ACTION TO THE EXTENT THAT ITS OBLIGATION TO
DO SO IS BEING CONTESTED IN GOOD FAITH AND BY PROPER PROCEEDINGS AND APPROPRIATE
RESERVES ARE BEING MAINTAINED WITH RESPECT TO SUCH CIRCUMSTANCES IN ACCORDANCE
WITH GAAP.
SECTION 6.14
PREPARATION OF ENVIRONMENTAL/SEISMIC REPORTS.
(A)
AT THE
REQUEST OF THE REQUIRED LENDERS FROM TIME TO TIME (WHICH REQUEST SHALL OCCUR NO
MORE THAN ONCE IN ANY 18-MONTH PERIOD), PROVIDE TO THE LENDERS WITHIN 90 DAYS
AFTER SUCH REQUEST, AT THE EXPENSE OF BORROWER, AN ENVIRONMENTAL SITE ASSESSMENT
REPORT FOR ANY OF ITS PROPERTIES DESCRIBED IN SUCH REQUEST, PREPARED BY AN
ENVIRONMENTAL CONSULTING FIRM ACCEPTABLE TO THE ADMINISTRATIVE AGENT, INDICATING
THE PRESENCE OR ABSENCE OF HAZARDOUS MATERIALS AND THE ESTIMATED COST OF ANY
COMPLIANCE, REMOVAL OR REMEDIAL ACTION IN CONNECTION WITH ANY HAZARDOUS
MATERIALS ON SUCH PROPERTIES; WITHOUT LIMITING THE GENERALITY OF THE FOREGOING,
IF THE ADMINISTRATIVE AGENT DETERMINES AT ANY TIME THAT A MATERIAL RISK EXISTS
THAT ANY SUCH REPORT WILL NOT BE PROVIDED WITHIN THE TIME REFERRED TO ABOVE, THE
ADMINISTRATIVE AGENT MAY RETAIN AN ENVIRONMENTAL CONSULTING FIRM TO PREPARE SUCH
REPORT AT THE EXPENSE OF BORROWER, AND BORROWER HEREBY GRANTS AND AGREES TO
CAUSE ANY LOAN PARTY THAT OWNS ANY PROPERTY DESCRIBED IN SUCH REQUEST TO GRANT
AT THE TIME OF SUCH REQUEST TO THE ADMINISTRATIVE AGENT, THE LENDERS, SUCH FIRM
AND ANY AGENTS OR REPRESENTATIVES THEREOF AN IRREVOCABLE NON-EXCLUSIVE LICENSE,
SUBJECT TO THE RIGHTS OF TENANTS, TO ENTER ONTO THEIR RESPECTIVE PROPERTIES TO
UNDERTAKE SUCH AN ASSESSMENT.
(B)
WITHIN 60 DAYS FOLLOWING ITS REQUEST THEREFORE (WHICH REQUEST
SHALL OCCUR NO MORE THAN ONCE IN ANY 18-MONTH PERIOD), BORROWER SHALL DELIVER TO
THE ADMINISTRATIVE AGENT A WRITTEN EVALUATION AND REPORT WITH A CURRENT COST
ESTIMATE TO BRING THE REAL PROPERTIES DESCRIBED IN THE MORTGAGES INTO COMPLIANCE
WITH SEISMIC COMPLIANCE LAWS.
SECTION 6.15
FURTHER ASSURANCES.
(A)
PROMPTLY UPON REQUEST BY THE
ADMINISTRATIVE AGENT, OR ANY LENDER THROUGH THE ADMINISTRATIVE AGENT,
(I) CORRECT ANY MATERIAL DEFECT OR ERROR THAT MAY BE DISCOVERED IN ANY LOAN
DOCUMENT OR IN THE EXECUTION, ACKNOWLEDGMENT, FILING OR RECORDATION THEREOF AND
(II) DO, EXECUTE, ACKNOWLEDGE, DELIVER, RECORD, RE-RECORD, FILE, RE-FILE,
REGISTER AND RE-REGISTER ANY AND ALL SUCH FURTHER ACTS, DEEDS, CERTIFICATES,
ASSURANCES AND OTHER INSTRUMENTS AS THE ADMINISTRATIVE AGENT, OR ANY LENDER
THROUGH THE ADMINISTRATIVE AGENT, MAY REASONABLY REQUIRE FROM TIME TO TIME IN
ORDER TO (A) CARRY OUT MORE EFFECTIVELY THE PURPOSES OF THE LOAN DOCUMENTS,
(B) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, SUBJECT ANY LOAN PARTY'S
PROPERTIES, ASSETS, RIGHTS OR INTERESTS TO THE LIENS NOW OR HEREAFTER INTENDED
TO BE COVERED BY ANY OF THE COLLATERAL DOCUMENTS (IT BEING UNDERSTOOD THAT SUCH
LIENS ARE NOT INTENDED TO COVER LEASEHOLD INTERESTS IN REAL PROPERTY, TO THE
EXTENT NO LIEN ON SUCH LEASEHOLD INTEREST SECURES ANY OTHER INDEBTEDNESS OF THE
BORROWER OR ANY LOAN PARTY), (C) PERFECT AND MAINTAIN THE VALIDITY,
EFFECTIVENESS AND PRIORITY OF ANY OF THE COLLATERAL DOCUMENTS AND ANY OF THE
LIENS INTENDED TO BE CREATED THEREUNDER AND (D) ASSURE, CONVEY, GRANT, ASSIGN,