base Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ sole expense, remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements or if restoration to applicable background levels is not feasible, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayed, in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if reasonably requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) and to discharge any assessments or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect to the applicable Borrowing Base Property or similar confirmation by the applicable regulator that all required remedial action as stated above has been taken and successfully completed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmation. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail to commence such remedial actions in accordance with the terms hereof and thereafter diligently prosecute the same to completion in accordance with the terms hereof (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access subject to the rights of tenants to the Borrowing Base Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination Hazardous Material is discovered on any Borrowing Base Property at any time and regardless of the cause, (i) promptly which is in violation of any Environmental Law, promptly, Borrower shall or shall cause the applicable Loan Party to, at the applicable Loan Parties’ sole risk and expense, to the extent required by Environmental Laws, remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements Laws and solely under the applicable Loan Party’s name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Law, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedLaw), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documentscurrently conducted, and Borrower shall provide Administrative Agent with satisfactory evidence thereof; and . Within sixty (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (3060) days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) and to discharge any assessments or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After after completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect to an Environmental Assessment of the applicable Borrowing Base Property or similar confirmation by the applicable regulator made after such completion and confirming to Administrative Agent’s satisfaction that all required remedial action as stated above has been taken and successfully completed to the satisfaction and that there is no evidence or suspicion of any contamination or risk of contamination on the applicable regulatorBorrowing Base Property or any adjacent property, or of violation of any Environmental Law, with respect to any such Hazardous Material. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided During the Administrative Agent such confirmation. continuance of an Event of Default, Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental RequirementLaw, take or cause the taking of such other action as is required by any Environmental RequirementLaw) if the Loan Parties fail promptly to commence such remedial actions in accordance with the terms hereof as required above and thereafter diligently to prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereofof the continuance of an Event of Default); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties at any time or times, during the continuance of an Event of Default, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination Hazardous Material is discovered on any Borrowing Base Collateral Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ Borrowers' sole expense, risk and expense remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements and solely under the applicable Borrower's name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedRequirement), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Collateral Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; , and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s 's request a bond, letter of credit, or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s 's satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause subsection (i) preceding and to discharge any assessments or liens established against such Borrowing Base Collateral Property as a result of the presence of the Hazardous Material on the Borrowing Base Collateral Property. After Within fifteen (15) days after completion of such remedial actions, the applicable Loan Party Borrowers shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect an Environmental Assessment of such Collateral Property Credit Agreement 49 made after such completion and confirming to the applicable Borrowing Base Property or similar confirmation by the applicable regulator Administrative Agent's satisfaction that all required remedial action as stated above has been taken and successfully completed and that there is no evidence or suspicion of any contamination or risk of contamination on the Collateral Property or any adjacent property, or of violation of any Environmental Requirement, with respect to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent any such confirmationHazardous Material. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base the Collateral Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail Borrowers fails to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Collateral Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination is discovered on any Borrowing Base Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ sole expense, remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements or if restoration to applicable background levels is not feasible, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayed, in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if reasonably requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) and to discharge any assessments or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite obtain issuance of such approval if available and upon receipt thereof issued, deliver to Administrative Agent a letter indicating that no further action is required with respect to the applicable Borrowing Base Property or similar confirmation by the applicable regulator that all required remedial action as stated above has been taken and successfully completed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmation. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail to commence such remedial actions in accordance with the terms hereof and thereafter diligently prosecute the same to completion in accordance with the terms hereof (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access subject to the rights of tenants to the Borrowing Base Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If Without first notifying Lender in writing, Borrower shall not take any Contamination is discovered on remedial action in response to the presence of any Borrowing Base Hazardous Materials on, under, or about the Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ sole expense, remove, treat, and dispose of the Hazardous Material, to background levelsif, in compliance with all applicable Environmental Requirements or if restoration to applicable background levels is not feasibleLender's judgment, take whatever the remedial action is likely to impair the value of Lender's security under the Deed of Trust. In the case of a remedial action that, in Lender's judgement, is likely to impair the value of Lender's security under the Deed of Trust, Lender's prior consent shall be required but shall not be withheld if, upon the advice of professionals who are duly qualified and trained to make such judgments, there is no reasonable alternative to such remedial action which would result in less impairment of Lender's security under the Deed of Trust, but only if and to the