A
RELEASE, OMISSION OR DISCHARGE OF ANY HAZARDOUS MATERIALS IN EXCESS OF AMOUNTS
THEREOF PERMITTED PURSUANT TO APPLICABLE ENVIRONMENTAL LAWS.
7.22
NOTICE.
IF BORROWER SHALL RECEIVE ANY OF THE FOLLOWING:
(A)
NOTICE THAT ANY VIOLATION OF ANY LAW OR
ENVIRONMENTAL LAW MAY HAVE BEEN COMMITTED OR IS ABOUT TO BE COMMITTED BY
BORROWER OR OTHERWISE AFFECTING THE IMPROVEMENTS, OR
(B)
NOTICE THAT ANY ADMINISTRATIVE OR JUDICIAL
COMPLAINT OR ORDER HAS BEEN FILED OR IS ABOUT TO BE FILED AGAINST BORROWER, THE
PROPERTY OR THE IMPROVEMENTS ALLEGING VIOLATIONS OF ANY ENVIRONMENTAL LAW OR
REQUIRING BORROWER TO TAKE ANY ACTION IN CONNECTION WITH THE RELEASE OR
THREATENED RELEASE OF HAZARDOUS MATERIALS OR SOLID WASTE INTO THE ENVIRONMENT,
OR
(C)
NOTICE FROM A FEDERAL, STATE, OR LOCAL
GOVERNMENTAL AGENCY OR PRIVATE PARTY ALLEGING THAT BORROWER MAY BE LIABLE OR
RESPONSIBLE FOR COSTS ASSOCIATED WITH A RESPONSE TO OR CLEANUP OF A RELEASE OR
DISPOSAL OF A HAZARDOUS MATERIALS OR SOLID WASTE INTO THE ENVIRONMENT OR ANY
DAMAGES CAUSED THEREBY, INCLUDING WITHOUT LIMITATION ANY NOTICE THAT BORROWER IS
A "POTENTIALLY RESPONSIBLE PARTY" AS DEFINED BY CERCLA, OR
(D)
NOTICE UNDER ANY CONSTRUCTION DOCUMENT THAT
BORROWER IS IN DEFAULT THEREUNDER, OR
(E)
NOTICE UNDER ANY OPERATION DOCUMENT THAT
BORROWER IS IN DEFAULT THEREUNDER, OR
(F)
NOTICE UNDER THE GROUND LEASE THAT
BORROWER IS IN DEFAULT THEREUNDER, OR
(g)
notice of any default under the Subordinated
Loan Agreement, or
(h)
notice of any default under any of the
Grants or any agreement executed in connection therewith,
THEN BORROWER SHALL PROVIDE LENDER WITH A COPY OF SUCH NOTICE WITHIN FIVE
(5) DAYS OF BORROWER'S RECEIPT THEREOF.
IN ADDITION, BORROWER SHALL GIVE PROMPT
NOTICE IN WRITING TO LENDER OF ANY BREACH OF ANY OF THE REPRESENTATIONS,
WARRANTIES OR COVENANTS IN THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY
DEVELOPMENT OR THE OCCURRENCE OF ANY EVENT, FINANCIAL OR OTHERWISE, WHICH
CONSTITUTES A DEFAULT OR EVENT OF DEFAULT OR WHICH CONSTITUTES A MATERIAL
DEFAULT UNDER ANY OTHER AGREEMENT TO WHICH BORROWER IS A PARTY OR WHICH MAY OR
SHALL MATERIALLY AND ADVERSELY AFFECT THE BUSINESS, PROPERTIES OR AFFAIRS OF
BORROWER OR ITS ABILITY TO PAY AND PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT
OR THE OTHER LOAN DOCUMENTS.
7.23
LITIGATION.
BORROWER SHALL ADVISE LENDER WITHIN FIVE
(5) BUSINESS DAYS, IN WRITING, OF ANY ACTIONS, SUITS OR PROCEEDINGS BROUGHT
AGAINST BORROWER, THE PROPERTY OR THE IMPROVEMENTS PRIOR TO FULL PAYMENT OF THE
LOANS, WHERE THE AMOUNT IN DISPUTE IS IN EXCESS OF $50,000.
62
7.24
OTHER INDEBTEDNESS.
BORROWER SHALL NOT INCUR ANY
INDEBTEDNESS OTHER THAN THE PERMITTED INDEBTEDNESS.
7.25
INSPECTION.
(A)
LENDER, OR ANY PERSON DESIGNATED BY LENDER, SHALL
HAVE THE RIGHT, FROM TIME TO TIME HEREAFTER (BUT NOT MORE THAN ONCE PER MONTH
UNLESS A DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING), TO CALL AT
BORROWER'S PLACE OR PLACES OF BUSINESS (OR ANY OTHER PLACE WHERE THE COLLATERAL
OR ANY INFORMATION RELATING THERETO IS KEPT OR LOCATED, INCLUDING BUT NOT
LIMITED TO REG SERVICES AND REG