Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly: (a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder; (b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint); (c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder; (d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and (e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”). (ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto: (a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property; (b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property; (c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list; (d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA; (e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property; (f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law; (g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and (h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 6 contracts
Sources: Omnibus Option Agreement (Eagle Hospitality Properties Trust, Inc.), Omnibus Option Agreement (Eagle Hospitality Properties Trust, Inc.), Omnibus Option Agreement (Eagle Hospitality Properties Trust, Inc.)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO ClosingCLOSING, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto Purchaser (collectively, “Environmental Reports”"ENVIRONMENTAL REPORTS"), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “"hazardous waste,” “" "underground storage tanks,” “" "petroleum,” “" "regulated substance,” " or “"used oil” " as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇U.S.C. Section 6901, et seq.), as amended (“"RCRA”"), or by any regulations promulgated thereunder;
(b) any “"hazardous substance” " as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § Section 9601, et seq.), as amended (“"CERCLA”"), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-lead based paint);.
(c) any “"oil” " or other “"hazardous substance” " as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”"ENVIRONMENTAL LAW"); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – - (d)) above, “Hazardous Materials”"HAZARDOUS MATERIALS").
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretodelivered to Purchaser:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-lead based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity Seller has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorSeller, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of GrantorSeller, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorSeller, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity Seller has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and to the knowledge of Seller, no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity Seller or to the knowledge of Seller by any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) neither the Seller nor to the knowledge of GrantorSeller, neither the Contributed Entity nor have any of such Contributed Entity’s Seller's agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of GrantorSeller, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of GrantorSeller, the Property is not subject to any federal, state or local lien (including any “"Superfund” " lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Seller Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-quasi governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 6 contracts
Sources: Purchase and Sale Agreement (Midlantic Office Trust, Inc.), Purchase and Sale Agreement (Midlantic Office Trust, Inc.), Purchase and Sale Agreement (Midlantic Office Trust, Inc.)
Environmental Conditions. (iA) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee Acquiror which are listed on Schedule 3.14 2.2(q) attached hereto (collectively, “Environmental Reports”), to the best of Contributors’ knowledge, information and belief, the Property (which for purposes of this Section 3.14 2.2(q) shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a1) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b2) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c3) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d4) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e5) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(iiB) As To the best of Contributors’ knowledge, information, and belief, as of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretoReports:
(a1) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b2) to the knowledge of GrantorContributor, the Contributed Entity Company has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorContributor, no underground storage tanks are located on, at or under the Property;
(c3) to the knowledge of GrantorContributor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorContributor, the Property is not proposed to be included on any such list;
(d4) to the knowledge of GrantorContributor, the Contributed Entity Company has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e5) to the knowledge of GrantorContributor, no notice of violation or other written communication has been received by the Contributed Entity Company or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f6) to the knowledge of GrantorContributor, neither the Contributed Entity Company nor any of such Contributed EntityCompany’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g7) to the knowledge of GrantorContributor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) 8) to the knowledge of GrantorContributor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity Company has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 3 contracts
Sources: Contribution Agreement (MHI Hospitality CORP), Contribution Agreement (MHI Hospitality CORP), Contribution Agreement (MHI Hospitality CORP)
Environmental Conditions. (i) As of the date of this Option the Contribution Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO ClosingDate, and except as set forth in the Environmental Reports listed provided to the Operating Partnership on Schedule 3.14 attached heretoor before May 15, 2004:
(ai) to the knowledge of Contributor, the Property is now and will be at the IPO Closing Date free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(bii) to the knowledge of GrantorContributor, the Contributed Participating Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorContributor, no underground storage tanks are located on, at or under the Property;
(ciii) to the knowledge of GrantorContributor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Participating Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage treatment or disposal of hazardous waste as defined in RCRA the Resource Conservation and Recovery Act of 1976 (42 U.S.C. Section 6901, et seq.), as amended ("RCRA"), and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage treatment or disposal of hazardous waste as defined in RCRA;
(eiv) to the knowledge of GrantorContributor, no notice of violation or other written communication has been received by the Contributed Participating Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any federal, state or local environmental law (an "Environmental Law Law") on or with respect to the Property;
(fv) to the knowledge of GrantorContributor, neither the Contributed Participating Entity nor any of such Contributed Entity’s agents, licensees or invitees have has not placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
Law (gfor the purposes of this subsection (v), "Hazardous Materials" means (a) to any "hazardous waste," "underground storage tanks," "petroleum," "regulated substance," or "used oil" as defined by the knowledge RCRA, or by any regulations promulgated thereunder, (b) any "hazardous substance" as defined by the Comprehensive Environmental Response, Compensation and Liability Act of Grantor1980 (42 U.S.C. Section 9601, no et seq.), as amended, or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint), (c) any "oil" or other party has placed "hazardous substance" as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder, (d) any Hazardous Material in, substance the presence of which on, in or under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to prohibited or regulated by any federal, state Environmental Law or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or e) any other public, governmental or quasi-governmental agency or authority with jurisdiction over any hazardous materials as to which remedial action is required under applicable Environmental Law.Laws); and
