Example ContractsClausesEnvironmental Claims
Environmental Claims
Environmental Claims contract clause examples

Environmental Matters. The Seller and each of the Seller Affiliates, in respect of the Business, the Purchased Assets, and the Assumed Liabilities, is and has been in material compliance in all respects with all Environmental Laws, including possession of, and the compliance with, all permits required under applicable Environmental Laws and has not received any notice or other communication (in writing or otherwise) from any Governmental Body or other Person regarding any actual, alleged, possible or potential Liability arising from or relating to the presence, generation, manufacture, production, transportation, importation, use, treatment, refinement, processing, handling, storage, discharge, release, emission or disposal of any Hazardous Material, except, in each case, as would not be material to the Business. No Person has ever commenced or threatened to commence any contribution action or other Proceeding against the Seller or any of the Seller Affiliates in connection with any such actual, alleged, possible or potential Liability, except as would not reasonably be material to the Business.

Environmental Assessment. Landlord has provided to Tenant an Environmental Assessment prepared by Langan Engineering and Environmental Services, Inc., dated as of August 3, 2021 (the “Existing Condition Environmental Report”). In connection with Tenant’s surrender of the Premises, Tenant shall submit to Landlord, at least one hundred twenty (120) days prior to the expiration date of this Lease (or in the event of an earlier termination of this Lease, as soon as reasonably possible following such termination), an environmental Assessment of the Premises by a competent and experienced environmental engineer or engineering firm reasonably satisfactory to Landlord (pursuant to a contract approved by Landlord and providing that Landlord can rely on the Environmental Assessment), which # evidences that the Premises are in a clean and safe condition and free and clear of any Hazardous Materials; and # includes a review of the Premises by an environmental consultant for asbestos, mold, fungus, spores, and other moisture conditions, on-site chemical use, and lead-based paint. If such Environmental Assessment reveals that remediation or Clean-up is required under any Environmental Laws for conditions that were not disclosed in the Existing Condition Environmental Report, Tenant shall submit a remediation plan prepared by a recognized environmental consultant and shall be responsible for all costs of remediation and Clean-up, as more particularly provided in Section 5.3, above.

Environmental Report. shall cause to be delivered to an environmental assessment report or reports of one or more qualified environmental engineering or similar inspection firms approved by in form, scope and substance satisfactory to , which report or reports shall indicate a condition of the Property in all respects satisfactory to in its sole discretion and upon which report or reports are expressly entitled to rely.

Except as set forth on [Schedule 5.16], # each Loan Party and each of their respective Subsidiaries is and has been in compliance in all material respects with all applicable Environmental Laws and has obtained and is materially in compliance with the terms of any permits required under such Environmental Laws; # there are no Environmental Claims pending or to the knowledge of any Loan Party, threatened, against any Loan Party or any of their Subsidiaries that could reasonably be expected to result in liabilities in excess of $2,000,000; # no Lien, other than a Permitted Lien, has been recorded or to the knowledge of any Loan Party, threatened under any Environmental Law with respect to any real property owned by any Loan Party or any of their Subsidiaries that could reasonably be expected to result in liabilities in excess of $500,000; # no Loan Party or any of their Subsidiaries has become subject to any Environmental Liability and no Loan Party is currently liable under any contractual obligation to assume or accept responsibility for any Environmental Liability of any other Person that could reasonably be expected to result in liabilities in excess of 2,000,000; # no Person with an indemnity or contribution obligation to any Loan Party or any of their Subsidiaries relating to compliance with or liability under Environmental Law is materially in default with respect to such obligation; and # there are no facts, circumstances, conditions or occurrences with respect to the past or present business or operations of the Loan Parties that could reasonably be expected to give rise to any Environmental Claim against the Loan Parties or any of their Subsidiaries or any Environmental Liability of a Loan Party or any of their Subsidiaries that could reasonably be expected to result in liabilities in excess of $2,000,000. For purposes of this [Section 5.16], the terms "Loan Party" and "Subsidiary" shall include any business or business entity which is, in whole or in part, a predecessor of a Loan Party or any of their Subsidiaries.

Furnish [[Organization B:Organization]], concurrently with the delivery of the financial statements referred to in [Sections 9.7, 9.8, and 9.9]9]9] with a Compliance Certificate signed by an Authorized Officer of Borrowing [[Organization B:Organization]] stating, to the best of his knowledge after reasonable due inquiry, that each Loan

Environmental Conditions. A Phase I environmental site assessment (or update of a previous Phase I and or Phase II site assessment) and, with respect to certain Mortgage Loans, a Phase II environmental site assessment (collectively, an “ESA”) meeting ASTM requirements were conducted by a reputable environmental consultant in connection with such Mortgage Loan within 12 months prior to its origination date (or an update of a previous ESA was prepared), and such ESA # did not identify the existence of recognized environmental conditions (as such term is defined in ASTM [[Unknown Identifier]] or its successor, an “Environmental Condition”) at the related Mortgaged Property or the need for further investigation, or # if the existence of an Environmental Condition or need for further investigation was indicated in any such ESA, then at least one of the following statements is true: # an amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental Condition has been escrowed by the related Mortgagor and is held or controlled by the related Mortgagee; # if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to be instituted by the related Mortgagor that, based on the ESA, can reasonably be expected to mitigate the identified risk; # the Environmental Condition identified in the related environmental report was remediated or abated in all material respects prior to the date hereof, and, if and as appropriate, a no further action or closure letter was obtained from the applicable governmental regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental authority as “closed” or a reputable environmental consultant has concluded that no further action is required); # an environmental policy or a lender’s pollution legal liability insurance policy meeting the requirements set forth below that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than “A-” (or the equivalent) by Moody’s Investors Service, Inc., S&P Global Ratings and/or Fitch Ratings, Inc.; # a party not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party has financial resources reasonably estimated to be adequate to address the situation; or # a party related to the Mortgagor having financial resources reasonably estimated to be adequate to address the situation is required to take action. To the Seller’s knowledge, except as set forth in the ESA, there is no Environmental

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.

Each Target Entity is, in all material respects, in compliance with all Environmental Laws, which compliance has included obtaining and complying, in all material respects, at all times with all Permits required pursuant to Environmental Laws.

Environmental Matters. [[Organization A:Organization]] has not received notification from any governmental authority advising it that any Leased Real Property is in violation of any law relating to hazardous materials or hazardous substances, as those terms may be used in local, state or federal law. None of the Leased Real Property has been used by [[Organization A:Organization]] to handle, treat, store, or dispose of any hazardous or toxic waste or substance, nor is any of such real property, including all soils, ground waters, and surface waters located on, in, or under the real property, known by [[Organization A:Organization]] to be contaminated with pollutants or other substances which contamination may give rise to a clean-up obligation under any law. All operations conducted by [[Organization A:Organization]] on such Leased Real Property have been and are in material compliance with all federal, state, and local laws, permits, licenses, and authorizations related to environmental compliance and control.

. The , the and each [[Consolidated Entity:Organization]] conduct in the ordinary course of business in connection with the purchase of real estate a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on or with respect to such properties, and as a result thereof the Loan Parties have reasonably concluded that, except as specifically disclosed in [Schedule 5.09] (as amended by any Compliance Certificate or Loan Notice containing supplemental information thereto), any violation of such Environmental Laws and claims would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.