Environmental Loss definition

Examples of Environmental Loss in a sentence

  • Accordingly, Borrower shall bear all risks and costs associated with any Environmental Loss, damage or liability therefrom, including all costs of removal of Hazardous Materials or other remediation required by the Administrative Agent or by law.

  • If the Indemnified Party shall become aware of any claim, proceeding or other matter (a "Claim") which may give rise to a Loss or Environmental Loss that will be taken into account for purposes of calculating whether the Indemnifying Party's indemnification obligation arises pursuant to Section 8.1(b) or Section 8.1(c) above or Section 8.2(a) or Section 8.3 below, the Indemnified Party shall promptly give notice thereof to the Indemnifying Party.

  • Accordingly, Borrower shall bear all risks and costs associated with any Environmental Loss, damage or liability therefrom, including all costs of removal of Hazardous Materials or other remediation required hereunder or by law.

  • Lessee shall fully and promptly pay, perform, discharge, defend, indemnify and hold harmless Lessor and its Affiliates, successors and assigns, directors, officers, employees and agents from and against any Environmental Claim or Environmental Loss.

  • Buyer may, at its cost and expense, participate in all discussions, negotiations or Proceedings with or before Governmental Authorities or third parties with respect to any such Environmental Loss.


More Definitions of Environmental Loss

Environmental Loss means any loss, cost, damage, liability, deficiency, fine, penalty or expense (including without limitation, reasonable attorneys' fees, engineering and other professional or expert fees), investigation, removal, cleanup and remedial costs (voluntarily or involuntarily incurred) and damages to, loss of the use of or decrease in value of the Equipment arising out of or related to any Adverse Environmental Condition. (h) "Person" shall include any individual, partnership, corporation, trust, unincorporated organization, government or department or agency thereof and any other entity. 5. Lessee shall fully and promptly pay, perform, discharge, defend, indemnify and hold harmless Lessor and its Affiliates, successors and assigns, directors, officers, employees and agents from and against any Environmental Claim or Environmental Loss. Defense and indemnification under this Section is conditioned upon Lessor giving Lessee timely written notice of any claim against which Lessor wishes to be indemnified hereunder (unless Lessee learns of any such claim from a third party, or unless Lessor does not learn of such claim until such time as Lessor, acting prudently on its own behalf, would be precluded from defending by applicable law or rules), and Lessor giving Lessee necessary and appropriate information and assistance in the defense of same. Lessee's obligation to pay or reimburse reasonable fees of counsel selected by Lessor to defend any such claim shall be conditioned upon Lessee's approval of such counsel, which approval shall not be unreasonably withheld or delayed. Lessor shall provide Lessee with periodic status reports on the defense or settlement of such claim, upon Lessee's reasonable request, and Lessor shall seek Lessee's consent to a proposed settlement of a claim. If Lessee does not consent a proposed settlement of a claim, it shall advise Lessor of its specific objections to the proposed settlement and shall identify with particularity the terms, if any, upon which it would consent to a settlement of the claim. If Lessor settles any such claim without Lessee's consent and Lessee objects to indemnifying Lessor for such settlement, then Lessor and Lessee agree to submit the question of the reasonableness of the settlement to binding arbitration. In such arbitration, the arbitrator shall be jointly selected by the parties (or, if they cannot agree on an arbitrator, one shall be selected according to the rules of the American Arbitration Association), an...
Environmental Loss means any Loss arising out of any Environmental Contamination or any Environmental Violation or a combination of both. Environmental Loss specifically includes all costs incurred to install new improvements or make repairs or alterations to prevent the continuation of any Environmental Contamination or to remedy noncompliance with any Environmental Law and, in the case of any Special Environmental Projects, shall include the reasonable hourly costs of Company facility personnel to the extent dedicated to Remediation Activities or other activity directly related to such Special Environmental Projects. Environmental Loss specifically does not include any Claim brought by a Person other than a Governmental Authority seeking damages, contribution, indemnification, cost recovery, penalties, compensation or injunctive relief resulting from the existence or release of, or exposure to, Hazardous Substances except where such Claim is brought as a citizen’s suit in which no monetary damages are sought for the account of such Person Notwithstanding the foregoing, any Loss under CERCLA or any comparable state Environmental Law that arises out of, is based on or is in connection with the disposal by Marathon or Ashland of Hazardous Substances at a location other than a property included in the Transferred Assets shall be treated as a Marathon Excluded Liability or an Ashland Excluded Liability, as the case may be. All Environmental Losses arising from the same event, condition or set of circumstances at a particular facility shall be considered as an individual Environmental Loss for purposes of determining the applicability of the Individual Threshold Amount.
Environmental Loss means, without limitation, all liabilities, losses, claims, debts, assessments, deficiencies, charges, demands, fines, penalties, costs, expenses, damages, natural resource damages, reasonable fees and disbursements of counsel, costs of Remediation, liens or other claims against property or improvements thereon for work, labor or services performed with respect thereto or other obligations of any kind, character or description (whether absolute, contingent, matured, liquidated, unliquidated, accrued, known, unknown, direct, indirect, derivative or otherwise) and expressly including those related to an indemnified Party’s own negligence, pertaining or relating directly or indirectly, in whole or in part, to an Environmental Claim or Environmental Condition.
Environmental Loss means any losses, damages, costs, fees, expenses, claims, suits, judgments, awards, liabilities (including but not limited to strict liabilities), obligations, debts, diminutions in value, fines, penalties, charges, costs of remediation (whether or not performed voluntarily), amounts paid in settlement, foreseeable and unforeseeable consequential damages, litigation costs, reasonable attorneysfees and expenses, engineers’ fees, environmental consultants’ fees, and investigation costs (including but not limited to costs for sampling, testing and analysis of soil, water, air, building materials, and other materials and substances whether solid, liquid or gas), of whatever kind or nature, and whether or not incurred in connection with any judicial or administrative proceedings, actions, claims, suits, judgments or awards relating to Hazardous Materials, Environmental Claims, Environmental Liens and violation of Environmental Laws.
Environmental Loss means a Loss suffered or incurred by an Owner Indemnified Party arising out of or as a result of: (i) any violation of any applicable Fuel Environmental Law relating to the Fuel or to the ownership, transportation, storage, use or disposition thereof; (ii) any investigation, inquiry, order, hearing, action, or other proceeding by or before any governmental agency addressing the violation of any applicable Fuel Environmental Law in connection with any Fuel-Related Activity; (iii) any claim, demand or cause of action, or any action or other proceeding, whether meritorious or not, brought or asserted against any Owner Indemnified Party which directly or indirectly relates to, arises from or is based on any of the matters described in clauses (i) or (ii), or any allegation of any such matters; or (iv) any cost of reclamation or remediation with respect to any property, whether then owned by such Owner Indemnified Party or by another person and whether legally imposed under a Fuel Environmental Law or as a result of a Legal Proceeding or necessary to restore an Owner Indemnified Party's property to the condition it was in and/or the value it held prior to any damage suffered as a result of any Fuel-Related Activity.