Appears in 3 contracts
Sources: Contribution Agreement (BioMed Realty Trust Inc), Contribution Agreement (BioMed Realty Trust Inc), Contribution Agreement (BioMed Realty Trust Inc)
Environmental Conditions. (iA) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee Acquiror which are listed on Schedule 3.14 2.2(q) attached hereto (collectively, “Environmental Reports”), to the Property best of Contributors’ knowledge, information, and belief, the Properties (which for purposes of this Section 3.14 2.2(q) shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the PropertyProperties) is are now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a1) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b2) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c3) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d4) any substance the presence of which on, in or under the Property Properties is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e5) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(iiB) As To the best of Contributors’ knowledge, information, and belief, as of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretoReports:
(a1) the Property is Properties are now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the PropertyProperties;
(b2) to the knowledge of GrantorContributor, the Contributed Entity Partnership has not placed, located, sited or buried any underground storage tanks at the Property Properties and to the knowledge of GrantorContributor, no underground storage tanks are located on, at or under the PropertyProperties;
(c3) to the knowledge of GrantorContributor, the Property does Properties do not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorContributor, the Property is Properties are not proposed to be included on any such list;
(d4) to the knowledge of GrantorContributor, the Contributed Entity Partnership has never used any part of the Property Properties as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has Properties have ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e5) to the knowledge of GrantorContributor, no notice of violation or other written communication has been received by the Contributed Entity Partnership or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the PropertyProperties;
(f6) to the knowledge of GrantorContributor, neither the Contributed Entity Partnership nor any of such Contributed EntityPartnership’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property Properties in violation of any Environmental Law;
(g7) to the knowledge of GrantorContributor, no other party has placed any Hazardous Material in, on, under or over any of the Property Properties in violation of any Environmental Law; and
(h) 8) to the knowledge of GrantorContributor, the Property is Properties are not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property Properties and the Contributed Entity Partnership has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 3 contracts
Sources: Contribution Agreement (MHI Hospitality CORP), Contribution Agreement (MHI Hospitality CORP), Contribution Agreement (MHI Hospitality CORP)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), to Grantor’s knowledge, the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the such Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) to Grantor’s knowledge, the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity Grantor has not placed, located, sited or buried any underground storage tanks at the Property and and, to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity Grantor has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and and, to the knowledge of Grantor, no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity Grantor or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity Grantor nor any of such Contributed Entity’s its agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity Grantor has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 2 contracts
Sources: Omnibus Option Agreement (Eagle Hospitality Properties Trust, Inc.), Omnibus Option Agreement (Eagle Hospitality Properties Trust, Inc.)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto Purchaser (collectively, “Environmental Reports”"ENVIRONMENTAL REPORTS"), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “"hazardous waste,” “" "underground storage tanks,” “" "petroleum,” “" "regulated substance,” " or “"used oil” " as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇U.S.C. Section 6901, et seq.), as amended (“"RCRA”"), or by any regulations promulgated thereunder;
(b) any “"hazardous substance” " as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § Section 9601, et seq.), as amended (“"CERCLA”"), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-lead based paint);.
(c) any “"oil” " or other “"hazardous substance” " as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”"ENVIRONMENTAL LAW"); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – - (d)) above, “Hazardous Materials”"HAZARDOUS MATERIALS").
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretodelivered to Purchaser:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-lead based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity Seller has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorSeller, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of GrantorSeller, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorSeller, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity Seller has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity Seller or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity Seller nor any of such Contributed Entity’s Seller's agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of GrantorSeller, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of GrantorSeller, the Property is not subject to any federal, state or local lien (including any “"Superfund” " lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property Properly and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-quasi governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Midlantic Office Trust, Inc.), Purchase and Sale Agreement (Midlantic Office Trust, Inc.)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO ClosingCLOSING, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto Purchaser (collectively, “"Environmental Reports”"), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “"hazardous waste,” “" "underground storage tanks,” “" "petroleum,” “" "regulated substance,” " or “"used oil” " as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇U.S.C. Section 6901, et seq.), as amended (“"RCRA”"), or by any regulations promulgated thereunder;
(b) any “"hazardous substance” " as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § Section 9601, et seq.), as amended (“"CERCLA”"), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-lead based paint);.
(c) any “"oil” " or other “"hazardous substance” " as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “"Environmental Law”"); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – - (d)) above, “Hazardous Materials”"HAZARDOUS MATERIALS").
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretodelivered to Purchaser:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-lead based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity Seller has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorSeller, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of GrantorSeller, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorSeller, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity Seller has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and to the knowledge of Seller, no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity Seller or to the knowledge of Seller by any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) neither the Seller nor to the knowledge of GrantorSeller, neither the Contributed Entity nor have any of such Contributed Entity’s Seller's agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of GrantorSeller, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of GrantorSeller, the Property is not subject to any federal, state or local lien (including any “"Superfund” " lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Seller Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-quasi governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Midlantic Office Trust, Inc.), Purchase and Sale Agreement (Midlantic Office Trust, Inc.)
