Common use of Site Visits, Observations and Testing Clause in Contracts

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises and any other place where any property of any Loan Party is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action), taking and removing soil or groundwater samples, and conducting tests on any part of the Premises. The Agent is under no duty, however, to visit or observe the Premises or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders will result in a waiver of any default of any Loan Party or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct). In no event will any site visit, observation or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the Premises, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party nor any other party is entitled to rely on any site visit, observation or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any Loan Party or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, to inform any Loan Party or any other party of, any hazardous substances or any other adverse condition affecting the Premises. The Agent may in its discretion, except to the extent the Agent is required to do so by applicable Environmental Laws, disclose to any Loan Party or any other party any report or findings made as a result of, or in connection with, any site visit, observation or testing by the Agent. Each Loan Party understands and agrees that the Agent makes no warranty or representation to any Loan Party or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each Loan Party also understands that depending on the results of any site visit, observation or testing by the Agent and disclosed to such Loan Party, such Loan Party may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party reasonable notice before entering the Premises or any other place the Agent is permitted to enter under this SECTION 6.17. The Agent will make reasonable efforts to avoid interfering with such Loan Party's use of the Premises or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Riddell Sports Inc)

AutoNDA by SimpleDocs

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises Real Estate and any other place where any property of any Loan Party Borrower is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action)Real Estate, taking and removing soil or groundwater samples, and conducting tests on any part of the PremisesReal Estate. The Agent is under no duty, however, to visit or observe the Premises Real Estate or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent Agent's and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and or the Lenders will result in a waiver of any default Default or Event of any Loan Party Default or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct)Lenders. In no event will any site visit, observation observation, or testing by the Agent be a representation that hazardous substances are or are not present in, on on, or under the PremisesReal Estate, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party Borrower nor any other party is entitled to rely on any site visit, observation observation, or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any Loan Party the Borrowers or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any Loan Party the Borrowers or any other party of, any hazardous substances or any other adverse condition affecting the PremisesReal Estate. The Agent may in its discretion, except will promptly disclose to the extent the Agent is required Parent upon its request, or to do so by applicable Environmental Laws, disclose to any Loan Party or any other party as required by law, any report or findings made as a result of, or in connection with, any site visit, observation observation, or testing by the Agent. Each Loan Party understands The Borrowers understand and agrees agree that the Agent makes no warranty or representation to any Loan Party the Borrowers or any other party regarding the truth, accuracy accuracy, or completeness of any such report or findings that may be disclosed. Each Loan Party The Borrowers also understands understand that depending on the results of any site visit, observation observation, or testing by the Agent and disclosed to such Loan Partythe Borrowers, such Loan Party the Borrowers may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party the Borrowers without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party the Borrowers reasonable notice before entering the Premises Real Estate or any other place the Agent is permitted to enter under this SECTION 6.176.16. The Agent will make reasonable efforts to avoid interfering with such Loan Party's the Borrowers' use of the Premises Real Estate or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Post Petition Loan Agreement (Metals Usa Inc)

