Material Environmental Violation definition

Material Environmental Violation means any Environmental Violation (i) which imposes or, in the good faith judgment of the Lessee or the Lessor, could reasonably be expected to impose criminal liability on the Lessor, or (ii) the cost of which to remediate is or could reasonably be expected to be in excess of $1,000,000.
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Material Environmental Violation is defined in Section 14.3 of the Lease.
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Material Environmental Violation shall have the meaning provided in Section 16.2 of the Lease.
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Examples of Material Environmental Violation in a sentence

  • All such notices shall describe in reasonable detail the nature of the Material Environmental Violation, including any claims, actions or proceedings in respect thereof, and Construction Agent’s proposed response thereto.

  • In addition, Construction Agent shall provide to Lessor and the Administrative Agent, within ten (10) Business Days of receipt, copies of all written communications with any Governmental Authority relating to any such Material Environmental Violation.

  • Construction Agent shall also promptly provide such detailed reports of any such Material Environmental Violation as may reasonably be requested by Lessor or the Administrative Agent.

  • Construction Agent shall promptly provide to Lessor and the Administrative Agent written notice of any Material Environmental Violation.


More Definitions of Material Environmental Violation

Material Environmental Violation means an Environmental Violation, excluding technical violations that can be cured by the making of submissions or filings, and/or the expenditure of de minimis costs.
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Material Environmental Violation means any Environmental Violation that could reasonably be expected to have a Material Adverse Effect with respect to any Loan Party.
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Material Environmental Violation is defined in Section 10.3 of the Lease.
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Material Environmental Violation means any pending or threatened Environmental Claim involving any Environmental Violation or any Release on, at, under or from Leased Property, which violation or Release is reasonably expected to (a) require in excess of (i) prior to the Base Term Commencement Date, Five Million Dollars ($5,000,000) in remediation costs and (ii) from and after the Base Term Commencment Date, Fifteen Million Dollars ($15,000,000) in remediation costs, or (b) which is reasonably expected to result in the imposition of material civil liability or criminal penalties upon Lessor, the Administrative Agent or any Participant; provided, however, any Material Environmental Violations disclosed in the Environmental Report, the cost of remediation of which is to be paid by Advances and is included in the Project Budget, shall not be deemed to be Material Enviromental Violations.
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