Common use of Environmental Monitoring Clause in Contracts

Environmental Monitoring. (a) Borrower shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against Borrower or the Property or any party occupying the Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) Borrower’s discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that could cause the Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the Property in connection with any Environmental Law or Hazardous Substance, and Borrower shall pay all reasonable attorneys’ fees and disbursements incurred by Lender in connection therewith.

Appears in 3 contracts

Samples: Loan Agreement (TNP Strategic Retail Trust, Inc.), Loan Agreement, Loan Agreement (World Wrestling Entertainmentinc)

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Environmental Monitoring. (a) Borrower Borrowers shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the any Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against any Borrower or the any Property or any party occupying the any Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) any Borrower’s 's discovery of any occurrence or condition on any real property adjoining or in the vicinity of the any Property that could cause the such Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower Borrowers shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the any Property in connection with any Environmental Law or Hazardous Substance, and Borrower Borrowers shall pay all reasonable attorneys' fees and disbursements incurred by Lender in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Humphrey Hospitality Trust Inc)

Environmental Monitoring. (a) Borrower Borrowers shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against any Borrower or the Property or any party occupying the Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) any Borrower’s 's discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that could cause the Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower Borrowers shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the Property in connection with any Environmental Law or Hazardous Substance, and Borrower Borrowers shall pay all reasonable attorneys' fees and disbursements incurred by Lender in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Reit I Inc)

Environmental Monitoring. (a) Borrower shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance (other than Cleaning Supplies) on, under, from or about the Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against Borrower or the Property or any party occupying the Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) Borrower’s discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that reasonably could cause the Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the Property in connection with any Environmental Law or Hazardous Substance, and Borrower shall pay all reasonable attorneys’ fees and disbursements incurred by Lender in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Corporate Property Associates 17 - Global INC)

Environmental Monitoring. (a1) Borrower Borrowers shall give prompt written notice to Lender of (i) any proceeding or written inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the any Property, (ii) all claims made or threatened in writing by any third party (including any Governmental Authority) against any Borrower or the any Property or any party occupying the any Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) any Borrower’s 's discovery of any occurrence or condition on any real property adjoining or in the vicinity of the any Property that could cause the such Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower Borrowers shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the any Property in connection with any Environmental Law or Hazardous Substance, and Borrower Borrowers shall pay all reasonable attorneys' fees and disbursements incurred by Lender in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Acadia Realty Trust)

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Environmental Monitoring. (a) Borrower Borrowers shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the any Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against any Borrower or the any Property or any party occupying the any Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) any Borrower’s discovery of any occurrence or condition on any real property adjoining or in the vicinity of the any Property that could cause the such Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower Borrowers shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the any Property in connection with any Environmental Law or Hazardous Substance, and Borrower Borrowers shall pay all reasonable attorneys’ fees and disbursements incurred by Lender in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Supertel Hospitality Inc)

Environmental Monitoring. (a) Borrower shall give prompt written notice to Lender of (i) any proceeding or inquiry by notice from any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the any Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against Borrower or the any Property or any party occupying the any Property relating to any loss or injury resulting from any Hazardous Substance, and (iii) Borrower’s 's discovery of any occurrence or condition on any real property adjoining or in the vicinity of the any Property that could cause the such Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Borrower shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the any Property in connection with any Environmental Law or Hazardous Substance, and Borrower shall pay all reasonable attorneys' fees and disbursements incurred by Lender in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Konover Property Trust Inc)

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