Environmental Conditions. (a) Except as would not reasonably be expected to have a Parent Material Adverse Effect or except as described in Section 4.12(a) of the Parent Disclosure Letter:
(i) As the business and assets of Parent and the date Parent Subsidiaries are and, for the last ten (10) years and, to the Knowledge of this Option Agreement and as of the IPO ClosingParent, and except as set forth for all periods prior thereto, have been in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “compliance with all Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any Laws and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunderEnvironmental Permits;
(bii) there are no pending or, to the Knowledge of Parent, threatened claims, actions or proceedings against Parent or the Parent Subsidiaries under any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), Law or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint)Environmental Permit;
(ciii) any “oil” or other “hazardous substance” as defined by all products, materials and wastes generated in connection with the Oil business of Parent and Hazardous Substance Control Act the Parent Subsidiaries are and have been sold, transported and/or disposed of 1976, as amended, or by and regulations promulgated thereunderoff-site in compliance with all Environmental Laws;
(div) any substance the presence of which no Hazardous Substance has been disposed of, spilled, leaked or otherwise released or is present on, in, under or from the real property currently or, to the Knowledge of Parent, historically leased, owned or occupied by Parent or the Parent Subsidiaries, except in compliance with Environmental Laws or except at concentrations allowed under Environmental Laws;
(v) none of the Property assets of Parent or the Parent Subsidiaries, or the improvements on the real property currently leased, owned or occupied by Parent or the Parent Subsidiaries, have incorporated into them during the period of leasing, ownership or occupancy by Parent or the Parent Subsidiaries and, with respect to real property not owned by Parent or any Parent Subsidiary, as a result of the Parent’s or any Parent Subsidiaries’ activities at or on such non-owned real property, any asbestos, lead paint, urea formaldehyde foam insulation, polychlorinated biphenyls or any other Hazardous Substance which is prohibited prohibited, restricted or regulated when present in buildings, structures, fixtures or equipment, except for in such condition, location, or concentration as is allowed by any federal, state or local environmental law (an “Environmental Law”)Laws; and
(evi) any other hazardous materials as Parent has made available to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d)the Company copies of all material, “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO Closingnon-privileged environmental reports, records, and except as set forth assessments in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) possession, custody or control of Parent relating to the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence environmental conditions of any asbestos in real property owned or operated by Parent or the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property Parent Subsidiaries and to the knowledge operations of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, Parent or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental LawParent Subsidiaries.
Appears in 2 contracts
Sources: Merger Agreement (Zygo Corp), Merger Agreement (Electro Scientific Industries Inc)
Environmental Conditions. (iA) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee Acquiror which are listed on Schedule 3.14 2.2(r) attached hereto (collectively, “Environmental Reports”), to the best of the Contributors’ knowledge, information and belief, the Property (which for purposes of this Section 3.14 2.2(r) shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a1) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b2) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c3) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d4) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e5) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(iiB) As To the best of the Contributors’ knowledge, information and belief, as of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretoReports:
(a1) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b2) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, the Contributed Entity Company has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorContributor, no underground storage tanks are located on, at or under the Property;
(c3) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorContributor, the Property is not proposed to be included on any such list;
(d4) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, the Contributed Entity Company has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e5) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, no notice of violation or other written communication has been received by the Contributed Entity Company or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f6) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, neither the Contributed Entity Company nor any of such Contributed EntityCompany’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g7) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) 8) to the knowledge best of Grantorthe Contributors’ knowledge, information and belief, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity Company has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 2 contracts
Sources: Contribution Agreement (MHI Hospitality CORP), Contribution Agreement (MHI Hospitality CORP)
Environmental Conditions. (i) As of the date of this Option Agreement and Except as of the IPO Closing, and except as set forth disclosed in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto Exhibit I: (collectively, “Environmental Reports”)i) To Seller’s Actual Knowledge, the Property is free from Hazardous Substances, except for Hazardous Substances that may be present in the ordinary course of the shopping center business conducted by Owner, tenants or other occupants of the Property or used in the ordinary course of the maintenance of the Property in accordance with Environmental Laws, (which for purposes of this Section 3.14 shall include all leased and vacant spaceii) to Seller’s Actual Knowledge, land surface water, groundwater and any and all improvements no underground storage tanks are located on, in on or under the Property, and (iii) is now Owner has received no uncured written notice, and will be at has no Actual Knowledge, of any uncured violation of Environmental Laws with respect to the IPO Closing free Property. “Hazardous Substances” means any material, waste or substance which is: (i) included within the definitions of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous wastesubstances,” “underground storage tankshazardous materials,” “petroleum,” “regulated substancetoxic substances,” or “used oilsolid waste” as defined by in or pursuant to any Environmental Law, or subject to regulation under any Environmental Law; (ii) listed in the Resource Conservation and Recovery Act United States Department of 1976 (42 ▇.▇.▇. §▇▇▇▇Transportation Optional Hazardous Materials Table, et seq.)49 C.F.R. § 172.101, as amended (“RCRA”)enacted as of the date hereof or as hereafter amended, or by in the United States Environmental Protection Agency List of Hazardous Substances and Reportable Quantities, 40 C.F.R. Part 302, as enacted as of the date hereof or as hereafter amended; or (iii) explosive, flammable, radioactive, friable asbestos, a polychlorinated biphenyl, petroleum or a petroleum product or waste oil. “Environmental Laws” means any regulations promulgated present or future federal, state or local law, statute, regulation, or ordinance, and any judicial or administrative order or judgment thereunder;
(b) any “hazardous substance” , and judicial opinions or orders, pertaining to health, industrial hygiene, Hazardous Substances, the environment or natural resources, including, but not limited to, each of the following, as defined by enacted as of the date hereof or as hereafter amended: the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (1980, 42 U.S.C. §§ 9601, 9601 et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold ; the Resource Conservation and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Recovery Act of 1976, 42 U.S.C. §§ 6901 et seq.; the Toxic Substance Control Act, 15 U.S.C. §§ 2601 et seq.; the Water Pollution Control Act (also known as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (dClean Water Act), “Hazardous Materials”)33 U.S.C. §§ 1251 et seq.
