LETTER OR COMPLAINT, ORDER, CITATION, OR OTHER
WRITTEN NOTICE WITH REGARD TO ANY HAZARDOUS DISCHARGE OR MATERIAL VIOLATION OF
ENVIRONMENTAL LAWS ONTO OR REGARDING THE REAL PROPERTY OR ANY BORROWER'S
INTEREST THEREIN (ANY OF THE FOREGOING IS REFERRED TO HEREIN AS AN
"ENVIRONMENTAL COMPLAINT") FROM ANY PERSON, 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 TEN (15) BUSINESS DAYS, GIVE WRITTEN NOTICE OF SAME TO AGENT
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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
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 KEEP AGENT REASONABLY INFORMED AND CURRENT
WITH RESPECT TO ANY HAZARDOUS DISCHARGE OR ENVIRONMENTAL COMPLAINT AND PROVIDE
AGENT WITH COPIES OF MATERIAL CORRESPONDENCE, DOCUMENTS AND REPORTS CONCERNING
THE HAZARDOUS DISCHARGE OR ENVIRONMENTAL COMPLAINT..
SUCH INFORMATION IS TO BE
PROVIDED SOLELY TO ALLOW AGENT TO PROTECT AGENT'S SECURITY INTEREST IN AND LIEN
ON THE COLLATERAL.
(F)
BORROWERS SHALL RESPOND PROMPTLY TO ANY HAZARDOUS DISCHARGE OR
ENVIRONMENTAL COMPLAINT AND TAKE ALL REASONABLY NECESSARY ACTION IN ORDER TO
SAFEGUARD THE HEALTH OF ANY PERSON AND TO AVOID SUBJECTING THE COLLATERAL OR
REAL PROPERTY TO ANY LIEN.
IF ANY BORROWER SHALL FAIL TO RESPOND PROMPTLY TO
ANY HAZARDOUS DISCHARGE OR ENVIRONMENTAL COMPLAINT OR ANY BORROWER SHALL FAIL TO
COMPLY WITH ANY OF THE REQUIREMENTS OF ANY ENVIRONMENTAL LAWS THAT COULD
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT ON ANY LENDER, AGENT ON
BEHALF OF LENDERS MAY, BUT WITHOUT THE OBLIGATION TO DO SO, FOR THE SOLE PURPOSE
OF PROTECTING AGENT'S INTEREST IN THE COLLATERAL:
(I) GIVE SUCH NOTICES OR
(II) ENTER ONTO THE REAL PROPERTY (OR AUTHORIZE THIRD PARTIES TO ENTER ONTO THE
REAL PROPERTY) AND TAKE SUCH ACTIONS AS AGENT (OR SUCH THIRD PARTIES AS DIRECTED
BY AGENT) DEEM REASONABLY NECESSARY OR ADVISABLE, TO CLEAN UP, REMOVE, MITIGATE
OR OTHERWISE DEAL WITH ANY SUCH HAZARDOUS DISCHARGE OR ENVIRONMENTAL COMPLAINT.
ALL REASONABLE COSTS AND EXPENSES INCURRED BY AGENT AND LENDERS (OR SUCH THIRD
PARTIES) IN THE EXERCISE OF ANY SUCH RIGHTS, INCLUDING ANY SUMS PAID IN
CONNECTION WITH ANY JUDICIAL OR ADMINISTRATIVE INVESTIGATION OR PROCEEDINGS,
FINES AND PENALTIES, TOGETHER WITH INTEREST THEREON FROM THE DATE EXPENDED AT
THE DEFAULT RATE FOR DOMESTIC RATE LOANS CONSTITUTING REVOLVING ADVANCES SHALL
BE PAID UPON DEMAND BY BORROWERS, AND UNTIL PAID SHALL BE ADDED TO AND BECOME A
PART OF THE OBLIGATIONS SECURED BY THE LIENS CREATED BY THE TERMS OF THIS
AGREEMENT OR ANY OTHER AGREEMENT BETWEEN AGENT, ANY LENDER AND ANY BORROWER.
(G)
PROMPTLY UPON THE WRITTEN REQUEST OF AGENT FROM TIME TO TIME BUT
NO MORE FREQUENTLY