Environmental Enforcement Actions. Comply with, settle, or otherwise satisfy any Environmental Enforcement Action including, but not limited to, the payment of any funds or penalties imposed by any governmental authority and the payment of all amounts required to remove any lien or threat of lien on or affecting the Property; provided, however, that the Agent shall not be permitted to take any such action so long as (i) the Borrower, or any other Indemnitor, is exercising its rights under Section 6 of this Agreement, and (ii) no Event of Default has occurred and is continuing; and
Appears in 3 contracts
Sources: Loan Agreement (Cedar Realty Trust, Inc.), Loan Agreement (Cedar Shopping Centers Inc), Environmental Compliance and Indemnity Agreement (Cedar Shopping Centers Inc)
Environmental Enforcement Actions. Comply with, settle, or otherwise satisfy any Environmental Enforcement Action instituted by a governmental authority including, but not limited to, the payment of any funds fines or penalties imposed by any governmental authority and the payment of all amounts required to remove any lien or threat of lien on or affecting the Property; provided, however, that the Agent shall not be permitted to take any such action so long as (i) the Borrower, or any other Indemnitor, is exercising its rights under Section 6 of this Agreement, and (ii) no Event of Default has occurred and is continuing; and
Appears in 2 contracts
Sources: Environmental Compliance and Indemnity Agreement (Cedar Realty Trust, Inc.), Environmental Compliance and Indemnity Agreement (Wheeler Real Estate Investment Trust, Inc.)
Environmental Enforcement Actions. Comply with, settle, or otherwise satisfy any Environmental Enforcement Action including, but not limited to, the payment of any funds or penalties imposed by any governmental authority and the payment of all amounts required to remove any lien or threat of lien on or affecting the Property; provided, howeverif, that but only if, none of the Agent shall not be permitted Indemnitors has undertaken and is continuing to take any such action so long as (i) the Borrowerpursue efforts to comply with, settle, or otherwise satisfy any other Indemnitor, is exercising its rights under Section 6 of this Agreement, and (ii) no Event of Default has occurred and is continuingEnvironmental Enforcement Action in a manner reasonably satisfactory to Lender; and
Appears in 1 contract
Sources: Environmental Compliance and Indemnity Agreement (Praecis Pharmaceuticals Inc)