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 will, in the Agent’s reasonable opinion, cost in excess of $500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties, will, in the Agent’s reasonable opinion cost in excess of $1,000,000 in the aggregate to remediate. Disqualifying Structural Event. Any structural issue which, with respect to any Eligible Unencumbered Property, will, in the Agent’s reasonable opinion, cost in excess of $500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties, will, in the Agent’s reasonable opinion cost in excess of $1,000,000 in the aggregate to remediate.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Hartman Commercial Properties Reit), Revolving Credit Agreement (First Potomac Realty Trust)