(ii) As of ; the date of this Option Agreement Clean Air Act, 42 U.S.C. §§ 7401 et seq.; and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials inTransportation Act, on49 U.S.C. §§ 1801 et seq.; the Occupational Safety and Health Act, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law29 U.S.C. § 651 et seq.; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental LawOil Pollution Control Act 33 U.S.C.A. § 2701 et seq.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Rouse Properties, Inc.)
Environmental Conditions. (i) As of the date of this Option the Contribution Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO ClosingDate, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretopreviously provided to the Company:
(a) to the knowledge of Contributor, the Property is now and will be at the IPO Closing Date free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of GrantorContributor, the Contributed Participating Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorContributor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of GrantorContributor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Participating Entity has never not used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage treatment or disposal of hazardous waste as defined in RCRA the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage treatment or disposal of hazardous waste as defined in RCRA;
(ed) to the knowledge of GrantorContributor, no notice of violation or other written communication has been received by the Contributed Participating Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any federal, state or local environmental law (an “Environmental Law Law”) on or with respect to the Property;
(fe) to the knowledge of GrantorContributor, neither the Contributed Participating Entity nor any of such Contributed Entity’s agents, licensees or invitees have has not placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
Law (gfor the purposes of this subsection (e), “Hazardous Materials” means (i) to any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the knowledge RCRA, or by any regulations promulgated thereunder, (ii) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of Grantor1980 (42 U.S.C. § 9601, no et seq.), as amended, or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint), (iii) any “oil” or other party has placed “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder, (iv) any Hazardous Material in, substance the presence of which on, in or under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to prohibited or regulated by any federal, state Environmental Law or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or v) any other public, governmental or quasi-governmental agency or authority with jurisdiction over any hazardous materials as to which remedial action is required under applicable Environmental Law.Laws); and
Appears in 1 contract
Environmental Conditions. (i) As Seller has no knowledge of the date existence of this Option Agreement and any Hazardous Materials (as of the IPO Closingsuch term is hereinafter defined) in, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectivelyupon, “Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in about or under the Property or within any Improvements located thereon and the Property has, to Seller’s knowledge, never been used as a gasoline station, dry cleaner, auto or boat repair facility, painting facility or other use commonly associated with the use, storage or disposal of Hazardous Materials. Neither Seller nor any other party has ever discharged, spilled, or disposed of any Hazardous Materials on or under the Property in violation of any Environmental Laws and Seller has not received any citation, notice of violation or other communication, written or verbal, from any governmental authority or private consultant or other third party, stating that Hazardous Materials may exist on or under the Property or that any Environmental Law may have been violated with respect to the Property) . The term “Hazardous Material” shall mean any substance which is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
contains (ai) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as now or hereafter defined by in the Resource Conservation Comprehensive Environmental Response, Compensation, and Recovery Liability Act of 1976 1980, as amended (42 ▇.U.▇.▇. §▇▇▇▇, ▇ et seq.) (“CERCLA”) or any regulations promulgated under or pursuant to CERCLA; (ii) any “hazardous waste” as now or hereafter defined in the Resource Conservation and Recovery Act (42 U.S.C. §6901 et. seq.) (“RCRA”) or regulations promulgated under or pursuant to RCRA; (iii) any substance regulated by the Toxic Substances Control Act (15 U.S.C. §2601 et seq.); (iv) gasoline, as amended (“RCRA”)diesel fuel, or by other petroleum hydrocarbons; (v) asbestos and asbestos containing Materials, in any regulations promulgated thereunder;
form, whether friable or non-friable; (bvi) polychlorinated biphenyls; (vii) radon gas which is not naturally occurring; and (viii) any “additional substances or materials which are now or hereafter classified or considered to be hazardous substance” or toxic under Environmental Laws (as defined by hereinafter defined) or the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”)common law, or by any regulations promulgated thereunder (including other applicable laws relating to the Property. Hazardous Materials shall include, without limitation asbestoslimitation, radonany substance, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which onon the Property, (A) requires reporting, investigation or remediation under Environmental Laws; (B) causes or threatens to cause a nuisance on the Property or adjacent property or poses or threatens to pose a hazard to the health or safety of persons on the Property or adjacent property; or (C) which, if it emanated or migrated from the Property, could constitute a trespass. The term Hazardous Materials shall not include customary cleansers and solvents or other substances used in the ordinary course of business. The term “Environmental Laws” shall mean all laws, ordinances, statutes, codes, rules, regulations, agreements, judgments, orders, and decrees, now or under hereafter enacted, promulgated, or amended, of the United States, the states, the counties, the cities, or any other political subdivisions in which the Property is prohibited or regulated by any federallocated, state or local environmental law (an “Environmental Law”); and
(e) and any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d)political subdivision, “Hazardous Materials”).
