Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.
Environmental Compliance Reserve means, with respect to Eligible Real Estate, any reserve which the Agent, from time to time in its reasonable discretion, acting in good faith, establishes for estimable amounts that are reasonably likely to be expended by any of the Loan Parties in order for such Loan Party and its operations and property (a) to comply with any notice from a Governmental Authority asserting non-compliance with Environmental Laws, or (b) to correct any such non-compliance with Environmental Laws or to provide for any Environmental Liability.
Environmental Compliance Reserve means, with respect to Eligible Real Estate, such reserves which the Agent, from time to time in its Permitted Discretion establishes for estimable amounts that are reasonably likely to be expended by any of the Loan Parties in order for such Loan Party and its operations and property (a) to comply with any notice from a Governmental Authority asserting non-compliance with Environmental Laws with respect to Eligible Real Estate, or (b) to correct any such non-compliance with Environmental Laws with respect to Eligible Real Estate or to provide for any Environmental Liability.
Examples of Environmental Compliance Reserve in a sentence
Borrower shall have no right to make withdrawals from the Deferred Maintenance and Environmental Compliance Reserve Account.
More Definitions of Environmental Compliance Reserve
Environmental Compliance Reserve means any reserve which the Agent, after the Closing Date, establishes in its reasonable discretion from time to time for amounts that are reasonably likely to be expended by a Borrower in order for such Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to SECTION 9.7.
Environmental Compliance Reserve means, with respect to Eligible Real Estate, any reserve which any Co-Collateral Agent (after consultation with the other Co-Collateral Agent and the Canadian Agent), from time to time in its reasonable commercial discretion exercised in good faith, establishes for estimable amounts that are reasonably likely to be expended by any of the Canadian Loan Parties in order for such Loan Party and its operations and property (a) to comply with any notice from a Governmental Authority asserting non-compliance with Environmental Laws, or (b) to correct any such non-compliance with Environmental Laws relating to such Eligible Real Estate.
Environmental Compliance Reserve means all reserves which the Lender from time to time establishes for amounts that are liabilities required to be paid by Borrower within 180 days in order to correct any violation by the Borrower or the operations or Property of Borrower with respect to Environmental Laws.
Environmental Compliance Reserve with respect to Real Property Collateral, any reserve which the Administrative Agent, from time to time in its Permitted Discretion, establishes for estimable amounts that are reasonably likely to be expended by the Borrowers in order for the Borrowers and their operations and property (a) to comply with any notice from a Governmental Authority asserting non-compliance with Environmental Laws, or (b) to correct any such non-compliance with Environmental Laws or to provide for any Environmental Liability.
Environmental Compliance Reserve means any reserve which the Agent establishes in its Permitted Discretion from time to time for amounts that are reasonably likely to be expended by the Borrowers, the Guarantors and their Subsidiaries in order for the Borrowers, the Guarantors and their Subsidiaries and their respective operations and property (a) to comply with Environmental Laws in all material respects, (b) to correct in all material respects any such non-compliance with Environmental Laws or (c) to satisfy any Environmental Liability.
Environmental Compliance Reserve means any reserve for the cost of Remedial Action by a Borrower determined by the Administrative Agent from time to time in its reasonable discretion based upon the reports delivered pursuant to SECTION 10.9(B) and such other advice, analysis and engineering studies as it deems appropriate.
Environmental Compliance Reserve means all reserves which the Lender from time to time establishes for amounts that are liabilities required to be paid by the Borrower or any LSB Guarantor Subsidiary within 180 days in order to correct any violation by the Borrower or such LSB Guarantor Subsidiary or the operations or Property of Borrower or any LSB Guarantor Subsidiary with respect to Environmental Laws.