Site Visits, Observations and Testing. The Bank and its agents and representatives will have the right at any time the Bank reasonably believes any environmental problem exists on any Real Property, and upon not less than three Banking Day's prior notice to Borrower, to enter and visit the Real Property and any other place where any property is located for the purposes of observing the Real Property, taking and removing soil or groundwater samples, and conducting tests on any part of the Real Property. Representatives of the Borrower may be present. The Bank is under no duty, however, to visit or observe the Real Property or to conduct tests, and any such acts by the Bank will be solely for the purposes of protecting the Bank's security and preserving the Bank's rights under this Agreement. No site visit, observation or testing by the Bank will result in a waiver of any Potential Default or Default of any Company or impose any liability on the Bank. In no event will any site visit, observation or testing by the Bank be a representation that hazardous substances are or are not present in, on or under the Real Property, or that there has been or will be compliance with any law, regulation or ordinance pertaining to hazardous substances or any other applicable governmental law. Neither any Company nor any other party is entitled to rely on any site visit, observation or testing by the Bank. The Bank owes no duty of care to protect any Company or any other party against, or to inform any Company or any other party of, any hazardous substances or any other adverse condition affecting the Real Property. The Bank will not be obligated to disclose to the 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 Bank. In each instance, the Bank will give the Borrower reasonable notice before entering the Real Property. The Bank will make reasonable efforts to avoid interfering with the Borrower's use of the Real Property or any other property in exercising any rights provided in this Section.
Appears in 2 contracts
Samples: Loan Agreement (Fresh America Corp), Business Loan Agreement (Fresh America Corp)
Site Visits, Observations and Testing. The Bank and its agents and representatives will have the right at any reasonable time the Bank reasonably believes any environmental problem exists on any Real Property, and upon not less than three Banking Day's prior notice to Borrower, to enter and visit the Real Property and any other place where any property is located for the purposes of observing the Real Property, taking and removing soil or groundwater samples, and conducting tests on any part of the Real Property. Representatives of the Borrower may be present. The Bank is under no duty, however, to visit or observe the Real Property or to conduct tests, and any such acts by the Bank will be solely for the purposes of protecting the Bank's security and preserving the Bank's rights under this Restated Credit Agreement. No site visit, observation or testing by the Bank will result in a waiver of any Potential Default or Event of Default of any Company the Borrower or impose any liability on the Bank. In no event will any site visit, observation or testing by the Bank be a representation that hazardous substances are or are not present in, on or under the Real Property, or that there has been or will be compliance with any law, regulation or ordinance pertaining to hazardous substances or any other applicable governmental law. Neither any Company the Borrower nor any other party is entitled to rely on any site visit, observation or testing by the Bank. The Bank owes no duty of care to protect any Company the Borrower or any other party against, or to inform any Company the Borrower or any other party of, any hazardous substances or any other adverse condition affecting the Real Property. The Bank will not be obligated to disclose to the 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 Bank. In each instance, the Bank will give the Borrower reasonable notice before entering the Real PropertyProperty or any other place the Bank is permitted to enter under this Paragraph. The Bank will make reasonable efforts to avoid interfering with the Borrower's use of the Real Property or any other property in exercising any rights provided in this Sectionparagraph.
Appears in 1 contract
Samples: Credit Agreement (FFP Partners L P)
Site Visits, Observations and Testing. The At its expense until the occurrence of an Event of Default, Bank and its agents and representatives will shall have the right at any reasonable time the Bank reasonably believes any environmental problem exists on any Real Property, and upon not less than three Banking Day's prior reasonable notice to Borrower, to enter and visit the Real Property and any other place where any property is located for the purposes of observing the Real Property, taking and removing soil or groundwater samples, and conducting tests on any part of the Real Propertyproperty. Representatives Obligor, at its expense, shall have the right to observe the Bank, comment on testing and sampling protocols and to obtain splits of any samples taken by the Borrower may be presentBank. The Bank is under no duty, however, to visit or observe the Real Property property or to conduct tests, and any such acts by the Bank will shall be solely for the purposes of verifying Obligor's compliance with this agreement and protecting the Bank's security and preserving the Bank's rights under this Agreementsecurity. No site visit, observation or testing by the Bank will shall result in a waiver of any Potential Default or Default default of any Company or Obligor, impose any liability on Bank, or affect the Department's release of liability previously issued to the Bank except to the extent the Bank, its employees, contractors and/or agents are found to be legally responsible under federal, state or local environmental laws or for increased remediation costs to the Obligor as a result of gross negligence or willful misconduct that results in a deposit, release or exacerbation of Hazardous Substances onto or from the Property. In no event will shall any site visit, observation or testing by the Bank be a representation that hazardous substances Hazardous Substances are or are not present at, on, in, on under, above, around, or under that affect any portion of the Real Property, or that there has been or will shall be compliance with any law, regulation regulation, ordinance order, or ordinance agreement pertaining to hazardous substances Hazardous Substances or any other applicable governmental lawlaw or regulation. Neither any Company Obligor nor any other party is entitled to rely on any site visit, observation or testing by the Bank. The Bank owes no duty of care to protect any Company Obligor or any other party against, against or to inform any Company Obligor or any other party of, any hazardous substances Hazardous Dubstances or any other adverse condition affecting the Real Property. The However, Bank will not be obligated shall promptly provide Obligor, at Obligor's cost, a copy of all reports, studies, drafts, analysis and correspondence related to disclose to the Borrower or any other party any report or findings made as a result of, or in connection with, any site visit, observation sample or testing test taken by or on behalf of the Bank. In each instance, the Bank will shall give the Borrower reasonable notice before entering the Real Propertyproperty or any place which the Bank is permitted to enter under this section. The Bank will shall make reasonable efforts to avoid interfering with the Borrower's use of the Real Property or any other property in exercising any rights provided in this Sectionsection.