(ii) As agency or instrumentality exercising jurisdiction over the owner of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or actionproperty, or the threat or likelihood thereofuse if the Property, relating to pollution, the clean-upprotection or regulation of human health, removal natural resources, or remediation the environment, or the emission, discharge, release or threatened release of any pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or waste or Hazardous Material from Materials into the Property and the Contributed Entity has not received any request environment (including, without limitation, ambient air, surface water, ground water or information from the United States Environmental Protection Agency land or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Lawsoil).
Appears in 1 contract
Sources: Agreement of Sale and Purchase (ERC Communities 1, Inc.)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO Closing, and except Except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto 7.5(b) (collectively, “the "Environmental Reports”Conditions"), the Property (which for purposes of this Section 3.14 shall include all leased Transferor is not and vacant space, land surface water, groundwater and any and all improvements located onhas not in the past been, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”)violation of, or by charged with, convicted of or investigated for any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act violation of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) or regulation by any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d)court, “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation governmental body or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) Real Property or in its Operations, nor does any environmental condition exist on any portion of the Real Property that would likely give rise to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property a claim that Transferor is in violation of any Environmental Law;
(g) to the knowledge such federal, state or local law, rule or regulation; there have been no disposals, releases of Grantorhazardous substances, no other party has placed any Hazardous Material inmaterials or wastes, onor pollutants or contaminants, from, in or under or over any of the Property in violation Real Property. For purposes of this Agreement, the terms "release" and "hazardous substances" shall have the definitions assigned thereto by the Federal Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601, et seq., as amended ("CERCLA"). Except as set forth on Schedule 7.5(b) (the "Environmental Conditions"), there (i) are presently no tanks for storage of petroleum products or other material (other than propane inventory) located on the Real Property; (ii) have been no, nor are there now any, electrical transformers or other equipment containing PCBs located on or under the Real Property; (iii) have been no, nor are there now any drums, cans, canisters, or containers buried underground located on the Real Property; (iv) have been no, nor are there now any, wastes buried underground on the Real Property; (v) have been no, nor is there now any, asbestos of any Environmental Lawtype or character located on the Real Property; and
(hvi) to is no contamination of soil, ground water or surface water on or under the knowledge Real Property; (vii) is no portion of Grantor, the Real Property that is not subject to or has been on any list prepared by any federal, state or local lien governmental body or agency as requiring remedial environmental action; and (including viii) has been no release of any “Superfund” lien)hazardous substance, proceedings, claim, liabilitymaterial or waste, or actionpollutants or contaminants on, in, from or under any property adjacent to the threat Real Property. Transferor has furnished Operating with copies of all environmental studies or likelihood thereof, reports referring to or relating to the clean-up, removal or Real Property. Schedule 7.5(b) contains an accurate summary of the state of all remediation actions at each parcel of any Hazardous Material from the Real Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority Transferor's plan of action with jurisdiction over any Environmental Lawrespect thereto.
