Site Assessments and Information. If Administrative Agent shall ever have reason to believe that any Hazardous Material affects any Collateral Property, or if any Environmental Claim is made or threatened, if requested by Administrative Agent, at Borrowers' expense, provide to Administrative Agent from time to time, in each case within thirty (30) days after Administrative Agent's request, an Environmental Assessment (hereinafter defined) made after the date of Administrative Agent's request. As used in this Agreement, the term "Environmental Assessment" means a report (including all drafts thereof) of an environmental assessment of such Collateral Property and of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent may reasonably request, by a consulting firm acceptable to Administrative Agent and made in accordance with Administrative Agent's established guidelines. Borrowers will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers to facilitate the completion of the Environmental Assessment. If Borrowers fail to furnish Administrative Agent within ten (10) days after Administrative Agent's request with a copy of an agreement with an acceptable environmental consulting firm to provide such Environmental Assessment, or if Borrowers fail to furnish to Administrative Agent such Environmental Assessment within thirty (30) days after Administrative Agent's request, Administrative Agent may cause any such Environmental Assessment to be made at Borrowers' expense and risk. Administrative Agent and its designees are hereby granted access to the 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 make or cause to be made such Environmental Assessments. Administrative Agent may disclose to interested parties any information Administrative Agent ever has about the environmental condition or compliance of the Collateral Properties, but shall be under no duty to disclose any such information except as may be required by Law. Administrative Agent shall be under no duty to make any Environmental Assessment of the Collateral Properties, and in no event shall any such Environmental Assessment by Administrative Agent be or give rise to a representation that any Hazardous Material is or is not present on the Collateral Properties, or that there has been or shall be compliance with any Environmental Requirement, nor shall Borrowers or any other person be entitled to rely on any Environmental Assessment made by Administrative Agent or at Administrative Agent's request. Neither Administrative Agent nor any Lender owes any duty of care to protect Borrowers or any other Person against, or to inform them of, any Hazardous Material or other adverse condition affecting the Collateral Properties.
Appears in 1 contract
Site Assessments and Information. If Administrative Agent shall ever have reason to believe that any Hazardous Material affects any Collateral Propertythe Property in violation of Environmental Law that is not contained in the Environmental Report, or if any Environmental Claim is made or threatened, or if a Default shall have occurred under the Loan Documents which Default has not been waived in writing by Administrative Agent, or upon the occurrence of the Release Date (hereinafter defined) if requested by Administrative Agent, Borrower shall, at Borrowers' Borrower’s expense, provide to Administrative Agent from time to time, in each case within thirty (30) days after Administrative Agent's ’s request, an Environmental Assessment (hereinafter defined) made after the date of Administrative Agent's ’s request. As used in this Agreement, the term "“Environmental Assessment" ” means a report (including all drafts thereof) of an environmental assessment of such Collateral the Property and of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent may reasonably request, by a consulting firm acceptable to Administrative Agent and made in accordance with Administrative Agent's ’s established guidelines. Borrowers Borrower will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers Borrower to facilitate the completion of the Environmental Assessment. If Borrowers fail Borrower fails to furnish Administrative Agent within ten (10) days after Administrative Agent's ’s request with a copy of an agreement with an acceptable environmental consulting firm to provide such Environmental Assessment, or if Borrowers fail Borrower fails to furnish to Administrative Agent such Environmental Assessment within thirty (30) days after Administrative Agent's ’s request, Administrative Agent may cause any such Environmental Assessment to be made at Borrowers' Borrower’s expense and risk. Administrative Agent and its designees are hereby granted access to the Collateral 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 make or cause to be made such Environmental Assessments. Administrative Agent may disclose to interested parties any information Administrative Agent ever has about the environmental condition or compliance of the Collateral PropertiesProperty, but shall be under no duty to disclose any such information except as may be required by Lawlaw. Administrative Agent shall be under no duty to make any Environmental Assessment of the Collateral PropertiesProperty, and in no event shall any such Environmental Assessment by Administrative Agent be or give rise to a representation that any Hazardous Material is or is not present on the Collateral PropertiesProperty, or that there has been or shall be compliance with any Environmental Requirement, nor shall Borrowers Borrower or any other person Person be entitled to rely on any Environmental Assessment made by Administrative Agent or at Administrative Agent's ’s request. Neither Administrative Agent nor any Lender owes any duty of care to protect Borrowers Borrower or any other Person against, or to inform them of, any Hazardous Material or other adverse condition affecting the Collateral PropertiesProperty.
Appears in 1 contract
Samples: Construction Loan Agreement (Bluerock Residential Growth REIT, Inc.)
