Common use of Notice of Environmental Matters Clause in Contracts

Notice of Environmental Matters. Lessee shall promptly provide to Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Environmental Violation or any Release on, at, under or from Leased Property, which violation or Release could reasonably be expected to require in excess of $5,000,000 in remediation costs, or which could result in the imposition of criminal penalties upon Lessor, any Agent or any Participant (any such claim, action or proceeding, a "MATERIAL ENVIRONMENTAL MATTER"). All such notices shall describe in reasonable detail the nature of the Material Environmental Matter and Lessee's proposed response thereto. In addition, Lessee shall provide to Lessor, within ten (10) Business Days of receipt, copies of all material written communications with any Governmental Authority relating to any such Material Environmental Matter. Lessee shall also promptly provide such detailed reports of any such Material Environmental Matter as may reasonably be requested by Lessor or the Administrative Agent. Upon completion of remedial action of such Material Environmental Matter by Lessee, Lessee shall cause to be prepared by an environmental consultant reasonably acceptable to Lessor and Administrative Agent a report describing the Material Environmental Matter and the actions taken by Lessee (or its agents) in response to such Material Environmental Matter, and a statement by the consultant that the Material Environmental Matter has been remedied in compliance in all material respects with applicable Environmental Law. Each such Material Environmental Matter shall be remedied prior to the Expiration Date unless the Leased Property has been or will be purchased by Lessee in accordance with Article XV or Article XVIII. Nothing in this Article XIV shall reduce or limit Lessee's obligations elsewhere in this Lease or under the Participation Agreement.

Appears in 2 contracts

Samples: Lease (Kansas City Power & Light Co), Kansas City Power & Light Co

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Notice of Environmental Matters. Lessee shall promptly provide to Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Environmental Violation or any Release on, at, under or from the Leased Property, which violation or Release could reasonably be expected to could, in Lessee’s reasonable judgment, require costs for Remediation in excess of $5,000,000 in remediation costs5,000,000, or which could result in the imposition of criminal penalties upon Lessor, any Administrative Agent or any Participant Lender (any such violation, claim, action action, proceeding or proceedingRelease, a "MATERIAL ENVIRONMENTAL MATTER"“Material Environmental Violation”). All such notices shall describe in reasonable detail the nature of the Material Environmental Matter Violation, including any claims, actions or proceedings in respect thereof, and Lessee's ’s proposed response thereto. In addition, Lessee shall provide to Lessor, within ten (10) Business Days of receipt, copies of all material significant written communications with any Governmental Authority relating to any such Material Environmental MatterViolation. Lessee shall also promptly provide such detailed reports of any such Material Environmental Matter Violations as may reasonably be requested by Lessor or the Administrative Agent. Upon completion of remedial action the Remediation of such Material Environmental Matter Violation by Lessee, Lessee shall cause to be prepared by an environmental consultant reasonably acceptable to Lessor and Administrative Agent a report describing the Material Environmental Matter Violation and the actions taken by Lessee (or its agents) in response to such Material Environmental MatterViolation, and a statement by the consultant that the Material Environmental Matter Violation has been remedied remediated in compliance in all material respects with applicable Environmental Law. Each The Remediation of each such Material Environmental Matter Violation shall be remedied completed prior to the Expiration Scheduled Termination Date unless the Leased Property has been or will be purchased by Lessee in accordance with Article XV Section 10.4 or Article XVIIISection 17.22. Nothing in this Article XIV 10 shall reduce or limit Lessee's ’s obligations elsewhere in this Lease or under the Participation AgreementLease.

Appears in 1 contract

Samples: Lease Agreement (Lennox International Inc)

Notice of Environmental Matters. Lessee shall promptly provide to Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Significant Environmental Violation or any Release on, at, under or from Leased Property, which violation or Release could reasonably be expected to require in excess of $5,000,000 in remediation costs, or which could result in the imposition of criminal penalties upon Lessor, any Agent or any Participant (any such claim, action or proceeding, a "MATERIAL ENVIRONMENTAL MATTER")Event. All such notices shall describe in reasonable detail the nature of the Material Significant Environmental Matter Event, including any Environmental Claims, actions or proceedings in respect thereof, and Lessee's Xxxxxx’s proposed response thereto. In addition, Lessee shall provide to LessorLessor and the Administrative Agent, within ten (10) Business Days of receipt, copies of all material written communications with any Governmental Authority relating to any such Material Significant Environmental MatterEvent. Lessee shall also promptly provide such detailed reports of any such Material Significant Environmental Matter Event as may reasonably be requested by Lessor or the Administrative Agent. Upon completion of remedial action of such Material with respect to a Significant Environmental Matter Event by LesseeXxxxxx, Lessee shall cause to be prepared by an environmental consultant professional reasonably acceptable to Lessor and Administrative Agent a report describing the Material Significant Environmental Matter Event and the actions taken by Lessee (or its agents) in response to such Material Significant Environmental MatterEvent, and a statement by the consultant professional that the Material Significant Environmental Matter Event has been remedied in compliance in all material respects with applicable Environmental Law. Each such Material Significant Environmental Matter Event shall be remedied prior to the Expiration Date unless (a) all, but not less than all, of the Leased Property has been or will be purchased by Lessee in accordance with Article XV or Article XVIII. Nothing in this Article XIV shall reduce or limit Lessee's ’s obligations elsewhere in this Lease or under the Participation Agreement.

