Material Environmental Event means, with respect to any Borrowing Base Property, (a) a violation of any Environmental Law with respect to such Borrowing Base Property, or (b) the presence of any Hazardous Materials on, about, or under such Borrowing Base Property that, under or pursuant to any Environmental Law, would require remediation, if in the case of either (a) or (b), such event or circumstance could reasonably be expected to have a Material Property Event.
Material Environmental Event means, with respect to any Unencumbered Property, (a) a violation of any Environmental Law with respect to such Unencumbered Property, or (b) the presence of any Hazardous Materials on, about, or under such Unencumbered Property that, under or pursuant to any Environmental Law, would require remediation, if in the case of either (a) or (b), such event or circumstance could reasonably be expected to have a Material Property Event.
Material Environmental Event means, with respect to any Unencumbered Property, (a) a violation of any Environmental Law with respect to such Unencumbered Property or (b) the presence of any Hazardous Substances on, about, or under such Unencumbered Property that, under or pursuant to any Environmental Law, would require remediation, or (c) unquantifiable remediation costs as determined by an environmental diligence report, if in the case of either clause (a), (b) or (c), such event or circumstance would reasonably be expected to result in a material adverse effect with respect to the use, operations or marketability of such Unencumbered Property.
Examples of Material Environmental Event in a sentence
The Credit Parties will give notice to the Agent in writing within five (5) Business Days of becoming aware of any material setoff, claims (including, with respect to the Unencumbered Property, environmental claims), withholdings or other defenses to which any Unencumbered Property or the rights of the Agent or the Lenders with respect to the Unencumbered Property, are subject, which could have a Material Adverse Effect or result in a Material Environmental Event.
No member of the Consolidated Group: (a) has any knowledge of the occurrence of a Material Environmental Event with respect to such Person’s Properties; and (b) to its knowledge, has threatened or actual liability in connection with the Release or threatened Release of any Hazardous Material into the Environment which, except as specifically disclosed in Schedule 8.09, could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
For example, in New York if your mailbox is at JFK you can deduct the expense of transportation from your base to LGA or EWR if you are asked to fly out of those airports.
Each of Parent and Borrower shall, and shall cause each other member of the Consolidated Group to comply with all Environmental Laws except where the failure to so comply could not reasonably be expected to result in a Material Adverse Effect or a Material Environmental Event.
More Definitions of Material Environmental Event
Material Environmental Event means, with respect to any Real Property, (i) a violation of any Environmental Requirement or (ii) the presence of Hazardous Materials on, about or under such Real Property that, under or pursuant to any Environmental Requirement, would require remediation if, in any such case, the total cost to the Borrower and its Subsidiaries of remedying such violation of such Environmental Requirement or remediating such Hazardous Materials reasonably could be expected to exceed $250,000.
Material Environmental Event means, with respect to any Property: (a) a violation of any Environmental Law with respect to such Property (including, without limitation, as a result of any use or condition thereof or activity thereon); (b) the presence of any Hazardous Materials on, about or under such Property; (c) the attachment of any environmental lien to such Property; or (d) the placement, installation, disposal, spilling, leaking, dumping or Release of, any Hazardous Material or storage tank (or similar vessel) on such Property; provided that, in the case of either clause (a) or (b) above, such event or circumstance would require remediation under or pursuant to any Environmental Law, or could reasonably be expected to result in a Material Adverse Effect or in a Material Property Event.
