Common use of Environmental Inspection Clause in Contracts

Environmental Inspection. Not less than six months prior to the Maturity Date (unless Lessee has previously irrevocably exercised the Maturity Date Purchase Option), and not more than thirty Business Days prior to surrender of possession of a piece of Equipment, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor certifying that each piece of Equipment (i) does not contain Hazardous Substances under circumstances or in concentrations that would reasonably be expected to result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 2 contracts

Samples: Lease (Hanover Compression Inc), Credit Agreement (Hanover Compressor Co)

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Environmental Inspection. Not less than six 12 months prior to the Maturity Date (unless Lessee has have previously irrevocably exercised the Purchase Option, Maturity Date Purchase OptionOption or paid Termination Value with respect to each Property), and not more than thirty Business Days prior to surrender of possession of a piece of EquipmentProperty, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor certifying that each piece of Equipment Property or any portion thereof (i) does not contain Hazardous Substances Materials under circumstances or in concentrations that would reasonably be expected to could result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 2 contracts

Samples: Lease, Security Agreement and Financing Agreement (Quality Food Centers Inc), Lease, Security Agreement and Financing Agreement (Fred Meyer Inc)

Environmental Inspection. Not less than six months prior to the Maturity Date (unless Unless Lessee has previously ------------------------ irrevocably exercised the Maturity Date Purchase Option), not less than 12 months prior to the Maturity Date and not more than thirty Business Days prior to surrender of possession of a piece of Equipmentthe Property, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor and reasonably acceptable to Lessee certifying that each piece of Equipment the Property or any portion thereof (i) does not contain Hazardous Substances under circumstances or in concentrations that would reasonably be expected to could result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 1 contract

Samples: Lease (Ebay Inc)

Environmental Inspection. Not less than six 9 months prior to the Maturity Date (unless Lessee has previously irrevocably exercised the Maturity Date Purchase Option), and not more than thirty Business Days prior to surrender of possession of a piece of EquipmentProperty, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor certifying that each piece of Equipment Property or any portion thereof (i) does not contain Hazardous Substances under circumstances or in concentrations that would reasonably be expected to could result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 1 contract

Samples: Kindercare Learning Centers Inc /De

Environmental Inspection. Not less than six months prior to the Maturity Date (unless Unless Lessee has previously irrevocably exercised or is deemed to have elected to exercise the Purchase Option, the BI Purchase Option or the Maturity Date Purchase Option), and not more less than thirty Business Days twelve (12) months prior to surrender of possession of a piece of Equipmentthe Property, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor certifying that each piece of Equipment the Property or any portion thereof (i) does not contain Hazardous Substances under circumstances or in concentrations that would reasonably be expected to result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 1 contract

Samples: Lease (Genentech Inc)

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Environmental Inspection. Not less than six months prior to the ------------------------ Maturity Date (unless Lessee has previously irrevocably exercised the Maturity Date Purchase Option), and not more than thirty Business Days prior to surrender of possession of a piece of Equipment, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor certifying that each piece of Equipment (i) does not contain Hazardous Substances under circumstances or in concentrations that would reasonably be expected to result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 1 contract

Samples: Hanover Compressor Co /

Environmental Inspection. Not less than six 12 months prior to the Maturity Date (unless Lessee has previously irrevocably exercised the Maturity Date Purchase Option), and not more than thirty Business Days prior to surrender of possession of a piece of Equipmentthe Project, Lessor shall, at Lessee's sole cost and expense, obtain a report by an environmental consultant selected by Lessor (and reasonably acceptable to the Lessee and Issuer) certifying that each piece of Equipment that, in its professional judgment, the Project or any portion thereof (i) does not contain Hazardous Substances under circumstances or in concentrations that would reasonably be expected to could result in a violation of or liability under any Environmental Law and (ii) is in compliance with all Environmental Laws. If such is not the case on either such date, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2.

Appears in 1 contract

Samples: Lease (Farmland Industries Inc)

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