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.
47
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 TO BE
PROVIDED SOLELY TO ALLOW AGENT TO PROTECT AGENT'S SECURITY INTEREST IN THE REAL
PROPERTY AND THE COLLATERAL.
(F)
LOAN PARTIES SHALL RESPOND PROMPTLY TO
ANY HAZARDOUS DISCHARGE OR ENVIRONMENTAL COMPLAINT AND TAKE ALL NECESSARY ACTION
IN ORDER TO AVOID OR MITIGATE ANY LIABILITY THEREFROM THAT WOULD HAVE A MATERIAL
ADVERSE EFFECT AND TO AVOID SUBJECTING THE COLLATERAL OR REAL PROPERTY TO ANY
LIEN.
IF ANY LOAN PARTY SHALL FAIL TO RESPOND PROMPTLY TO ANY HAZARDOUS
DISCHARGE OR ENVIRONMENTAL COMPLAINT AFTER DEMAND FROM AGENT OR ANY LOAN PARTY
SHALL FAIL TO COMPLY WITH ANY OF THE REQUIREMENTS OF ANY ENVIRONMENTAL LAWS