Common use of Remedial Work Clause in Contracts

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 3 contracts

Samples: Guaranty and Contribution Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Pledge and Security Agreement (LaSalle Hotel Properties)

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Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Term Loan Agreement.

Appears in 3 contracts

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Pledge and Security Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (collectively the “Remedial Work”) is required (a) necessary under any Environmental Lawapplicable local, (b) state or Federal law or regulation, any judicial order, or by any judicial, arbitral governmental or administrative order, (c) in order to comply with any agreements affecting any of the Propertiesquasi-governmental entity or person because of, or (d) to maintain in connection with the violation of any of Environmental Laws or the Properties in a standard of environmental condition which prevents the current or future presence, or suspected presence, release or generation suspected release of a Hazardous Substance in or into the air, soil, ground, water, surface water, or soil vapor at, on, about, under or within the Premises, or any Hazardous Materials except portion thereof, Indemnitors shall have thirty (30) days after written demand for Permitted Hazardous Substances, Indemnitor shall perform performance thereof by Lender or cause to other party or governmental entity or agency (or such shorter period of time as may be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of required under any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreement, ) but subject to the requirements of Section 7 belowforce majeure, to commence to perform, or cause to be commenced, and thereafter diligently prosecute to completion, all such Remedial Work. All Remedial Work shall be conducted (i) performed by one or more contractors, approved in advance in writing by Lender, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved in advance in writing by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by IndemnitorIndemnitors, including, without limitation, the charges of the Remedial Work contractors such contractor and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLender’s reasonable attorneysreasonable fees and third party out-of-pocket costs incurred in connection with the monitoring or review of such Remedial Work. In the event Indemnitor should Indemnitors shall fail to commence timely commence, or cause to be commenced such commenced, or fail to diligently prosecute to completion the Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, performed and all costs and expenses thereof, or thereof incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be become immediately due and payable with interest thereon at the Default Rate set forth in the Loan Agreement until paid, and such amount shall be secured by the Mortgage. Without Lender’s prior written consent, Indemnitors shall not take any remedial action in response to any violation of any Environmental Laws or the presence of any Hazardous Substances on, under, or about the Premises, nor enter into any settlement agreement, consent decree or other compromise in respect to a violation of any Environmental Laws or any Hazardous Substances claim unless Indemnitors are so ordered by a court of competent jurisdiction or governmental agency, order, decree or judgment. Said consent may be withheld, without limitation, if Lender, in its reasonable judgment, determines that said remedial action, settlement, consent or compromise might impair the value of Lender’s security under the Mortgage; provided, however, that Lender’s prior consent shall not be necessary in the event that the violation of any Environmental Laws or the presence of any Hazardous Substances in, on, under or about the Premises either poses an immediate threat to the Administrative Agent health, safety or welfare of any individual or is of such nature that an immediate remedial response is necessary, and it is not possible to obtain Lender’s consent before taking such action, provided that in such event Indemnitors shall notify Lender as soon as practicable of any action so taken. Lender agrees not to withhold its consent, when such consent is required hereunder, if either (i) a particular remedial action is ordered by Indemnitor upon thirty a court of competent jurisdiction or any governmental agency having jurisdiction over the Premises; or (30ii) days after demand thereforIndemnitors establish to the reasonable satisfaction of Lender that there is no reasonable alternative to such remedial action that would result in materially less impairment of Lender’s security under the Mortgage. If Lender intends to exercise any of its remedies hereunder or under the Mortgage or any other documents guaranteeing or securing repayment of the Note, such payments or if Lender receives notice of, or has a reasonable factual basis to be disbursed believe that there is a release of any Hazardous Substances in or into the air, soil, ground, water, surface water or soil vapor at, on, about, under or within the Premises, or any portion thereof, or violation of any Environmental Laws, then Lender may obtain, at the cost and expense of Indemnitors, an environmental audit(s) of the Premises performed by the Administrative Agent in accordance with the Credit Agreementan environmental firm or firms selected by Lender.

Appears in 2 contracts

Samples: Environmental Indemnity Agreement (Inland Real Estate Income Trust, Inc.), Environmental Indemnity Agreement (Inland Real Estate Income Trust, Inc.)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (collectively, the “Remedial Work”) is required (a) reasonably necessary under any Requirements of Environmental LawLaws (defined below), Mortgagor shall within thirty (b30) days after written demand by any judicial, arbitral Mortgagee (or administrative order, (csuch shorter period of time as may be required under Requirements of Environmental Laws) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the Remedial Work pending resolution of any good faith contest regarding in compliance with the application, interpretation or validity of any applicable law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) performed by one or more contractors, selected by Mortgagor and approved in advance in writing by Mortgagee, which approval shall not be unreasonably withheld or delayed, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, (ii) pursuant to a detailed written plan for the Remedial Work selected by Mortgagor and approved in advance in writing by any Governmental Agency with a legal Mortgagee, which approval shall not be unreasonably withheld or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesdelayed. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Mortgagor including, without limitation, the charges of the Remedial Work contractors and contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksMortgagee’s reasonable attorneys’, architectsreasonable and/or consultants’ fees and costs incurred in connection with monitoring or review of such the Remedial Work. In the event Indemnitor should Mortgagor shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such the Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Mortgagee may, but shall not be required to, upon thirty (30) days’ prior written notice to Mortgagor, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable subject to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementprovisions of Sections 11.05 and 11.06 hereof.

Appears in 2 contracts

Samples: Mortgage, Security Agreement and Fixture Filing (Taubman Centers Inc), Mortgage, Security Agreement and Fixture Filing (Taubman Centers Inc)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal removal, or other remedial work (collectively the “Remedial Work”) is required (a) at the Premises under any Environmental Lawapplicable federal, (b) state, or local law or regulation, by any judicial, arbitral or administrative judicial order, (c) or by any governmental entity, or in order to comply with any agreements affecting any of the PropertiesPremises because of, or (d) to maintain in connection with, any of the Properties occurrence or event described in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous SubstancesParagraph 4 above, Indemnitor Borrower shall perform or cause to be performed the required Remedial Work in compliance with such Remedial Worklaw, regulation, order, or agreement; provided, however, that Indemnitor Borrower may withhold commencement of such Remedial Work pending resolution of any compliance pursuant to a good faith contest dispute regarding the application, interpretation or validity of any the law, regulation, order order, or agreement, subject to the requirements of Section 7 Paragraph 6 below. All required Remedial Work shall be conducted performed by one or more contractors, selected by Borrower and approved (isuch approval not to be unreasonably withheld or delayed) in advance in writing by Lender, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, selected by Borrower and approved (iisuch approval not to be unreasonably withheld or delayed) pursuant to a detailed written plan for the Remedial Work approved in advance in writing by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLender. All costs and expenses of such required Remedial Work shall be paid by Indemnitor, Borrower including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLender’s reasonable attorneysreasonable and paralegals’ fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should Borrower shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 Paragraph 4 above. All such Costs shall be due and payable to the Administrative Agent upon demand by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementLender.

Appears in 2 contracts

Samples: Environmental Indemnification Agreement (Prime Group Realty Trust), Environmental Indemnification Agreement (Prime Group Realty Trust)

Remedial Work. In the event Indemnitor shall perform any investigation or monitoring of site conditions or and any clean-up, containment, restoration, removal removal, treatment, stabilization, or other remedial work relating to the Known Contamination (collectively, the "Remedial Work") is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order at CEC to comply with any agreements affecting any of obtain the Properties, or (d) NFR Letter and at the HEC and ECEC to maintain any of the Properties in obtain a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Covenant Not to Xxx. Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the required Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 belowin compliance with all Environmental Laws. All required Remedial Work shall be conducted performed by one or more contractors, selected by Indemnitor and approved (isuch approval not to be unreasonably withheld or delayed) in advance in writing by Indemnitee, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, selected by Indemnitee and approved (iisuch approval not to be unreasonably withheld or delayed) pursuant to a detailed written plan for the Remedial Work approved in advance in writing by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesIndemnitor. All costs and expenses of such required Remedial Work shall be paid by Indemnitor, Indemnitor including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Indemnitee's reasonable consultant, attorney and paralegal fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Indemnitee may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 Paragraph 3 above. All such Costs shall be immediately due and payable to the Administrative Agent upon demand by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementIndemnitee.