Site Assessments and Information. If Administrative Agent shall Lender ever have reason to believe has a reasonable good faith belief that any Hazardous Material affects any Collateral the Property, or if any Environmental Claim is made or threatened, or if requested by Administrative Agentan Event of Default (as that term is used and defined in the Loan Agreement) will have occurred under any of the Loan Documents, Obligor will, at Borrowers' their expense, provide to Administrative Agent Lender from time to time, in each case within thirty (30) 30 days after Administrative Agent's Lender’s request, an Environmental Assessment (hereinafter defined) made after the date of Administrative Agent's Lender’s request. As used in this Agreement, the term "Environmental Assessment" means a report (including all drafts thereof) of an environmental assessment of such Collateral Property and of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent may reasonably request, by a consulting firm acceptable to Administrative Agent and made in accordance with Administrative Agent's established guidelines. Borrowers Obligor will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers Obligor to facilitate the completion of the Environmental Assessment. If Borrowers fail Obligor fails to furnish Administrative Agent Lender within ten (10) 10 days after Administrative Agent's Lender’s request with a copy of an agreement with an acceptable environmental consulting firm to provide such the Environmental Assessment, or if Borrowers fail Obligor fails to furnish to Administrative Agent such Lender the Environmental Assessment within thirty (30) 30 days after Administrative Agent's Lender’s request, Administrative Agent Lender may cause any such Environmental Assessment to be made at Borrowers' Obligor’s expense and risk. Administrative Agent Lender and its designees are hereby granted access to the Collateral Properties Property at any time or times, upon reasonable notice (which may be written or oral), and a license which that is coupled with an interest and irrevocable, to make or cause to be made such the Environmental Assessments. Administrative Agent Lender may disclose to interested parties any information Administrative Agent Lender ever has about the environmental condition or compliance of the Collateral PropertiesProperty to any participant and, upon an Event of Default, to any interested parties, but shall will be under no duty to disclose any such of the information except as may be required by Lawlaw. Administrative Agent shall Lender will be under no duty to make any Environmental Assessment of the Collateral PropertiesProperty, and in no event shall any such Environmental Assessment prepared by Administrative Agent or for the Lender will be interpreted as or will give rise to a representation that any Hazardous Material is or is not present on the Collateral PropertiesProperty, or that there has been or shall will be compliance with any Environmental RequirementLaw, nor shall Borrowers will Obligor or any other person be entitled to rely on any Environmental Assessment made by Administrative Agent Lender or at Administrative Agent's Lender’s request. Neither Administrative Agent nor any Lender owes any no duty of care to protect Borrowers Obligor or any other Person person against, or to inform them of, any Hazardous Material or other adverse condition affecting the Collateral PropertiesProperty. Any indemnified party will give Obligor reasonable notice before entering the Property.
Appears in 1 contract
Samples: Environmental Certification and Indemnity Agreement (Quest Software Inc)
Site Assessments and Information. If Administrative Agent shall ever have reason to believe that any Hazardous Material affects any Collateral PropertyProject, or if any Environmental Claim is made or threatened, or if a Default shall have occurred under the Loan Documents, or upon the occurrence of the Release Date (hereinafter defined) as to any Project, if requested by Administrative Agent, Borrower shall at Borrowers' Borrower's expense, provide to Administrative Agent from time to time, in each case within thirty sixty (3060) days after Administrative Agent's request, an Environmental Assessment (hereinafter defined) made after the date of Administrative Agent's request. As used in this Agreement, the term "Environmental Assessment" means a report (including all drafts thereof) of an environmental assessment of such Collateral Property and the Project in question of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent may reasonably request, by a consulting firm reasonably acceptable to Administrative Agent and made in accordance with Administrative Agent's established guidelines. Borrowers Borrower will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers Borrower to facilitate the completion of the Environmental Assessment. If Borrowers fail Borrower fails to furnish Administrative Agent within ten (10) days after Administrative Agent's request with a copy of an agreement with an a reasonably acceptable environmental consulting firm to provide such Environmental Assessment, or if Borrowers fail Borrower fails to furnish to Administrative Agent such Environmental Assessment within thirty sixty (3060) days after Administrative Agent's request, Administrative Agent may cause any such Environmental Assessment to be made at Borrowers' Borrower's expense and risk. Administrative Agent and its designees are hereby granted access to the Collateral 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 make or cause to be made such Environmental Assessments. Administrative Agent may disclose to interested parties the Lenders, any loan participants or assignees, prospective loan participants or assignees, and regulatory authorities if required by such regulatory authorities, any information Administrative Agent ever has about the environmental condition or compliance of the Collateral PropertiesProperty, but shall be under no duty to disclose any such information except as may be required by LawLaw and, at the request of Borrower, Administrative Agent shall provide Borrower with a list of parties to whom Administrative Agent has disclosed such information. Administrative Agent shall be under no duty to make any Environmental Assessment of any of the Collateral PropertiesProperty, and in no event shall any such Environmental Assessment by Administrative Agent be or give rise to a representation that any Hazardous Material is or is not present on any of the Collateral PropertiesProperty, or that there has been or shall be compliance with any Environmental Requirement, nor shall Borrowers any Loan Party or any other person Person be entitled to rely on any Environmental Assessment made by Administrative Agent or at Administrative Agent's request. Neither Administrative Agent nor any Lender owes owe any duty of care to protect Borrowers any Loan Party or any other Person against, or to inform them of, any Hazardous Material or other adverse condition affecting any of the Collateral PropertiesProperty.
