Presence of Hazardous Substances. Except as disclosed on Schedule 5.14, there are not present in, on or under the Premises any Hazardous Substances in such form or quantity as to create any material liability or obligation for either the Borrower or the Lender under the common law of any jurisdiction or under any Environmental Law, and no Hazardous Substances have ever been stored, buried, spilled, leaked, discharged, emitted or released in, on or under the Premises in such a way as to create any such material liability.
Presence of Hazardous Substances. Except as set forth on Disclosure Schedule 3.1(p) hereto, no Hazardous Substances are present or stored in the Assets or have migrated therefrom other than in material compliance with applicable laws. Any Hazardous Substances are stored in the containers in which they were delivered to SELLER or are otherwise stored in material compliance with applicable law and regulations.
Presence of Hazardous Substances. Lessor has notified Lessee that Hazardous Substances, specifically contaminated soils may be present in in and around the Premises from operations and activities occurring prior to the date the Lessor tenders possession of the Premises to Lessee (“Contaminated Media”) and may be encountered during ground disturbing activities, such as excavation, construction, repair and maintenance at the Premises. Investigations have been conducted of the Hazardous Substances present on the Premises, and the results of such investigations are summarized, among other documents, in the , 202 [Contaminated Media Management Plan, prepared for the Lessor by Xxxx Xxxxxx & Xxxxxx] (the “CMMP”). The CCMP affects the Premises together with certain adjacent real property (“Adjacent Real Property”). The summarized investigations are referred to collectively as the “Baseline Assessment”. Lessor has provided Lessee with a complete copy of the CMMP (included as Exhibit “E”). The parties acknowledge and agree that the Baseline Assessment establishes a presumption of the Contaminated Media condition of the Premises existing on and prior to the Effective Date. Prior to commencing its construction activities, Lessee, at Lessee’s sole cost, may conduct (but shall not be required to conduct) a further environmental review (including, without limitation, a Phase II Environmental Report) by an independent reputable professional environmental consultant, which review may include boring and soil and groundwater samples, provided, that, Lessee repairs any damage to the Premises caused thereby. Lessor hereby consents to such further environmental review. As long as Lessee provides Lessor with a complete copy of the report detailing such further environmental review prior to commencing its construction activities, such further environmental review shall be included in combination with the Baseline Assessment (“Supplemental Baseline Assessment”) as establishing the presumption of the Contaminated Media condition of the Premises existing as of the date of such report.
Presence of Hazardous Substances. In the event that at any point in -------------------------------- time the Premises and/or the Common Areas of the Building are determined to contain hazardous substances (as defined by Applicable Laws), Tenant shall have the right, by notice to Landlord, to require Landlord to remove, at Landlord's sole cost and expense, all such hazardous substances in accordance with the provisions of the Lease. Any delay incurred by Tenant in the design of its Work or its move-in into the Premises because of the presence of hazardous substances shall constitute a Landlord Delay.
Presence of Hazardous Substances. To Sellers’ knowledge, other than (i) Hazardous Substances used in the ordinary course of maintaining, operating and cleaning the Hotel in commercially reasonable amounts and in accordance with all Hazardous Waste Laws, (ii) Hazardous Substances used as fuels, lubricants or otherwise in connection with vehicles, machinery and equipment in commercially reasonable amounts and in accordance with all Hazardous Waste Laws, (iii) matters disclosed in the Environmental Reports, and (iv) matters disclosed in Exhibit “E”, no Hazardous Substances are, or have been during any period of the applicable Owner’s ownership of the applicable Hotel, present on, under or in the Improvements or Real Property in violation of any Hazardous Waste Laws. Sellers have provided to Purchaser true and complete copies of all environmental audits, reports, evaluations, assessments, studies or tests in its possession or control or which, to Sellers’ knowledge, exist relating to the Business and the Real Property or regarding compliance by the Business and its employees, agents or independent contractors with Environmental Protection Laws or its obligations as a lessee. To Sellers’ knowledge, none of the Real Property contains, and the Sunstone Entities have never caused or permitted the installation or use on any of the Real Property during the period of its ownership of the Hotel any (i) underground storage tanks, above-ground storage tanks, asbestos, asbestos-containing materials, polychlorinated biphenyls, solvents, toluene, or lead paint; (ii) underground injection xxxxx; (iii) radioactive materials; or (iv) septic tanks or waste disposal pits which process wastewater or any Hazardous Substances or the discharge or disposal of any Hazardous Substances on or in the Improvements or the Real Property.
Presence of Hazardous Substances. No Hazardous Substance which may require response or corrective action or remediation under any Environmental Law is present at, threatening, or emanating from any property presently owned or operated by the BHC Group, or was present at or emanating from any other property when previously owned or operated by the BHC Group;
Presence of Hazardous Substances. There do not exist any Hazardous Substances on the Property or any property contiguous to the Property;
Presence of Hazardous Substances. In the event that at any point in time the Premises and/or the Common Areas of the Building are determined to contain hazardous substances (as defined by Applicable Laws), Tenant shall have the right, by notice to Landlord, to require Landlord to remove, at Landlord's sole cost and expense, all such hazardous substances (as defined by Applicable Laws) within sixty (60) days following receipt of such notice. In the event the contamination of the Premises and/or the Common Areas of the Building is caused by Tenant, Tenant will be responsible for all costs of the remediation.
Presence of Hazardous Substances. In the event that at any time the Premises are determined to contain hazardous substances, SCB shall cease work and promptly notify Bank and Master Landlord, who shall determine, pursuant to the terms of the Master Lease and the Assignment, the procedure and cost allocation to remove, encapsulate, contain, or otherwise dispose of such hazardous substances.
Presence of Hazardous Substances. In the event that at the time the Premises are delivered to Lessee the Premises are determined to contain hazardous substances (as defined by applicable laws), Lessee shall have the right, by notice to Lessor, to require Lessor to remove, at Lessor’s sole cost and expense, all hazardous substances within sixty (60) days following receipt of such notice. If Lessor does not remove such hazardous substances within such time period, Lessee shall have the right to remove, encapsulate, contain, or otherwise dispose of such hazardous substances, and the actual, reasonable and documented cost incurred by Lessee in connection therewith (without markup for profit, overhead or administrative costs) shall be reimbursed by Lessor to Lessee within twenty (20) days after receipt by Lessor from Lessee of an invoice documenting and evidencing such actual, reasonable and documented costs. In addition, any actual reasonable and documented costs incurred by Lessee because of the presence of Hazardous Materials in the Building that would not have been incurred had the Building not contained Hazardous Materials (“H.M. Costs”) shall be reimbursed by Lessor to Lessee within twenty (20) days after receipt by Lessor from Lessee of an invoice documenting and evidencing such H.M.
