Environmental Events. The Credit Parties will give notice to the Agent within five (5) Business Days of becoming aware of # any known Release, or threat of Release, of any Hazardous Substances in violation of any applicable Environmental Law; # any violation of any Environmental Law that a Credit Party reports in writing or is reportable by such Person in writing (or for which any written report supplemental to any oral report is made) to any federal, state or local environmental agency or # any written inquiry, proceeding, or investigation, including a written notice from any agency of potential environmental liability, of any federal, state or local environmental agency or board, that in the case of either clauses # – # above involves any Real Estate and would reasonably be expected to have a Material Adverse Effect, or materially adversely affect the Agent’s liens or security title on the Collateral pursuant to the Security Documents.

Environmental Events. The Credit Parties will give notice to the Agent within five (5) Business Days of becoming aware of # any known Release, or threat of Release, of any Hazardous Substances in violation of any applicable Environmental Law; # any violation of any Environmental Law that a Credit Party reports in writing or is reportable by such Person in writing (or for which any written report supplemental to any oral report is made) to any federal, state or local environmental agency or # any written inquiry, proceeding, or investigation, including a written notice from any agency of potential environmental liability, of any federal, state or local environmental agency or board, that in the case of either clauses # – # above involves any Unencumbered Property and would reasonably be expected to have a Material Adverse Effect or constitute a Material Environmental Event.