Common use of Remediation Work Clause in Contracts

Remediation Work. In case the Development or any part thereof shall be subject to remediation, abatement, containment or any other work (the "Remediation Work") mandated or advised by any federal, state, local or other governmental agency with respect to the Tenant's Hazardous Materials, the Remediation Work shall be the responsibility of Tenant, unless such mandate or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materials, in which case Landlord shall be responsible for the Remediation Work. In no event shall Landlord be required to repair or replace Tenant's stock in trade, leasehold improvements, fixtures, furniture, furnishing or floor coverings and equipment. The Remediation Work and any restoration and rebuilding of the Development shall be completed within one hundred eighty (180) days of the date the original notice of mandate or advisement was delivered. If Landlord is responsible for the Remediation Work, all Remediation Work done in and to the Building shall be made in accordance with plans and specifications approved by Tenant, which such approval shall not be unreasonably withheld or delayed. If Tenant is responsible for the Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and any restoration performed in or on the Development shall be performed in conformance with all applicable laws, statutes and regulations. Upon completion of the Remediation Work, Landlord shall give possession to Tenant of the same space in the Building without diminution or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release of any Hazardous Materials in connection with the Development or of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days of receipt of the notice.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease and Guaranty (Aei Income & Growth Fund 25 LLC), Assignment and Assumption of Lease and Guaranty (AEI Income & Growth Fund 26 LLC)

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Remediation Work. In case If any Release or threatened Release exists or occurs before the Development Deed of Trust is reconveyed or any part thereof foreclosed upon, Indemnitor shall immediately give notice of the condition to Lender, and Indemnitor shall promptly cause all Hazardous Substances to be subject cleaned up and removed from, the Property, and the Property to remediationbe restored, abatementin compliance with all applicable Environmental Laws and other laws, containment or any other work ordinances, rules and regulations (the "Remediation Work") mandated or advised ”). If requested by Lender, Indemnitor shall submit to Lender, for Lender’s prior approval, complete plans and specifications for all Remediation Work to be done before any federalRemediation Work is performed, stateexcept in an emergency. Indemnitor shall cause all Remediation Work to be performed in a good and workmanlike manner by a qualified licensed contractor approved in writing by Lender, local or other governmental agency under the supervision of a qualified environmental engineer approved in writing by Lender, in accordance with respect to the Tenant's Hazardous Materials, plans and specifications for the Remediation Work approved in writing by Lender, and in compliance with all applicable Environmental Laws and other applicable laws, ordinances, rules and regulations. Indemnitor shall be the responsibility of Tenantcause all required permits, unless such mandate or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materials, in which case Landlord shall be responsible licenses and approvals for the Remediation Work. In no event shall Landlord Work to be required to repair or replace Tenant's stock in trade, leasehold improvements, fixtures, furniture, furnishing or floor coverings obtained and equipment. The the Remediation Work to be prosecuted diligently and any restoration and rebuilding of the Development shall be completed within one hundred eighty (180) days in a timely manner. Indemnitor shall, on demand, pay to Lender all direct costs and reimburse Lender for all expenses incurred by Lender in connection with any review, approval or inspection by Lender relating to any Remediation Work, together with interest thereon after such demand at the highest rate any indebtedness secured by the Deed of the date the original notice Trust bears. Under no circumstances shall Lender be liable to Indemnitor for any damage, loss, cost or expenses incurred by Indemnitor on account of mandate or advisement was delivered. If Landlord is responsible any plans and specifications for the Remediation Work, all the performance of any Remediation Work done or any delay in and completion of any Remediation Work. Lender shall have the right, but not any obligation, to participate in any action or proceeding relating to any Release or threatened Release or any past or present violation of any Environmental Laws relating to the Building shall be made in accordance with plans and specifications approved by Tenant, which such approval shall not be unreasonably withheld Property or delayed. If Tenant is responsible the necessity for the or adequacy of any Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and any restoration performed in or on the Development shall be performed in conformance with all applicable laws, statutes and regulations. Upon completion of the Remediation Work, Landlord shall give possession to Tenant of the same space in the Building without diminution or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release of any Hazardous Materials in connection with the Development or of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days of receipt of the notice.

