Common use of Compliance with Law; Environmental Compliance Clause in Contracts

Compliance with Law; Environmental Compliance. (a) Lessee, at Lessee’s expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. In the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) apprise Lessor, the Servicer and the Indenture Trustee of the status of such remediation plan and provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue to remain liable to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Law. Lessee shall keep Lessor regularly apprised of the status of such contest. In all events Lessee must pay any cost, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the Required Rating of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, Lessee and Lessor agree upon an Approved Environmental Consultant who shall, at Lessee’s sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee deposits with the Proceeds Trustee an amount equal to 125% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental Consultant.

Appears in 2 contracts

Samples: Lease Agreement (Vistra Energy Corp), Lease Agreement (Vistra Energy Corp)

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Compliance with Law; Environmental Compliance. (a) Lessee, at Lessee’s expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. Lessee shall not however, be responsible to take Remedial Action in connection with a Release caused solely by the active (but not passive) actions of Lessor or its employees, agents or contractors. In the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) periodically apprise Lessor, the Servicer and the Indenture Trustee Lessor of the status of such remediation plan and and, upon Lessor’s request, provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), ) and (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater better than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue to remain liable to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant diligently prosecute such plan, and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue Lessor shall provide access to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or allow Lessee to finish its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Lawremediation plan. Lessee shall keep Lessor regularly apprised of the status of such contest. In all events Lessee must pay any cost, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the does not have a Required Rating equal to or in excess of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, that Lessee and Lessor agree upon an Approved Environmental Consultant who shall, at Lessee’s sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are is likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee posts a letter of credit or other bond in a form reasonably acceptable to Lessor or deposits cash with the Proceeds Trustee an amount equal to 125110% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental Consultant.

Appears in 2 contracts

Samples: Lease Agreement (Cost Plus Inc/Ca/), Lease Agreement (Cost Plus Inc/Ca/)

Compliance with Law; Environmental Compliance. (a) Subject to Section 8.7 below, Lessee, at Lessee’s 's expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times times, with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s 's obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, Laws and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. In the event that Lessee is required or elects to enter into any plan relating to a Material material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) apprise Lessor, the Servicer and the Indenture Trustee Lessor of the status of such remediation plan and provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may shall notify Lessor promptly if (i) Lessee becomes aware of the presence or Release of any Hazardous Material at, on, under, emanating from, or migrating to, the Property in good faith contest any quantity or manner, which could reasonably be expected to violate in any material respect any Environmental Law or give rise to any Material liability or the applicability obligation to take Remedial Action or alleged liability other material obligations under any Environmental Law Law, or (ii) Lessee receives any written notice, claim, demand, request for information, or other communication from a Governmental Authority or a third party regarding the presence or Release of any Hazardous Material at, on, under, within, emanating from, or migrating to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior related to the expiration date Property which could reasonably be expected to violate- in any material respect any Environmental Law or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue give rise to remain liable any Material liability or obligation to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such take Remedial Action or in complying with such other material obligations under any Environmental Law. In connection with any actions undertaken pursuant to this Lease, Lessee shall keep Lessor regularly apprised of the status of such contest. In at all events Lessee must pay any cost, fine, penalty, assessment or times comply with all applicable Environmental Laws and with all other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the Required Rating of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, Lessee Applicable Laws and Lessor agree upon shall use an Approved Environmental Consultant who shall, at Lessee’s sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee deposits with the Proceeds Trustee an amount equal to 125% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with perform any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental ConsultantRemedial Action.

Appears in 1 contract

Samples: Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.)

