SUBSTANCES ON ANY
REAL PROPERTY EXCEPT AS PERMITTED BY APPLICABLE LAW OR APPROPRIATE GOVERNMENTAL
AUTHORITIES.
(B)
BORROWERS SHALL ESTABLISH AND MAINTAIN A SYSTEM TO ASSURE AND MONITOR
CONTINUED COMPLIANCE WITH ALL APPLICABLE ENVIRONMENTAL LAWS WHICH SYSTEM SHALL
INCLUDE PERIODIC REVIEWS OF SUCH COMPLIANCE.
(C)
BORROWERS SHALL (I) EMPLOY IN CONNECTION WITH THE USE OF THE REAL
PROPERTY APPROPRIATE TECHNOLOGY NECESSARY TO MAINTAIN COMPLIANCE WITH ANY
APPLICABLE ENVIRONMENTAL LAWS AND (II) DISPOSE OF ANY AND ALL HAZARDOUS WASTE
GENERATED AT THE REAL PROPERTY ONLY AT FACILITIES AND WITH CARRIERS THAT
MAINTAIN VALID PERMITS UNDER RCRA AND ANY OTHER APPLICABLE ENVIRONMENTAL LAWS.
BORROWERS SHALL USE THEIR BEST EFFORTS TO OBTAIN CERTIFICATES OF DISPOSAL, SUCH
AS HAZARDOUS WASTE MANIFEST RECEIPTS, FROM ALL TREATMENT, TRANSPORT, STORAGE OR
DISPOSAL FACILITIES OR OPERATORS EMPLOYED BY BORROWERS IN CONNECTION WITH THE
TRANSPORT OR DISPOSAL OF ANY HAZARDOUS WASTE GENERATED AT THE REAL PROPERTY.
(D)
IN THE EVENT ANY BORROWER OBTAINS, GIVES OR RECEIVES NOTICE OF ANY
RELEASE OR THREAT OF RELEASE OF A REPORTABLE QUANTITY OF ANY HAZARDOUS
SUBSTANCES AT THE REAL PROPERTY (ANY SUCH EVENT BEING HEREINAFTER REFERRED TO AS
A "HAZARDOUS DISCHARGE") OR RECEIVES ANY NOTICE OF VIOLATION, REQUEST FOR
INFORMATION OR NOTIFICATION THAT IT IS POTENTIALLY RESPONSIBLE FOR INVESTIGATION
OR CLEANUP OF ENVIRONMENTAL CONDITIONS AT THE REAL PROPERTY, DEMAND LETTER OR
COMPLAINT, ORDER, CITATION, OR OTHER WRITTEN NOTICE WITH REGARD TO ANY HAZARDOUS
DISCHARGE OR VIOLATION OF ENVIRONMENTAL LAWS AFFECTING THE REAL PROPERTY OR ANY
BORROWER'S INTEREST THEREIN (ANY OF THE FOREGOING IS REFERRED TO HEREIN AS AN
"ENVIRONMENTAL COMPLAINT") FROM ANY PERSON,
58
INCLUDING ANY STATE AGENCY RESPONSIBLE IN WHOLE OR IN PART FOR ENVIRONMENTAL
MATTERS IN THE STATE IN WHICH THE REAL PROPERTY IS LOCATED OR THE UNITED STATES
ENVIRONMENTAL PROTECTION AGENCY (ANY SUCH PERSON OR ENTITY HEREINAFTER THE
"AUTHORITY"), THEN BORROWING AGENT SHALL, WITHIN FIVE (5) BUSINESS DAYS, GIVE
WRITTEN NOTICE OF SAME TO AGENT DETAILING FACTS AND CIRCUMSTANCES OF WHICH ANY
BORROWER IS AWARE GIVING RISE TO THE HAZARDOUS DISCHARGE OR ENVIRONMENTAL
COMPLAINT.
SUCH INFORMATION IS TO BE PROVIDED TO ALLOW AGENT TO PROTECT ITS
SECURITY INTEREST IN AND LIEN ON THE REAL PROPERTY AND THE COLLATERAL AND IS NOT
INTENDED TO CREATE NOR SHALL IT CREATE ANY OBLIGATION UPON AGENT OR ANY LENDER
WITH RESPECT THERETO.
(E)
BORROWING AGENT SHALL PROMPTLY FORWARD TO AGENT COPIES OF ANY REQUEST FOR
INFORMATION, NOTIFICATION OF POTENTIAL LIABILITY, DEMAND LETTER RELATING TO
POTENTIAL RESPONSIBILITY WITH RESPECT TO THE INVESTIGATION OR CLEANUP OF
HAZARDOUS SUBSTANCES AT ANY OTHER SITE OWNED, OPERATED OR USED BY ANY BORROWER
TO DISPOSE OF HAZARDOUS SUBSTANCES AND SHALL CONTINUE TO FORWARD COPIES OF
CORRESPONDENCE BETWEEN ANY BORROWER AND THE AUTHORITY REGARDING SUCH CLAIMS TO
AGENT UNTIL THE CLAIM IS SETTLED.
BORROWING AGENT SHALL PROMPTLY FORWARD TO
AGENT COPIES OF ALL DOCUMENTS AND REPORTS CONCERNING A HAZARDOUS DISCHARGE AT
THE REAL PROPERTY THAT ANY BORROWER IS REQUIRED TO FILE UNDER ANY ENVIRONMENTAL
LAWS.
SUCH INFORMATION IS TO BE PROVIDED SOLELY TO ALLOW AGENT TO PROTECT
AGENT'S SECURITY INTEREST IN