Appears in 1 contract
Site Assessments and Information. If Administrative Agent or any Lender shall ever have reason to believe that any Hazardous Material affects any Collateral Borrowing Base Property, or if any Environmental Claim is made or threatened, or if a Default or an Event of Default shall have occurred under the Credit Agreement or the other Loan Documents, or upon the occurrence of the Transition Date (defined below) if requested by Administrative Agent, Borrower will at Borrowers' expense, its expense provide to Administrative Agent from time to time, in each case within thirty (30) days after Administrative Agent's ’s request, an Environmental Assessment (hereinafter defineddefined below) made after the date of Administrative Agent's ’s request. As used in this Agreement, the term "“Environmental Assessment" ” means a report (including all drafts thereof) of an environmental assessment of such Collateral a Borrowing Base Property and of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent may reasonably request, by a consulting firm acceptable to Administrative Agent and made in accordance with Administrative Agent's ’s established guidelines. Borrowers Borrower and Guarantors will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers Borrower or any Guarantor to facilitate the completion of the Environmental Assessment. If Borrowers Borrower or Guarantors fail to furnish Administrative Agent within ten (10) days after Administrative Agent's ’s request with a copy of an agreement with an acceptable environmental consulting firm to provide such Environmental Assessment, or if Borrowers Borrower or Guarantors fail to furnish to Administrative Agent such Environmental Assessment within thirty (30) days after Administrative Agent's ’s request, Administrative Agent may cause any such Environmental Assessment to be made at Borrowers' Borrower’s expense and risk. Administrative Agent and its designees are hereby granted access to the Collateral 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 make or cause to be made such Environmental Assessments. Administrative Agent may disclose to interested parties any information Administrative Agent ever has about the environmental condition or compliance of the Collateral Propertiesany Borrowing Base Property, but shall be under no duty to disclose any such information except as may be required by Lawlaw. Administrative Agent shall be under no duty to make any Environmental Assessment of the Collateral Propertiesany Borrowing Base Property, and in no event shall any such Environmental Assessment by Administrative Agent be or give rise to a representation that any Hazardous Material is or is not present on the Collateral Propertiesa Borrowing Base Property, or that there has been or shall be compliance with any Environmental Requirement, nor shall Borrowers Borrower, Guarantors or any other person be entitled to rely on any Environmental Assessment made by Administrative Agent or at Administrative Agent's ’s request. Neither Administrative Agent Agent, L/C Issuer nor any Lender owes any duty of care to protect Borrowers Borrower, Guarantors or any other Person person against, or to inform them of, any Hazardous Material or other adverse condition affecting the Collateral Borrowing Base Properties.
Appears in 1 contract
Samples: Environmental Indemnity Agreement (American Realty Capital Properties, Inc.)