Compliance with Law; Environmental Compliance. (a) Lessee, at Lessee’s 's expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s 's obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. In the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) periodically apprise Lessor, the Servicer Lessor and the Indenture Trustee Lender of the status of such remediation plan and and, upon Lessor or Lender's request, provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), ) and (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater better than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue to remain liable to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant diligently prosecute such plan, and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue Lessor shall provide access to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or allow Lessee to finish its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Lawremediation plan. Lessee shall keep Lessor regularly apprised of the status of such contest. In all events Lessee must pay any cost, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the does not have a Required Rating equal to or in excess of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, that Lessee and Lessor agree upon an Approved Environmental Consultant who shall, at Lessee’s 's sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are is likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee deposits with the Proceeds Trustee an amount equal to 125110% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental Consultant.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Inland Western Retail Real Estate Trust Inc)

Compliance with Law; Environmental Compliance. (a) Lessee, at Lessee’s expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. Lessee shall not, however, be responsible to take Remedial Action in connection with a Release caused solely by the active (but not passive) actions of Lessor or its employees, agents or contractors. In the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) periodically apprise Lessor, the Servicer and the Indenture Trustee Lessor of the status of such remediation plan and and, upon Lessor’s request, provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i8.6(c)(i), (ii), (iii), (iv), (v), (vi), ) and (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater better than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue to remain liable to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant diligently prosecute such plan, and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue Lessor shall provide access to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or allow Lessee to finish its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Lawremediation plan. Lessee shall keep Lessor regularly apprised of the status of such contest. In all events Lessee must pay any cost, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the does not have a Required Rating equal to or in excess of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, that Lessee and Lessor agree upon an Approved Environmental Consultant who shall, at Lessee’s sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are is likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee posts a letter of credit or other bond in a form reasonably acceptable to Lessor or deposits cash with the Proceeds Trustee an amount equal to 125110% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental Consultant.

Appears in 1 contract

Samples: Lease Agreement (Cost Plus Inc/Ca/)

Compliance with Law; Environmental Compliance. The term "Hazardous Substances" as used in this Sublease shall mean pollutants, contaminants, toxic or hazardous wastes, or any other substances, the use and/or the removal of which is regulated or the use of which is restricted, prohibited, or penalized by any "Environmental Law", which term shall mean any federal, state, or local law, ordinance or other statute of a governmental or quasi‑governmental authority relating to pollution or protection of the environment. Sublessee hereby agrees that (aA) Lesseeno activity will be conducted on the Leased Premises that will produce any mold, at Lessee’s expensemildew, shall complyfungus, mushrooms, yeast, or microbial growths containing mycotoxins, including but not limited to stachybotrys, penicillium, nemnoniella, altermevia, cladosporium, and shall cause its subtenants and other users aspergillus; (B) no activity will be conducted on the Premises that will produce any Hazardous Substance, except for such activities that are part of the Property to comply, ordinary course of Sublessee's business activities (the "Permitted Activities") provided said Permitted Activities are conducted in all material respects at all times accordance with all Applicable LawsEnvironmental Laws and have been approved in advance in writing by Sublessor; Sublessee shall be responsible for obtaining any required permits and paying any fees and providing any testing required by any governmental agency; (C) the Leased Premises will not be used in any manner for the storage of any Hazardous Substances except for the temporary storage of such materials that are used in the ordinary course of Sublessee's business (the "Permitted Materials") provided such Permitted Materials are properly stored in a manner and location meeting all Environmental Laws and approved in advance in writing by Sublessor; Sublessee shall be responsible for obtaining any required permits and paying any fees and providing any testing required by any governmental agency; (D) no portion of the Leased Premises will be used as a landfill or a dump; (E) Sublessee will not install any underground tanks of any type; (F) Sublessee will not allow any surface or subsurface conditions to exist or come into existence that constitute, including or with the passage of time may constitute a public or private nuisance; (G) Sublessee will not permit any Hazardous Substances to be brought onto the Leased Premises, except for the Permitted Materials described above, and if so brought or found located thereon, the same shall be immediately removed, with proper disposal, and all required cleanup procedures shall be diligently undertaken pursuant to all Environmental Laws. Such Sublessor or Sublessor's representative shall have the right but not the obligation to enter the Leased Premises for the purpose of inspecting the storage, use, and disposal of Permitted Materials to ensure compliance includeswith all applicable Environmental Laws. Should it be determined, without limitationin Sublessor's sole opinion, Lessee’s obligationthat said Permitted Materials are being improperly stored, at its expenseused, or disposed of, Sublessee shall immediately take such corrective action as requested by Sublessor. Should Sublessee fail to take Remedial Action when required by Applicable Laws such corrective action within one (in accordance 1) business day, Sublessor shall have the right to perform such work and Sublessee shall promptly reimburse Sublessor for any and all costs associated with Applicable Laws, and this Lease) whether such requirement is now said work. If at any time during or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. In after the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) apprise Lessor, the Servicer and the Indenture Trustee of the status of such remediation plan and provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination term of the Lease, and if not completed by the expiration date, Lessee will continue Leased Premises are found to remain liable be so contaminated or subject to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Law. Lessee shall keep Lessor regularly apprised any of the status of such contest. In all events Lessee must pay any costconditions prohibited above, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the Required Rating of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, Lessee Sublessee shall diligently institute proper and Lessor agree upon an Approved Environmental Consultant who shall, thorough cleanup procedures at Lessee’s Sublessee's sole cost and expense, prepare and Sublessee agrees to indemnify, defend, and hold Sublessor harmless from all claims, demands, actions, liabilities, costs, expenses, damages, and obligations of any nature arising from or as a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee deposits with the Proceeds Trustee an amount equal to 125% result of the cost estimated use of the Leased Premises by Sublessee. The foregoing indemnification and the Approved Environmental Consultant to comply with responsibilities of Sublessee shall survive the Environmental Law, Lessee may continue the contest, provided the other terms termination or expiration of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental ConsultantLease.