Appears in 1 contract
Environmental Conditions. (ia) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 SCHEDULE 3.13 attached hereto (collectively, “Environmental Reports”"ENVIRONMENTAL REPORTS"), the such Grantor's Property (which for purposes of this Section 3.14 SECTION 3.13 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the such Grantor's Property) is are now and will be at the IPO Closing Closing, to the best of Grantor's knowledge, free of all contamination which exists as or has arisen from, directly or indirectly:
(ai) any “"hazardous waste,” “" "underground storage tanks,” “." "petroleum,” “" "regulated substance,” " or “"used oil” ", as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇U.S.C. Section 6901, et seq.), as amended (“"RCRA”"), or by any regulations promulgated thereunder;
(bii) any “"hazardous substance” " as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § Section 9601, et seq.), as amended (“"CERCLA”"), or by any regulations promulgated thereunder (including without limitation asbestos, asbestos and radon, mold and lead-based paint);
(ciii) any “"oil” " or other “"hazardous substance” " as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(div) any substance the presence of which on, in or under the such Property is prohibited or regulated by any of the laws referred in (i) through (iii) and any other federal, state state, or local law, statute, ordinance, regulation or rule of common law pertaining to human health or the environment, or regulating, prohibiting, or otherwise restricting the placement, discharge, release, threatened release, generation, treatment, or disposal upon or into any environmental law media of any substance, pollutant, or waste that is now or hereafter classified or considered to be hazardous or toxic to human health or the environment (an “Environmental Law”"ENVIRONMENTAL LAW"); and
(ev) any other hazardous materials as to which remedial action is required under applicable Environmental Laws or toxic chemical, waste, by-product, pollutant, contaminant, compound, product or substance, the generation, storage, disposal, handling, recycling, release (together with substances described in subsections (a) – (dor threatened release), “treatment, discharge, or emission of which is regulated, prohibited or limited under any Environmental Law (the foregoing including, without limitation, (A) gasoline, diesel fuel, fuel oil, motor oil, waste oil, and any other petroleum hydrocarbon, including any additive or other by-products associated therewith, (B) asbestos and asbestos-containing materials in any form, (C) polychlorinated biphenyls, (D) any substance the presence of which in real property (x) required reporting or remediation under any Environmental Law, (y) cause a hazard to the health or safety of persons on the property in which such Hazardous Materials”).Material is located or on property adjacent thereto or (z) which, if it migrated from the property on which it is located, could constitute a health or safety hazard to persons on adjacent property, (E) radon, and (F) urea formaldehyde foam insulation.
(iib) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 SCHEDULE 3.13 attached hereto:
(ai) the such Grantor's Property is now and will be at the IPO Closing closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(bii) to the knowledge of Grantor, the Contributed Entity Grantor has not placed, located, sited or buried any underground storage tanks at the such Grantor's Property and to the best knowledge of Grantor, no underground storage tanks are located on, at or under the such Grantor's Property;
(ciii) to the knowledge none of such Grantor, the 's Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists (state or federal) and, to the best knowledge of Grantor, the such Grantor's Property is not proposed to be included on any such list;
(div) to the knowledge of Grantor, the Contributed Entity Grantor has never used any part of the such Grantor's Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and to the best knowledge of Grantor, no part of the such Grantor's Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(ev) to the knowledge of Grantor, no notice of violation or other written communication has been received by Grantor or, to the Contributed Entity or best knowledge of Grantor, any predecessor in title title, from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the such Grantor's Property;
(fvi) to the knowledge of Grantor, neither the Contributed Entity Grantor nor any of such Contributed Entity’s Grantor's agents, licensees or invitees invitees, nor, to the best knowledge of each, any tenants of such Grantor's Property or any other person or entity, have placed or permitted the placement of any Hazardous Materials in, on, under or over the such Grantor's Property in violation of any Environmental Law;
(gvii) to the best knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the such Grantor's Property in violation of any Environmental Law; and
(hviii) to the knowledge of such Grantor, the 's Property is not subject to any federal, state or local lien (including any “"Superfund” " lien), proceedings, claim, liability, or actionaction or, or to the best knowledge of Grantor, the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the such Grantor's Property and the Contributed Entity Grantor has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 1 contract
Sources: Omnibus Option Agreement (Ashford Hospitality Trust Inc)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO Closing, and except Except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”Exhibit 3.19(a), the U.S. Display Business, and Seller in connection therewith, (i) is and has been (except with respect to noncompliance that has been fully resolved and corrected with all penalties paid and obligations performed after any required disclosure to appropriate Governmental Authorities) in material compliance with all Environmental Laws, (ii) has not received any communication (written or oral) from any Governmental Authority that alleges that it is not in such compliance (except for noncompliance that has been resolved and corrected as provided above), and (iii) has all material Environmental Permits required for the conduct of the U.S. Display Business. Exhibit 3.19(b) identifies all environmental reports, audits or assessments, or occupational health studies, that relate to the Real Property (which for purposes undertaken by the Seller or any of this Section 3.14 shall include all leased its agents, independent contractors or representatives. Except as set forth in Exhibit 3.19(c), there does not exist, is not occurring, and vacant spacehas not occurred at any time while owned or operated by Seller, land surface waterany presence, groundwater and generation, storage, treatment, transport, release or disposal of any and all improvements located "Hazardous Substance" on, in, under, about, to or from any parcel of Real Property in material violation of any Environmental Law or under that could lead to liability or obligation on the Property) is part of an owner or operator of any of the Real Property now or in the future. The Seller has heretofore delivered to Buyer true and will be at complete copies of each of the IPO Closing free of all contamination which exists following documents: each non-privileged environmental report, audit, and assessment, and each non-privileged occupational health study, identified in Exhibit 3.19(d); and each Environmental Permit. Except as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.set forth in Exhibit 3.19(e), as amended none of the Real Property is, and there has been no offsite shipment by Seller or its agents from the Real Property of a Hazardous Substance to, a site that is, pursuant to CERCLA or any other Environmental Law: (“RCRA”), i) on the "National Priorities List" or any other list of sites suspected to be contaminated by any regulations promulgated thereunder;
