SHALL ENSURE THAT THE REAL PROPERTY REMAINS IN
COMPLIANCE IN ALL MATERIAL RESPECTS, WITH ALL ENVIRONMENTAL LAWS AND THEY SHALL
NOT PLACE OR PERMIT TO BE PLACED ANY HAZARDOUS SUBSTANCES ON ANY REAL PROPERTY
EXCEPT AS NOT PROHIBITED BY APPLICABLE LAW OR APPROPRIATE GOVERNMENTAL
AUTHORITIES.
(B)
LOAN PARTIES 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.
48
(C)
LOAN PARTIES SHALL 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.
LOAN PARTIES 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 LOAN PARTIES IN
CONNECTION WITH THE TRANSPORT OR DISPOSAL OF ANY HAZARDOUS WASTE GENERATED AT
THE REAL PROPERTY.
(D)
IN THE EVENT ANY LOAN PARTY 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
LOAN PARTY'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 LOAN
PARTIES SHALL, WITHIN FIVE (5) BUSINESS DAYS, GIVE WRITTEN NOTICE OF SAME TO
AGENT DETAILING FACTS AND CIRCUMSTANCES OF WHICH ANY LOAN PARTY 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 THE REAL
PROPERTY AND IS NOT INTENDED TO CREATE NOR SHALL IT CREATE ANY OBLIGATION UPON
AGENT OR ANY LENDER OR TERM LENDER WITH RESPECT THERETO.
(E)
LOAN PARTIES 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 LOAN PARTY
TO DISPOSE OF HAZARDOUS SUBSTANCES AND SHALL CONTINUE TO FORWARD COPIES OF
CORRESPONDENCE BETWEEN ANY LOAN PARTY AND THE AUTHORITY REGARDING SUCH CLAIMS TO
AGENT UNTIL THE CLAIM IS SETTLED.
LOAN PARTIES SHALL PROMPTLY FORWARD TO AGENT
COPIES OF ALL DOCUMENTS AND REPORTS CONCERNING A HAZARDOUS DISCHARGE AT THE REAL
PROPERTY THAT ANY LOAN PARTY IS REQUIRED TO FILE UNDER ANY ENVIRONMENTAL LAWS.
SUCH INFORMATION IS