Site Assessments and Information. If Administrative Agent Lender shall ever have reason to believe that any Hazardous Material affects any Collateral the Property, or if any Environmental Claim is made or threatened, or if a Default (as defined in the Deed of Trust) shall have occurred under the Loan Documents, or upon the occurrence of the Release Date (hereinafter defined) if requested by Administrative AgentLender, Obligors shall at Borrowers' their expense, provide to Administrative Agent Lender from time to time, in each case within thirty (30) days after Administrative Agent's Lender’s request, an Environmental Assessment (hereinafter defined) made after the date of Administrative Agent's Lender’s request. As used in this Agreement, the term "“Environmental Assessment" ” means a report (including all drafts thereof) of an environmental assessment of such Collateral the Property and of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent Lender may reasonably request, by a consulting firm acceptable to Administrative Agent Lender and made in accordance with Administrative Agent's Lender’s established guidelines. Borrowers Obligors will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers Obligors to facilitate the completion of the Environmental Assessment. If Borrowers Obligors fail to furnish Administrative Agent Lender within ten (10) days after Administrative Agent's Lender’s request with a copy of an agreement with an acceptable environmental consulting firm to provide such Environmental Assessment, or if Borrowers fail any Obligor fails to furnish to Administrative Agent Lender such Environmental Assessment within thirty (30) days after Administrative Agent's Lender’s request, Administrative Agent Lender may cause any such Environmental Assessment to be made at Borrowers' Obligor’s expense and risk. Administrative Agent Lender and its designees are hereby granted access to the Collateral 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 make or cause to be made such Environmental Assessments. Administrative Agent Lender may disclose to interested parties any information Administrative Agent Lender ever has about the environmental condition or compliance of the Collateral PropertiesProperty, but shall be under no duty to disclose any such information except as may be required by Lawlaw. Administrative Agent Lender shall be under no duty to make any Environmental Assessment of the Collateral PropertiesProperty, and in no event shall any such Environmental Assessment by Administrative Agent Lender be or give rise to a representation that any Hazardous Material is or is not present on the Collateral PropertiesProperty, or that there has been or shall be compliance with any Environmental Requirement, nor shall Borrowers Obligors or any other person be entitled to rely on any Environmental Assessment made by Administrative Agent Lender or at Administrative Agent's Lender’s request. Neither Administrative Agent nor any Lender owes any no duty of care to protect Borrowers Obligors or any other Person person against, or to inform them of, any Hazardous Material or other adverse condition affecting the Collateral PropertiesProperty.
Appears in 1 contract
Samples: Environmental Indemnity Agreement (Interline Resources Corp)
Site Assessments and Information. If Administrative Agent Lender shall ever have reason to believe that any Hazardous Material affects any Collateral the Property, or if any Environmental Claim is made or threatened, or if a Default shall have occurred under the Loan Documents, or upon the occurrence of the Release Date (hereinafter defined) if requested by Administrative AgentLender, Borrower shall at Borrowers' Borrower's expense, provide to Administrative Agent Lender from time to time, in each case within thirty (30) days after Administrative AgentLender's request, an Environmental Assessment (hereinafter defined) made after the date of Administrative AgentLender's request. As used in this Agreement, the term "Environmental AssessmentENVIRONMENTAL ASSESSMENT" means a report (including all drafts thereof) of an environmental assessment of such Collateral the Property and of such scope (including but not limited to the taking of soil borings and air and groundwater samples and other above and below ground testing) as Administrative Agent Lender may reasonably request, by a consulting firm reasonably acceptable to Administrative Agent Lender and made in accordance with Administrative AgentLender's established guidelines. Borrowers Borrower will cooperate with each consulting firm making any such Environmental Assessment and will supply to the consulting firm, from time to time and promptly on request, all information available to Borrowers Borrower to facilitate the completion of the Environmental Assessment. If Borrowers fail Borrower fails to furnish Administrative Agent Lender within ten (10) days after Administrative AgentLender's request with a copy of an agreement with an acceptable environmental consulting firm to provide such Environmental Assessment, or if Borrowers fail Borrower fails to furnish to Administrative Agent Lender such Environmental Assessment within thirty (30) days after Administrative AgentLender's request, Administrative Agent Lender may cause any such Environmental Assessment to be made at Borrowers' Borrower's expense and risk. Administrative Agent Lender and its designees are hereby granted access to the Collateral 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 make or cause to be made such Environmental Assessments. Administrative Agent Lender may disclose to interested parties any information Administrative Agent Lender ever has about the environmental condition or compliance of the Collateral PropertiesProperty, but shall be under no duty to disclose any such information except as may be required by Lawlaw. Administrative Agent Lender shall be under no duty to make any Environmental Assessment of the Collateral PropertiesProperty, and in no event shall any such Environmental Assessment by Administrative Agent Lender be or give rise to a representation that any Hazardous Material is or is not present on the Collateral PropertiesProperty, or that there has been or shall be compliance with any Environmental Requirement, nor shall Borrowers Borrower or any other person be entitled to rely on any Environmental Assessment made by Administrative Agent Lender or at Administrative AgentLender's request. Neither Administrative Agent nor any Lender owes any no duty of care to protect Borrowers Borrower or any other Person person against, or to inform them of, any Hazardous Material or other adverse condition affecting the Collateral PropertiesProperty.
Appears in 1 contract
Samples: Loan Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)