Appears in 2 contracts

Samples: Remediation and Indemnification Agreement (Prime Group Realty Trust), Environmental Remediation and Indemnification Agreement (Prime Group Realty Trust)

Remedial Work. In If (i) any Environmental Activity undertaken by Tenant or Tenant's Agents results in contamination of the event any investigation Premises, Building, Property or monitoring of site conditions Project or any clean-upportion thereof, or the soil or groundwater thereunder, or (ii) any investigation, site monitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature ("Remedial Work") is required (a) under necessary or appropriate due to or in connection with Tenant's use or occupancy of the Premises, then, subject to Landlord's prior written approval and any Environmental Lawconditions imposed by Landlord, (b) by any judicialTenant shall promptly perform all Remedial Work, arbitral or administrative orderat Tenant's sole expense and without abatement of rent, (c) in order as is necessary to return the affected portion of the Premises, Building, Property and/or Project and the soil and groundwater to the condition existing prior to the introduction of the contaminating Hazardous Material and to otherwise comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement all applicable Environmental Laws. Landlord's approval of such Remedial Work pending resolution shall not be unreasonably withheld so long as such actions will not cause a material adverse effect on the Premises, Building, Property or Project after expiration of the Lease Term or any good faith contest regarding material adverse effect on the applicationPremises, interpretation Building, Property or validity of Project. Landlord shall also have the right to approve any law, regulation, order or agreement, subject and all contractors hired by Tenant to the requirements of Section 7 belowperform such Remedial Work. All such Remedial Work shall be conducted (i) performed in compliance with all applicable laws, ordinances and regulations and in such a diligent manner as to minimize any interference with the use and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out enjoyment of the Remedial Work as is then customarily maintained with respect to such activities Premises, Building, Property and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesProject. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Tenant including, without limitation, the charges of the Remedial Work contractors such contractor(s), and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs of the attorneys and consultants for Landlord incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 2 contracts

Samples: Maxam Gold Corp, Pegasus Solutions Inc

Remedial Work. In the event If any investigation or monitoring of site conditions or any clean-upcleanup, containment, restoration, removal or other remedial work remediation of Hazardous Substances (collectively, “Remedial Work”) is required (a) under any Applicable Laws, including any Environmental LawLaws, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any as a result of the Propertiesuse, handling, production, treatment, storage, transportation, release, discharge or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation disposal of any Hazardous Materials except for Permitted Hazardous SubstancesSubstances by any Tenant Party, Indemnitor then Tenant shall perform or cause to be performed the Remedial Work in compliance with Applicable Laws or, at Landlord’s option, Landlord may cause such Remedial Work; providedWork to be performed and Tenant shall reimburse Landlord for the costs thereof, however, that Indemnitor may withhold commencement plus a fee for Landlord’s oversight and coordination of such Remedial Work pending resolution equal to five percent (5%) of any good faith contest regarding the applicationits cost, interpretation or validity of any lawwithin thirty (30) days after Landlord’s request for payment, regulation, order or agreement, subject to the requirements of Section 7 belowtogether with reasonable supporting documentation. All Remedial Work performed by Tenant shall be conducted (i) performed by one or more contractors, selected by Tenant and approved in advance by Landlord, which approval shall not be unreasonably withheld, conditioned, or delayed, and under the supervision of a diligent consulting engineer selected by Tenant and timely fashion approved in advance in writing by a licensed environmental engineerLandlord, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal which approval shall not be unreasonably withheld, conditioned, or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesdelayed. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, Tenant including the charges of the Remedial Work contractors such contractor(s), and the consulting environmental engineer. Notwithstanding anything to the contrary in this Lease, any taxes or penalties assessed in connection with the if such Remedial Work is required because of Hazardous Substances that (i) are caused or permitted by Landlord or its agents, contractors, or employees, or (ii) existed prior to the Lease Commencement Date or the Phase II Commencement Date as applicable, Landlord shall perform the same at Landlord’s sole cost and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Workexpense. In addition to Tenant’s remedy expressly set forth in Section 6.2, if Landlord’s Remedial Work is not completed by the event Indemnitor should fail earlier of (x) one hundred eighty (180) days after receipt of permits from applicable governmental authorities to commence or cause to be commenced perform such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty y) two hundred seventy (30270) days after the Hazardous Substances are discovered, Tenant may, upon written notice to Indemnitor) mayLandlord, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementterminate this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Sweetgreen, Inc.), Lease Agreement (Sweetgreen, Inc.)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the “Remedial Work”) is required by any Legal Requirement, or by any Governmental Entity as a result of the actions of Tenant or any other Person (aother than Landlord, agents, servants, contractors, subcontractors or employees) occurring during the Term, Tenant shall within thirty (30) days after written demand for performance thereof by Landlord (or such shorter period of time as may be required under any Environmental LawLegal Requirement or material agreement), (b) by any judicialcommence to perform, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed commenced, and thereafter diligently prosecute to completion within such Remedial Work; providedperiod of time as may be required under any Legal Requirement or agreement with Tenant related thereto, however, that Indemnitor may withhold commencement of all such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to at Tenant’s sole expense in accordance with the requirements of Section 7 belowany applicable Legal Requirement or Governmental Entity, including any Environmental Law. All such Remedial Work shall be conducted (i) performed by one or more contractors, approved in advance in writing by Landlord, which approval shall not be unreasonably withheld or delayed, and under the supervision of a diligent and timely fashion consulting engineer approved in advance in writing by a licensed environmental engineerLandlord, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal which approval shall not be unreasonably withheld or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesdelayed. All costs and expenses of such Remedial Work shall be paid by IndemnitorTenant, including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLandlord’s actual, customary and reasonable attorneysreasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should Tenant shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail diligently to prosecute to completion, complete such Remedial WorkWork within the time required above, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Landlord may, but shall not be required to, cause such Remedial Work to be performed, performed and all reasonable costs and expenses thereof, or thereof incurred in connection therewith shall be Costs within paid by Tenant to Landlord promptly upon demand, together with interest at the meaning Default Rate from the date the same was expended and until paid. For the avoidance of Section 5 above. All such Costs doubt, Tenant shall not be due and payable required to perform any Remedial Work with respect to the Administrative Agent by Indemnitor upon thirty UST (30as defined in the Purchase Agreement) days after demand therefor, such payments or any other matter that resulted from actions of any Person occurring prior to be disbursed by the Administrative Agent in accordance with the Credit AgreementCommencement Date.

Appears in 1 contract

Samples: Lease Agreement (CAESARS ENTERTAINMENT Corp)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) Work is required (a) under any Requirements of Environmental LawLaws, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor Borrower shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the Remedial Work pending resolution of any good faith contest regarding in compliance with the application, interpretation or validity of any applicable law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work undertaken by Borrower or an Affiliate of Borrower shall be conducted (i) performed by one or more contractors, selected by Borrower and approved in advance in writing by Lender, in Lender’s reasonable discretion, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, selected by Borrower and approved in advance in writing by Lender, in Lender’s reasonable discretion. Notwithstanding the foregoing, in the event any Remedial Work on the Property is the obligation of a third party unaffiliated with Borrower and such Remedial Work is performed by such unaffiliated third party, Lender shall cooperate with Borrower in reviewing and approving any contractors or engineers performing Remedial Work on the Property (ii) pursuant which approval by Lender shall not be unreasonably withheld, conditioned or delayed), Borrower shall use commercially reasonable efforts to a detailed written plan for cause or ensure that an authorized and capable entity is undertaking the Remedial Work approved by any Governmental Agency and that such Remedial Work is performed on the Property in compliance with Requirements of Environmental Laws and in a legal or contractual right manner as is necessary to such approval, (iii) with such insurance coverage pertaining to liabilities arising out permit the operation of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit improvements to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received Property as contemplated by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLoan Documents. All costs and expenses of such Remedial Work shall be paid or cause to be paid by Indemnitor, Borrower including, without limitation, the charges of the Remedial Work contractors and contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLender’s reasonable attorneys’, architectsreasonable and/or consultants’ fees and costs incurred in connection with monitoring or review of such the Remedial Work. In the event Indemnitor should Borrower shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such the Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within subject to the meaning provisions of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit 12.13 of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Chesapeake Lodging Trust)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work ("Remedial Work") is required (a) under any Environmental Lawapplicable federal, state or local law or regulation or (b) by any judicial, arbitral arbitral, or administrative order, order or (c) in order to comply with any agreements affecting any of the Properties, Property or (d) to maintain any of the Properties Property in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted to adjacent property and otherwise is consistent with the prudent ownership of property of the character of the Property or (e) as a result of the existence of Hazardous SubstancesMaterials on the Property during or prior to Indemnitor's final completion of the Improvements and performance of all obligations of Indemnitor under the Development Agreement or (f) as a result of any activities on the Property during or prior to Indemnitor's final completion of the Improvements and performance of all obligations of Indemnitor under the Development Agreement which directly or indirectly result in the Property becoming contaminated with Hazardous Materials, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, provided that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 Paragraph 6 set forth below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to grant such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities activities, and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks Owner promptly upon receipt or preparation, copies of any and all reports, studies, analysesanalysis, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesProperty. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Owner's reasonable fees and costs incurred in connection with monitoring or review reviewing of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders Owner (following thirty ten (3010) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 paragraph 4 above. All such Costs costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) within ten days after the Owner's demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Consent and Agreement (Grand Court Lifestyles Inc)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the “Remedial Work”) is required by any applicable local, state or federal law or regulation, any judicial order, or by any governmental entity or person because of, or in connection with, the current or future presence, suspected presence, release or suspected release of a Hazardous Substance in or into the air, soil, groundwater, surface water or soil vapor at, on, about, under or within the Premises (aor any portion thereof), if such Remedial Work is the obligation of Tenant pursuant to this Article XVIII, Tenant shall within thirty (30) days after written demand for performance thereof by Landlord (or such shorter period of time as may be required under any Environmental Lawapplicable law, (b) by any judicialregulation, arbitral order or administrative orderagreement), (c) in order commence to comply with any agreements affecting any of the Propertiesperform, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed commenced, and thereafter diligently prosecute to completion within such Remedial Work; provided, however, that Indemnitor period of time as may withhold commencement of such Remedial Work pending resolution of be required under any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreement, subject to all such Remedial Work at Tenant’s sole expense in accordance with the requirements of Section 7 belowany applicable governmental authority or Environmental Law. All such Remedial Work shall be conducted (i) performed by one or more contractors, approved in advance in writing by Landlord, which approval shall not be unreasonably withheld, and under the supervision of a diligent and timely fashion consulting engineer approved in advance in writing by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLandlord. All costs and expenses of such Remedial Work shall be paid by IndemnitorTenant, including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLandlord’s actual, customary and reasonable attorneysreasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should Tenant shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail diligently to prosecute complete any such required Remedial Work required to completionbe undertaken by Tenant within the time required above, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Landlord may, but shall not be required to, cause such Remedial Work to be performed, performed and Tenant shall reimburse Landlord for all reasonable costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by of Landlord’s delivery of written documentation of the Administrative Agent in accordance with the Credit Agreementsame.