Appears in 1 contract

Samples: Debt and Security Agreement

Notice of Environmental Matters. Agent Lessee shall promptly provide to Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Environmental Violation or any Release on, at, under or from Leased Propertyany Facility or the Equipment, which violation or Release could reasonably be expected to require in excess of $5,000,000 500,000 in remediation costs, or which could result in the imposition of criminal penalties upon Lessor, any Collateral Agent or any Participant Lender (any such violation, claim, action action, proceeding or proceedingRelease, a "MATERIAL ENVIRONMENTAL MATTER"“Material Environmental Violation”). All such notices shall describe in reasonable detail the nature of the Material Environmental Matter Violation, including any claims, actions or proceedings in respect thereof, and Lessee's Lessees’ proposed response thereto. In addition, Agent Lessee shall provide to Lessor, within ten (10) Business Days of receiptreceipt by any Lessee, copies of all material written communications with any Governmental Authority Agency relating to any such Material Environmental MatterViolation. Agent Lessee shall also promptly provide such detailed reports of any such Material Environmental Matter Violations as may reasonably be requested by Lessor or the Administrative Collateral Agent. Upon completion of remedial action of such Material Environmental Matter Violation by any Lessee, Agent Lessee shall cause to be prepared by an environmental consultant reasonably acceptable to Lessor Required Lenders and Administrative Collateral Agent a report describing the Material Environmental Matter Violation and the actions taken by Lessee (or its agents) Lessees in response to such Material Environmental MatterViolation, and a statement by the consultant that the Material Environmental Matter Violation has been remedied in compliance in all material respects with applicable Environmental Law. Each such Material Environmental Matter Violation shall be remedied prior to the Expiration Date unless the Leased Property Equipment has been or will be purchased by Lessee Lessees in accordance with Article XV or Article XVIII. Nothing in this Article XIV shall reduce or limit Lessee's Lessees’ obligations elsewhere in this Lease or under the Participation Agreement.

Appears in 1 contract

Samples: Master Lease (Mandalay Resort Group)

Notice of Environmental Matters. Lessee shall promptly provide to Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Significant Environmental Violation or any Release on, at, under or from Leased Property, which violation or Release could reasonably be expected to require in excess of $5,000,000 in remediation costs, or which could result in the imposition of criminal penalties upon Lessor, any Agent or any Participant (any such claim, action or proceeding, a "MATERIAL ENVIRONMENTAL MATTER")Event. All such notices shall describe in reasonable detail the nature of the Material Significant Environmental Matter Event, including any Environmental Claims, actions or proceedings in respect thereof, and Lessee's ’s proposed response thereto. In addition, Lessee shall provide to LessorLessor and the Administrative Agent, within ten (10) Business Days of receipt, copies of all material written communications with any Governmental Authority relating to any such Material Significant Environmental MatterEvent. Lessee shall also promptly provide such detailed reports of any such Material Significant Environmental Matter Event as may reasonably be requested by Lessor or the Administrative Agent. Upon completion of remedial action of such Material with respect to a Significant Environmental Matter Event by Lessee, Lessee shall cause to be prepared by an environmental consultant professional reasonably acceptable to Lessor and Administrative Agent a report describing the Material Significant Environmental Matter Event and the actions taken by Lessee (or its agents) in response to such Material Significant Environmental MatterEvent, and a statement by the consultant professional that the Material Significant Environmental Matter Event has been remedied in compliance in all material respects with applicable Environmental Law. Each such Material Significant Environmental Matter Event shall be remedied prior to the Expiration Date unless (a) all, but not less than all, of the Leased Property has been or will be purchased by Lessee in accordance with Article XV or Article XVIII. Nothing in this Article XIV shall reduce or limit Lessee's ’s obligations elsewhere in this Lease or under the Participation Agreement.

