Common use of No Liability for Clean Up of Hazardous Materials Clause in Contracts

No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any trust obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental liability or any liability under any other federal, state or local law, notwithstanding anything to the contrary herein contained, the Collateral Trustee reserves the right, instead of taking such action, either to immediately resign as Collateral Trustee (which resignation shall be immediately effective) or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Trustee’s actions or inactions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment.

No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Trustee is required requested to acquire title to to, or any interest in, an asset for any reason, or take any managerial or other action of any kind in regard thereto, in order to carry out any trust obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental liability or any liability under any other federal, state or local law, notwithstanding anything to the contrary herein contained, the Collateral Trustee shall not be required to acquire such title or interest therein and reserves the right, instead of taking such action, either to immediately resign as Collateral Trustee (which resignation shall be immediately effective) or to arrange for the transfer of the title title, interest or control of the asset to a court appointed receiver. The Collateral Trustee will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Trustee’s actions or inactions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment.

No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under the provisions of the Comprehensive Environmental Response Cleanup and Liability Act or any environmental laws similar Environmental Laws (collectively, “CERCLA”) or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental liability Environmental Liability or any liability under CERCLA or any other federal, state or local law, notwithstanding anything to the contrary herein contained, the Collateral Trustee reserves the right, instead of taking such action, either to immediately resign as Collateral Trustee (which resignation shall be immediately effective) or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee will not be liable to any Person for any environmental liability Environmental Liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Trustee’s actions or inactions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release the discharge, Release or threatened discharge or release Release of any hazardous materials Hazardous Materials into the environment.

No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under the provisions of the Comprehensive Environmental Response Cleanup and Liability Act or any environmental laws similar Environmental Laws (collectively, “CERCLA”) or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental liability Environmental Liability or any liability under CERCLA or any other federal, state or local law, notwithstanding anything to the contrary herein contained, the Collateral Trustee reserves the right, instead of taking such action, either to immediately resign as Collateral Trustee (which resignation shall be immediately effective) or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee will shall not be liable to any Person for any environmental liability Environmental Liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Trustee’s actions or inactions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release the discharge, Release or threatened discharge or release Release of any hazardous materials Hazardous Materials into the environment.

No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Agent or Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral Agent’s or Trustee’s sole discretion may cause the Collateral Agent or Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Agent or Trustee to incur, or be exposed to, any environmental liability or any liability under any other federal, state or local law, notwithstanding anything to the contrary herein contained, the Collateral Agent and Trustee reserves reserve the right, instead of taking such action, either to immediately resign as Collateral Trustee (which resignation shall be immediately effective) Agent or Trustee, as the case may be, or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee Agent will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state state, foreign or local law, rule or regulation by reason of the Collateral TrusteeAgent’s actions or inactions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environmentenvironment and shall be indemnified and held harmless by The Issuer against any such claims, liabilities or actions.

No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Trustee Agent (or the Trustee, if it is required to acquire title to an asset for any reason, or ) is required to take any managerial action of any kind in regard theretowith respect to the Collateral, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral Agent's or the Trustee’s 's sole discretion may cause the Collateral Agent or the Trustee to be considered an “"owner or operator” Operator" under any environmental laws the provisions of CERCLA, or otherwise cause the Collateral Agent or Trustee to incur, or be exposed to, any environmental liability or any incur liability under CERCLA or any other federal, state or local law, notwithstanding anything to the contrary herein contained, each of the Collateral Agent and the Trustee reserves the rightright to, instead of taking such action, either to immediately resign as Collateral Trustee (which resignation shall be immediately effective) or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Neither the Collateral Agent nor the Trustee will not shall be liable to the Issuer or any Project Company or any other Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Agent's or the Trustee’s 's actions or inactions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or the discharge, release or threatened discharge or release of any hazardous materials into the environment, except in each case to the extent such claims or contribution actions arise from the gross negligence, bad faith or willful misconduct on the part of the Collateral Agent or the Trustee.