Appears in 1 contract

Samples: Casino Sublease Agreement (OCM HoldCo, LLC)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the “Remedial Work”) is required (a) to be undertaken under any Environmental Lawapplicable local, (b) state or federal law or regulation, any judicial order, or by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Propertiesgovernmental entity because of, or in connection with, the current or reasonably threatened future presence or release of a Hazardous Substance in or into the air, soil, groundwater, surface water or soil vapor at, on, about, under or within the Property (d) to maintain or any portion thereof), Mortgagor shall promptly after written demand for performance thereof by appropriate governmental authorities (or such shorter period of the Properties in a standard of environmental condition which prevents the release or generation of time as may be required under any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreementagreement or, subject if any applicable law, regulation, order or agreement expressly specifies a longer period of time, such longer period), commence and thereafter diligently prosecute to the requirements of Section 7 below. All completion, all such Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesWork. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial WorkMortgagor. In the event Indemnitor should Mortgagor shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, Work following the Administrative Agent following consent of the Required Lenders (following thirty (30) days Noteholder’ written notice to Indemnitor) Mortgagor of such alleged failure and adequate time for Mortgagor to correct such alleged failure, the Noteholder may, but shall not be required to, cause such Remedial Work to be performed, performed and all reasonable costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within become part of the meaning of Section 5 aboveindebtedness secured hereby. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.e)

Appears in 1 contract

Samples: Blackhawk Biofuels, LLC

Remedial Work. In the event If any investigation or monitoring of site conditions or any clean-upcleanup, containment, restoration, removal or other remedial work (collectively, the “Remedial Work”) is required (a) under any Environmental LawApplicable Laws, (b) by any judicial, arbitral or administrative judicial order, (c) or by any governmental entity, or in order to comply with any agreements agreement affecting the Property because of or in connection with any of the Propertiesoccurrence or event described in Section 3 above, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor Indemnitors shall perform or cause to be performed the Remedial Work in compliance with such Remedial WorkApplicable Laws, order or agreement; provided, however, that Indemnitor Indemnitors may withhold commencement of such Remedial Work pending resolution of any compliance pursuant to a good faith contest dispute regarding the application, interpretation or validity of any the law, regulation, order or agreement, subject to the requirements of Section 7 6 below. All Remedial Work shall be conducted (i) performed by one or more contractors, selected by Indemnitors and approved in advance by Lender, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, (ii) pursuant to a detailed written plan for the Remedial Work selected by Indemnitors and approved in advance by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of Lender. Indemnitors shall pay all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLender’s reasonable attorneysreasonable and paralegals’ fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should If Indemnitors fail to commence or cause to be commenced such Remedial Work, in a timely fashion, Work or fail to diligently to prosecute it to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within the meaning of Section 5 3 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) 10 days after written demand therefor, such payments to be disbursed therefor by the Administrative Agent in accordance with the Credit AgreementLender.

Appears in 1 contract

Samples: Environmental Indemnity Agreement (Secured Principal LLC)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-up------------- monitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the "Remedial Work'") is required of Landlord or Tenant by any applicable local, state or federal law or regulation, any judicial order, or by any governmental entity or person because of, or in connection with, the current at future presence, suspected presence, release or suspected release of a Hazardous Substance in of into the air, soil, groundwater, surface water or soil vapor at, on, about, under or within the Premises (aor any portion thereof), Tenant shall within thirty (30) days after written demand for performance thereof by Landlord (or such shorter period of time as may be required under any Environmental Lawapplicable law, (b) by any judicialregulation, arbitral order or administrative orderagreement), (c) in order commence to comply with any agreements affecting any of the Propertiesperform, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed commenced, and thereafter diligently prosecute to completion, within such Remedial Work; provided, however, that Indemnitor period of time as may withhold commencement of such Remedial Work pending resolution of be required under any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreement, subject to all such Remedial Work at Tenant's sole expense in accordance with the requirements of Section 7 belowany applicable governmental authority or Environmental Law. All Remedial Work shall be conducted (i) performed by one or more contractors, approved in advance in writing by Landlord and under the supervision of a diligent and timely fashion consulting engineer in advance in writing by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLandlord. All costs and expenses of such Remedial Work shall be paid by IndemnitorTenant as Additional Rent, including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Landlord's reasonable attorneys' fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should Tenant shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail diligently to prosecute to completioncomplete the Remedial Work within the time required above, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Landlord may, but shall not be required to, cause such Remedial Work to be performed, performed and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable paid by Tenant to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementLandlord as Additional Rent forthwith.

Appears in 1 contract

Samples: Indenture of Lease Agreement (Wells Real Estate Investment Trust Inc)

Remedial Work. In the event If any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removar;-restoration or other remedial work of any kind or nature (the "Remedial Work") is required (a) reasonably necessary or desirable, at any time during the term of this lease or subsequent to the expiration hereof or to the termination hereof or Lessee's right of possession hereunder, under any Environmental Lawapplicable federal, (b) state or local law, regulation or ordinance, or under any judicial or administrative order or judgment, or by any judicialgovernmental official, arbitral board, commission or administrative orderagency, (c) because of or in order connection with the presence, suspected presence, release or suspected release of a Hazardous Substance on, in or into the air, soil, groundwater, or surface water at, on, about, above, under, within or adjacent to comply with the Property, or any agreements affecting any portion thereof, as a result of Lessee's activities on or after the corrunencement of the Propertiesterm of this lease, Lessee shall, within thirty (30) days after written demand for performance by Lessor, or (d) to maintain within such shorter time as may be required under any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, ordinance, order or agreement, subject conunence or cause to the requirements of Section 7 belowbe cortimenced and thereafter diligently prosecute or cause to be diligently prosecuted to completion all such Remedial Work. All Remedial Work shall be conducted (i) performed by contractors approved in advance by Lessor and under the supervision of a diligent and timely fashion consulting engineer approved in advance by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLessor. All costs and expenses of such - of·-such Remedial Work shall be paid by IndemnitorWork, including, including without limitation, limitation the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable reasOtiable fees and costs incurred expenses of Lessor's counsel, and in connection with monitoring or review of such the Remedial Work. In the event Indemnitor should fail Work shall be paid by Lesse~. If Lessee fails to commence or cause diligently prosecute to be commenced completion such Remedial Work, such failure shall constitute a breach of this lease and lessor may proceed, at its option, as provided in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement25 hereinafter.

