Common use of Disqualifying Environmental Event Clause in Contracts

Disqualifying Environmental Event. Any actual release of Hazardous Substances or any violation of Environmental Laws or any other environmental event with respect to any Borrowing Base Property or real estate securing a Borrowing Base Loan that could reasonably be expected to cost in excess of $500,000 to remediate or, which, with respect to all of the Borrowing Base Assets, 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 Borrowing Base Property or real estate securing a Borrowing Base Loan, could reasonably be expected to cost in excess of $500,000 to remediate or repair or, which, with respect to all of the Borrowing Base Assets, could reasonably be expected to cost in excess of $2,000,000 in the aggregate to remediate or repair.