Disqualifying Environmental Event. Any Release or threatened Release of Hazardous Substances, any violation of Environmental Laws or any other similar environmental event with respect to any Eligible Unencumbered Property that could reasonably be expected to cost in excess of $2,500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties, could reasonably be expected to cost in excess of $5,000,000 in the aggregate to remediate. Disqualifying Structural Event. Any structural issue which, with respect to any Eligible Unencumbered Property, could reasonably be expected to cost in excess of $2,500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties, could reasonably be expected to cost in excess of $5,000,000 in the aggregate to remediate.
Appears in 2 contracts
Sources: Term Loan Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust)
Disqualifying Environmental Event. Any Release or threatened Release of Hazardous Substances, any violation of Environmental Laws or any other similar environmental event with respect to any Eligible Unencumbered Borrowing Base Property that could reasonably be expected to cost in excess of $2,500,000 500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Borrowing Base Properties, could reasonably be expected to cost in excess of $5,000,000 1,000,000 in the aggregate to remediate. Disqualifying Structural Event. Any structural issue which, with respect to any Eligible Unencumbered Borrowing Base Property, could reasonably be expected to cost in excess of $2,500,000 500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Borrowing Base Properties, could reasonably be expected to cost in excess of $5,000,000 1,000,000 in the aggregate to remediate.
Appears in 2 contracts
Sources: Secured Term Loan Agreement (First Potomac Realty Trust), Secured Term Loan Agreement (First Potomac Realty Trust)
Disqualifying Environmental Event. Any Release or threatened Release of Hazardous Substances, any violation of Environmental Laws or any other similar environmental event with respect to any Eligible Unencumbered Property that could reasonably be expected to cost in excess of $2,500,000 500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties, could reasonably be expected to cost in excess of $5,000,000 1,000,000 in the aggregate to remediate. Disqualifying Structural Event. Any structural issue which, with respect to any Eligible Unencumbered Property, could reasonably be expected to cost in excess of $2,500,000 500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties, could reasonably be expected to cost in excess of $5,000,000 1,000,000 in the aggregate to remediate.
Appears in 1 contract
Sources: Revolving Credit Agreement (First Potomac Realty Trust)