Appears in 1 contract

Samples: Agreement

Remedial Work. In the event that any investigation or monitoring of assessment, audit, inspection, investigation, work plan, site conditions or any monitoring, containment, clean-up, detoxification, decontamination, containment, restorationmitigation, removal removal, restoration or other remedial work of any kind or nature with respect to any Disposal of Hazardous Materials at the Security Property or any action to comply with applicable Environmental Law or any Licenses and Permits issued pursuant to any Environmental Law because of, or in connection with, a current or future violation of Environmental Laws or any Disposal (in each case, “Remedial Work”), Borrower shall commence such Remedial Work within the earlier of (i) is required thirty (a30) under any Environmental Lawdays after written demand by Lender, and (bii) by any judicial, arbitral or administrative order, (c) such shorter period of time as may be necessary in order to comply with any agreements affecting applicable Environmental Law or any of other notice or directive from any Governmental Authority (the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 belowPlan Deadline”). All Remedial Work shall be conducted (i) performed by qualified licensed contractors reasonably approved in a diligent and timely fashion advance by a licensed environmental engineer, (ii) Lender pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with plan which shall include the following: (A) a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out detailed description of the Remedial Work as is then customarily maintained with respect to such activities which will be performed, including any testing, investigative, demolition, removal and construction work and any disposal of Hazardous Materials, (ivB) only following receipt a description of all required permitsauthorizations, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or entitlements and other Licenses and Permits which need to be obtained from Governmental Authorities in order to accomplish the Remedial Work contracts Work, (C) a detailed itemized budget, breaking down hard costs and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All soft costs, for all anticipated entitlement, construction, repair and other costs and expenses of such required to complete the Remedial Work shall be paid by IndemnitorWork, including, without limitation, (D) a schedule for the charges performance of the Remedial Work contractors Work, which schedule shall identify in reasonable detail the projected dates for the achievement of major milestones in obtaining any necessary approvals and other Licenses and Permits from Governmental Authorities and the consulting completion of any construction and remediation work, and (E) the identity of the environmental engineer, any taxes or penalties assessed in connection with consultants and other contractors who will perform the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such (“Remedial WorkWork Plan”). In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail Borrower shall diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause all such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent completion in accordance with the Credit Agreement.such

Appears in 1 contract

Samples: Loan Agreement (Hines Real Estate Investment Trust Inc)

Remedial Work. In the event any All monitoring and investigation or monitoring of site conditions or any clean-upconditions, cleanup, containment, restorationremoval, removal restoration or other remedial work (“for the Project which is required by the Hazardous Materials Laws or requested by Lender pursuant to this Section 16.5 is hereinafter referred to as the "Remedial Work”) is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. ." All Remedial Work shall be conducted conducted: (i) in a diligent and timely fashion manner by licensed contractors acting under the supervision of a licensed consulting environmental engineer, engineer acceptable to Lender; (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency public or private agencies or persons with a the legal or contractual right to such approval, ; (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities activities; and (iv) only following receipt of all any required permits, licenses licenses, or approvals. The selection of the Remedial Work contractors and consulting environmental engineer, the contracts entered into with such parties, all disclosures to or agreements with any public or private agencies or parties relating to the Remedial Work and the written plan for the Remedial Work shall be subject to Lender's prior written approval. In addition, Indemnitor Borrower shall submit to the Banks Lender, promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information approvals prepared or received by Indemnitor Borrower in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesWork. All costs and expenses of such Remedial Work shall be paid by IndemnitorBorrower, including, without limitation, the charges cost of the Remedial Work contractors and the consulting and environmental engineerengineers, any taxes or and penalties assessed in connection with the Remedial Work and the Banks’ Lender's reasonable fees and costs incurred in connection with monitoring or review of such and reviewing the Remedial Work. In the event Indemnitor should If Borrower shall fail to commence or cause to be commenced such Remedial Work, in a timely fashion, manner or fail diligently to prosecute to completion, the completion of such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred by Lender in connection therewith therewith, together with interest thereon at the Default Rate, shall be Costs within the meaning of Section 5 above. All such Costs reimbursed by Borrower upon demand and shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed secured by the Administrative Agent in accordance with the Credit AgreementDeed of Trust.

Appears in 1 contract

Samples: Loan Agreement (Datron Systems Inc/De)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (“Remedial Work”the "REMEDIAL WORK") is required (a) to be undertaken under any Environmental Lawapplicable local, (b) state or federal law or regulation, any judicial order, or by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Propertiesgovernmental entity because of, or in connection with, the current or reasonably threatened future presence or release of a Hazardous Substance in or into the air, soil, ground water, surface water or soil vapor at, on, about, under or within the Real Property (d) to maintain or any portion thereof), Borrower shall promptly after written demand for performance thereof by appropriate governmental authorities (or such shorter period of the Properties in a standard of environmental condition which prevents the release or generation of time as may be required under any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreement), subject commence and thereafter diligently prosecute to the requirements of Section 7 belowcompletion, all such Remedial Work. All Remedial Work shall be conducted (i) performed by contractors selected by Borrower and approved in advance by the Majority Banks, and under the supervision of a diligent consulting engineer selected by Borrower and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, the Agent (iii) with such insurance coverage pertaining to liabilities arising out of which approval the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor Agent shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesnot unreasonably withhold). All costs and expenses of such Remedial Work shall be paid by Indemnitor, Borrower including, without limitationbut not limited to, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Agent's reasonable attorneys' fees and reasonable costs incurred in connection with its monitoring or review of such Remedial Work. In Notwithstanding the event Indemnitor should fail to commence or cause to be commenced such Remedial Workforegoing, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but Borrower shall not be required todeemed to have breached this SECTION 8.1.6 if (a) Borrower's noncompliance hereunder resulted from good faith error or innocent omission, cause (b) Borrower after obtaining knowledge of such Remedial Work to be performednoncompliance commences and diligently pursues a cure of such breach, and all costs (c) such noncompliance is cured within ninety (90) Business Days following Borrower's receipt of notice of such noncompliance from the Agent, any appropriate governmental authorities or otherwise and expenses thereofsuch noncompliance has not resulted in a material adverse effect on the Collateral or Borrower's business, financial condition or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementoperation.

Appears in 1 contract

Samples: Secured Loan Agreement (U S Restaurant Properties Master L P)

Remedial Work. In the event that any Hazardous Material (other than Mold Conditions) is discovered by Tenant within the Premises after the date of this Lease, Tenant shall promptly notify Landlord, and shall consult with Landlord concerning appropriate procedures to be followed. If any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or remediation of Hazardous Substances (other remedial work than Mold Conditions) (collectively, "Remedial Work") is required (a) under any Environmental Lawapplicable laws, (b) by any judicialordinances, arbitral or administrative order, (c) in order to comply with any agreements affecting any regulations and requirements as a result of the Propertieshandling, use, storage, treatment, transportation or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation disposal of any Hazardous Materials except for Permitted Hazardous SubstancesSubstances by Tenant, Indemnitor its agents, employees, contractors or invitees, then Tenant shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the Remedial Work pending resolution of any good faith contest regarding the applicationin compliance with applicable laws, interpretation or validity of any lawordinances, regulation, order or agreement, subject to the requirements of Section 7 belowregulations and requirements. All Remedial Work performed by Tenant shall be conducted (i) performed by one or more contractors, selected by Tenant and reasonably approved in advance in writing by Landlord, and under the supervision of a diligent consulting engineer selected by Tenant and timely fashion reasonably approved in advance in writing by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLandlord. All costs and expenses of such Remedial Work shall be paid by IndemnitorTenant, including, without limitation, the charges of the Remedial Work contractors and such contractor(s), the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work engineer and the Banks’ Landlord's reasonable attorneys' and experts' fees and costs incurred in connection with monitoring or review of such Remedial Work. In Notwithstanding any provision of this Lease to the event Indemnitor should fail contrary, Tenant shall have no obligation to commence perform any Remedial Work for any Hazardous Substances (other than Mold Conditions) located in any portion of the Premises prior to the applicable Lease Commencement Date for such Phase and that was not placed thereon or cause to be commenced such Remedial Work, in a timely fashion, therein or fail diligently to prosecute to completion, such Remedial Workdamaged or disturbed by Tenant or any of Tenant Party. For the avoidance of doubt, the Administrative Agent following consent inspection and remediation of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred Mold Conditions is set forth in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement30.6 below.

Appears in 1 contract

Samples: Office Lease (C3.ai, Inc.)

Remedial Work. In the event any investigation or monitoring of site ------------- conditions or any clean-up, containment, restoration, removal or other remedial work ("Remedial Work") is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks' reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders Majority Banks (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (American General Hospitality Corp)

Remedial Work. In the event If any investigation Remedial Work is reasonably necessary or monitoring desirable, Indemnitor shall commence and thereafter diligently prosecute to completion all such Remedial Work within such period of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is time as may be required (a) under any Environmental Law, Laws. Indemnitor's written proposal for any Remedial Work shall be provided to Lender in advance for Lender's review and approval which proposal shall include (bi) by the identity and biographical information with respect to any judicial, arbitral proposed contractor or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause engineer to be performed used with respect to such Remedial Work; provided, however, that Indemnitor may withhold commencement (ii) a description of the measures to be undertaken as a part of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as insure that value is then customarily maintained with respect to such activities the Mortgaged Property and that minimal disruption occurs as a result thereof to existing tenants at the Mortgaged Property and to the ongoing revenue from the Mortgaged Property, and (iviii) only following receipt such other information as Lender may reasonably request. Lender shall be provided a copy of all required permitsenvironmental reports prepared after discovery of the reasonable necessity to perform Remedial Work immediately upon receipt thereof by Indemnitor, licenses or approvalsand shall be copied on all correspondence with any Governmental Authority regarding the Hazardous Substances Contamination and/or the Remedial Work. In addition, Indemnitor shall submit provide Lender with periodic written status reports with respect to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating in form, detail and at a frequency reasonably acceptable to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ including Lender's reasonable attorneys' fees and costs actually incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all reasonable costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within become part of the meaning of Section 5 aboveIndebtedness (as defined in the Lien Instrument). All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand thereforENVIRONMENTAL INDEMNITY AGREEMENT XXXXX-XXXX XXXXXX, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.XXXXXXX 000000

Appears in 1 contract

Samples: Environmental Indemnity Agreement (Owens Realty Mortgage, Inc.)

