IN BUSINESS OR A TRANSACTION, FOR WHICH ITS PROPERTY WOULD CONSTITUTE
UNREASONABLY SMALL CAPITAL.
9.15
ENVIRONMENTAL MATTERS.
THE ON-GOING OPERATIONS
OF EACH LOAN PARTY COMPLY IN ALL RESPECTS WITH ALL ENVIRONMENTAL LAWS, EXCEPT
SUCH NON-COMPLIANCE WHICH COULD NOT (IF ENFORCED IN ACCORDANCE WITH APPLICABLE
LAW) REASONABLY BE EXPECTED TO RESULT, EITHER INDIVIDUALLY OR IN THE AGGREGATE,
IN A MATERIAL ADVERSE EFFECT.
EACH LOAN PARTY HAS OBTAINED, AND MAINTAINED IN
GOOD STANDING, ALL LICENSES, PERMITS, AUTHORIZATIONS, REGISTRATIONS AND OTHER
APPROVALS REQUIRED UNDER ANY ENVIRONMENTAL LAW AND REQUIRED FOR THEIR RESPECTIVE
ORDINARY COURSE OPERATIONS, AND FOR THEIR REASONABLY ANTICIPATED FUTURE
OPERATIONS, AND EACH LOAN PARTY IS IN COMPLIANCE WITH ALL TERMS AND CONDITIONS
THEREOF, EXCEPT WHERE THE FAILURE TO DO SO COULD NOT REASONABLY BE EXPECTED TO
RESULT IN MATERIAL LIABILITY TO ANY LOAN PARTY AND COULD NOT REASONABLY BE
EXPECTED TO RESULT, EITHER INDIVIDUALLY OR IN THE AGGREGATE, IN A MATERIAL
ADVERSE EFFECT.
NO LOAN PARTY OR ANY OF ITS PROPERTIES OR OPERATIONS IS SUBJECT
TO, OR REASONABLY ANTICIPATES THE ISSUANCE OF, ANY WRITTEN ORDER FROM OR
AGREEMENT WITH ANY FEDERAL, STATE OR LOCAL GOVERNMENTAL AUTHORITY, NOR SUBJECT
TO ANY JUDICIAL OR DOCKETED ADMINISTRATIVE OR OTHER PROCEEDING, RESPECTING ANY
ENVIRONMENTAL LAW, ENVIRONMENTAL CLAIM OR HAZARDOUS SUBSTANCE.
THERE ARE NO
HAZARDOUS SUBSTANCES OR OTHER CONDITIONS OR CIRCUMSTANCES EXISTING WITH RESPECT
TO ANY PROPERTY, ARISING FROM OPERATIONS PRIOR TO THE CLOSING DATE, OR RELATING
TO ANY WASTE DISPOSAL, OF ANY LOAN PARTY THAT WOULD REASONABLY BE EXPECTED TO
RESULT, EITHER INDIVIDUALLY OR IN THE AGGREGATE, IN A MATERIAL ADVERSE EFFECT.
NO LOAN PARTY HAS ANY UNDERGROUND STORAGE TANKS THAT ARE NOT PROPERLY REGISTERED
OR PERMITTED UNDER APPLICABLE ENVIRONMENTAL LAWS OR THAT AT ANY TIME HAVE
RELEASED, LEAKED, DISPOSED OF OR OTHERWISE DISCHARGED HAZARDOUS SUBSTANCES.
9.16
INSURANCE.
SET FORTH ON SCHEDULE 9.16 IS A
COMPLETE AND ACCURATE SUMMARY OF THE PROPERTY AND CASUALTY INSURANCE PROGRAM OF
THE LOAN PARTIES AS OF THE CLOSING DATE (INCLUDING THE NAMES OF ALL INSURERS,
POLICY NUMBERS, EXPIRATION DATES, AMOUNTS AND TYPES OF COVERAGE, ANNUAL
PREMIUMS, EXCLUSIONS, DEDUCTIBLES, SELF-INSURED RETENTION, AND A DESCRIPTION IN
REASONABLE DETAIL OF ANY SELF-INSURANCE PROGRAM, RETROSPECTIVE RATING PLAN,
FRONTING ARRANGEMENT OR OTHER RISK ASSUMPTION ARRANGEMENT INVOLVING ANY LOAN
PARTY).
EACH LOAN PARTY AND ITS PROPERTIES ARE INSURED WITH FINANCIALLY SOUND
AND REPUTABLE INSURANCE COMPANIES WHICH ARE NOT AFFILIATES OF THE LOAN PARTIES,
IN SUCH AMOUNTS, WITH SUCH DEDUCTIBLES AND COVERING SUCH RISKS AS ARE
CUSTOMARILY CARRIED BY COMPANIES ENGAGED IN SIMILAR BUSINESSES AND OWNING
SIMILAR PROPERTIES IN LOCALITIES WHERE SUCH LOAN PARTIES OPERATE.
9.17
REAL PROPERTY.
SET FORTH ON SCHEDULE 9.17 IS A
COMPLETE AND ACCURATE LIST, AS OF THE CLOSING DATE, OF THE ADDRESS OF ALL REAL
PROPERTY OWNED OR LEASED BY ANY LOAN PARTY, TOGETHER WITH, IN THE CASE OF LEASED
PROPERTY, THE NAME AND MAILING ADDRESS OF THE LESSOR OF SUCH PROPERTY.
9.18
INFORMATION.
ALL INFORMATION HERETOFORE OR
CONTEMPORANEOUSLY HEREWITH FURNISHED IN WRITING BY ANY LOAN PARTY TO THE
ADMINISTRATIVE AGENT OR ANY LENDER FOR PURPOSES OF OR IN CONNECTION WITH