Appears in 2 contracts

Samples: Hazardous Materials Indemnity Agreement (Altair Nanotechnologies Inc), Hazardous Materials Indemnity Agreement (Altair Nanotechnologies Inc)

Remediation Work. In case the Development If any investigation, site monitoring, containment, cleanup, removal, restoration or other remediation work of any part thereof shall be subject to remediation, abatement, containment kind or any other work nature (the "Remediation Work") mandated is or advised by becomes necessary or required pursuant to any applicable federal, statestate or local law, local ordinance, rule or other regulation or the order or directive of any governmental agency with respect to authority having jurisdiction over the Tenant's Hazardous MaterialsProperty, the Remediation Work shall be the responsibility of Tenant, unless such mandate Hazardous Substances or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materials, in which case Landlord shall be responsible for the Remediation Work. In no event , because of, or in connection with, the past, present or future presence, suspected presence, release or suspected release of a Hazardous Substance on or around any portion of the Property or in the soil, groundwater or soil vapor on or under any portion of the Property, Obligor shall Landlord promptly commence to perform, or cause to be required commenced, and thereafter diligently prosecute to repair completion, all such Remediation Work (or replace Tenant's stock in tradeif Varian is obligated pursuant to the Stock Sale Agreement to perform such Remediation Work, leasehold improvements, fixtures, furniture, furnishing or floor coverings and equipmentto cause Varian to perform the same). The Remediation Work and any restoration and rebuilding of the Development shall will be completed within one hundred eighty (180) days of the date the original notice of mandate or advisement was delivered. If Landlord is responsible for the Remediation Work, all Remediation Work done conducted in and to the Building shall be made in accordance with plans and specifications approved by Tenant, which such approval shall not be unreasonably withheld or delayed. If Tenant is responsible for the Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and any restoration performed in or on the Development shall be performed in conformance full compliance with all applicable laws, statutes ordinances, rules and regulations, the orders and directives of all governmental authorities having jurisdiction over the Property, the Hazardous Substances or the Remediation Work. Upon completion Obligor shall cause all Remediation Work to be performed in a good and workmanlike manner by one or more qualified environmental engineers or contractors, and under the supervision of one or more qualified consulting engineers. Obligor's obligations with regard to the Remediation Work shall include obtaining, at the appropriate time, a letter or other written statement from all governmental authorities exercising jurisdiction over the Property, the Hazardous Substances or the Remediation Work that no further action is required. Obligor shall pay (or if Varian is obligated to perform such Remediation Work pursuant to the Stock Sale Agreement, cause Varian to pay) for all Remediation Work, including the costs of plans and specifications, utilities, permits, fees, taxes and insurance premiums in connection therewith, and shall keep the Property free from all mechanics' or other liens arising out of the Remediation Work. Obligor shall keep Lender fully apprised of all developments and findings during the course of any Remediation Work performed by Obligor and shall furnish to Lender, Landlord promptly upon receipt or preparation, such information concerning said Remediation Work as Lender may request from time to time in order to verify Obligor's compliance with this section and to protect Lender's security, including, without limitation, copies of all reports, studies, analyses, contracts, manifests, orders and correspondence. Upon Lender's request, Obligor shall give possession also furnish Lender with written confirmation in a form satisfactory to Tenant Lender showing that all contaminated soil and other materials removed from the Property and any other property affected by the Remediation Work have been properly disposed of in accordance with all applicable laws, ordinances, rules and regulations and the same space orders and directives of all governmental authorities having jurisdiction over the Property, the Hazardous Substances or the Remediation Work. Lender shall have the right, but not the obligation, to participate in any action or proceeding relating to the Building without diminution presence or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release suspected presence of any Hazardous Materials Substances in, on, under or around the Property, or the necessity for or adequacy of any Remediation Work. Such participation shall be solely for the purpose of protecting Lender's security, shall not constitute participation in connection with the Development or of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days of receipt management of the noticeProperty, and shall not impose any liability on Lender or result in a waiver of any default of Obligor.