Site Visits, Observations and Testing. The Agent Lender and its agents and representatives will have the right at any reasonable time and upon reasonable notice to enter and visit the Premises and any other place where any property of any Loan Party the Borrower is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action), taking and removing soil or groundwater samples, and conducting tests on any part of the Premises. The Agent Lender is under no duty, however, to visit or observe the Premises or to conduct tests, and any such acts by the Agent Lender will be solely for the purposes of protecting the AgentLender's Liens security and preserving the Agent and the Lenders' Lender's rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders Lender will result in a waiver of any default of any Loan Party the Borrower or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct). In no event will any site visit, observation or testing by the Agent Lender be a representation that hazardous substances are or are not present in, on or under the Premises, or that there has been or will be compliance with any Environmental Lawlaw, regulation or ordinance pertaining to hazardous substances or any other applicable governmental law. Neither any Loan Party the Borrower nor any other party is entitled to rely on any site visit, observation or testing by the AgentLender. The Agent and the Lenders owe Lender owes no duty of care to protect any Loan Party the Borrower or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any Loan Party the Borrower or any other party of, any hazardous substances or any other adverse condition affecting the Premises. The Agent Lender may in its discretion, except discretion disclose to the extent the Agent is required to do so by applicable Environmental Laws, disclose to any Loan Party Borrower or any other party any report or findings made as a result of, or in connection with, any site visit, observation or testing by the AgentLender. Each Loan Party The Borrower understands and agrees that the Agent Lender makes no warranty or representation to any Loan Party the Borrower or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each Loan Party The Borrower also understands that depending on the results of any site visit, observation or testing by the Agent Lender and disclosed to such Loan Partythe Borrower, such Loan Party the Borrower may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-site specific, and are to be evaluated by such Loan Party the Borrower without advice or assistance from the AgentLender. In each instance, the Agent Lender will give such Loan Party the Borrower reasonable notice before entering the Premises or any other place the Agent Lender is permitted to enter under this SECTION 6.17Section 6.18. The Agent Lender will make reasonable efforts to avoid interfering with such Loan Partythe Borrower's use of the Premises or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Globespan Semiconductor Inc)

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises and any other place where any property of any Loan Party is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action), taking and removing soil or groundwater samples, and conducting tests on any part of the Premises. The Agent is under no duty, however, to visit or observe the Premises or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders will result in a waiver of any default of any Loan Party or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct). In no event will any site visit, observation or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the Premises, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party nor any other party is entitled to rely on any site visit, observation or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any Loan Party or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, to inform any Loan Party or any other party of, any hazardous substances or any other adverse condition affecting the Premises. The Agent may in its discretion, except to the extent the Agent is required to do so by applicable Environmental Laws, disclose to any Loan Party or any other party any report or findings made as a result of, or in connection with, any site visit, observation or testing by the Agent. Each Loan Party understands and agrees that the Agent makes no warranty or representation to any Loan Party or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each Loan Party also understands that depending on the results of any site visit, observation or testing by the Agent and disclosed to such Loan Party, such Loan Party may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party reasonable notice before entering the Premises or any other place the Agent is permitted to enter under this SECTION Section 6.17. The Agent will make reasonable efforts to avoid interfering with such Loan Party's use of the Premises or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Riddell Sports Inc)

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises Real Estate and any other place where any property of the Borrower or any Loan Party Guarantor is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action)Real Estate, taking and removing soil or groundwater samples, and conducting tests on any part of the PremisesReal Estate. The Agent is under no duty, however, to visit or observe the Premises Real Estate or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders will result in a waiver of any default of the Borrower or any Loan Party Guarantor or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct)Lenders. In no event will any site visit, observation or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the PremisesReal Estate, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party the Borrower nor any other party is entitled to rely on any site visit, observation or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any Loan Party the Borrower or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any Loan Party the Borrower or any other party of, any hazardous substances or any other adverse condition affecting the PremisesReal Estate. The Agent may in its discretion, except discretion disclose to the extent the Agent is required Borrower or any Guarantor or to do so by applicable Environmental Laws, disclose to any Loan Party or any other party if so required by law any report or findings made as a result of, or in connection with, any site visit, observation or testing by the Agent; PROVIDED, HOWEVER, that the Agent, prior to any such notification, shall notify the Borrower or the applicable Guarantor of any information Agent intends to deliver to any Governmental Authority. Each Loan Party understands The Borrower and agrees each Guarantor understand and agree that the Agent makes no warranty or representation to the Borrower or any Loan Party Guarantor or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each Loan Party The Borrower and each Guarantor also understands that depending on the results of any site visit, observation or testing by the Agent and disclosed to the Borrower or such Loan PartyGuarantor, the Borrower or such Loan Party Guarantor may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party the Borrower or the applicable Guarantor without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party reasonable notice before entering the Premises Borrower or any other place the Agent is permitted to enter under this SECTION 6.17. The Agent will make reasonable efforts to avoid interfering with such Loan Party's use of the Premises or any other property in exercising any rights provided hereunder.applicable Guarantor