Remedial Work. In If (i) any Environmental Activity undertaken by Tenant or Tenant's Agents results in contamination of the event any investigation Premises, Building, Property or monitoring of site conditions Project or any clean-upportion thereof, or the soil or groundwater thereunder, or (ii) any investigation, site monitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature ("Remedial Work") is required (a) under necessary or appropriate due to or in connection with Tenant's use or occupancy of the Premises, then, subject to Landlord's prior written approval and any Environmental Lawconditions imposed by Landlord, (b) by any judicialTenant shall promptly perform all Remedial Work, arbitral or administrative orderat Tenant's sole expense and without abatement of rent, (c) in order as is necessary to return the affected portion of the Premises, Building, Property and/or Project and the soil and groundwater to the condition existing prior to the introduction of the contaminating Hazardous Material and to otherwise comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement all applicable Environmental Laws. Landlord's approval of such Remedial Work pending resolution shall not be unreasonably withheld so long as such actions will not cause a material adverse effect on the Premises, Building, Property or Project after expiration of the Lease Term or any good faith contest regarding material adverse effect on the applicationPremises, interpretation Building, Property or validity of Project. Landlord shall also have the right to approve any law, regulation, order or agreement, subject and all contractors hired by Tenant to the requirements of Section 7 belowperform such Remedial Work. All such Remedial Work shall be conducted (i) performed in compliance with all applicable laws, ordinances and regulations and in such a diligent manner as to minimize any interference with the use and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out enjoyment of the Remedial Work as is then customarily maintained with respect to such activities Premiss, Building, Property and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesProject. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Tenant including, without limitation, the charges of the Remedial Work contractors such contractor(s), and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs of the attorneys and consultants for Landlord incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Lease Agreement (New Directions Manufacturing Inc)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other Borrower shall promptly perform all necessary remedial work (“Remedial Work”) is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order response to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation presence of any Hazardous Materials except for Permitted Hazardous SubstancesSubstances on the Property, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution any violation of any good faith contest regarding the applicationEnvironmental Laws, interpretation or validity of any law, regulation, order claims or agreement, subject to the requirements of Section 7 belowmade by any governmental agency or authority. All Remedial Work such work shall be conducted (i) in a diligent by licensed and timely fashion by a licensed environmental engineer, (ii) reputable contractors pursuant to a detailed written plan for the Remedial Work plans approved by any Governmental Agency with a legal the agency or contractual right to such approvalauthority in question (if applicable), under proper permits and licenses (iiiif applicable) with such insurance coverage pertaining to liabilities arising out as is customarily maintained by prudent property owners in similar situations. If the cost of the Remedial Work as is work exceeds $100,000, then customarily maintained with respect to such activities Lender shall have the right of prior approval over the environmental contractor and (iv) only following receipt of all required permitsplans, licenses which shall not be unreasonably withheld or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesdelayed. All costs and expenses of such Remedial Work the remedial work shall be promptly paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail Borrower fails to commence or cause to be commenced such Remedial Work, in a timely fashionundertake the remedial work, or fail diligently fails to prosecute to completioncomplete the same within a reasonable time period after the same is undertaken, such Remedial Work, the Administrative Agent following consent and if Lender is of the Required Lenders (following thirty (30) days written notice good faith opinion that Lender’s security in the Property is jeopardized thereby, then Lender shall have the right to Indemnitor) may, but shall not be required to, cause undertake or complete the remedial work itself. In such Remedial Work to be performed, and event all costs of Lender in doing so, including all fees and expenses thereofof environmental consultants, or incurred in connection therewith engineers, attorneys, accountants and other professional advisors, shall be Costs within become a part of the meaning of Section 5 above. All such Costs Loan described above and shall be due and payable to the Administrative Agent by from Indemnitor upon thirty (30) days after demand therefor, such payments to demand. Such amount shall be disbursed secured by the Administrative Agent Loan Documents, and failure to pay the same shall be an event of default under the Loan Documents. In the event any Hazardous Substances are removed from the Property, either by Borrower or Lender, the number assigned by the United States Environmental Protection Agency to such Hazardous Substances shall be solely in accordance with the Credit Agreementname of Borrower, and Borrower shall have any and all liability for such removed Hazardous Substances.

Appears in 1 contract

Samples: Environmental Indemnity Agreement (TNP Strategic Retail Trust, Inc.)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-upclean‑up, containment, restoration, removal or other remedial work (collectively, the “Remedial Work”) is required (a) reasonably necessary under any Requirements of Environmental LawLaws (defined below), Mortgagor shall within thirty (b30) days after written demand by any judicial, arbitral Mortgagee (or administrative order, (csuch shorter period of time as may be required under Requirements of Environmental Laws) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the Remedial Work pending resolution of any good faith contest regarding in compliance with the application, interpretation or validity of any applicable law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted performed by one or more contractors, selected by Mortgagor and approved in advance in writing by Mortgagee, which approval shall not be unreasonably withheld or delayed, and, if mandated by Requirements of Environmental Laws, under the supervision of a Licensed Site Remediation Professional (i) “LSRP”), selected by Mortgagor and approved in a diligent and timely fashion advance in writing by a licensed environmental engineerMortgagee, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal which approval shall not be unreasonably withheld or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesdelayed. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Mortgagor including, without limitation, the charges of the Remedial Work contractors contractor(s) and/or the LSRP, and the consulting environmental engineerMortgagee’s reasonable attorneys’, any taxes or penalties assessed in connection with the Remedial Work and the Banksarchitectsreasonable and/or consultants’ fees and costs incurred in connection with monitoring or review of such the Remedial Work. In the event Indemnitor should Mortgagor shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such the Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Mortgagee may, but shall not be required to, upon thirty (30) days’ prior written notice to Mortgagor, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable subject to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementprovisions of Sections 11.05 and 11.06 hereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Taubman Centers Inc)

Remedial Work. In the event If any investigation Remedial Work reasonably necessary or monitoring desirable, Indemnitor shall commence and thereafter diligently prosecute to completion all such Remedial Work within thirty (30) days after written demand by Lender for performance thereof (or such shorter period of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is time as may be required (a) under any Environmental Law, Laws). Indemnitor's written proposal for any Remedial Work shall be provided to Lender in advance for Lender's review and approval which proposal shall include (bi) by the identity and biographical information with respect to any judicial, arbitral proposed contractor or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause engineer to be performed used with respect to such Remedial Work; provided, however, that Indemnitor may withhold commencement (ii) a description of the measures to be undertaken as a part of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as insure that value is then customarily maintained with respect to such activities the Mortgaged Property and that minimal disruption occurs as a result thereof to existing tenants at the Mortgaged Property and to the ongoing revenue from the Mortgaged Property, and (iviii) only following receipt such other information as Lender may request. Lender shall be provided a copy of all required permitsEnvironmental Reports prepared after discovery of the reasonable necessity to perform Remedial Work immediately upon receipt thereof by Indemnitor, licenses or approvalsand shall be copied on all correspondence with any Governmental Authority regarding the Hazardous Substances Contamination and/or the Remedial Work. In addition, Indemnitor shall submit provide Lender with periodic written status reports with respect to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating in form, detail and at a frequency reasonably acceptable to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ including Lender's reasonable attorneys' fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all reasonable costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within become part of the meaning of Section 5 above. All such Costs shall be due and payable to Indebtedness (as defined in the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementMortgage).

Appears in 1 contract

Samples: Environmental Indemnity Agreement (Inland Real Estate Income Trust, Inc.)