Appears in 1 contract

Samples: Environmental Indemnity Agreement (Communications & Power Industries Inc)

Remediation Work. In case If any Release or threatened Release of Hazardous Material in, on or under the Development Property exists or occurs by any part thereof person (except as to Landlord or Landlord's employees or contractors) during the term of this Lease or by Tenant at any time, Tenant shall immediately give notice of the condition to Landlord, and Tenant shall promptly clean up and remove all Hazardous Material and restore the Property to be subject to remediation, abatement, containment or any other work in compliance with all Environmental Laws (the "Remediation Work") mandated or advised by any federal, state, local or other governmental agency with respect to the ). Tenant's Hazardous Materials, the obligation to perform Remediation Work shall be exclude any responsibilities by the responsibility of Tenant, unless such mandate or advisement results solely from Landlord's use, generation storage or disposal Tenant to remediate any underground migration of Hazardous MaterialsMaterials which originate outside of the Property and which Hazardous Materials migrate under the Property through no fault of the Tenant. In performing such Remediation Work, in which case Landlord Tenant shall be responsible for comply with the orders and directives of all persons having jurisdiction over the Property or the Remediation Work. In no event Landlord may review any plans and specifications for the Remediation Work before such Remediation Work is performed. Any such plans or specifications shall be prepared by a qualified, licensed engineer or contractor, which Landlord shall have the right to approve or reasonably disapprove, and shall comply with all applicable Environmental Laws, and all other laws, ordinances, rules and regulations. Tenant shall be required to repair or replace responsible at Tenant's stock in tradesole expense to obtain all permits, leasehold improvements, fixtures, furniture, furnishing or floor coverings licenses and equipment. The approvals for the Remediation Work and any restoration to complete the Remediation Work diligently and rebuilding of the Development in a timely manner. Tenant shall be completed within one hundred eighty (180) days of the date the original notice of mandate or advisement was delivered. If Landlord is responsible pay for the all Remediation Work, including the cost of plans, utilities, permits, fees, taxes and insurance premiums in connection therewith. Tenant shall furnish to Landlord promptly upon receipt, copies of all Remediation Work done in reports, studies, analysis, investigations, contracts, correspondence, claims, complaints, pleadings and to the Building shall be made in accordance with plans other information and specifications approved communications received or prepared by Tenant, which such approval shall not be unreasonably withheld or delayed. If Tenant is responsible for the Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and at any restoration performed in or on the Development shall be performed in conformance with all applicable laws, statutes and regulations. Upon completion of the Remediation Work, Landlord shall give possession to Tenant of the same space in the Building without diminution or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release of any Hazardous Materials time in connection with the Development or of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days of receipt of the noticeRemediation Work.

