Environmental Problem definition

Environmental Problem means any of the following:

Environmental Problem means the presence or release of any Hazardous Materials from, onto, on or under any portion of the Property, or the violation of any environmental law with respect to the Property or any part thereof, or the failure to abide by the terms of any permit or approval required under any environmental law with respect to the Property or any part thereof.

Environmental Problem has the meaning set forth in Section 7.2(b).

Examples of Environmental Problem in a sentence

• Notwithstanding the foregoing, the Servicer shall obtain the Master Servicer’s and the NIMS Insurer’s written consent to any expenditures proposed to remediate Environmental Problem Properties or to defend any claims associated with Environmental Problem Properties if such expenses, in the aggregate, are expected to exceed $100,000.

• Notwithstanding the foregoing, the Servicer shall obtain the Master Servicer's and the NIMS Insurer's written consent to any expenditures proposed to remediate Environmental Problem Properties or to defend any claims associated with Environmental Problem Properties if such expenses, in the aggregate, are expected to exceed $100,000.

• If the Servicer has received reliable instructions to the effect that a Property is an Environmental Problem Property (e.g., Servicer obtains a broker’s price opinion which reveals the potential for such problem), the Servicer will not accept a deed-in-lieu of foreclosure upon any such Property without first obtaining a preliminary environmental investigation for the Property satisfactory to the NIMS Insurer.

• If the Servicer has received reliable instructions to the effect that a Property is an Environmental Problem Property (e.g., Servicer obtains a broker’s price opinion which reveals the potential for such problem), the Servicer will not accept a deed-in-lieu of foreclosure upon any such Property without first obtaining a preliminary environmental investigation for the Property satisfactory to the Master Servicer or the NIMS Insurer.

• If the Servicer has received reliable instructions to the effect that a Property is an Environmental Problem Property (e.g., Servicer obtains a broker's price opinion which reveals the potential for such problem), the Servicer will not accept a deed-in-lieu of foreclosure upon any such Property without first obtaining a preliminary environmental investigation for the Property satisfactory to the NIMS Insurer.

More Definitions of Environmental Problem

Environmental Problem shall have the meaning set forth in Section 12.6 hereof.

Environmental Problem shall have the meaning given such term in Section 5.5.

Environmental Problem has the meaning assigned to such term in Section 3.01(f) hereof.

Environmental Problem means any of the following: (i) the presence, suspected presence, or alleged presence of any Hazardous Materials on, in, or under all or any portion of the Real Property; (ii) the release, threatened release, or migration of any Hazardous Materials from the Real Property as a result of the conduct of activities at the Real Property; (iii) the violation, or alleged violation of any Environmental Law with respect to the Real Property, or (iv) the failure or alleged failure to obtain or to abide by the terms or conditions of any permit or approval required under any Environmental Law with respect to the Real Property or Seller. The indemnity herein shall not be subject to the limitation on the time limit of Buyer's indemnity set forth in Section 10.1, or the limitations as set forth in Section 10.5.

Environmental Problem means any claim, demand, request, inquiry, action or proceeding (whether public or private, formal or informal) brought under the federal Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, ("CERCLA"), or any similar federal, state, or local statute, ordinance, rule, regulation, order or mandate of whatever nature which concerns environmental danger, damage, contamination, toxic wastes, hazardous materials, or the like; or any condition which could reasonably give rise to such claim or proceeding. Seller shall assign to Pioneer, KNRECO and KUD, at closing, his rights, if any, to indemnification from any other entity whose past acts or omissions might have created latent Environmental Problems.

Environmental Problem means any discharge, spillage, seepage or uncontrolled loss of any Hazardous Substances occurring after July 15, 1997 (the date of the environmental report obtained by Buyer's mortgage lender), and not caused by any act or omission (where such party has a duty to act) of Buyer, SFN or the Manager or any party within the control of Buyer, SFN or the Manager, that can or does subject the owner of the fee interest in the Mall to any environmental enforcement action by a Governmental Authority or any fines or penalties imposed by a Governmental Authority or any liability to one or more third parties, including, without limitation, employees.

Environmental Problem means (A) any release or discharge, or threatened release or discharge, of a Hazardous Material in, on, under, from or about the Sublease Premises, the Master Premises or the Building or (B) any violation or threatened violation of any Environmental Laws, whether or not intentional, in, on, under or about the Sublease Premises, the Master Premises or the Building.