Remedial Work. In the event If any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the “Remedial Work”) is required reasonably desirable (ain the case of an operation and maintenance program or similar monitoring or preventative programs) or necessary, both as determined by an independent environmental consultant selected by Lender under any Environmental Lawapplicable federal, (b) state or local law, regulation or ordinance, or under any judicial or administrative order or judgment, or by any judicialgovernmental person, arbitral board, commission or administrative orderagency, (c) because of or in order to comply connection with any agreements affecting any the current or future presence, suspected presence, release or suspected release of a Hazardous Substance into the Propertiesair, soil, groundwater, or surface water at, on, about, under or within the Premises or any portion thereof, Indemnitors shall within thirty (d30) to maintain any of days after written demand by Lender for the Properties in a standard of environmental condition which prevents the release performance (or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to within such shorter time as may be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any required under applicable law, regulation, ordinance, order or agreement), subject commence and thereafter diligently prosecute to completion all such Remedial Work to the requirements of Section 7 belowextent required by law. All Remedial Work shall be conducted performed by contractors approved in advance by Lender (iwhich approval in each case shall not be unreasonably withheld or delayed) and under the supervision of a consulting engineer approved in a diligent and timely fashion advance by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, (including without limitation, limitation the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs expenses of Lender’s counsel) incurred in connection with monitoring or review of such the Remedial WorkWork shall be paid by Indemnitors. In the event Indemnitor should If Indemnitors shall fail or neglect to timely commence or cause to be commenced such Remedial Work, in a timely fashioncommenced, or shall fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders Lender may (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, ) cause such Remedial Work to be performed, ; and all costs and expenses thereof, or incurred in connection therewith (including, without limitation, the reasonable fees and expenses of Lender’s counsel), shall be Costs within the meaning of Section 5 above. All such Costs paid by Indemnitors to Lender forthwith after demand and shall be due and payable paid to the Administrative Agent Lender by Indemnitor Indemnitors upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementdemand.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Glimcher Realty Trust)

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Remedial Work. In the event any investigation or monitoring of site ------------- conditions or any clean-up, containment, restoration, removal or other remedial work ("Remedial Work") is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 Paragraph 6 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks' reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders Majority Banks (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 paragraph 4 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Management Agreement (American General Hospitality Corp)

Remedial Work. In the event any investigation or monitoring of site ------------- conditions or any clean-up, containment, restoration, removal or other remedial work ("Remedial Work") is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks' reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Lasalle Hotel Properties)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in LASALLE HOTEL OPERATING PARTNERSHIP, L.P. ENVIRONMENTAL INDEMNIFICATION AGREEMENT connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Term Loan Agreement.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (LaSalle Hotel Properties)

Remedial Work. In the event If any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the “Remedial Work”) is required reasonably desirable (ain the case of an operation and maintenance program or similar monitoring or preventative programs) or necessary, both as determined by an independent environmental consultant selected by Lender under any Environmental Lawapplicable federal, (b) state or local law, regulation or ordinance, or under any judicial or administrative order or judgment, or by any judicialgovernmental person, arbitral board, commission or administrative orderagency, (c) because of or in order to comply connection with any agreements affecting any the current or future presence, suspected presence, release or suspected release of a Hazardous Substance into the Propertiesair, soil, groundwater, or surface water at, on, about, under or within the Premises or any portion thereof, Indemnitors shall within thirty (d30) to maintain any of days after written demand by Lender for the Properties in a standard of environmental condition which prevents the release performance (or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to within such shorter time as may be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any required under applicable law, regulation, ordinance, order or agreement), subject commence and thereafter diligently prosecute to completion all such Remedial Work to the requirements of Section 7 belowextent required by law. All Remedial Work shall be conducted performed by contractors approved in advance by Lender (iwhich approval in each case shall not be unreasonably withheld or delayed) and under the supervision of a consulting engineer approved in a diligent and timely fashion advance by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, (including without limitation, limitation the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs expenses of Lender’s counsel) incurred in connection with monitoring or review of such the Remedial WorkWork shall [ENVIRONMENTAL INDEMNIFICATION AGREEMENT] ING No. In the event Indemnitor should 28984 4 be paid by Indemnitors. If Indemnitors shall fail or neglect to timely commence or cause to be commenced such Remedial Work, in a timely fashioncommenced, or shall fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders Lender may (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, ) cause such Remedial Work to be performed, ; and all costs and expenses thereof, or incurred in connection therewith (including, without limitation, the reasonable fees and expenses of Lender’s counsel), shall be Costs within the meaning of Section 5 above. All such Costs paid by Indemnitors to Lender forthwith after demand and shall be due and payable paid to the Administrative Agent Lender by Indemnitor Indemnitors upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementdemand.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Glimcher Realty Trust)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work ("Remedial Work") is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks' reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Lasalle Hotel Properties)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, cleanup, removal, restoration, removal precautionary actions or other remedial work of any kind or nature (the "Remedial Work") is required (a) under any applicable Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the PropertiesLaw as a result of, or (d) to maintain in connection with, any of Release, suspected Release, or threatened Release, the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, within thirty days after receipt of information that Indemnitor may withhold commencement of such Remedial Work pending resolution is or may be required (or such shorter period of any good faith contest regarding the application, interpretation or validity of any law, time as may be required under applicable law regulation, order or agreement), subject commence the performance of, or cause to be commenced, and thereafter diligently prosecute to completion, the requirements performance of Section 7 belowall such Remedial Work. All Remedial Work shall be conducted (i) performed by one or more contractors, approved in advance in writing by the the Majority Lenders, and under the supervision of a diligent and timely fashion consulting engineer approved in advance in writing by a licensed environmental engineerthe the Majority Lenders, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor which consent shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesnot be unreasonably withheld. All costs and expenses of such Remedial Work shall be paid by the Indemnitor, including, without limitation, the charges of the Remedial Work such contractors and and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable attorneys' fees and costs of the Lenders, the Issuing Banks (other than any Third Party Issuer), the LC Guarantor or the Agent, including, without limitation, fees and costs of both outside and staff counsel incurred in connection with monitoring or review of such Remedial Work. In the event the Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, the performance of such Remedial Work, the Administrative Agent following consent of the Required Majority Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, performed and all costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementdeemed claims hereunder.

Appears in 1 contract

Samples: Pledge Agreement (Presley Companies /De)

Remedial Work. In the event that any investigation or monitoring of investigation, site conditions or any clean-upmonitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (the “Remedial Work”) is required (a) to be undertaken under any Environmental Lawapplicable local, (b) state or federal law or regulation, any judicial order, or by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Propertiesgovernmental entity because of, or in connection with, the current or reasonably threatened future presence or release of a Hazardous Substance in or into the air, soil, groundwater, surface water or soil vapor at, on, about, under or within the Property (d) to maintain or any portion thereof), Mortgagor shall promptly after written demand for performance thereof by appropriate governmental authorities or Lender (or such shorter period of the Properties in a standard of environmental condition which prevents the release or generation of time as may be required under any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreementagreement or, subject if any applicable law, regulation, order or agreement expressly specifies a longer period of time, such longer period), commence and thereafter diligently prosecute to the requirements of Section 7 belowcompletion, all such Remedial Work. All Remedial Work shall be conducted (i) performed by contractors selected by Mortgagor and approved in advance by Lender, and under the supervision of a diligent consulting engineer selected by Mortgagor and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Mortgagor including, without limitationbut not limited to, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the BanksLender’s reasonable attorneysreasonable fees and reasonable costs incurred in connection with its monitoring or review of such Remedial Work. In the event Indemnitor should Mortgagor shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent Work following consent of the Required Lenders (following thirty (30) days Lender’s written notice to Indemnitor) Mortgagor of such alleged failure and adequate time for Mortgagor to correct such alleged failure, Lender may, but shall not be required to, cause such Remedial Work to be performed, performed and all reasonable costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within become part of the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementindebtedness secured hereby.

Appears in 1 contract

Samples: Blackhawk Biofuels, LLC

Remedial Work. In the event If any investigation Remedial Work is reasonably necessary or monitoring desirable, Indemnitor shall commence and thereafter diligently prosecute to completion all such Remedial Work within such period of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is time as may be required (a) under any Environmental Law, Laws. Indemnitor's written proposal for any Remedial Work shall be provided to Lender in advance for Lender's review and approval which proposal shall include (bi) by the identity and biographical information with respect to any judicial, arbitral proposed contractor or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause engineer to be performed used with respect to such Remedial Work; provided, however, that Indemnitor may withhold commencement (ii) a description of the measures to be undertaken as a part of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as insure that value is then customarily maintained with respect to such activities the Mortgaged Property and that minimal disruption occurs as a result thereof to existing tenants at the Mortgaged Property and to the ongoing revenue from the Mortgaged Property, and (iviii) only following receipt such other information as Lender may reasonably request. Lender shall be provided a copy of all required permitsenvironmental reports prepared after discovery of the reasonable necessity to perform Remedial Work immediately upon receipt thereof by Indemnitor, licenses or approvalsand shall be copied on all correspondence with any Governmental Authority regarding the Hazardous Substances Contamination and/or the Remedial Work. In addition, Indemnitor shall submit provide Lender with periodic written status reports with respect to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating in form, detail and at a frequency reasonably acceptable to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ including Lender's reasonable attorneys' fees and costs actually incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required to, cause such Remedial Work to be performed, and all reasonable costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within become part of the meaning of Section 5 aboveIndebtedness (as defined in the Lien Instrument). All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand thereforENVIRONMENTAL INDEMNITY AGREEMENT XXXXX-XXXX XXXXXX, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.XXXXXXX 000000 v.2

Appears in 1 contract

Samples: Environmental Indemnity Agreement (Owens Realty Mortgage, Inc.)

