Common use of Environmental Release Clause in Contracts

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 27 contracts

Samples: Credit Agreement (Outback Steakhouse Inc), Credit Agreement (Outback Steakhouse Inc), Credit Agreement (American Capital Strategies LTD)

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Environmental Release. The Borrower agrees that upon Upon becoming aware of the occurrence of an Environmental Release at or on any of that could reasonably be expected to have a Material Adverse Effect, the Properties it Borrower will act immediately to promptly investigate the extent of, and to take appropriate remedial action in a timely manner to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 14 contracts

Samples: Credit Agreement (South Carolina Electric & Gas Co), Credit Agreement (South Carolina Electric & Gas Co), Credit Agreement (South Carolina Electric & Gas Co)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 9 contracts

Samples: Loan Agreement (Summit Properties Inc), Credit Agreement (Source Co), Credit Agreement (Bull Run Corp)

Environmental Release. The Borrower agrees that upon the occurrence of an a material Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 7 contracts

Samples: Credit Agreement (Atlantic American Corp), Credit Agreement (Atlantic American Corp), Credit Agreement (Airborne Freight Corp /De/)

Environmental Release. The Borrower agrees that upon obtaining knowledge of the occurrence of an Environmental Release at or on any of the Properties it will act immediately promptly to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 4 contracts

Samples: Credit Agreement (Home Depot Inc), Credit Agreement (Home Depot Inc), Credit Agreement (Home Depot Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on which would have a Material Adverse Effect and which violates any of the Properties Environmental Requirement it will act immediately to promptly investigate the extent of, and to take appropriate remedial action to eliminate, remediate such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 4 contracts

Samples: Credit Agreement (Mohawk Industries Inc), 364 Day Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately timely to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed except where the Borrower is contesting its obligation to do so by any before the appropriate Environmental AuthorityAuthority and is maintaining adequate and appropriate reserves under GAAP.

Appears in 3 contracts

Samples: Credit Agreement (Gerber Scientific Inc), Credit Agreement (Gerber Scientific Inc), Credit Agreement (Gerber Scientific Inc)

Environmental Release. The Borrower agrees that upon the --------------------- occurrence of an Environmental Release at or on any of the Properties it will act immediately promptly to investigate the extent of, and to take appropriate remedial action to eliminateremedy, such Environmental Release, whether or not ordered or otherwise directed to do so the extent required by any applicable Environmental AuthorityRequirement or any Environmental Judgment and Order, unless the Borrower is contesting such action in good faith through appropriate proceedings.

Appears in 3 contracts

Samples: Credit Agreement (Global Payments Inc), Credit Agreement (National Data Corp), Credit Agreement (National Data Corp)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminatewith respect to, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Valspar Corp), Revolving Credit Agreement (Valspar Corp), Credit Agreement (Valspar Corp)

Environmental Release. The Borrower and each Guarantor --------------------- agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 3 contracts

Samples: Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp)

Environmental Release. The Borrower and each Guarantor agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority, except where any Environmental Release does not have and would not reasonably be expected to cause a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (Amli Residential Properties Trust), Credit Agreement (Amli Residential Properties Trust), Credit Agreement (Amli Residential Properties Trust)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Aggregate Real Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 3 contracts

Samples: Credit and Security Agreement (Thomaston Mills Inc), Credit and Security Agreement (Thomas & Betts Corp), Credit and Security Agreement (Thomaston Mills Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an a non-permitted Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (Springs Industries Inc), Credit Agreement (Springs Industries Inc)

Environmental Release. The Each Borrower agrees that upon the occurrence of an any material Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take commence and pursue appropriate remedial action to eliminate, to the extent required by applicable law, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (National Service Industries Inc), Credit Agreement (National Service Industries Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately promptly to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (Starrett L S Co), Credit Agreement (Starrett L S Co)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority; provided the foregoing shall not require the Borrower to take any action not required by applicable law unless such action would be reasonably prudent to avoid liability to third parties other than any Environmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (Trion Inc), Credit Agreement (Trion Inc)

Environmental Release. The Borrower and each Guarantor agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp)

Environmental Release. The Borrower agrees Borrowers agree that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (Sed International Holdings Inc), Credit Agreement (Southern Electronics Corp)

Environmental Release. The Borrower agrees Borrowers agree that upon the occurrence of an Environmental Release at or on any of the Properties it they will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Source Information Management Co)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to promptly investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so as legitimately required by any Environmental AuthorityAuthority or Environmental Law.

Appears in 1 contract

Samples: Credit Agreement (La-Z-Boy Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to the extent necessary to satisfy any Environmental Requirements or the demand of any Environmental Authority, take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

Environmental Release. The Borrower agrees that upon --------------------- the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Us Xpress Enterprises Inc)

Environmental Release. The Borrower and each Guarantor agrees that upon the occurrence of an Environmental Release at or on any of the Aggregate Real Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminaterespond to, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit and Security Agreement (Commscope Inc)

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Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately promptly to reasonably investigate the extent of, and to take appropriate any remedial action required pursuant to any Environmental Requirement to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Kemet Corporation)

Environmental Release. The Each Borrower and each Guarantor agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority, except where any Environmental Release does not have and would not reasonably be expected to cause a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Amli Residential Properties Trust)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Releaseaction, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Scana Corp)

Environmental Release. The Borrower agrees that upon Upon becoming aware of the occurrence of an Environmental Release at or on any of Release, the Properties it Borrower will act immediately to promptly investigate the extent of, and to take appropriate remedial action in a timely manner to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (South Carolina Electric & Gas Co)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by Release in accordance with any and all Environmental AuthorityRequirements.

Appears in 1 contract

Samples: Credit Agreement (First Citizens Bancorporation of South Carolina Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action the extent necessary to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by satisfy any Environmental Authority.Requirements or the demand of any Environmental

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

Environmental Release. The Each Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Aggregate Real Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Crown Crafts Inc)

Environmental Release. The Borrower agrees that that, upon the occurrence of an Environmental Release at at, on or on from any of the Properties Properties, it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not to the extent ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Waste Industries Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at at, under or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Secured Revolving Credit Agreement (MVC Capital, Inc.)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action with respect to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (McWhorter Technologies Inc /De/)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Hancock Fabrics Inc)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately promptly upon obtaining knowledge thereof to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.

Appears in 1 contract

Samples: Credit Agreement (American Capital Strategies LTD)

Environmental Release. The Borrower agrees that upon the ---------------------- occurrence of an Environmental Release at or on any of the Properties real property owned or leased by Borrower or any Subsidiary it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminateeliminate the effects of, such Environmental Release, whether or not ordered or otherwise directed to do so by Release in accordance with any and all Environmental AuthorityRequirements.

Appears in 1 contract

Samples: Loan Agreement (Firstspartan Financial Corp)

Environmental Release. The Borrower agrees that upon the occurrence of an Environmental Release at or on any of the Properties it will act immediately to investigate the extent of, and to take appropriate remedial action to eliminate, such Environmental Release, whether or not ordered or otherwise directed to do so by any Environmental Authority.. <PAGE>

Appears in 1 contract

Samples: Credit Agreement (Meredith Corp)

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