Appears in 1 contract

Samples: Xylan Corp

Remediation Work. In case Promptly upon completion of the Development Consultant's proposal referred to in SECTION 6.10(B), Seller, in its sole and absolute discretion, may, by written notice, notify Buyer either (i) that it will not undertake such remediation work, or any part thereof (ii) that it will do so. If Seller notifies Buyer that it will not undertake the remediation work, Buyer may then either (i) notify Seller that it will not purchase such Real Property or (ii) elect to close and assume the responsibility for such work at Buyer's sole expense following the Closing. If Seller instead notifies Buyer that it will undertake the remediation work, Seller shall be subject engage a reliable environmental engineering firm reasonably acceptable to remediation, abatement, containment or any other work (the "Remediation Work") mandated or advised Buyer and authorized by any applicable federal, state, or local law, policy, or other governmental agency with respect regulation to perform any required remediation. Seller shall use its best efforts to cause such required remediation to be completed on or before the Tenant's Hazardous MaterialsClosing Date, and Seller shall bear all costs of such required remediation; provided that the Remediation Work completion of all such required remediation shall be a condition to Buyer's obligations to consummate the responsibility transactions contemplated by this Agreement. Buyer may, in its sole discretion, authorize Seller to defer any portion of Tenant, unless such mandate or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materialsthe required remediation which Seller and its contractors are unable to complete prior to Closing, in which case Landlord Seller shall cause the portion of the required remediation so deferred to be responsible for the Remediation Work. In completed as promptly as practicable, but in no event shall Landlord be required to repair or replace Tenantlater than 60 days following Closing, at Seller's stock in trade, leasehold improvements, fixtures, furniture, furnishing or floor coverings and equipmentsole expense. The Remediation Work and any restoration and rebuilding Buyer may monitor the performance of the Development shall be completed within one hundred eighty (180) days of the date the original notice of mandate or advisement was delivered. If Landlord is responsible for the Remediation Work, all Remediation Work done in required remediation and to the Building shall be made in accordance with plans and specifications approved by Tenant, which such approval shall not be unreasonably withheld or delayed. If Tenant is responsible for the Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and any restoration performed in or on the Development shall be performed in conformance with all applicable laws, statutes and regulations. Upon completion application of the Remediation WorkStandard, Landlord shall give possession and at its election may cause the Consultant to Tenant review the performance of the same space required remediation. If Buyer directs the Consultant to undertake such review, the required remediation shall be deemed completed only upon certification of its completion by the Consultant. If, however, there is a dispute as to the performance of the required remediation or the application of the Remediation Standard, any such dispute shall be settled by a mutually agreed-upon environmental expert not otherwise involved in the Building without diminution or change of location. If either Landlord or Tenant is given notice of required remediation, whose determination shall be final and binding on the mandate or advisement described herein or of the release of any Hazardous Materials in connection with the Development or of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days of receipt of the noticeparties.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Monterey Homes Corp)

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Remediation Work. In If any Release or threatened Release of Hazardous Material in, on or under the Property exists or occurs by any person other than Landlord during the term of this Lease or by Tenant at any time as to the Property or the Project, Tenant shall immediately give notice of the condition to Landlord, and Tenant shall promptly clean up and remove all Hazardous Material (and in no event may Tenant leave any Hazardous Material on or under the Property) and restore the Property (or Project, as the case may be) to the Development same condition as such Property (or any part thereof Project as the case may be) was prior to such Release of Hazardous Materials, and additionally, shall restore and cause the Property (or the Project as the case may be) to be in compliance with all Environmental Laws which relate to the Release of the subject to remediation, abatement, containment or any other work Hazardous Materials (the "Remediation Work") mandated ). Tenant shall comply with the orders and directives of all persons having jurisdiction over the Property or advised by any federal, state, local or other governmental agency with respect to the Tenant's Hazardous Materials, the Remediation Work shall be the responsibility of Tenant, unless such mandate or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materials, in which case Landlord shall be responsible for the Remediation Work. In no event Landlord may review any plans and specifications for the Remediation Work before such Remediation Work is performed. Any such plans or specifications shall be prepared by a qualified, licensed engineer or contractor, which Landlord shall have the right to approve, and shall comply with all applicable Environmental Laws, and all other laws, ordinances, rules and regulations. Tenant shall be required to repair or replace responsible at Tenant's stock in tradesole expense to obtain all permits, leasehold improvements, fixtures, furniture, furnishing or floor coverings licenses and equipment. The approvals for the Remediation Work and any restoration to complete the Remediation Work diligently and rebuilding of the Development in a timely manner. Tenant shall be completed within one hundred eighty (180) days of the date the original notice of mandate or advisement was delivered. If Landlord is responsible pay for the all Remediation Work, including the cost of plans, utilities, permits, fees, taxes and insurance premiums in connection therewith. Tenant shall furnish to Landlord promptly upon receipt, copies of all Remediation Work done in reports, studies, analysis, investigations, contracts, correspondence, claims, complaints, pleadings and to the Building shall be made in accordance with plans other information and specifications approved communications received or prepared by Tenant, which such approval shall not be unreasonably withheld or delayed. If Tenant is responsible for the Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and at any restoration performed in or on the Development shall be performed in conformance with all applicable laws, statutes and regulations. Upon completion of the Remediation Work, Landlord shall give possession to Tenant of the same space in the Building without diminution or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release of any Hazardous Materials time in connection with the Development or of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days of receipt of the noticeRemediation Work.

Appears in 1 contract

Samples: Obagi Medical Products, Inc.

Remediation Work. In If any Release or threatened Release of Hazardous Material in, on, about or under the Property exists or occurs by any person during the term of this Lease or by Tenant at any time as to the Property or Project, or if any violation of Environmental Laws occurs during the term of this Lease or is caused by Tenant at any time: (i) Tenant shall immediately give notice of the condition or violation to Landlord; (ii) Tenant shall promptly investigate, define, clean up and remove all Hazardous Material (and in no event may Tenant leave any Hazardous Material on or under the Property or the Project) with all applicable governmental agency oversight and approval and restore the Property (or the Project as the case may be) to the Development same condition as such Property (or Project as the case may be) was prior to such Release of Hazardous Material, so that the Property (or Project as the case may be) may be used for any part thereof and all future unrestricted uses; and (iii) Tenant shall restore and cause the Property (or Project as the case may be) to be subject to remediationin full compliance with all applicable Environmental Laws (collectively, abatement, containment or any other work (the "Remediation Work") mandated ”). Tenant shall comply with any and all orders and directives of all persons and/or governmental agencies having jurisdiction over the Property or advised by any federal, state, local or other governmental agency with respect to the Tenant's Hazardous Materials, the Remediation Work shall be the responsibility of Tenant, unless such mandate or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materials, in which case Landlord shall be responsible for the Remediation Work. In no event Tenant shall provide to Landlord be required and Landlord may review any and all correspondence, documents, communications, plans, applications, reports, work orders, manifests, orders, directives and/or specifications in connection with or relating to repair or replace Tenant's stock in trade, leasehold improvements, fixtures, furniture, furnishing or floor coverings and equipment. The the Remediation Work and any restoration and rebuilding of the Development before such Remediation Work is performed. Any such plans or specifications shall be completed within one hundred eighty (180) days of the date the original notice of mandate prepared by a qualified, licensed engineer or advisement was delivered. If Landlord is responsible for the Remediation Work, all Remediation Work done in and to the Building shall be made in accordance with plans and specifications approved by Tenantcontractor, which such approval Landlord shall not be unreasonably withheld or delayed. If Tenant is responsible for have the Remediation Workright to approve, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and any restoration performed in or on the Development shall be performed in conformance comply with all applicable Environmental Laws, and all other laws, statutes ordinances, rules and regulations. Upon completion of Tenant shall obtain a “No Further Action” letter, or its equivalent, from the Remediation Work, Landlord shall give possession to Tenant of the same space in the Building without diminution or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release of any Hazardous Materials appropriate governmental agency(ies) in connection with the Development Remediation Work. Tenant shall be responsible at Tenant’s sole expense to obtain all permits, licenses, oversight, and approvals for the Remediation Work and to complete the Remediation Work diligently and in a timely manner. Tenant shall pay for all Remediation Work, including, without limitation, the cost of plans, fixing any damage to the Property (or the Project as the case may be), oversight costs, utilities, permits, fees, taxes and insurance premiums in connection therewith. Tenant shall furnish to Landlord promptly upon receipt, copies of noncompliance with all reports, studies, analysis, investigations, contracts, orders, directives, applications, manifests, permits, licenses, authorizations, correspondence, claims, complaints, pleadings and other information and communications received or prepared by Tenant at any federal, state or local laws relating to Hazardous Materials time in connection with any Remediation Work. Landlord may elect at any time, and from time to time, to perform (or contract for the Developmentperformance of) any Remediation Work which is Tenant’s responsibility, and in such event Tenant shall promptly reimburse Landlord for any costs or expenses thereof as same are incurred. Tenant shall provide Landlord with seven days’ prior written notice of any Remediation Work performed on or about the party receiving such notice shall advise Property (or the other party in writing within ten (Project as the case may be). Landlord may observe any Remediation Work. TENANT’S INITIALS _______________ LANDLORD’S INITIALS _______________ 10) days of receipt of the notice.

