Environmental Trigger definition

Environmental Trigger has the meaning set forth in paragraph 13(b) of the Lease.
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Environmental Trigger means the occurrence or existence of one or more Environmental Events affecting the Property where, in the reasonable opinion of the Agent and the Environmental Consultant, (i) the cost of Remediation, individually or in the aggregate, is reasonably expected to exceed $5,000,000 or (ii) the occurrence of such Environmental Event would materially and adversely affect the value of the Property or is otherwise reasonably expected to result in material liability with respect to the Property.
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Environmental Trigger shall have the meaning set forth in Section 6.5(d) of the Facility Lease.
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Examples of Environmental Trigger in a sentence

  • The Company shall be in compliance with its obligations under the Operative Documents on such date and there shall exist no Default, Event of Default, Unwind Event or Environmental Trigger under the Operative Documents and no Termination Notice shall have been delivered or been deemed to have been delivered.

  • If it is the opinion of the Agent and the Environmental Consultant that an Environmental Event has occurred or exists that would result in a material adverse effect on the use, value or condition of the Property, (an "Environmental Trigger"), the Lessor, the Agent or the Majority Holders shall have the option, each in its sole discretion, to deliver or cause the Lessor to deliver, within thirty days after receipt of such report, a Termination Notice.

  • Each party hereto shall, at the ---------------------- reasonable request of the other party hereto, deliver to such other party a certificate stating whether such first party has knowledge that, or has received notice from any person that, any Casualty, Condemnation, Default, Major Environmental Event, Environmental Default, Environmental Trigger or Event of Default has occurred and is continuing.

  • Irrespective of whether an Environmental Trigger has occurred, the Lessee shall immediately commence, or cause to be commenced, at its sole cost and expense, such actions as may be necessary to comply in all material respects with all applicable Environmental Laws and to alleviate any significant risk to human health or the environment if the same arises from a condition on or in respect of the Property or any part thereof, whether existing prior to, on or after the date of this Lease.

  • Each party hereto shall, at the reasonable request of the other party hereto, deliver to such other party a certificate stating whether such first party has knowledge of, or has received notice from any person of, any Casualty, Condemnation, Default, Environmental Trigger, Unwind Event or Event of Default.

  • Each party hereto shall, at the reasonable request of the other party hereto, deliver to such other party a certificate stating whether such first party has knowledge that, or has received notice from any person that, any Casualty, Condemnation, Default, Environmental Trigger or Event of Default has occurred and is continuing.

  • Each party hereto shall, at the reasonable request of the other party hereto, deliver to such other party a certificate stating whether such first party has knowledge of, or has received notice from any 34 38 person of, any Casualty, Condemnation, Default, Environmental Trigger, Unwind Event or Event of Default.

  • The Company shall be in compliance with its obligations under the Operative Documents on such date and there shall exist no Default, Event of Default, Unwind Event or Environmental Trigger and no Termination Notice shall have been delivered or been deemed to have been delivered.

  • So long as no Default, Event of Default, Non-Performance Event or Environmental Trigger exists, the Lessee may request, by written no ▇▇▇▇ given to the Agent at least twelve (12) months prior to the Base Term Expiration Date, an extension of this Lease with respect to all Properties for one additional period for a term to be agreed upon, but in any event not to exceed seven (7) years (the "Extension Term").

  • Within 120 days after the date of this Agreement, Borrower shall notify Lender whether an Environmental Trigger has occurred, as described in Section 4.1 of this Agreement.


More Definitions of Environmental Trigger

Environmental Trigger has the meaning set forth in Section 8.02 of the Lease.
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Related to Environmental Trigger

  • Insured Environmental Event As defined in Section 3.07(d).

  • Environmental Event shall have the meaning set forth in Section 12.2.1.

  • major environmental rule means a rule the specific intent of which is to protect the environment or reduce risks to human health from environmental exposure and that may adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, or the public health and safety of the state or a sector of the state.

  • Phase I Environmental Report means a report by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has a reasonable amount of experience conducting such assessments.

  • Initial Environmental Examination or “IEE” means the initial environmental examination for the Project, including any update thereto, prepared and submitted by the Borrower and cleared by ADB;