Common use of Environmental Event Clause in Contracts

Environmental Event. If Borrower or any of its Subsidiaries shall have entered into any consent or settlement decree or agreement or similar arrangement with a governmental authority or any judgment, order, decree or similar action shall have been entered against Borrower or any of its Subsidiaries, in each case based on or arising from the violation of or pursuant to any Environmental Law, or the generation, storage, transportation, treatment, disposal or Release of any Hazardous Material and, in connection with all the foregoing, Borrower and its Subsidiaries are likely to incur Environmental Liabilities and Costs which would have a Material Adverse Effect.

Environmental Event. If Borrower or any of its Subsidiaries ------------------- shall have entered into any consent or settlement decree or agreement or similar arrangement with a governmental authority or any judgment, order, decree or similar action shall have been entered against Borrower or any of its Subsidiaries, in each case based on or arising from the violation of or pursuant to any Environmental Law, or the generation, storage, transportation, treatment, disposal or Release of any Hazardous Material and, in connection with all the foregoing, Borrower and its Subsidiaries are likely to incur Environmental Liabilities and Costs which would have a Material Adverse Effect.