South Carolina Code of Regulations › Chapter 61 - DEPARTMENT OF HEALTH AND ENVIRONMENTAL CONTROL › Subchapter 61-79 - Hazardous Waste Management Regulations › Part 61-79.261 - IDENTIFICATION AND LISTING OF HAZARDOUS WASTE › Subpart H - FINANCIAL REQUIREMENTS FOR MANAGEMENT OF EXCLUDED HAZARDOUS SECONDARY MATERIALS › Section 61-79.261.H.151 - Wording of the instruments › Appendix G-1

Current through Register Vol. 48, No. 6, June 28, 2024
SOUTH CAROLINA DEPARTMENT OF HEALTH AND ENVIRONMENTAL
						CONTROL BUREAU OF LAND AND WASTE MANAGEMENT
Corporate Guarantee for Facility Care
Guarantee made this [date] by [name of guaranteeing
						entity], a business corporation organized under the laws of South Carolina,
						herein referred to as guarantor. This guarantee is made on behalf of the [owner
						or operator] of [business address], which is [one of the following: "our
						subsidiary"; "a subsidiary of [name and address of common parent corporation],
						of which guarantor is a subsidiary"; or "an entity with which guarantor has a
						substantial business relationship, as defined in sections 264.141(h) and
						265.141(h)" to the South Carolina Department of Health and Environmental
						Control, hereafter referred to as the "Department."
Recitals
1. Guarantor meets or exceeds the financial test criteria
						and agrees to comply with the reporting requirements for guarantors as
						specified in section 261.143(e).
2. [Owner or operator] owns or operates the following
						facility(ies) covered by this guarantee: [List for each facility: EPA
						Identification Number (if any issued), name, and address.]
3. "Closure plans" as used below refer to the plans
						maintained as required by subpart H of R.61-79.261 for the care of facilities
						as identified above.
4. For value received from [owner or operator], guarantor
						guarantees that in the event of a determination by the Department that the
						hazardous secondary materials at the owner or operator's facility covered by
						this guarantee do not meet the conditions of the exclusion under section
						261.4(a)(24), the guarantor will dispose of any hazardous secondary material as
						hazardous waste, and close the facility in accordance with closure requirements
						found in R.61-79.264 or 265 of this chapter, as applicable, or establish a
						trust fund as specified in section 261.143(a) in the name of the owner or
						operator in the amount of the current cost estimate.
5. Guarantor agrees that if, at the end of any fiscal
						year before termination of this guarantee, the guarantor fails to meet the
						financial test criteria, guarantor shall send within ninety (90) days, by
						certified mail, notice to the Department and to [owner or operator] that they
						intend to provide alternate financial assurance as specified in subpart H of
						R.61-79.261, as applicable, in the name of [owner or operator]. Within one
						hundred twenty (120) days after the end of such fiscal year, the guarantor
						shall establish such financial assurance unless [owner or operator] has done
						so.
6. The guarantor agrees to notify the Department by
						certified mail, of a voluntary or involuntary proceeding under Title 11
						(Bankruptcy), U.S. Code, naming guarantor as debtor, within ten (10) days after
						commencement of the proceeding.
7. Guarantor agrees that within thirty (30) days after
						being notified by the Department of a determination that guarantor no longer
						meets the financial test criteria or that they are disallowed from continuing
						as a guarantor, they shall establish alternate financial assurance as specified
						in of R.61-79.264, 265, or subpart H of R.61-79.261, as applicable, in the name
						of [owner or operator] unless [owner or operator] has done so.
8. Guarantor agrees to remain bound under this guarantee
						notwithstanding any or all of the following: amendment or modification of the
						closure plan, the extension or reduction of the time of performance, or any
						other modification or alteration of an obligation of the owner or operator
						pursuant to R.61-79.264, 265, or subpart H of R.61-79.261.
9. Guarantor agrees to remain bound under this guarantee
						for as long as [owner or operator] must comply with the applicable financial
						assurance requirements of R.61-79.264 and 265 or the financial assurance
						condition of section 261.4(a)(24)(vi)(F) for the above-listed facilities,
						except as provided in paragraph 10 of this agreement.
10. [Insert the following language if the guarantor is
						(a) a direct or higher-tier corporate parent, or (b) a firm whose parent
						corporation is also the parent corporation of the owner or operator]:
Guarantor may terminate this guarantee by sending notice
						by certified mail to the Department and to [owner or operator], provided that
						this guarantee may not be terminated unless and until [the owner or operator]
						obtains, and the Department approves, alternate coverage complying with section
						261.143.
[Insert the following language if the guarantor is a firm
						qualifying as a guarantor due to its "substantial business relationship" with
						the owner or operator]:
Guarantor may terminate this guarantee one hundred twenty
						(120) days following the receipt of notification, through certified mail, by
						the Department and by [the owner or operator].
11. Guarantor agrees that if [owner or operator] fails to
						provide alternate financial assurance as specified in R.61-79.264, 265, or
						subpart H of R.61-79.261, as applicable, and obtain written approval of such
						assurance from the Department within ninety (90) days after a notice of
						cancellation by the guarantor is received by the Department from guarantor,
						guarantor shall provide such alternate financial assurance in the name of
						[owner or operator].
12. Guarantor expressly waives notice of acceptance of
						this guarantee by the Department or by [owner or operator]. Guarantor also
						expressly waives notice of amendments or modifications of the closure plan and
						of amendments or modifications of the applicable requirements of R.61-79.264,
						265, or subpart H of R.61-79.261.
I hereby certify that the wording of this guarantee is
						identical to the wording specified in section 261.151 Appendix G-1 as such
						regulations were constituted on the date first above written.
Effective date:
[Name of guarantor]
[Authorized signature for guarantor]
[Name of person signing]
[Title of person signing]
Signature of witness or notary: