Response Actions. The Borrower and the Guarantors jointly and severally covenant and agree that if any Release or disposal of Hazardous Materials shall occur or shall have occurred on any Real Estate if the same would have a Material Adverse Effect, the Borrower will cause the prompt containment and removal of such Hazardous Materials and remediation of such Real Estate as necessary to comply with all Environmental Laws or to preserve the value of such Real Estate to the extent necessary to avoid a Material Adverse Effect.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Sl Green Realty Corp), Revolving Secured Credit and Guaranty Agreement (Sl Green Realty Corp), Credit and Guaranty Agreement (Sl Green Realty Corp)
Response Actions. The Each Borrower and the Guarantors jointly Guarantor covenants and severally covenant and agree agrees that if any Release or disposal of Hazardous Materials Material shall occur or shall have occurred on any Real Estate if the same would have a Material Adverse EffectProperty owned by it, the such Borrower or Guarantor will cause the prompt containment and removal of such Hazardous Materials Material and remediation of such Real Estate Property as necessary to comply with all Environmental Laws or to preserve the value of such Real Estate to the extent necessary to avoid a Material Adverse EffectProperty.
Appears in 3 contracts
Samples: Credit Agreement (Lexington Corporate Properties Trust), Senior Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust), Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust)
