Common use of Environmental Event Clause in Contracts

Environmental Event. Any (a) receipt by the Borrower of any notice or claim from any Governmental Authority of any violation of any Environmental Law by the Borrower or of any action against the Borrower based upon nuisance, negligence or other tort theory alleging liability on the basis of improper generation, storage, disposal, removal, transportation or treatment of Hazardous Substances on, at or from the Project Location by Borrower; or (b) presence or release by the Borrower of Hazardous Substances at, from or upon any of the property described in clause (a) above that has resulted in any contamination or deterioration of any portion of such property or any other affected property resulting in a level of contamination greater than the levels permitted or established by any Governmental Authority having jurisdiction over the Borrower or any of such property. Environmental Laws. Any and all federal, foreign, state, local and other governmental statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, licenses, or other governmental restrictions relating to the environment or the release of any materials into the environment.