ENVIRONMENTAL LAW.
(II)
EXCEPT IN MATERIAL COMPLIANCE WITH APPLICABLE ENVIRONMENTAL LAWS,
(A) THERE ARE NO ASBESTOS-CONTAINING MATERIALS PRESENT ON ANY TARGET PROPERTY,
(B) THERE ARE NO REGULATED LEVELS OF PCBS PRESENT ON ANY TARGET PROPERTY, AND
(C) THERE ARE NO UNDERGROUND STORAGE TANKS, ACTIVE OR ABANDONED, USED FOR THE
STORAGE OF HAZARDOUS MATERIALS CURRENTLY PRESENT ON ANY TARGET PROPERTY.
(III)
NONE OF TARGET, NPI OR ANY TARGET SUBSIDIARY HAS RECEIVED WRITTEN
NOTICE OF A CLAIM AGAINST ANY OF THEM, THAT HAS NOT BEEN RESOLVED, TO THE EFFECT
THAT IT IS LIABLE TO A THIRD PARTY, INCLUDING A GOVERNMENTAL ENTITY, AS A RESULT
OF A RELEASE OF A
33
HAZARDOUS MATERIAL INTO THE ENVIRONMENT IN MATERIAL VIOLATION OF ANY APPLICABLE
ENVIRONMENTAL LAW AT ANY TARGET PROPERTY NOR HAS ANY REASON TO BELIEVE SUCH A
CLAIM IS EXPECTED.
(IV)
NONE OF THE TARGET GROUP HAS RECEIVED WRITTEN NOTICE OF (A) ANY
LIENS ARISING UNDER OR PURSUANT TO ANY APPLICABLE ENVIRONMENTAL LAW ON ANY
TARGET PROPERTY OR (B) ANY ACTION TAKEN OR IN PROCESS WHICH COULD SUBJECT ANY
TARGET PROPERTY TO SUCH LIENS.
THE TARGET GROUP CURRENTLY DOES NOT HAVE ANY
DUTY UNDER ANY APPLICABLE ENVIRONMENTAL LAW TO PLACE ANY RESTRICTION RELATING TO
THE PRESENCE OF HAZARDOUS MATERIAL AT ANY TARGET PROPERTY WHICH HAVE NOT ALREADY
BEEN PLACED.
(V)
NONE OF THE TARGET GROUP HAS TRANSPORTED OR ARRANGED FOR THE
TRANSPORTATION OF ANY HAZARDOUS MATERIAL TO ANY LOCATION WHICH IS THE SUBJECT OF
ANY ACTION, SUIT OR PROCEEDING THAT COULD BE REASONABLY EXPECTED TO RESULT IN
CLAIMS AGAINST THE TARGET GROUP RELATED TO SUCH HAZARDOUS MATERIAL FOR CLEAN-UP
COSTS, REMEDIAL WORK, DAMAGES TO NATURAL RESOURCES OR PERSONAL INJURY CLAIMS,
INCLUDING CLAIMS UNDER CERCLA AND THE RULES AND REGULATIONS PROMULGATED
THEREUNDER AND, TO THE KNOWLEDGE OF TARGET, THERE IS NO REASONABLE BASIS FOR
SUCH CLAIM.
(VI)
NO HAZARDOUS MATERIALS HAVE BEEN OR ARE THREATENED TO BE SPILLED,
RELEASED, DISCHARGED OR DISPOSED OF AT ANY SITE PRESENTLY OR FORMERLY OWNED,
OPERATED, LEASED OR USED BY THE TARGET GROUP, OR, TO THE KNOWLEDGE OF TARGET,
ARE PRESENT IN THE SOIL, SEDIMENT, WATER OR GROUNDWATER AT ANY SUCH SITE.
NO
TARGET PROPERTY IS LISTED OR PROPOSED FOR LISTING ON THE NATIONAL PRIORITIES
LIST PROMULGATED PURSUANT TO CERCLA OR ON ANY SIMILAR LIST OF SITES UNDER ANY
APPLICABLE ENVIRONMENTAL LAW OF ANY OTHER GOVERNMENTAL ENTITY WHERE SUCH LISTING
REQUIRES ACTIVE INVESTIGATION OR CLEAN-UP.
(VII)
NONE OF THE TARGET GROUP HAS IN ITS POSSESSION OR CONTROL ANY
ENVIRONMENTAL ASSESSMENT OR INVESTIGATION REPORTS PREPARED WITHIN THE LAST FIVE
YEARS THAT DISCLOSE A MATERIAL ENVIRONMENTAL CONDITION WITH RESPECT TO THE
TARGET PROPERTIES WHICH HAS NOT BEEN ADDRESSED OR REMEDIATED (OR IS NOT IN THE
PROCESS OF BEING REMEDIATED) OR BEEN MADE THE SUBJECT OF AN ENVIRONMENTAL
INSURANCE POLICY MAINTAINED BY THE TARGET GROUP.
(VIII)
EXCEPT AS SET FORTH IN SECTION 6.02(J)(VIII) OF THE TARGET
DISCLOSURE LETTER, TARGET HAS NOT ENTERED INTO ANY AGREEMENTS TO PROVIDE
INDEMNIFICATION TO ANY THIRD PARTY PURCHASER SINCE JANUARY 1, 2003, OR TO ANY
LENDER WITH