Examples of Associated Property in a sentence
Grantor will take all steps necessary to determine that no Hazardous Materials have been disposed of or otherwise released on or to the Property or Associated Property except in accordance with Environmental Laws.
If Grantor fails to provide same after ten (10) days’ notice, Beneficiary may order same, and Grantor grants to Beneficiary and its employees, agents, contractors and consultants access to the Property and the Associated Property and a license (which is coupled with an interest and irrevocable while this Mortgage is in effect) to perform such inspections and tests.
Grantor will not cause or permit the disposal or other release of any Hazardous Materials on or to the Property, or the Associated Property or any property adjoining the Property except in accordance with Environmental Laws and covenants and agrees to keep or cause the Property and the Associated Property to be kept free of any Hazardous Materials and to remove the same (or if removal is prohibited by law, to take whatever action is required by law) promptly upon discovery at its sole expense.
Upon Beneficiary’s reasonable request, at any time and from time to time during the existence of this Mortgage, Grantor will provide at Grantor’s sole expense an inspection or audit of the Property and the Associated Property from an engineering or consulting firm approved by Beneficiary, indicating the presence or absence of Hazardous Materials on the Property.
The “Associated Property” (as such term is hereinafter defined) is not in violation of any Applicable Environmental Laws for which Mortgagor or its predecessors in title to the Mortgaged Property would be responsible (to the best of Mortgagor’s knowledge with respect to Associated Property not owned or operated by Mortgagor).