Appears in 1 contract

Samples: Debt and Security Agreement (Norfolk Southern Corp)

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Notice of Environmental Matters. Lessee shall promptly provide to Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Environmental Violation or any Release on, at, under or from the Leased Property, which violation or Release could reasonably be expected to could, in Lessee’s reasonable judgment, require costs for Remediation in excess of $5,000,000 in remediation costs5,000,000, or which could result in the imposition of criminal penalties upon Lessor, any Agent or any Participant Lessor (any such violation, claim, action action, proceeding or proceedingRelease, a "MATERIAL ENVIRONMENTAL MATTER"“Material Environmental Violation”). All such notices shall describe in reasonable detail the nature of the Material Environmental Matter Violation, including any claims, actions or proceedings in respect thereof, and Lessee's ’s proposed response thereto. In addition, Lessee shall provide to Lessor, within ten (10) Business Days of receipt, copies of all material significant written communications with any Governmental Authority relating to any such Material Environmental MatterViolation. Lessee shall also promptly provide such detailed reports of any such Material Environmental Matter Violations as may reasonably be requested by Lessor or the Administrative AgentLessor. Upon completion of remedial action the Remediation of such Material Environmental Matter Violation by Lessee, Lessee shall cause to be prepared by an environmental consultant reasonably acceptable to Lessor and Administrative Agent a report describing the Material Environmental Matter Violation and the actions taken by Lessee (or its agents) in response to such Material Environmental MatterViolation, and a statement by the consultant that the Material Environmental Matter Violation has been remedied remediated in compliance in all material respects with applicable Environmental Law. Each The Remediation of each such Material Environmental Matter Violation shall be remedied completed prior to the Expiration Scheduled Termination Date unless the Leased Property has been or will be purchased by Lessee in accordance with Article XV Section 10.4 or Article XVIIISection 17.22. Nothing in this Article XIV 10 shall reduce or limit Lessee's ’s obligations elsewhere in this Lease or under the Participation AgreementLease.

Appears in 1 contract

Samples: Amended and Restated Lease Agreement (Lennox International Inc)

Notice of Environmental Matters. Lessee shall promptly provide to Agent Lessor written notice of any pending or threatened claim, action or proceeding of which it has received written notice involving any Environmental Violation or any Release on, at, under or from Leased Propertythe Premises, of which claim, action or proceeding Lessee has received written notice or has knowledge and which violation or Release in the reasonable opinion of the Lessee and Agent Lessor (provided that if the parties are unable to agree, then Agent Lessor shall designate an environmental engineering firm reasonably acceptable to Lessee which shall make such determination, at Lessee's expense, which determination shall be binding upon the parties) could reasonably be expected to require in excess of Five Million Dollars ($5,000,000 5,000,000) in remediation costsresponse costs to remedy the same, or which could result in the imposition of criminal penalties upon Lessor, any Agent Lessor or any Participant (any such violation, claim, action action, proceeding or proceedingRelease, a "MATERIAL ENVIRONMENTAL MATTERMaterial Environmental Violation"). All such notices shall describe in reasonable detail the nature of the Material Environmental Matter Violation, including any claims, actions or proceedings in respect thereof, and Lessee's proposed response thereto. In addition, Lessee shall provide to Agent Lessor, within ten (10) Business Days of receipt, copies of all material written communications with any Governmental Authority relating to any such Material Environmental MatterViolation. Lessee shall also promptly provide such detailed reports of any such Material Environmental Matter Violations as may reasonably be requested by Lessor or the Administrative AgentAgent Lessor. Upon completion of remedial action of response actions with respect to such Material Environmental Matter Violation by Lessee, Lessee shall cause to be prepared by an environmental consultant reasonably acceptable to Agent Lessor and Administrative Agent a report describing the Material Environmental Matter Violation and the actions taken by Lessee (or its agents) in response to such Material Environmental MatterViolation, and a statement by the consultant that the Material Environmental Matter Violation has been remedied in compliance in all material respects with applicable Environmental Law. Each such Material Environmental Matter Violation shall be so remedied prior to the Expiration Date unless the Leased Property has Premises have been or will be purchased by Lessee (or its designee) in accordance with Article XV or Article XVIII. Nothing in this Article XIV shall reduce or limit Lessee's obligations elsewhere in this Lease or under the Participation Agreement.

Appears in 1 contract

Samples: Secures Future Advances (Adc Telecommunications Inc)

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