Appears in 1 contract

Samples: Qualstar Corp

Remediation Work. In case the Development If any investigation, site monitoring, containment, cleanup, removal, restoration or other remediation work of any part thereof shall be subject to remediation, abatement, containment kind or any other work nature (the "Remediation Work") mandated is or advised by becomes necessary or required pursuant to any applicable federal, statestate or local law, local ordinance, rule or other regulation or the order or directive of any governmental agency with respect to authority having jurisdiction over the Tenant's Hazardous MaterialsProperty, the Remediation Work shall be the responsibility of Tenant, unless such mandate Hazardous Substances or advisement results solely from Landlord's use, generation storage or disposal of Hazardous Materials, in which case Landlord shall be responsible for the Remediation Work. In no event , or recommended by any qualified environmental engineer or consultant, because of, or in connection with, the past, present or future presence, suspected presence, release or suspected release of a Hazardous Substance on or around any portion of the Property or in the soil, groundwater or soil vapor on or under any portion of the Property, Obligor shall Landlord promptly commence to perform, or cause to be required commenced, and thereafter diligently prosecute to repair or replace Tenant's stock in tradecompletion, leasehold improvements, fixtures, furniture, furnishing or floor coverings and equipmentall such Remediation Work. The Remediation Work and any restoration and rebuilding of the Development shall will be completed within one hundred eighty (180) days of the date the original notice of mandate or advisement was delivered. If Landlord is responsible for the Remediation Work, all Remediation Work done in and to the Building shall be made conducted in accordance with plans the documents, if any, identified in Exhibit C, attached hereto, and specifications approved by Tenant, which such approval shall not be unreasonably withheld or delayed. If Tenant is responsible for the Remediation Work, all Remediation Work done in and to the Development shall be made in accordance with plans and specifications approved by Landlord, which such approval shall not be unreasonably withheld or delayed. All Remediation Work and any restoration performed in or on the Development shall be performed in conformance full compliance with all applicable laws, statutes ordinances, rules and regulations, the orders and directives of all governmental authorities having jurisdiction over the Property, the Hazardous Substances or the Remediation Work. Upon completion Obligor shall cause all Remediation Work to be performed in a good and xxxxxxx like manner by one or more qualified environmental engineers or contractors, and under the supervision of one or more qualified consulting engineers. Obligor’s obligations with regard to the Remediation Work shall include obtaining a letter or other written statement from all governmental authorities exercising jurisdiction over the Property, the Hazardous Substances or the Remediation Work that no further action is required. Obligor shall pay for all Remediation Work, including the costs of plans and specifications, utilities, permits, fees, taxes and insurance premiums in connection therewith, and shall keep the Property free from all mechanics’ or other liens arising out of the Remediation Work. Obligor shall keep Lender fully apprised of all developments and findings during the course of any Remediation Work and shall furnish to Lender, Landlord promptly upon receipt or preparation, such information concerning the Remediation Work as Lender may request from time to time in order to verify Obligor’s compliance with this section and to protect Lender’s security, including, without limitation, copies of all reports, studies, analyses, contracts, manifests, orders and correspondence. Upon Lender’s request, Obligor shall give possession also furnish Lender with written confirmation in a form satisfactory to Tenant Lender showing that all contaminated soil and other materials removed from the Property and any other property affected by the Remediation Work have been properly disposed of in accordance with all applicable laws, ordinances, rules and regulations and the same space orders and directives of all governmental authorities having jurisdiction over the Property, the Hazardous Substances or the Remediation Work. Lender shall have the right, but not the obligation, to participate in any action or proceeding relating to the Building without diminution presence or change of location. If either Landlord or Tenant is given notice of the mandate or advisement described herein or of the release suspected presence of any Hazardous Materials Substances in, on, under or around the Property, or the necessity for or adequacy of any Remediation Work. Such participation shall be solely for the purpose of protecting Lender’s security, and shall not impose any liability on Lender or result in connection with the Development or a waiver of noncompliance with any federal, state or local laws relating to Hazardous Materials in connection with the Development, the party receiving such notice shall advise the other party in writing within ten (10) days default of receipt of the noticeObligor.

Appears in 1 contract

Samples: Environmental Compliance Agreement (Pet DRx CORP)

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