Appears in 1 contract

Samples: Sublease Agreement (Workiva LLC)

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Compliance with Law; Environmental Compliance. (a) Lessee, at Lessee’s 's expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s 's obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. In the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) apprise Lessor, the Servicer and the Indenture Trustee of the status of such remediation plan and provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue to remain liable to comply with such Law and at Lessor’s 's election shall (x) remain on the Property as a month-to-month tenant and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Law. Lessee shall keep Lessor regularly apprised of the status of such contest. In all events Lessee must pay any cost, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the Required Rating of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, Lessee and Lessor agree upon an Approved Environmental Consultant who shall, at Lessee’s 's sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee deposits with the Proceeds Trustee an amount equal to 125% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental Consultant.

Appears in 1 contract

Samples: Lease Agreement (Txu Corp /Tx/)

Compliance with Law; Environmental Compliance. (a) Subject to Section 1 below, Lessee, at Lessee’s 's expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times times, with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s 's obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, Laws and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. In the event that Lessee is required or elects to enter into any plan relating to a Material material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) apprise Lessor, the Servicer and the Indenture Trustee Lessor of the status of such remediation plan and provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may shall notify Lessor promptly if (i) Lessee becomes aware of the presence or Release of any Hazardous Material at, on, under, emanating from, or migrating to, the Property in good faith contest any quantity or manner, which could reasonably be expected to violate in any material respect any Environmental Law or give rise to any Material liability or the applicability obligation to take Remedial Action or alleged liability other material obligations under any Environmental Law Law, or (ii) Lessee receives any written notice, claim, demand, request for information, or other communication from a Governmental Authority or a third party regarding the presence or Release of any Hazardous Material at, on, under, within, emanating from, or migrating to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior related to the expiration date Property which could reasonably be expected to violate in any material respect any Environmental Law or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue give rise to remain liable any Material liability or obligation to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such take Remedial Action or in complying with such other material obligations under any Environmental Law. In connection with any actions undertaken pursuant to this Lease, Lessee shall keep Lessor regularly apprised of the status of such contest. In at all events Lessee must pay any cost, fine, penalty, assessment or times comply with all applicable Environmental Laws and with all other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the Required Rating of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, Lessee Applicable Laws and Lessor agree upon shall use an Approved Environmental Consultant who shall, at Lessee’s sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee deposits with the Proceeds Trustee an amount equal to 125% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with perform any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental ConsultantRemedial Action.

Appears in 1 contract

Samples: Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.)

