Common use of Environmental Default Clause in Contracts

Environmental Default. Failure of any Borrower Party to comply with or perform when due any term, obligation, covenant or condition contained in any environmental agreement executed in connection with the Loan, and such failure continues for thirty (30) days after any Borrower Party becomes aware of such failure, whether by notice from Lender or otherwise.

Appears in 2 contracts

Sources: Business Loan Agreement (Farmland Partners Inc.), Business Loan Agreement (Farmland Partners Inc.)