Common use of Environmental compliance Clause in Contracts

Environmental compliance. (a) The Borrower shall (and it shall ensure that the Project Owner will): (i) comply with all Environmental Laws; (ii) obtain, maintain and ensure compliance with all Environmental Permits required or desirable in connection with its respective business; and (iii) implement procedures to monitor compliance with and to prevent liability under any Environmental Law. (b) The Borrower shall (and it shall ensure that the Project Owner will) inform the Agent in writing promptly upon becoming aware of: (i) any Environmental Claim against it or any of them which is current, pending or threatened; or (ii) any facts or circumstances which will or might reasonably be expected to result in any Environmental Claim being commenced or threatened against it (or any of them).