Remedial Work definition
Examples of Remedial Work in a sentence
In connection with any Remedial Work with respect to any Fiber Network that is projected to cost in excess of $1,000,000, the applicable Asset Entity agrees to cause such Remedial Work to be performed by licensed contractors.
If an Asset Entity fails to timely commence and diligently pursue to completion any such Remedial Work with respect to any Specially Serviced Fiber Network, the Servicer may (but will not be obligated to), upon 45 days prior notice to the Issuer of its intention to do so, cause such Remedial Work to be performed.
The Obligors agree to pay and reimburse the Servicer as Additional Securitization Expenses for all expenses reasonably incurred by the Servicer in connection with (a) monitoring, reviewing or performing such Remedial Work, (b) investigating potential environmental claims against the Asset Entities or (c) participating in any legal or administrative proceeding against the Asset Entities or their assets under applicable environmental law.