Appears in 1 contract

Samples: Loan and Security Agreement (Fruit of the Loom LTD)

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises and any other place where any property of any Loan Party is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action), taking and removing soil or groundwater samples, and conducting tests on any part of the Premises. The Agent is under no duty, however, to visit or observe the Premises or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders will result in a waiver of any default Default or Event of any Loan Party Default or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct)Lenders. In no event will any site visit, observation or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the Premises, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party nor any other party is entitled to rely on any site visit, observation or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any the Loan Party Parties or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any the Loan Party Parties or any other party of, any hazardous substances or any other adverse condition affecting the Premises. The Agent may in its discretion, except discretion disclose to the extent the Agent is required Loan Parties or to do so by applicable Environmental Laws, disclose to any Loan Party or any other party if so required by law any report or findings made as a result of, or in connection with, any site visit, observation or testing by the Agent. Each The Loan Party understands Parties understand and agrees agree that the Agent makes no warranty or representation to any the Loan Party Parties or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each The Loan Party Parties also understands understand that depending on the results of any site visit, observation or testing by the Agent and disclosed to such the Loan PartyParties, such the Loan Party Parties may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such the Loan Party Parties without advice or assistance from the Agent. In each instance, the Agent will give such the Loan Party Parties reasonable notice before entering the Premises or any other place the Agent is permitted to enter under this SECTION Section 6.17. The Agent will make reasonable efforts to avoid interfering with such the Loan Party's Parties' use of the Premises or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Parker Drilling Co /De/)

AutoNDA by SimpleDocs

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises Real Estate of any Borrower and any other place where any property of any Loan Party a Borrower is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action)Real Estate, taking and removing soil or groundwater samples, and conducting tests on any part of such Real Estate; provided that in the Premisesevent such Real Estate is leased by a Borrower, such observing and testing shall be conducted in accordance with the terms of the lease agreement with respect to such Real Estate. The Agent is under no duty, however, to visit or observe the Premises such Real Estate or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's ’s Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation observation, or testing by the Agent and the Lenders will result in a waiver of any default Default or Event of any Loan Party Default or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct)Lenders. In no event will any site visit, observation observation, or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the Premisessuch Real Estate, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party Borrower nor any other party Person is entitled to rely on any site visit, observation observation, or testing by the Agent. The Except as established under any Requirement of Law, the Agent and the Lenders owe no duty of care to protect any Loan Party Borrower or any other party Person against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any Loan Party Borrower or any other party Person of, any hazardous substances or any other adverse condition affecting the PremisesReal Estate. The Agent may in its discretion, except discretion disclose to the extent the Agent is required to do so by applicable Environmental Laws, disclose to any Loan Party Borrowers or any other party Person if so required by law any report or findings made as a result of, or in connection with, any site visit, observation observation, or testing by the Agent. Each Loan Party Borrower understands and agrees that the Agent makes no warranty or representation to any Loan Party such Borrower or any other party Person regarding the truth, accuracy accuracy, or completeness of any such report or findings that may be disclosed. Each Loan Party Borrower also understands that depending on the results of any site visit, observation observation, or testing by the Agent and disclosed to such Loan Partyany Borrower, such Loan Party Borrower may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party Borrower without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party Borrower reasonable notice before entering the Premises such Real Estate or any other place the Agent is permitted to enter under this SECTION 6.17Section 6.12. The Agent will make reasonable efforts to avoid interfering with such Loan Party's any Borrower’s use of the Premises such Real Estate or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Trump Atlantic City Funding Ii Inc)