Compliance with Law; Environmental Compliance. (a) Lessee, at Lessee’s expense, shall comply, and shall cause its subtenants and other users of the Property to comply, in all material respects at all times with all Applicable Laws, including Environmental Laws. Such compliance includes, without limitation, Lessee’s obligation, at its expense, to take Remedial Action when required by Applicable Laws (in accordance with Applicable Laws, and this Lease) whether such requirement is now or hereafter existing, currently known or unknown to Lessee and/or Lessor, as and when such requirements are known to Lessee. Lessee shall not however, be responsible to take Remedial Action in connection with a Release caused solely by the active (but not passive) actions of Lessor or its employees, agents or contractors. In the event that Lessee is required or elects to enter into any plan relating to a Material Remedial Action in connection with the Property with respect to any Environment Laws, Lessee shall on a quarterly basis (or more frequently if reasonably requested by Lessor) periodically apprise Lessor, the Servicer and the Indenture Trustee Lessor of the status of such remediation plan and and, upon Lessor’s request, provide copies of all correspondence, plans, proposals, contracts and other documents relating to such plan or proposed plan. Lessee may in good faith contest the applicability or alleged liability under any Environmental Law to the Property, provided (i) such contest will not result in a lien, encumbrance or judgment against the Property or Lessor, (ii) such contest satisfies the conditions set forth in subsections 8.6(i), (ii), (iii), (iv), (v), (vi), ) and (vii), (viii) and (ix) below, (iii) Lessee (or Guarantor) then has a Required Rating equal to or greater better than the Trigger Rating, and (iv) compliance with such Law will be satisfied as of the date which is six (6) months prior to the expiration date or earlier termination of the Lease, and if not completed by the expiration date, Lessee will continue to remain liable to comply with such Law and at Lessor’s election shall (x) remain on the Property as a month-to-month tenant diligently prosecute such plan, and otherwise in compliance with the Lease, until such time as the Law has been complied with and Final Governmental Approval for the Remedial Action has been obtained, (y) continue Lessor shall provide access to comply with such Law, but vacate the Property except to the extent necessary to comply (Lessee agreeing that Lessor may lease or sell the Property to another party) or (z) vacate the Property and pay Lessor or allow Lessee to finish its designee, from time to time, within 30 days of demand therefor, for the actual costs incurred by Lessor or such designee in connection with such Remedial Action or in complying with such Lawremediation plan. Lessee shall keep Lessor regularly apprised of the status of such contest. In all events Lessee must pay any cost, fine, penalty, assessment or other charge after the contest is either adversely decided or terminated voluntarily by Lessee or because it no longer has the right to contest pursuant to the terms of the Lease. In the event Guarantor (or Lessee if there is no Guarantor) falls below the does not have a Required Rating equal to or in excess of the Trigger Rating, Lessee may nonetheless continue to contest the applicability of any Environmental Law provided that, within thirty (30) days of falling below the Required Rating, that Lessee and Lessor agree upon an Approved Environmental Consultant who shall, at Lessee’s sole cost and expense, prepare a report within sixty (60) days of being retained, which report shall state the costs the Approved Environmental Consultant reasonably believes are is likely to be incurred by Lessee to comply with the Environmental Law in the event Lessee loses its contest. If, within thirty (30) days of receipt of said report, Lessee procures a letter of credit or other bonds in a form reasonably acceptable to Lessor or deposits cash with the Proceeds Trustee an amount equal to 125110% of the cost estimated by the Approved Environmental Consultant to comply with the Environmental Law, Lessee may continue the contest, provided the other terms of this Section 8.5 are met. In the event Lessee loses the contest and is forced to incur costs to comply with the Environmental Law, the Proceeds Trustee shall dispense the amount retained by it pursuant to this paragraph from time to time, in accordance with the provisions of Section 12.4 below, with any balance remaining thereafter to be disbursed to Lessee provided no Lease Event of Default then exists and is continuing. Lessor and Lessee shall reasonably cooperate in selecting the Approved Environmental Consultant.

Appears in 1 contract

Samples: Subground Lease Agreement (Cost Plus Inc/Ca/)

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