extent that remediation is required to be performed by the Environmental Protection Agency or another governmental agency with jurisdiction over environmental matters relating to the Property. Lender shall reasonably cooperate with Borrower, at no cost or expense to Lender, in connection with any remedial action required by any Environmental Requirement applicable governmental authority. If Lender has possession of the Land, such cooperation shall include providing reasonable access to the Land so that Borrower may, without additional delay or cost, undertake and complete the remedial action and obtain confirmation of the same from the applicable governmental authority; provided, however, that any cleanup standard approved by Borrower's written request for such access shall specify the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, precise nature of the remedial action required and Borrower shall upon request provide such approval not to be unreasonably withheld or delayed, in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, funds or other financial assurance, including self-assurance, evidencing security or assurances as Lender reasonably deems appropriate to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) protect Lender from any cost or expense and to discharge any assessments protect the Land and Improvements from loss or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect to the applicable Borrowing Base Property or similar confirmation by the applicable regulator that all required remedial action as stated above has been taken and successfully completed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmation. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail to commence such remedial actions damage in accordance connection with the terms hereof and thereafter diligently prosecute the same to completion in accordance with the terms hereof (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other remedial action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination Hazardous Material (other than routine office, cleaning, janitorial and other materials and supplies necessary to operate, maintain, repair, improve and lease such Real Property, in each case in commercially reasonable quantities and used and stored in compliance with all Environmental Laws) is discovered on any Borrowing Base Property at any time and regardless of the cause, (i) promptly at the applicable Loan Parties’ sole expense, risk and expense remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements and solely under the applicable Loan Party’s name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedRequirement), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty fifteen (3015) days Business Days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) and to discharge any assessments or liens Liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After As soon as is reasonably practicable after completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect to an Environmental Assessment of the applicable Borrowing Base Property or similar confirmation by the applicable regulator made after such completion and confirming to Administrative Agent’s satisfaction that all required remedial action as stated above has been taken and successfully completed to the satisfaction and that there is no evidence or suspicion of any contamination or risk of contamination on the applicable regulator. The Loan Parties shall not be deemed Borrowing Base Property or any adjacent property, or of violation of any Environmental Requirement, with respect to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent any such confirmationHazardous Material. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination Hazardous Material in violation of Environmental Laws is discovered on any Borrowing Base the Property at any time and regardless of the cause, (i) Borrower shall promptly at the applicable Loan Parties’ Borrower's sole expense, risk and expense remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance with all applicable Environmental Requirements and solely under Borrower's name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedRequirement), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base the Property as contemplated by the Loan Documents, and provide Administrative Agent Lender with satisfactory evidence thereof; and (ii) if requested by Administrative AgentLender, provide to Administrative Agent Lender within thirty (30) days of Administrative Agent’s Lender's request a bond, letter of credit, credit or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s Lender's satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) preceding and to discharge any assessments or liens established against such Borrowing Base the Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After Within thirty (30) days after completion of such remedial actions, the applicable Loan Party Borrower shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect Lender an Environmental Assessment of the Property made after such completion and confirming to the applicable Borrowing Base Property or similar confirmation by the applicable regulator Lender's reasonable satisfaction that all required remedial action as stated above has been taken and successfully completed and that there is no evidence or suspicion of any contamination or risk of contamination on the Property or any adjacent property in excess of that permitted by applicable Environmental Laws, or of violation of any Environmental Requirement, with respect to the satisfaction of the applicable regulatorany such Hazardous Material. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmation. Administrative Agent on behalf of Lenders Lender may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base the Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail Borrower fails to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Lender (without limitation of the Lender's rights of Administrative Agent on behalf of Lenders to declare an Event a default under any of Default the Loan Documents and to exercise all rights and remedies available by reason thereof); and Administrative Agent Lender and its designees are hereby granted access to the Borrowing Base Properties Property at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If BioLine and Licensee will notify each other immediately, and promptly confirm such notice in writing, if it obtains information indicating that any Contamination Licensed Product may be subject to any recall, corrective action or other regulatory action taken by virtue of Applicable Laws (a “Remedial Action”). BioLine and Licensee will assist each other in gathering and evaluating such information as is discovered on any Borrowing Base Property at any time necessary to determine the necessity of conducting a Remedial Action. Licensee shall, and regardless shall ensure that its Affiliates and Sublicensees will, maintain adequate records to permit BioLine and Licensee to trace the packaging, labeling, distribution, sale, and use (to the extent possible) of the causeLicensed Product in the Territory. Licensee shall have sole discretion with respect to any matters relating to any Remedial Action in the Territory, (i) promptly including the decision to commence such Remedial Action and the control over such Remedial Action in its territory, at the applicable Loan Parties’ sole its cost and expense, remove, treat, and dispose of the Hazardous Material, to background levels, in compliance with all applicable Environmental Requirements or if restoration to applicable background levels is not feasible, take whatever action is required by any Environmental Requirement ; provided, however, if BioLine reasonably determines in good faith that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayed, in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, or other financial assurance, including self-assurance, evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) and to discharge any assessments or liens established against such Borrowing Base Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After completion of such remedial actions, the applicable Loan Party shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required Remedial Action with respect to any Licensed Product in the applicable Borrowing Base Property Territory must be commenced or similar confirmation by the applicable regulator that all required remedial action as stated above has been taken and successfully completed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmation. