AGENT OR THE
COLLATERAL TRUSTEE, IN EACH CASE IN ITS SOLE DISCRETION, TO THE ADMINISTRATIVE
AGENT OR THE COLLATERAL TRUSTEE, AS THE CASE MAY BE, WITH RESPECT TO EACH PARCEL
OF REAL PROPERTY OWNED BY THE ENTITY THAT IS THE SUBJECT OF SUCH FORMATION OR
ACQUISITION TITLE REPORTS, SURVEYS AND ENGINEERING, SOILS AND OTHER REPORTS,
PROPERTY CONDITION ASSESSMENTS AND ENVIRONMENTAL ASSESSMENT REPORTS, EACH IN
SCOPE, FORM AND SUBSTANCE SATISFACTORY TO THE ADMINISTRATIVE AGENT OR THE
COLLATERAL TRUSTEE, AS THE CASE MAY BE, PROVIDED, HOWEVER, THAT TO THE EXTENT
THAT ANY LOAN PARTY SHALL HAVE OTHERWISE RECEIVED ANY OF THE FOREGOING ITEMS
WITH RESPECT TO SUCH REAL PROPERTY, SUCH ITEMS SHALL, PROMPTLY AFTER THE RECEIPT
THEREOF, BE DELIVERED TO THE ADMINISTRATIVE AGENT OR THE COLLATERAL TRUSTEE, AS
THE CASE MAY BE.
(B)
UPON THE ACQUISITION OF ANY PROPERTY BY ANY LOAN PARTY, IF SUCH
PROPERTY, IN THE REASONABLE JUDGMENT OF THE ADMINISTRATIVE AGENT, SHALL NOT
ALREADY BE SUBJECT TO A PERFECTED FIRST PRIORITY SECURITY INTEREST (SUBJECT TO
LIENS PERMITTED PURSUANT TO SECTION 7.01(I)) IN FAVOR OF THE ADMINISTRATIVE
AGENT (FOR THE BENEFIT OF THE SECURED PARTIES) WITH RESPECT TO FIRST PRIORITY
COLLATERAL OR IN FAVOR OF THE COLLATERAL TRUSTEE (FOR THE BENEFIT OF THE SECURED
PARTIES REFERRED TO IN THE COLLATERAL AGENCY AGREEMENT) WITH RESPECT TO PARI
PASSU COLLATERAL, THEN BORROWER SHALL, AT BORROWER'S EXPENSE:
WITHIN 10 DAYS
AFTER SUCH ACQUISITION, FURNISH TO THE ADMINISTRATIVE AGENT AND THE COLLATERAL
TRUSTEE A DESCRIPTION OF THE PROPERTY SO ACQUIRED IN DETAIL SATISFACTORY TO THE
ADMINISTRATIVE AGENT AND THE COLLATERAL TRUSTEE, AND THEREAFTER WITHIN THE
RESPECTIVE TIME PERIODS SET FORTH IN SECTION 6.12(A)(III)-(A)(VI), TAKE ALL
RESPECTIVE ACTIONS SET FORTH IN EACH SUCH SUBSECTION WITH RESPECT TO SUCH
PROPERTY TO THE EXTENT SUCH LOAN PARTY IS ABLE TO DO SO WITHOUT VIOLATING THE
AGREEMENT EVIDENCING THE CAPITALIZED LEASES, SYNTHETIC LEASE OBLIGATIONS AND
PURCHASE MONEY OBLIGATIONS REFERRED TO IN SECTION 7.01(I),
(C)
AT ANY TIME UPON REQUEST OF THE ADMINISTRATIVE AGENT, PROMPTLY
EXECUTE AND DELIVER ANY AND ALL FURTHER INSTRUMENTS AND DOCUMENTS AND TAKE ALL
SUCH OTHER ACTION AS THE ADMINISTRATIVE AGENT MAY DEEM NECESSARY OR DESIRABLE IN
OBTAINING THE FULL BENEFITS OF, OR (AS APPLICABLE) IN PERFECTING AND PRESERVING
THE LIENS OF, SUCH GUARANTIES, DEEDS OF TRUST, TRUST DEEDS, DEEDS TO SECURE
DEBT, MORTGAGES, LEASEHOLD MORTGAGES, LEASEHOLD DEEDS OF TRUST, AND OTHER
SECURITY AND PLEDGE AGREEMENTS.
78
SECTION 6.13
COMPLIANCE WITH ENVIRONMENTAL LAWS.
COMPLY, AND CAUSE ALL
LESSEES AND OTHER PERSONS OPERATING OR OCCUPYING ITS PROPERTIES TO COMPLY, IN
ALL MATERIAL RESPECTS, WITH ALL APPLICABLE ENVIRONMENTAL LAWS AND ENVIRONMENTAL
PERMITS; OBTAIN AND RENEW ALL ENVIRONMENTAL PERMITS NECESSARY FOR ITS OPERATIONS
AND PROPERTIES; AND CONDUCT ANY INVESTIGATION, STUDY, SAMPLING AND TESTING, AND
UNDERTAKE ANY CLEANUP, REMOVAL, REMEDIAL OR OTHER ACTION NECESSARY TO REMOVE AND
CLEAN UP ALL HAZARDOUS MATERIALS FROM ANY OF ITS PROPERTIES, IN ACCORDANCE WITH
THE REQUIREMENTS OF ALL ENVIRONMENTAL LAWS; PROVIDED, HOWEVER, THAT NEITHER
BORROWER NOR ANY OF ITS SUBSIDIARIES SHALL BE REQUIRED TO UNDERTAKE ANY SUCH
CLEANUP, REMOVAL, REMEDIAL OR OTHER