Material Environmental Event means, with respect to any Property: (a) a violation of any Environmental Law with respect to such Property (including, without limitation, as a result of any use or condition thereof or activity thereon); (b) the presence of any Hazardous Materials (other than routine office, cleaning, janitorial and other materials and supplies necessary to operate, maintain, repair, improve and lease such Property, in each case in commercially reasonable quantities and in compliance with all Environmental Laws) on, about or under such Property; (c) the attachment of any environmental lien to such Property; or (d) the placement, installation, disposal, spilling, leaking, dumping or Release of, as applicable, (i) any Hazardous Material (other than routine office, cleaning, janitorial and other materials and supplies necessary to operate, maintain, repair, improve and lease such Property, in each case in commercially reasonable quantities and in compliance with all Environmental Laws) or (ii) any storage tank (or similar vessel) on such Property; provided that, in the case of either clause (a) or (b) above, such event or circumstance would require remediation under or pursuant to any Environmental Law, or could reasonably be expected to have a Material Adverse Effect or result in a Material Property Event.
Material Environmental Event means an event, occurrence or condition, with respect to the operations or any property of the Borrower or its Restricted Subsidiaries, that could reasonably be expected to result in the Borrower or any Restricted Subsidiaries incurring liabilities under or pursuant to Environmental Law in excess of $10,000,000.
Material Environmental Event means, with respect to any Unencumbered Property, (a) a violation of any Environmental Law with respect to such Unencumbered Property or (b) the presence of any Hazardous Substances on, about, or under such Unencumbered Property that, under or pursuant to any Environmental Law, would require remediation, or (c) unquantifiable remediation costs as determined by an environmental diligence report, if in the case of either clause (a), (b) or (c), such event or circumstance would reasonably be expected to result in a material adverse effect with respect to the use, operations or marketability of such Unencumbered Property. Maturity Date. (a) (i) with respect to the 2027 Term Loans, the 2027 Maturity Date, or (ii) with respect to any tranche of Additional Term Loans, the date agreed by Borrower and the applicable Lenders in the applicable Additional Term Loan Amendment in accordance with §2.12 or (b) such earlier date on which the Loans shall become due and payable pursuant to the terms hereof. Moody’s. Xxxxx’x Investor Service, Inc. Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA maintained or contributed to by Borrower or any ERISA Affiliate. Negative Pledge. Means, a provision of any agreement (other than any Loan Document) that prohibits the creation of any Lien on any assets of a Person to secure the Obligations; provided, however, that (i) an agreement (including pursuant to any Pari Passu Facility) that establishes a maximum ratio of unsecured debt to unencumbered assets, or of secured debt to total assets, or that otherwise conditions a Person’s ability to encumber its assets upon the maintenance of one or more specified ratios that limit such Person’s ability to encumber its assets but that do not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets, and (ii) an agreement relating to the sale of a Property that limits the creation of any Lien pending the closing of the sale thereof, in each case shall not constitute a “Negative Pledge.” Net Operating Income. For any parcel of Real Estate as of any date of determination, an amount equal to (A) the aggregate gross revenues from tenants with respect to the operations of such Real Estate during such period, excluding (i) any accrued revenues attributable to so called “straight-line rent accounting” and (ii) all rents, common area reimbursements and other income for such Real Estate received from tenants in default of monetary or other mater...
Material Environmental Event means, with respect to any Property, (a) a violation of any Environmental Law with respect to such Property, or
Material Environmental Event means, with respect to any Unencumbered Property, (a) a violation of any Environmental Law with respect to such Unencumbered Property or (b) the presence of any Hazardous Substances on, about, or under such Unencumbered Property that, under or pursuant to any Environmental Law, would require remediation, or (c) unquantifiable remediation costs as determined by an environmental diligence report, if in the case of either clause (a), (b) or (c), such event or circumstance would reasonably be expected to result in a material adverse effect with respect to the use, operations or marketability of such Unencumbered Property. Maturity Date. (a) (i) with respect to the 2027 Term Loans, the 2027 Maturity Date, or (ii) with respect to any tranche of Additional Term Loans, the date agreed by Borrower and the applicable Lenders in the applicable Additional Term Loan Amendment in accordance with §2.12 or (b) such earlier date on which the Loans shall become due and payable pursuant to the terms hereof. Moody’s. Xxxxx’x Investor Service, Inc. Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA maintained or contributed to by Borrower or any ERISA Affiliate.