Designated Properties definition
Examples of Designated Properties in a sentence
The Borrower shall immediately notify the Bank should the Borrower become aware of any Hazardous Substance on any of the Designated Properties in violation of any Environmental Laws or any claim that any of the Designated Properties may be contaminated by any Hazardous Substance in violation of any Environmental Laws.
The Borrower shall, at its own cost and expense, be responsible for the cleanup of any Hazardous Substance caused, or knowingly permitted, by the Borrower or any of its Subsidiaries to be on any of the Designated Properties which is in violation of any Environmental Laws including any removal, containment and remedial actions in accordance with all applicable Environmental Laws.
Matters addressed in this Settlement Agreement also include the States’ claims for NRD including restoration and assessment costs relating to or in connection with the Designated Properties and the Sites except for the Alton, Beckemeyer, ▇▇▇▇▇▇ Springs Sites, and Separately Settled Matters.
Agreement, Debtors shall not further encumber the Designated Properties or their other interests therein and shall maintain such properties, including the improvements thereon and the fixtures thereto that are related to ongoing remediation activities in the condition that they exist as of the date of such execution, except to the extent that ongoing environmental actions require otherwise.
Debtors shall retain no ownership or other interest whatsoever in the Designated Properties (except to the extent provided in subparts (i), (ii) and (iii) above, and in subparagraphs 9(e) and (f) below).