Examples of Adverse environmental effect in a sentence
The term "Material Adverse Environmental Effect" is defined herein as (i) any further violations regarding matters set forth in the Xxxx Discharge Report, (ii) any violation of Environmental Laws, (iii) any Environmental Claim or penalty arising under Environmental Laws, or (iv) any Release of Hazardous Substances; resulting in Environmental Losses of Five Hundred Thousand and No/100 Dollars ($500,000.00) or more.
Except for matters set forth in the Environmental Reports: To Borrower's Knowledge, Borrower and the Project are in compliance with all applicable Environmental Laws except where the failure to comply with such laws is not reasonably likely to result in a Material Adverse Environmental Effect and there are no underground storage tanks at the Project.
To Borrower's Knowledge, there have been no past, and there are no present, Releases of any Hazardous Substance that are reasonably likely to form the basis of any Environmental Claim against Borrower, the Project or against any Person whose liability for any Environmental Claim Borrower has or may have retained or assumed either contractually or by operation of law, which Environmental Claim is reasonably likely to result in a Material Adverse Environmental Effect.
To Borrower's Knowledge, there is no threat of a Release of Hazardous Substances migrating to the Project which is reasonably likely to result in a Material Adverse Environmental Effect.