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental RequirementApplicable Laws or Regulatory Agency, (A) if the Loan Parties fail to commence BioLine shall discuss such remedial actions in accordance Remedial Action with the terms hereof Licensee and thereafter diligently prosecute the same to completion in accordance with the terms hereof (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event of Default and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties at any time or times, B) Licensee shall carry out such Remedial Action upon reasonable notice (which may be written or oral)BioLine’s request, and a license BioLine and Licensee shall share equally the cost of such Remedial Action (unless such Remedial Action is due: (1) solely to Licensee’s negligence, gross negligence, willful misconduct or violation of Applicable Laws, in which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who case Licensee shall be responsible forfor [***]% of the costs of such Remedial Action; or (2) solely to BioLine’s negligence, gross negligence, willful misconduct or violation of Applicable Laws, in which case BioLine shall be responsible for [***]% of the costs of such Remedial Action). Notwithstanding anything to the contrary in clause (B) above, if Licensee in good faith disagrees that such Remedial Action should be commenced or is required by Applicable Laws or Regulatory Agency, such Remedial Action shall be conducted at BioLine’s cost; provided that, if a Regulatory Agency later determines that such Remedial Action is required, Licensee shall reimburse BioLine such costs, up to Licensee’s applicable share of the costs for such Remedial Action (i.e., up to [***]%, [***]%, or [***]%). BioLine and Licensee shall sign any required manifests forprovide each other, offsite disposalat the other Party’s expense, with such assistance in connection with a Remedial Action as may be reasonably requested by such other Party.

Remedial Actions. If any Contamination Hazardous Material is discovered on any Borrowing Base Property a Project in the Collateral Pool at any time and regardless of the cause, (i) promptly Borrower, at the applicable Loan Parties’ Borrower's sole risk and expense, remove, treat, and dispose of of, or cause the Project Owner to remove, treat or dispose of, the Hazardous Material, to background levels, Material in compliance in all material respects with all applicable Environmental Requirements and solely under Borrower's or the Project Owner's name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedRequirement), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base Property the Project as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if requested by Administrative Agent, Borrower shall, or shall cause the Project Owner to, provide to Administrative Agent within thirty (30) days of Administrative Agent’s 's request a bond, letter of credit, credit or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s 's reasonable satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) preceding and to discharge any assessments or liens established against such Borrowing Base Property the Project as a result of the presence of the Hazardous Material on the Borrowing Base PropertyProject. After Within fifteen (15) days after completion of such remedial actions, the applicable Loan Party Borrower shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect an Environmental Assessment of the Project made after such completion and confirming to the applicable Borrowing Base Property or similar confirmation by the applicable regulator Administrative Agent's satisfaction that all required remedial action as stated above has been taken and successfully completed and that Administrative Agent's environmental consultant shall have concurred with the conclusions set forth in such Environmental Assessment and confirmed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmationthat adequate measures have been taken by Borrower or Project Owner to eliminate any credible risk of further (or a recurrence of such) contamination on the Project or any adjacent property. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base Property the Project (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail Borrower or Project Owner fails to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event a default under any of Default the Loan Documents and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties Project at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If any Contamination Hazardous Material is discovered on any Borrowing Base of the Property at any time and regardless of the cause, (i) Borrower shall promptly at the applicable Loan Parties’ Borrower's sole expense, risk and expense remove, treat, and dispose of the Hazardous Material, to background levels, Material in compliance in all material respects with all applicable Environmental Requirements and solely under Borrower's name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement provided, however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayedRequirement), in addition to taking such other action as is necessary to have the full use and benefit of such Borrowing Base the Property as contemplated by the Loan Documents, and provide Administrative Agent with satisfactory evidence thereof; and (ii) if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s 's request a bond, letter of credit, credit or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s 's reasonable satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding clause (i) preceding and to discharge any assessments or liens established against such Borrowing Base the Property as a result of the presence of the Hazardous Material on the Borrowing Base Property. After Within fifteen (15) days after completion of such remedial actions, the applicable Loan Party Borrower shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect an Environmental Assessment of the Property made after such completion and confirming to the applicable Borrowing Base Property or similar confirmation by the applicable regulator Administrative Agent's satisfaction that all required remedial action as stated above has been taken and successfully completed and that Administrative Agent's environmental consultant shall have concurred with the conclusions set forth in such Environmental Assessment and confirmed to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent such confirmationthat adequate measures have been taken by Borrower to eliminate any credible risk of further (or a recurrence of such) contamination on the Property or any adjacent property. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material from any Borrowing Base the Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail Borrower fails to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event a default under any of Default the Loan Documents and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties Property at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.