Hazardous Substance; (bii) any “hazardous substance” as defined by the Comprehensive Environmental Responsesubject to a claim, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” administrative order or other “hazardous substance” as defined by request to take investigative, removal or remedial action under CERCLA or any other Environmental Law; or (iii) otherwise the Oil and Hazardous Substance Control Act subject or source of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “private investigation, remediation or cost recovery or contribution effort or claim relating to Environmental Law”); and
(e. Exhibit 3.19(f) any other hazardous materials as sets forth, with respect to which remedial action is required under applicable each parcel of Real Property, all material Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except Permits. Except as set forth in the Environmental Reports listed on Schedule 3.14 Exhibit 3.19(f) attached hereto:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part , consummation of the improvements)transactions contemplated by this Agreement will not, moldwith respect to any material Environmental Permit, radon and leadrequire the consent or approval of, or any filing with, any Governmental Authority. Seller has delivered to Buyer complete copies of each material Environmental Permit. Exhibit 3.19(g) identifies (i) all on-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists site and, to the knowledge Knowledge of GrantorSeller, off-site locations where Seller has stored, disposed or arranged for the Property is not proposed disposal of Hazardous Substances generated by the U.S. Display Business in violation of, or in amounts or in a manner that could be reasonably expected to be included give rise to any liability under Environmental Laws, (ii) all leaking underground storage tanks located on any such list;
parcel of Real Property, (diii) all asbestos contained in or forming part of any building, building component, structure or office space on any parcel of Real Property which is currently friable in the ordinary course of business as conducted on the date hereof or otherwise currently requires corrective action under applicable Environmental Laws, and (iv) all polychlorinated biphenyls (PCBs) present on any parcel of Real Property. Notwithstanding any provision of this Agreement to the knowledge contrary, this Section 3.19 shall constitute the sole representation and warranty of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) Seller related to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Lawenvironmental matters.
Appears in 1 contract
Environmental Conditions. Except for the matters described as set forth on SCHEDULE 14.5 attached hereto, to Seller’s Knowledge, (i) As KEM is not required as of the date of this Option Agreement to implement or pay for any Remedial Action and as (ii) neither KEM nor Seller have received written notice from any governmental authority that there is asbestos, lead or other Hazardous Material located at the Eagle Mountain Property in violation of the IPO Closingany law, whether federal, state or local, and except as set forth to Seller’s Knowledge, there is no factual basis for such notice. To Seller’s Knowledge, there are no Hazardous Materials in the environmental reports Core Garden area, including but not limited to the barrels, sample sacks and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), the Property (which for rock cores present therein. For purposes of this Section 3.14 shall include all leased and vacant space14.5, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) “Remedial Action” means all actions required by Environmental Laws to investigate, monitor, clean up, remove, treat or in any other way remediate any existing release, spill, disposition, or other transmission or discharge of Hazardous Material; (b) “Hazardous Material” means: (i) any substance, product, waste or other material of any nature whatsoever which is or becomes listed or regulated as a “hazardous waste,” “underground storage tankshazardous substance,” “petroleumhazardous material,” “regulated toxic substance,” “waste,” “pollutant,” “contaminant,” or “used oil” similar characteristic pursuant to any federal, state or local statute, law, ordinance, resolution code, rule, regulation, order or decree as defined by now or at any time hereafter may be in effect during the Resource Conservation and Recovery Act term of 1976 (42 ▇.▇.▇. §▇▇▇▇this Agreement, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by including without limitation the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (1980, 42 U.S.C. § Section 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Materials Transportation Act of 19761975, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.49 U.S.C. Section 1801
Appears in 1 contract
Environmental Conditions. (i) As of the date of this Option the Contribution Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO ClosingDate, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretoprovided to the Operating Partnership by Contributor:
(ai) to the knowledge of Contributor, the Property is now and will be at the IPO Closing Date free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(bii) to the knowledge of GrantorContributor, the Contributed Participating Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorContributor, no underground storage tanks are located on, at or under the Property;
(ciii) to the knowledge of GrantorContributor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Participating Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage treatment or disposal of hazardous waste as defined in RCRA the Resource Conservation and Recovery Act of 1976 (42 U.S.C. Section 6901, et seq.), as amended ("RCRA"), and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage treatment or disposal of hazardous waste as defined in RCRA;
(eiv) to the knowledge of GrantorContributor, no notice of violation or other written communication has been received by the Contributed Participating Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any federal, state or local environmental law (an "Environmental Law Law") on or with respect to the Property;
(fv) to the knowledge of GrantorContributor, neither the Contributed Participating Entity nor any of such Contributed Entity’s agents, licensees or invitees have has not placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
Law (gfor the purposes of this subsection (v), "Hazardous Materials" means (a) to any "hazardous waste," "underground storage tanks," "petroleum," "regulated substance," or "used oil" as defined by the knowledge RCRA, or by any regulations promulgated thereunder, (b) any "hazardous substance" as defined by the Comprehensive Environmental Response, Compensation and Liability Act of Grantor1980 (42 U.S.C. Section 9601, no et seq.), as amended, or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint), (c) any "oil" or other party has placed "hazardous substance" as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder, (d) any Hazardous Material in, substance the presence of which on, in or under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to prohibited or regulated by any federal, state Environmental Law or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or e) any other public, governmental or quasi-governmental agency or authority with jurisdiction over any hazardous materials as to which remedial action is required under applicable Environmental Law.Laws); and
Appears in 1 contract
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO ClosingCLOSING, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto Purchaser (collectively, “"Environmental Reports”"), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “"hazardous waste,” “" "underground storage tanks,” “" "petroleum,” “" "regulated substance,” " or “"used oil” " as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.▇.▇. §▇▇▇▇U.S.C. Section 6901, et seq.), as amended (“"RCRA”"), or by any regulations promulgated thereunder;
(b) any “"hazardous substance” " as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § Section 9601, et seq.), as amended (“"CERCLA”"), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-lead based paint);.