Appears in 1 contract
Samples: Environmental Compliance Agreement (Kaiser Ventures Inc)
Site Visits, Observations and Testing. The Bank and its agents and representatives will have the right at any reasonable time the Bank reasonably believes any environmental problem exists on any Real Property, and upon not less than three Banking Day's prior notice to Borrower, to enter and visit the Real Property and any other place where any property is located for the purposes of observing the Real Property, taking and removing soil or groundwater samples, and conducting tests on any part of the Real Property. Representatives of the Borrower may be present. The Bank is under no duty, however, to visit or observe the Real Property or to conduct tests, and any such acts by the Bank will be solely for the purposes of protecting the Bank's ’s security and preserving the Bank's ’s rights under this Agreement. No site visit, observation or testing by the Bank will result in a waiver of any Potential Default or Default default of any Company Borrower or impose any liability on the Bank. In no event will any site visit, observation or testing by the Bank be a representation that hazardous substances are or are not present in, on or under the Real Property, or that there has been or will be compliance with any law, regulation or ordinance pertaining to hazardous substances or any other applicable governmental law. Neither any Company Borrower nor any other party is entitled to rely on any site visit, observation or testing by the Bank. The Bank owes no duty of care to protect any Company Borrower or any other party against, or to inform any Company Borrower or any other party of, any hazardous substances or any other adverse condition affecting the Real Property. The Bank will not be obligated to disclose to the 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 Bank. In each instance, the Bank will give the Borrower reasonable notice before entering the Real PropertyProperty or any other place the Bank is permitted to enter under this paragraph. The Bank will make reasonable efforts to avoid interfering with the Borrower's ’s use of the Real Property or any other property in exercising any rights provided in this Sectionparagraph.
Appears in 1 contract
Site Visits, Observations and Testing. The To allow, and to cause Lessee to allow, Bank and its agents and representatives will have the right at any time the Bank reasonably believes any environmental problem exists on any Real Propertyreasonable time, and upon not less than three Banking Day's prior after giving reasonable notice to Borrower, to enter and visit the Real Property Collateral and any other place locations where any personal property collateral securing this Agreement is located located, for the purposes of observing the Real PropertyCollateral and any personal property collateral located thereon. During the continuance of an Event of Default, such purposes may also include taking and removing soil or groundwater environmental samples, and conducting tests on any part of the Real PropertyCollateral. Representatives Borrower shall, within ten days of the Borrower may be presentdate of written demand from Bank, reimburse Bank on demand for the reasonable costs (x) one such environmental investigation and testing during the term hereof, provided that no Event of Default has occurred and is continuing and (y) all such environmental investigations and testing at any time during the continuation of an Event of Default. The Bank will make reasonable efforts during any site visit, observation or testing conducted pursuant this Section 8.12 to avoid interfering with Borrower’s or any occupant’s use of the Collateral and the personal property collateral located thereon. Bank is under no duty, however, to visit or observe the Real Property Collateral or such personal property collateral or to conduct tests, and any such acts by the Bank will be solely for the purposes of protecting the Bank's security and preserving the Bank's rights under this Agreement. No site visit, observation or testing by the Bank will result in a waiver of any Potential Default or Default of any Company or impose any liability on the Bank. In no event will any site visit, observation or testing by the Bank be a representation that hazardous substances are or are not present in, on or under the Real Property, or that there has been or will be compliance with any law, regulation or ordinance pertaining to hazardous substances or any other applicable governmental law. Neither any Company nor any other party is entitled to rely on any site visit, observation or testing by the Bank. The Bank owes no duty of care to protect any Company or any other party against, or to inform any Company or any other party of, any hazardous substances or any other adverse condition affecting the Real Property. The Bank will not be obligated to disclose to the Borrower or any other party any report or findings made as a result ofthereof (“Environmental Report”)
(i) will result in a waiver of any Event of Default; (ii) impose any liability on Bank; or (iii) be a representation or warranty of any kind regarding the Collateral or any personal property collateral (including its condition or value or compliance with any laws) or the Environmental Report (including its accuracy or completeness). In the event Bank has a duty or obligation under applicable laws, regulations or other requirements to disclose an Environmental Report to Borrower or any other party, Borrower authorizes Bank to make such a disclosure. Bank may also disclose an Environmental Report to any regulatory authority, and to any other parties as necessary or appropriate in connection with, Bank’s reasonable judgment. Borrower further understands and agrees that any Environmental Report or other information regarding a site visit, observation or testing that is disclosed to Borrower by the Bank or its agents and representatives is to be evaluated (including any reporting or other disclosure obligations of Borrower) by Borrower without advice or assistance from Bank. In each instance, the Bank will give the Borrower reasonable notice before entering the Real Property. The Bank will make reasonable efforts to avoid interfering with the Borrower's use of the Real Property or any other property in exercising any rights provided in this Section.
Appears in 1 contract