Examples of Brownfields agreement in a sentence
The Brownfields Agreement will place obligations on Landlord and future owners and users with respect to the Park and will place land use restrictions (“LURs”) in the chain of title for the Park.
In furtherance of the aforesaid, MDLP shall promptly execute such documents as shall be necessary in order that the eligible remediation costs shall be transferred and/or assigned to the Applicable Component tenant under the Brownfields Agreement.
Notwithstanding anything to the contrary in this Lease, Tenant and the Tenant Related Parties shall comply with the LURs, and Tenant and all Tenant-Related Parties shall also comply with obligations in the Brownfields Agreement applicable to such parties, in each case so long as such LURs and Brownfields Agreement (i) do not materially interfere with Tenant’s business, or Tenant’s access to or use of the Leased Premises, nor (ii) result in any out-of-pocket expenses to Tenant.
MDLP and each Component Entity shall be entitled to reimbursement under the Brownfields Agreement for eligible remediation costs paid in connection with the development of the Applicable Component (such reimbursement to be paid to the applicable tenant or MDLP as to costs paid by the applicable tenant or MDLP).
Subject to the restrictions on the LURs and Brownfields Agreement above in this paragraph, neither Tenant nor any Tenant-Related Party shall seek any waiver or exemption from DEQ with respect to the LURs or any other provision in the Brownfields Agreement, without first acquiring written permission from Landlord regarding same, such permission to be in Landlord’s reasonable discretion.
MDLP shall provide its reasonable cooperation to obtain such reimbursement pursuant to the Brownfields Agreement, provided that the applicable tenant submits necessary documentation as required by the Brownfields Agreement and reimburses MDLP for any reasonable costs and expenses that MDLP may incur in connection with providing such cooperation.
If such efforts of Landlord are successful, Landlord shall enter into a Notice of Brownfields Property, a Brownfields Plat and a Brownfields Agreement (collectively and individually, each document referred to as the “Brownfields Agreement”) with the North Carolina Department of Environmental Quality (“DEQ”) pursuant to the Brownfields Act, and such documents shall be recorded in the Registry.
Landlord shall be responsible for remediating or removing any Hazardous Substances within the Building and the portions of the Park owned by Landlord that were present as of the Commencement Date, to the extent required by Environmental Laws, and for investigating, remediating and removing any Hazardous Substances identified in connection with Landlord’s entry into the Brownfields Agreement and any related documentation, unless created or introduced to the Property by Tenant.
Promptly after becoming aware thereof, Tenant agrees to give Landlord written notice of any violation of the LURs or the Brownfields Agreement by Tenant or any Tenant-Related Party.
The Partnership shall provide its reasonable cooperation to obtain such reimbursement pursuant to the Brownfields Agreement, provided that the applicable tenant submits necessary documentation as required by the Brownfields Agreement and reimburses the Partnership for any reasonable costs and expenses that the Partnership may incur in connection with providing such cooperation.