Remedial Actions. If If, prior to the Release Date, any Contamination Hazardous Material is discovered on the Property in violation of any Borrowing Base Property Environmental Law, at any time and regardless of the cause, (i) Borrower shall promptly at the applicable Loan Parties’ Borrower’s sole expense, risk and expense remove, treat, and dispose of the Hazardous Material, to background levels, in compliance with Material as required under all applicable Environmental Requirements and solely under Borrower’s name (or if restoration to applicable background levels removal is not feasibleprohibited by any Environmental Requirement, take whatever action is required by any Environmental Requirement providedRequirement), however, that any cleanup standard approved by the applicable regulatory authority that is based on institutional or engineering controls must first be submitted for approval to Administrative Agent, such approval not to be unreasonably withheld or delayed, in addition to taking and take such other action as is necessary to have the full use and benefit of such Borrowing Base the Property as contemplated by the Loan Documents, and . Borrower shall provide Administrative Agent with satisfactory evidence thereof; and of the actions taken as required by this clause (ii) d). Borrower shall, if requested by Administrative Agent, provide to Administrative Agent within thirty (30) days of Administrative Agent’s request a bond, letter of credit, credit or other financial assurance, including self-assurance, assurance evidencing to Administrative Agent’s satisfaction that all necessary funds are readily available to pay the costs and expenses of the actions required by the preceding this clause (id) and to discharge any assessments or liens established against such Borrowing Base the Property as a result of the presence of the Hazardous Material on the Borrowing Base PropertyProperty in violation of any Environmental Law. After Within thirty (30) days after completion of such remedial actions, the applicable Loan Party Borrower shall promptly request regulatory approval, take all reasonable measures to expedite issuance of such approval obtain and upon receipt thereof deliver to Administrative Agent a letter indicating that no further action is required with respect an Environmental Assessment of the Property made after such completion and confirming to the applicable Borrowing Base Property or similar confirmation by the applicable regulator Administrative Agent’s satisfaction that all required remedial action as stated above has been taken and successfully completed and that there is no evidence or suspicion of any contamination or risk of contamination on the Property or any adjacent property in violation of Environmental Law, or of violation of any Environmental Requirement, with respect to the satisfaction of the applicable regulator. The Loan Parties shall not be deemed to have satisfied their remedial obligations under this provision until they have provided the Administrative Agent any such confirmationHazardous Material. Administrative Agent on behalf of Lenders may, but shall never be obligated to, remove or cause the removal of any Hazardous Material in violation of Environmental Law from any Borrowing Base the Property (or if removal is prohibited by any Environmental Requirement, take or cause the taking of such other action as is required by any Environmental Requirement) if the Loan Parties fail Borrower fails to promptly commence such remedial actions in accordance with the terms hereof following discovery and thereafter diligently prosecute the same to completion in accordance with the terms hereof satisfaction of Administrative Agent (without limitation of the rights of Administrative Agent on behalf of Lenders to declare an Event a default under any of Default the Loan Documents and to exercise all rights and remedies available by reason thereof); and Administrative Agent and its designees are hereby granted access to the Borrowing Base Properties Property at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to remove or cause such removal or to take or cause the taking of any such other action. In such instance, the Administrative Agent and its designees and the Lenders are acting as authorized agents of the Loan Parties, who shall be responsible for, and shall sign any required manifests for, offsite disposal.