Remedial Work. In If any Hazardous Substance is released on, to, under or from the event Mortgaged Property (including any investigation migration to or monitoring from the Mortgaged Property), Indemnitor shall commence and thereafter diligently prosecute to completion (which shall be evidenced by a certificate of site conditions or any clean-up, containment, restoration, completion) all removal or other remedial work required under Environmental Law, by Governmental Authority or otherwise reasonably necessary to preserve the value of the Mortgaged Property ("Remedial Work") is within sixty (60) days after written demand by Lender (or such shorter period of time as may be required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 belowLaws). All Remedial Work shall be conducted (i) performed by contractors approved in advance by Lender and under the supervision of a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work consulting engineer approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesLender. All costs and expenses of such Remedial Work shall be promptly paid by IndemnitorIndemnitor when due, including, without limitation, the charges of the Remedial Work contractors all reasonable engineers’ and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banksattorneysreasonable fees and costs incurred by Lender in connection with monitoring or review of such any Remedial Work. In the event If Indemnitor should shall fail timely to commence commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail diligently to prosecute to completion, such any Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Lender may, but shall not be required toobligated, to cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within an obligation of Indemnitor to Lender, payable on demand, and shall become part of the meaning Indebtedness (as defined in the Deed of Section 5 aboveTrust). No component of the Remedial Work shall cause or result in any restriction or physical control being placed on the future use of the Mortgaged Property. All such Costs approvals by Lender required hereunder shall not be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand thereforunreasonably withheld, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreementconditioned or delayed.

Appears in 1 contract

Samples: Environmental Indemnity Agreement

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal removal, treatment, stabilization, or other remedial work (collectively, the "Remedial Work") is required (a) at the Properties under any Environmental LawLaws, (b) by any judicial, arbitral or administrative judicial order, (c) or by any governmental entity, in order to comply with any agreements affecting any of the PropertiesProperties because of, or (d) in connection with, any occurrence or event described in Paragraph 3 above, or in order to maintain any the marketability of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substancesby attaining certain cleanup standards, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the required Remedial Work pending resolution of any good faith contest regarding the applicationin compliance with such Environmental Laws, interpretation agreement or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 belowstandard. All required Remedial Work shall be conducted performed by one or more contractors, selected by Indemnitor and approved (isuch approval not to be unreasonably withheld or delayed) in advance in writing by Indemnitee, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, selected by Indemnitee and approved (iisuch approval not to be unreasonably withheld or delayed) pursuant to a detailed written plan for the Remedial Work approved in advance in writing by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesIndemnitor. All costs and expenses of such required Remedial Work shall be paid by Indemnitor, Indemnitor including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Indemnitee's reasonable consultant, attorney and paralegal fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Indemnitee may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 Paragraph 3 above. All such Costs shall be immediately due and payable to the Administrative Agent upon demand by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementIndemnitee.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Prime Group Realty Trust)

Remedial Work. In If (i) any Environmental Activity undertaken by Tenant or Tenant’s Agents results in contamination of the event any investigation or monitoring of site conditions Premises or any clean-upportion thereof, or the soil or groundwater thereunder, or (ii) any investigation, site monitoring, containment, restorationcleanup, removal removal, restoration or other remedial work of any kind or nature (“Remedial Work”) is required (a) under necessary or appropriate due to or in connection with Tenant’s use or occupancy of the Premises, then, subject to Landlord’s prior written approval and any Environmental Lawconditions imposed by Landlord, (b) by any judicialTenant shall promptly perform all Remedial Work, arbitral or administrative orderat Tenant’s sole expense and without abatement of rent, (c) in order as is necessary to return the affected portion of the Premises and the soil and groundwater to the condition existing prior to the introduction of the contaminating Hazardous Material and to otherwise comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement all applicable Environmental Laws. Landlord’s approval of such Remedial Work pending resolution shall not be unreasonably withheld so long as such actions will not cause a material adverse effect on the Premises during or after expiration of the Lease Term. Landlord shall also have the right to reasonably approve any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject and all contractors hired by Tenant to the requirements of Section 7 belowperform such Remedial Work. All such Remedial Work shall be conducted (i) performed in compliance with all applicable laws, ordinances and regulations and in such a diligent manner as to minimize any interference with the use and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out enjoyment of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the PropertiesPremises. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Tenant including, without limitation, the charges of the Remedial Work contractors such contractor(s), and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs of the attorneys and consultants for Landlord incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Teletech Holdings Inc)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (collectively the "Remedial Work") is required (a) at the Secured Property under any Environmental Lawapplicable federal, (b) state, or local law or regulation, by any judicial, arbitral or administrative judicial order, (c) or by any governmental entity, or in order to comply with any agreements affecting any of the PropertiesSecured Property because of, or (d) to maintain in connection with, any of the Properties occurrence or event described in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous SubstancesParagraph 4 above, Indemnitor shall perform or cause to be performed the required Remedial Work in compliance with such Remedial Worklaw, regulation, order, or agreement; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any compliance pursuant to a good faith contest dispute regarding the application, interpretation or validity of any the law, regulation, order order, or agreement, subject to the requirements of Section 7 Paragraph 6 below. All required Remedial Work shall be conducted performed by one or more contractors, selected by Indemnitor and approved (isuch approval not to be unreasonably withheld or delayed) in advance in writing by State Farm, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received selected by Indemnitor and approved (such approval not to be unreasonably withheld or delayed) in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesadvance in writing by State Farm. All costs and expenses of such required Remedial Work shall be paid by Indemnitor, Indemnitor including, without limitation, the charges of the Remedial Work contractors and such contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work engineer and the BanksState Farm’s reasonable attorneysreasonable and paralegals’ fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) State Farm may, but shall not be required to, cause such Remedial Work to be performed, performed and all costs and expenses thereof, thereof or incurred in connection therewith shall be Costs within the meaning of Section 5 Paragraph 4 above. All such Costs shall be due and payable to the Administrative Agent upon demand by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementState Farm.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (RREEF Property Trust, Inc.)

Remedial Work. In the event that any investigation or investigation, site monitoring of site conditions or any ------------- containment, clean-up, containmentremoval, restoration, removal precautionary actions or other remedial work of any kind or nature (the "Remedial Work") is required (a) under any Environmental Law------------- applicable Hazardous Substances Laws, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Propertiesas a result of, or (d) to maintain in connection with, any Release, suspected Release, or threatened Release by Tenant, Tenant shall, within 30 days after receipt of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, information that Indemnitor may withhold commencement of such Remedial Work pending resolution is or may be required (or such shorter period of any good faith contest regarding the application, interpretation or validity of any time as may be required under applicable law, regulation, order or agreement), subject commence the performance of, or cause to be commenced, and thereafter diligently prosecute to completion, the requirements performance of Section 7 belowall such Remedial Work. All Remedial Work shall be conducted (i) performed by one or more contractors, approved in advance, in writing, by Landlord, and under the supervision of a diligent and timely fashion consulting engineer approved in advance, in writing, by a licensed environmental engineerLandlord, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor which consent shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesnot be unreasonably withheld. All costs and expenses of such Remedial Work shall be paid by IndemnitorTenant, including, without limitation, the charges of the Remedial Work such contractors and and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Landlord's reasonable attorneys' fees and costs, including, without limitation, fees and costs of both outside and in-house counsel incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should Tenant shall fail to commence timely commence, or cause to be commenced commenced, or fail to diligently prosecute to completion, the performance of such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Landlord may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith therewith, shall be Costs within deemed Additional Rent due from Tenant under the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit AgreementLease.

