No Mortgaged Property is a Flood Hazard Property unless the Collateral Agent shall have received the following: (a) the applicable Domestic Credit Party's written acknowledgment of receipt of written notification from the Collateral Agent (i) as to the fact that such Mortgaged Property is a Flood Hazard Property and (ii) as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program and (b) copies of insurance policies or certificates of insurance of the applicable Domestic Credit Party evidencing flood insurance reasonably satisfactory to the Collateral Agent and naming the Collateral Agent as loss payee on behalf of the Secured Parties.
No Mortgaged Property no operations conducted (either prior to or after the acquisition thereof by Grantor), being conducted, or to be conducted thereon, and no transportation thereto or therefrom (either prior to or after the acquisition thereof by Grantor) (i) violated, violate, or will violate any applicable law, statute, ordinance, rule, regulation, permit, approval, authorization, variance, code, standard, guideline, decision, decree, ruling, or order of any Governmental Authority or any covenant, condition, or restriction (recorded or otherwise), including but not limited to all applicable Environmental Laws, all building, fire, and other safety codes, and all zoning ordinances and restrictions (including restrictions applicable to avalanche, earthquake, and flood zones) or (ii) are subject to any existing, pending, or threatened action, suit, investigation, inquiry, or proceeding by any Governmental Authority or nongovernmental Person under any Environmental Law or to any remedial obligations under any Environmental Law, except such (in either case) as is set forth on Schedule 3.20 of the Credit Agreement or as does not and will not have (as determined by Beneficiary after notice thereto) a Material Adverse Effect.
No Mortgaged Property is a Flood Hazard Property unless the Agent shall have received the following: (a) the applicable Credit Party’s written acknowledgment of receipt of written notification from the Agent (i) as to the fact that such Mortgaged Property is a Flood Hazard Property and (ii) as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program and (b) copies of insurance policies or certificates of insurance of the applicable Credit Party evidencing flood insurance reasonably satisfactory to the Agent and naming the Agent as loss payee on behalf of the Lenders.
