Common use of Environmental Cleanup Clause in Contracts

Environmental Cleanup. In the event the Borrower or the Lender is or becomes obligated by any of the Environmental Laws or Governmental Requirements, or otherwise directed by any Governmental Authority, to clean up, remove or encapsulate, or cause the cleanup, removal or encapsulation of any Hazardous Material from the Premises, the Borrower (i) shall promptly undertake to arrange for such cleanup, removal and disposal in accordance with all applicable laws, rules, regulations and guidelines, (ii) shall exercise its best efforts to ensure that such cleanup and removal shall be conducted in a timely and diligent manner, and (iii) hereby expressly assumes the cost and expense of such cleanup, removal or encapsulation.

Environmental Cleanup. In the event the Borrower or the Lender is or becomes obligated by any of the Environmental Laws or Governmental Requirements, or otherwise directed by any Governmental Authority, to clean up, remove remove, or encapsulate, or cause the cleanup, removal removal, or encapsulation of any Hazardous Material from the Premises, the Borrower (i) shall promptly undertake to arrange for such cleanup, removal and disposal in accordance with all applicable laws, rules, regulations and guidelines, (ii) shall exercise its best efforts to ensure that such cleanup and removal shall be conducted in a timely and diligent manner, and (iii) hereby expressly assumes the cost and expense of such cleanup, removal or and/or encapsulation.