Appears in 1 contract

Samples: Office Lease (Commnet Cellular Inc)

Remedial Work. In the event any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or other remedial work (“Remedial Work”) is required (a) under any Environmental Law, (b) by any judicial, arbitral or administrative order, (c) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) in a diligent and timely fashion by a licensed environmental engineer, (ii) pursuant to a detailed written plan for the Remedial Work approved by any Governmental Agency with a legal or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Properties. All costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Indemnitor should fail to commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) may, but shall not be required to, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Lasalle Hotel Properties)

Remedial Work. In Indemnitors acknowledge that, pursuant to the ------------- Mortgage, in the event that any investigation or monitoring of investigation, site conditions or any monitoring, containment, clean-up, containmentremoval, restoration, removal restoration or other remedial work of any kind or nature (the "Remedial Work") is required (a) under any Environmental Lawapplicable local, (b) state or federal law or regulation, any judicial order, or by any judicial, arbitral governmental entity or administrative order, (c) in order to comply with any agreements affecting any of the Propertiesperson because of, or in connection with, any past, present or future Disposal of a Hazardous Material in or about the air, soil, ground water, surface water or soil vapor at, on, about, under or within the Real Property (dor any portion thereof), Borrower is required to, within thirty (30) to maintain days after written demand for performance thereof by Beneficiary (or such shorter period of time as may be required under any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any applicable law, regulation, order or agreement), subject commence and thereafter diligently prosecute to completion, all such required Remedial Work. Indemnitors shall pay the requirements costs of Section 7 belowall consultants and environmental audits and follow-up reports required to satisfy the terms, conditions and covenants of the Mortgage and this Agreement. All Remedial Work shall be conducted (i) performed by qualified contractors approved in a diligent and timely fashion advance by a licensed environmental engineerBeneficiary, (ii) pursuant to a detailed written plan for the except in emergency situations where such approval cannot be sought before Remedial Work approved by any Governmental Agency with a legal or contractual right to is actually commenced, provided that such approval, approval is sought within two (iii2) with such insurance coverage pertaining to liabilities arising out Business Days (defined in Section 10 hereinbelow) of the hiring of such contractors, and under the supervision of a qualified consulting engineer approved in advance by Beneficiary, except in emergency situations where such approval cannot by sought before Remedial Work as is then customarily maintained with respect to actually commenced, provided that such activities and approval is sought within two (iv2) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any Business Days of the Propertieshiring of such consulting engineer. All Beneficiary's approval of such contractors and consulting engineer shall not be unreasonably withheld or delayed. The Mortgage further requires that all costs and expenses of such Remedial Work shall be paid by Indemnitor, Borrower including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ reasonable fees and costs Beneficiary's Attorney's Fees incurred in connection with investigation, monitoring or and/or review of such Remedial Work. In the event Indemnitor should Borrower shall fail to commence or cause timely prosecute to be commenced completion such Remedial Work, in a timely fashion, or fail diligently to prosecute to completion, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Beneficiary may, but shall not be required to, cause such Remedial Work to be performed, and Indemnitors shall jointly and severally pay pursuant to the indemnity provided in Section 2 of this Agreement (including the provisions regarding survival) all such costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 aboveupon demand. All Further, Beneficiary may, at its option, add all such Costs shall be due costs and payable expenses thereof, or incurred in connection therewith, to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by Indebtedness as defined in the Administrative Agent in accordance with Mortgage without affecting the Credit Agreementliability of Indemnitors hereunder.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Hanover Marriott Limited Partnership)

Remedial Work. In the event any investigation or monitoring ------------- of site conditions or any clean-up, containment, restoration, removal or other remedial work (collectively, the "Remedial Work") is required (a) reasonably necessary under any Requirements of Environmental LawLaws (defined below), Mortgagor shall within thirty (b30) days after written demand by any judicial, arbitral Mortgagee (or administrative order, (csuch shorter period of time as may be required under Requirements of Environmental Laws) in order to comply with any agreements affecting any of the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation of any Hazardous Materials except for Permitted Hazardous Substances, Indemnitor shall perform or cause to be performed such Remedial Work; provided, however, that Indemnitor may withhold commencement of such the Remedial Work pending resolution of any good faith contest regarding in compliance with the application, interpretation or validity of any applicable law, regulation, order or agreement, subject to the requirements of Section 7 below. All Remedial Work shall be conducted (i) performed by one or more contractors, selected by Mortgagor and approved in advance in writing by Mortgagee, which approval shall not be unreasonably withheld or delayed, and under the supervision of a diligent and timely fashion by a licensed environmental consulting engineer, (ii) pursuant to a detailed written plan for the Remedial Work selected by Mortgagor and approved in advance in writing by any Governmental Agency with a legal Mortgagee, which approval shall not be unreasonably withheld or contractual right to such approval, (iii) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Indemnitor in connection with any Remedial Work or Hazardous Materials relating to any of the Propertiesdelayed. All costs and expenses of such Remedial Work shall be paid by Indemnitor, Mortgagor including, without limitation, the charges of the Remedial Work contractors and contractor(s) and/or the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and the Banks’ Mortgagee's reasonable attorneys', architects' and/or consultants' fees and costs incurred in connection with monitoring or review of such the Remedial Work. In the event Indemnitor should Mortgagor shall fail to commence timely commence, or cause to be commenced such Remedial Work, in a timely fashioncommenced, or fail to diligently to prosecute to completion, such the Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Mortgagee may, but shall not be required to, upon thirty (30) days= prior written notice to Mortgagor, cause such Remedial Work to be performed, and all costs and expenses thereof, or incurred in connection therewith shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable subject to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent in accordance with the Credit Agreement.provisions of Sections 11.05 and 11.06 hereof. ----- -----

Appears in 1 contract

Samples: Mortgage, Security Agreement (Taubman Centers Inc)

Remedial Work. In the event If Mortgagee, acting in its sole and absolute ------------- discretion, determines that any investigation or monitoring of investigation, site conditions or any monitoring, environmental audit and risk assessment, containment, clean-up, containmentencapsulation, restorationremoval, removal restoration or other remedial work of any kind (any of the foregoing, "Remedial Work") is required (a) necessary or desirable in connection with either the known or suspected presence at, in, on, under or about the Mortgaged Property of any Hazardous Substance or the requirements of any Environmental Law or the suspected violation of any Environmental Law, (b) or if Mortgagee in its sole and absolute discretion determines that the Mortgaged Property or the validity, priority or enforceability of the lien of this Mortgage has been or may be impaired or in any way adversely affected by reason of any judicial, arbitral or administrative order, (c) in order failure to comply with any agreements affecting Environmental Law as the same pertains to the Mortgaged Property or any of other failure by Mortgagor fully to comply with any obligation imposed upon Mortgagor in this Section or the Properties, or (d) to maintain any of the Properties in a standard of environmental condition which prevents the release or generation inaccuracy of any Hazardous Materials except representation or warranty contained in this Mortgage, then Mortgagor shall, promptly, after written demand by Mortgagee for Permitted Hazardous Substancesperformance thereof, Indemnitor shall either (i) commence to perform or cause and thereafter diligently prosecute to be performed such completion the Remedial Work; providedor (ii) take such other action as Mortgagee may, howeverin its sole and absolute discretion, that Indemnitor may withhold commencement of such Remedial Work pending resolution of any good faith contest regarding the application, interpretation or validity of any law, regulation, order or agreement, subject to the requirements of Section 7 belowspecify. All Remedial Work shall be conducted performed by contractors working under the supervision of a consulting engineer (i) in the selection of each of the foregoing persons to be subject to the prior written consent of Mortgagee). For the purpose of making a diligent and timely fashion by a licensed environmental engineer, (ii) determination pursuant to a detailed written plan this Section, Mortgagee shall be entitled, at any time for the Remedial Work approved by any Governmental Agency cause, and at least once per year with a legal or contractual right without cause, in addition to such approvalall of Mortgagee's other rights and remedies under this Mortgage or applicable law, (iii) with such insurance coverage pertaining to liabilities arising out cause an environmental audit and risk assessment of the Remedial Work as is then customarily maintained with respect Mortgaged Property to such activities and (iv) only following receipt of all required permits, licenses or approvals. In addition, Indemnitor shall submit to the Banks promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal be conducted by an independent engineering firm or other Remedial Work contracts and similar information prepared or received environmental audit manager designated by Indemnitor Mortgagee. Mortgagor shall cooperate with Mortgagee in connection with any Remedial Work such audit or Hazardous Materials relating to any of the Properties. All assessment and shall pay all costs and expenses of such Remedial Work shall be paid by Indemnitor, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed incured in connection with the Remedial Work and the Banks’ reasonable fees and costs incurred in connection with monitoring or review of such Remedial Worktherewith. In the event Indemnitor should fail Mortgagor fails to timely commence or cause to be commenced such Remedial Work, in a timely fashion, or fail diligently to prosecute to completioncompletion any Remedial Work or other action required to be undertaken pursuant to this Section, such Remedial Work, the Administrative Agent following consent of the Required Lenders (following thirty (30) days written notice to Indemnitor) Mortgagee may, but shall not be required toto (and without any liability or obligation by Mortgagee to Mortgagor with respect thereto), cause such Remedial Work arrange for same to be performed. All costs and expenses incurred pursuant to, or with respect to the subject matter of, this Section shall be secured by this Mortgage and borne by Mortgagor, and all monies paid by Mortgagee and all costs and expenses thereof, or incurred by Mortgagee in connection therewith with this Section, together with interest thereon computed at the Involuntary Rate, shall be Costs within the meaning of Section 5 above. All such Costs shall be due and payable repaid to the Administrative Agent by Indemnitor upon thirty (30) days after demand therefor, such payments to be disbursed by the Administrative Agent Mortgagee in accordance with the Credit Agreementprovisions of this Mortgage and be secured by the lien of this Mortgage.

Appears in 1 contract

Samples: Consolidation Modification and Extension Agreement (Knickerbocker Village Inc)

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