Environmental Impairment. If any portion of the Property is determined to be “environmentally impaired” (as “environmentally impaired” is defined in California Code of Civil Procedure Section 726.5(e)(3)) or to be an “affected parcel” (as “affected parcel” is defined in California Code of Civil Procedure Section 726.5(e)(1)), then, without otherwise limiting or in any way affecting Administrative Agent’s or the trustee’s rights and remedies under the Security Instrument, Administrative Agent may elect to exercise its right under California Code of Civil Procedure Section 726.5(a) to (1) waive its lien on such environmentally impaired or affected parcel or portion of the Property and (2) exercise (i) the rights and remedies of an unsecured creditor, including reduction of its claim against Borrower to judgment, and (ii) any other rights and remedies permitted by law. For purposes of determining Administrative Agent’s right to proceed as an unsecured creditor under California Code of Civil Procedure Section 726.5(a), Borrower shall be deemed to have willfully permitted or acquiesced in a release or threatened release of hazardous materials, within the meaning of California Code of Civil Procedure Section 726.5(d)(1), if the release or threatened release of hazardous materials was knowingly or negligently caused or contributed to by any lessee, occupant or user of any portion of the Property and Borrower knew or should have known of the activity by such lessee, occupant or user which caused or contributed to the release or threatened release. All costs and expenses, including, without limitation, attorneys’ fees, incurred by Administrative Agent or any Lender in connection with any action commenced under this Section, including any action required by California Code of Civil Procedure Section 726.5(b) to determine the degree to which the Property is environmentally impaired, plus interest thereon at the default rate of interest set forth in the Note until paid, shall be added to the obligations secured by the Security Instrument and shall be due and payable to Lender upon its demand made at any time following the conclusion of such action.
Environmental Impairment. Subject to the terms and conditions of the Loan Agreement, Beneficiary may waive its lien against the Property or any portion thereof, whether fixtures or personal property, to the extent such property is found to be “environmentally impaired” or an “affected parcel” in accordance with California Code of Civil Procedure Section 726.5 and may exercise any and all rights and remedies of an unsecured creditor against Trustor and all of Trustor’s assets and property for the recovery of any deficiency and Environmental Costs (as hereinafter defined), including, but not limited to, seeking an attachment order under California Code of Civil Procedure Section 483.010. The term “Environmental Costs” shall mean any costs, damages, expenses, fees, penalties, fines, judgments, indemnification payments to third parties, and other out-of-pocket costs or expenses actually incurred or advanced by Beneficiary relating to the cleanup, remediation or other response action required by Environmental Laws or which Beneficiary believes necessary to protect the Property. As between Beneficiary and Trustor, for purposes of California Code of Civil Procedure Section 726.5, Trustor shall have the burden of proving that Trustor or any related party (or any Affiliate or agent of Trustor or any related party) was not in any way negligent in permitting the release or threatened release of Hazardous Substances. Trustor acknowledges and agrees that, subject to any term or provision contained herein or in the other Loan Documents, all judgments and awards entered against Trustor pursuant to this paragraph, paragraph (e) of Section 14.07 below, and all Environmental Costs, shall be exceptions to any nonrecourse or exculpatory provision of the Loan Documents, and Trustor shall be fully and personally liable for all judgments and awards entered against Trustor under this paragraph, paragraph (e) below, and Environmental Costs, and such liability shall not be limited to the original principal amount of the obligations secured by this Deed of Trust and Trustor’s obligations shall survive the foreclosure, deed in lieu of foreclosure, release, reconveyance or any other transfer of the Property or this Deed of Trust. For the purpose of any action brought under this Section or Section 14.07 below, Trustor waives the defense of laches and any applicable statute of limitations.
Environmental Impairment. The emission, discharge, seepage, separation, release or escape of any liquid, solid or gaseous substance, insofar as it has a pungent or contaminating or deteriorating or polluting effect in or on the soil, the air, the surface water or any water (course) whether underground or otherwise.
Environmental Impairment. Loss due to environmental impairment liability in limits and with deductibles reasonably acceptable to Landlord, but only if such insurance becomes more or less customarily required by prudent landlords of property similar to the Leased Property or any site assessment report for the Leased Property indicates that such insurance would be appropriate.
Environmental Impairment. If any portion of the Property is determined to be “environmentally impaired” (as “environmentally impaired” is defined in Nevada Revised Statutes Section 40.503), then, without otherwise limiting or in any way affecting the Lender’s or the Trustee’s (as defined in the Deed of Trust) rights and remedies under the Deed of Trust, the Lender may elect to exercise its right under Nevada Revised Statutes Section 40.512, to (1) waive its lien on such environmentally impaired portion of the Property and (2) exercise (i) the rights and remedies of an unsecured creditor, including reduction of its claim against the Borrower to judgment, and (ii) any other rights and remedies permitted by law. All costs and expenses, including, without limitation, attorneys’ fees, incurred by the Lender in connection with any action commenced under this Section, plus interest thereon at the default rate of interest set forth in the Note until paid shall be added to the obligations secured by the Deed of Trust and shall be due and payable to the Lender upon its demand made at any time following the conclusion of such action.
Environmental Impairment. Upon any Default under the Loan Documents, in addition to any other remedies provided in the Loan Documents and applicable law, Lender shall have the right to waive its lien against the Property or any portion thereof, whether fixtures or personal property, to the extent such property is found to be environmentally impaired in accordance with California Code of Civil Procedure Section 726.5 and to exercise any and all rights and remedies of an unsecured creditor against Borrower and all of Borrower’s assets and property for the recovery of any deficiency, including, but not limited to, seeking an attachment order pursuant to California Code of Civil Procedure Section 483.010. As between Lender and Borrower, for purposes of California Code of Civil Procedure Section 726.5, Borrower shall have the burden of proving that Borrower or any related party (or any affiliate or agent of Borrower or any related party) was not in any way negligent in permitting the release or threatened release of the Hazardous Substances. Borrower acknowledges and agrees that notwithstanding any term or provision contained herein or in the Loan Documents, all judgments and awards entered against Borrower under this Section and California Code of Civil Procedure Section 726.5 shall be exceptions to any non-recourse or exculpatory provisions of the Note, and Borrower shall be fully and personally liable for all such judgments and awards entered against Borrower.
Environmental Impairment. Any Claim to the extent of any Environmental Impairment to the Property which has not been removed or remedied in accordance with Applicable Law and which
Environmental Impairment. This section shall not cover the liability for loss or damage incurred by any third party in connection with any environmental impairment.
Environmental Impairment. To liability arising from:
Environmental Impairment a. Grantee shall comply with all federal, state and local environmental laws and regulations in its use of the Easement, including, but not limited to, the Resource Conservation and Recovery Act, as amended (RCRA), and the Comprehensive Environmental Response, Compensation, and Liability Act, as amended (CERCLA). Grantee shall not maintain a treatment, storage, transfer or disposal facility, or underground storage tank, as defined by RCRA, on or under the Easement. Grantee shall not release or suffer the release of oil or hazardous substances, as defined by CERCLA, on the Easement. Notwithstanding any other requirements in this contract, Grantee assumes all responsibility for the investigation and cleanup of such release occurring during the term hereof, and shall indemnify and defend the Grantors and its agents for all costs and claims, including consultant and attorney fees, arising in any manner out of such release or Grantee's failure to comply with environmental laws, regardless of whether such costs or claims are caused or contributed to by the negligence or alleged negligence of the Grantors, except to the extent such costs or claims are proximately caused by the Grantors' gross negligence or intentional misconduct.
