Common use of Outstanding Obligations Clause in Contracts

Outstanding Obligations. 20. All obligations of Debtors to perform work pursuant to any outstanding Consent Decree, Unilateral Administrative Order, Agreed Order, or Administrative Order on Consent regarding any of the Designated Properties or Sites, the Not Owned Portions of the Xxxxxx Springs Site, and the Other Arizona Sites (as defined below), and any statutory, stipulated, or other penalties allegedly due from Debtors as of February 1, 2009, are fully resolved and satisfied by this Settlement Agreement and Debtors shall be removed as a party to such orders or decrees pursuant to the terms hereof on the Effective Date (as defined in Subparagraph 9(a)); provided, however, that: (a) all requirements to retain records shall remain in full force and effect until the Effective Date (as defined in Subparagraph 9(a)), and that Debtors shall produce, or make available for production, in the state and condition in which such records are found any such records so retained to the United States or any State with respect to a Designated Property or Site as to which such State is a party to any order or consent decree; (b) with respect to the Xxxxxx Consent Decree, United States v. ASARCO, Inc. et al., No. 2:98CV0415B (D. Utah), the United States and ASARCO will file papers with the District Court for the District of Utah to modify the Consent Decree to conform to this Settlement Agreement and remove ASARCO as a party to the Consent Decree after the Effective Date; and (c) Debtors shall continue to perform work with respect to the Beckemeyer Designated Property, the Xxxxxx Site, and the unowned portions of the Globe Site until the Effective Date if Debtors are designated as the Performing Entity under the 2009 Annual Budget of the Prepetition ASARCO Environmental Trust at these properties to the extent funds are made available. A government agency may not impose any statutory, stipulated, or other penalties allegedly due from Debtors for Debtors’ conduct occurring between February 1, 2009 and the Effective Date with respect to the Designated Properties or Sites unless it has given notice to the Debtors, the Official Committee of Unsecured Creditors of ASARCO LLC, the Official Committee of Unsecured Creditors for the Subsidiary Debtors, and the Future Claims Representative of the terms of any potentially applicable statutory, stipulated, or other penalties prior to the date the Debtors’ allegedly actionable conduct occurred (except that no additional notice shall be required to enforce stipulated penalties in the amount of $200 per day for days 1 through 30, $1,000 per day for days 31 through 45, $2,500 per day for days 46 through 60, and $5,000 per day for each succeeding day thereafter that ASARCO fails to perform operation and maintenance of the water treatment plant and all systems that collect and route ground and surface water to the treatment plant, as well as, operation and maintenance of the groundwater monitoring system at the Globe Designated Property, nor is additional notice required to enforce the statutory civil penalty under Colo. Rev. Statutes 25-8-608 if ASARCO exceeds the limits in its water discharge permit for the effluent from the water treatment plant at the Globe Designated Property for not more than $10,000 per day for each day during which such violation occurs.). Moreover, if a government agency seeks to impose any such penalties, the amount of the penalty and circumstances under which it is imposed shall be negotiated before the penalty is applied.

Outstanding Obligations. 20. All obligations of Debtors to perform work pursuant to any outstanding Consent Decree, Unilateral Administrative Order, Agreed Order, or Administrative Order on Consent regarding any of the Designated Properties or Sites, the Not Owned Portions of the Xxxxxx Springs Site, and the Other Arizona Sites (as defined below), and any statutory, stipulated, or other penalties allegedly due from Debtors as of February 1, 2009, are fully resolved and satisfied by this Settlement Agreement and Debtors shall be removed as a party to such orders or decrees pursuant to the terms hereof on the Effective Date (as defined in Subparagraph 9(a)); provided, however, that: (a) all requirements to retain records shall remain in full force and effect until the Effective Date (as defined in Subparagraph 9(a)), and that Debtors shall produce, or make available for production, in the state and condition in which such records are found any such records so retained to the United States or any State with respect to a Designated Property or Site as to which such State is a party to any order or consent decree; (b) with respect to the Xxxxxx Consent Decree, United States v. ASARCO, Inc. et al., No. 2:98CV0415B (D. Utah), the United States and ASARCO will file papers with the District Court for the District of Utah to modify the Consent Decree to conform to this Settlement Agreement and remove ASARCO as a party to the Consent Decree after the Effective Date; and (c) Debtors shall continue to perform work with respect to the Beckemeyer Xxxxxxxxxx Designated Property, the Xxxxxx Site, and the unowned portions of the Globe Site until the Effective Date if Debtors are designated as the Performing Entity under the 2009 Annual Budget of the Prepetition ASARCO Environmental Trust at these properties to the extent funds are made available. A government agency may not impose any statutory, stipulated, or other penalties allegedly due from Debtors for Debtors’ conduct occurring between February 1, 2009 and the Effective Date with respect to the Designated Properties or Sites unless it has given notice to the Debtors, the Official Committee of Unsecured Creditors of ASARCO LLC, the Official Committee of Unsecured Creditors for the Subsidiary Debtors, and the Future Claims Representative of the terms of any potentially applicable statutory, stipulated, or other penalties prior to the date the Debtors’ allegedly actionable conduct occurred (except that no additional notice shall be required to enforce stipulated penalties in the amount of $200 per day for days 1 through 30, $1,000 per day for days 31 through 45, $2,500 per day for days 46 through 60, and $5,000 per day for each succeeding day thereafter that ASARCO fails to perform operation and maintenance of the water treatment plant and all systems that collect and route ground and surface water to the treatment plant, as well as, operation and maintenance of the groundwater monitoring system at the Globe Designated Property, nor is additional notice required to enforce the statutory civil penalty under Colo. Rev. Statutes 25-8-608 if ASARCO exceeds the limits in its water discharge permit for the effluent from the water treatment plant at the Globe Designated Property for not more than $10,000 per day for each day during which such violation occurs.). Moreover, if a government agency seeks to impose any such penalties, the amount of the penalty and circumstances under which it is imposed shall be negotiated before the penalty is applied.