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time and upon reasonable prior notice to enter and visit the Premises and any other place where any property of any Loan Party the Borrower is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action), taking and removing soil or groundwater samples, and conducting tests on any part of the Premises. The Agent is under no duty, however, to visit or observe the Premises or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders will result in a waiver of any default of any Loan Party the Borrower or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct)Lenders. In no event will any site visit, observation or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the Premises, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party the Borrower nor any other party is entitled to rely on any site visit, observation or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any Loan Party the Borrower or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any Loan Party the Borrower or any other party of, any hazardous substances or any other adverse condition affecting the Premises. The Agent may in its discretion, except discretion disclose to the extent the Agent is required to do so by applicable Environmental Laws, disclose to any Loan Party Borrower or any other party any report or findings made as a result of, or in connection with, any site visit, observation or testing by the AgentAgent and may in its discretion allow its representative to provide split samples for the Borrower's own purposes. Each Loan Party The Borrower understands and agrees that the Agent makes no warranty or representation to any Loan Party the Borrower or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each Loan Party The Borrower also understands that depending on the results of any site visit, observation or testing by the Agent and disclosed to such Loan Partythe Borrower, such Loan Party the Borrower may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party the Borrower without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party the Borrower reasonable notice before entering the Premises or any other place the Agent is permitted to enter under this SECTION Section 6.17. The Agent will make reasonable efforts to avoid interfering with such Loan Partythe Borrower's use of the Premises or any other property in exercising any rights provided hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Centrum Industries Inc)

Site Visits, Observations and Testing. The Agent and its representatives will have the right at any reasonable time to enter and visit the Premises Real Estate and any other place where any property of any Loan Party Borrower is located for the purposes of observing the Premises, and subject to the terms of any lease of Premises and if the Agent has a reasonable basis for doing so (such as a Phase I report recommending any such action)Real Estate, taking and removing soil or groundwater samples, and conducting tests on any part of the PremisesReal Estate. The Agent is under no duty, however, to visit or observe the Premises Real Estate or to conduct tests, and any such acts by the Agent will be solely for the purposes of protecting the Agent's Liens and preserving the Agent and the Lenders' rights under this Agreement. No site visit, observation or testing by the Agent and the Lenders will result in a waiver of any default of any Loan Party Borrower or impose any liability on the Agent or any Lender (except for the Agent's or such Lender's gross negligence or willful misconduct)Lenders. In no event will any site visit, observation or testing by the Agent be a representation that hazardous substances are or are not present in, on or under the PremisesReal Estate, or that there has been or will be compliance with any Environmental Law. Neither any Loan Party Borrower nor any other party is entitled to rely on any site visit, observation or testing by the Agent. The Agent and the Lenders owe no duty of care to protect any Loan Party Borrower or any other party against, or, except to the extent the Agent is required to do so by applicable Environmental Laws, or to inform any Loan Party Borrower or any other party of, any hazardous substances or any other adverse condition affecting the PremisesReal Estate. The Agent may in its discretion, except to the extent the Agent is required to do so by applicable Environmental Laws, discretion disclose to any Loan Party Borrower or to any other party if so required by law any report or findings made as a result of, or in connection with, any site visit, observation or testing by the Agent. Each Loan Party Borrower understands and agrees that the Agent makes no warranty or representation to any Loan Party such Borrower or any other party regarding the truth, accuracy or completeness of any such report or findings that may be disclosed. Each Loan Party Borrower also understands that depending on the results of any site visit, observation or testing by the Agent and disclosed to such Loan PartyBorrower, such Loan Party Borrower may have a legal obligation to notify one or more environmental agencies of the results, that such reporting requirements are site-specific, and are to be evaluated by such Loan Party Borrower without advice or assistance from the Agent. In each instance, the Agent will give such Loan Party the applicable Borrower reasonable notice before entering the Premises Real Estate or any other place the Agent is permitted to enter under this SECTION Section 6.17. The Agent will make reasonable efforts to avoid interfering with such Loan Partyany Borrower's use of the Premises Real Estate or any other property in exercising any rights provided hereunder. Any such site visit, observation and testing undertaken by the Agent or its representative under this Section 6.17 while no Event of Default exists shall be at the sole cost and expense of the Agent and Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Eftc Corp/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!