REQUIRED BY LENDER OR THE TERMS OF ANY CREDIT FACILITY TO WHICH
LANDLORD IS BOUND, (IV) IF AN EVENT OF DEFAULT EXISTS, OR (V) AT ANY OTHER TIME
THAT, IN THE OPINION OF LANDLORD OR LENDER, A REASONABLE BASIS EXISTS TO BELIEVE
THAT AN ENVIRONMENTAL VIOLATION OR ANY CONDITION THAT COULD REASONABLY BE
EXPECTED TO RESULT IN ANY ENVIRONMENTAL VIOLATION EXISTS(PROVIDED THAT, WITH
RESPECT TO THIS CLAUSE (V), LANDLORD SHALL GIVE TENANT TEN (10) DAYS PRIOR
WRITTEN NOTICE OF SUCH OPINION PRIOR TO CAUSING A SITE ASSESSMENT TO BE
PERFORMED).
SUCH SITE ASSESSMENTS MAY INCLUDE BOTH ABOVE AND BELOW THE GROUND
TESTING FOR ENVIRONMENTAL VIOLATIONS AND SUCH OTHER TESTS AS MAY BE NECESSARY,
IN THE OPINION OF THE SITE REVIEWERS, TO CONDUCT THE SITE ASSESSMENTS.
TENANT
SHALL SUPPLY TO THE SITE REVIEWERS SUCH HISTORICAL AND OPERATIONAL INFORMATION
REGARDING THE LEASED PREMISES AS MAY BE REASONABLY REQUESTED BY THE SITE
REVIEWERS TO FACILITATE THE SITE ASSESSMENTS, AND SHALL MAKE AVAILABLE FOR
MEETINGS WITH THE SITE REVIEWERS APPROPRIATE PERSONNEL HAVING KNOWLEDGE OF SUCH
MATTERS.
THE COST OF PERFORMING AND REPORTING SITE ASSESSMENTS SHALL BE PAID BY
TENANT UNDER CLAUSE (I) ABOVE, IF SUCH SALE IS TO TENANT OR ANY AFFILIATE OR
DESIGNEE THEREOF; UNDER CLAUSE (II) ABOVE, BUT ONLY ONE (1) TIME; AND UNDER
CLAUSES (IV) AND (V) ABOVE, BUT ONLY IF AN ENVIRONMENTAL VIOLATION IS ACTUALLY
DISCOVERED AND, IN ALL OTHER INSTANCES, THE COST OF PERFORMING AND REPORTING
SITE ASSESSMENTS SHALL BE PAID BY LANDLORD.
21
(D)
IF AN ENVIRONMENTAL VIOLATION OCCURS OR IS FOUND TO EXIST AND, IN
LANDLORD'S REASONABLE JUDGMENT, THE COST OF REMEDIATION OF, OR OTHER RESPONSE
ACTION WITH RESPECT TO, THE SAME IS LIKELY TO EXCEED THE THRESHOLD AMOUNT,
TENANT SHALL PROVIDE TO LANDLORD, WITHIN TEN (10) DAYS AFTER LANDLORD'S REQUEST
THEREFOR, FINANCIAL ASSURANCES THAT TENANT HAS (OR THAT GUARANTOR WILL PROVIDE)
ADEQUATE FINANCIAL WHEREWITHAL TO EFFECT SUCH REMEDIATION IN ACCORDANCE WITH
APPLICABLE ENVIRONMENTAL LAWS.
SUCH FINANCIAL ASSURANCES MAY, AT THE REQUEST OF
LANDLORD, BE A BOND OR LETTER OF CREDIT REASONABLY SATISFACTORY TO LANDLORD IN
FORM AND SUBSTANCE AND IN AN AMOUNT EQUAL TO OR GREATER THAN LANDLORD'S
REASONABLE ESTIMATE (BASED UPON THE REPORT OF A REPUTABLE THIRD PARTY
CONTRACTOR), BASED UPON A SITE ASSESSMENT PERFORMED PURSUANT TO PARAGRAPH 10(C),
OF THE ANTICIPATED COST OF SUCH REMEDIAL ACTION.
(E)
NOTWITHSTANDING ANY OTHER PROVISION OF THIS LEASE, IF AN
ENVIRONMENTAL VIOLATION OCCURS OR IS FOUND TO EXIST AND THE TERM WOULD OTHERWISE
TERMINATE OR EXPIRE, THEN, IF THE EXISTENCE OF SUCH ENVIRONMENTAL VIOLATION
IMPAIRS LANDLORD'S ABILITY TO RETENANT THE LEASED PREMISES IN ANY MATERIAL
RESPECT, AT THE OPTION OF LANDLORD, THE TERM SHALL BE AUTOMATICALLY EXTENDED
BEYOND THE DATE OF TERMINATION OR EXPIRATION AND THIS LEASE SHALL REMAIN IN FULL
FORCE AND EFFECT BEYOND SUCH DATE UNTIL THE EARLIER TO OCCUR OF (I) THE
COMPLETION OF SUCH REMEDIAL ACTION IN ACCORDANCE WITH APPLICABLE ENVIRONMENTAL
LAWS TO THE EXTENT NECESSARY TO REMOVE ANY IMPAIRMENT TO LANDLORD'S ABILITY TO
RETENANT THE LEASED PREMISES, OR (II) THE DATE SPECIFIED