(c) any “"oil” " or other “"hazardous substance” " as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”"ENVIRONMENTAL LAW"); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – - (d)) above, “Hazardous Materials”"HAZARDOUS MATERIALS").
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached heretodelivered to Purchaser:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-lead based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity Seller has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of GrantorSeller, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of GrantorSeller, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of GrantorSeller, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity Seller has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and to the knowledge of Seller, no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity Seller or to the knowledge of Seller by any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) neither the Seller nor to the knowledge of GrantorSeller, neither the Contributed Entity nor have any of such Contributed Entity’s Seller's agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of GrantorSeller, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of GrantorSeller, the Property is not subject to any federal, state or local lien (including any “"Superfund” " lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Seller Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-quasi governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Midlantic Office Trust, Inc.)
Environmental Conditions. (i) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the environmental reports and materials previously delivered to Optionee which are listed on Schedule 3.14 attached hereto (collectively, “Environmental Reports”), the Property (which for purposes of this Section 3.14 shall include all leased and vacant space, land surface water, groundwater and any and all improvements located on, in or under the Property) is now and will be at the IPO Closing free of all contamination which exists as or has arisen from, directly or indirectly:
(a) any “hazardous waste,” “underground storage tanks,” “petroleum,” “regulated substance,” or “used oil” as defined by the Resource Conservation and Recovery Act of 1976 (42 ▇.U.▇.▇. §▇▇▇▇, et seq.), as amended (“RCRA”), or by any regulations promulgated thereunder;
(b) any “hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), as amended (“CERCLA”), or by any regulations promulgated thereunder (including without limitation asbestos, radon, mold and lead-based paint);
(c) any “oil” or other “hazardous substance” as defined by the Oil and Hazardous Substance Control Act of 1976, as amended, or by and regulations promulgated thereunder;
(d) any substance the presence of which on, in or under the Property is prohibited or regulated by any federal, state or local environmental law (an “Environmental Law”); and
(e) any other hazardous materials as to which remedial action is required under applicable Environmental Laws (together with substances described in subsections (a) – (d), “Hazardous Materials”).
(ii) As of the date of this Option Agreement and as of the IPO Closing, and except as set forth in the Environmental Reports listed on Schedule 3.14 attached hereto:
(a) the Property is now and will be at the IPO Closing free from asbestos and any asbestos containing materials (including without limitation the presence of any asbestos in the insulation or other materials used comprising any part of the improvements), mold, radon and lead-based paint that would have a material adverse effect on the Property;
(b) to the knowledge of Grantor, the Contributed Entity has not placed, located, sited or buried any underground storage tanks at the Property and to the knowledge of Grantor, no underground storage tanks are located on, at or under the Property;
(c) to the knowledge of Grantor, the Property does not appear on any state or federal CERCLA, RCRA, Superfund or other similar lists and, to the knowledge of Grantor, the Property is not proposed to be included on any such list;
(d) to the knowledge of Grantor, the Contributed Entity has never used any part of the Property as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA and no part of the Property has ever been used as a sanitary landfill, waste dump site or for the treatment, storage or disposal of hazardous waste as defined in RCRA;
(e) to the knowledge of Grantor, no notice of violation or other written communication has been received by the Contributed Entity or any predecessor in title from a governmental agency or other entity or person, alleging or suggesting any violation of any Environmental Law on or with respect to the Property;
(f) to the knowledge of Grantor, neither the Contributed Entity nor any of such Contributed Entity’s agents, licensees or invitees have placed or permitted the placement of any Hazardous Materials in, on, under or over the Property in violation of any Environmental Law;
(g) to the knowledge of Grantor, no other party has placed any Hazardous Material in, on, under or over any of the Property in violation of any Environmental Law; and
(h) to the knowledge of Grantor, the Property is not subject to any federal, state or local lien (including any “Superfund” lien), proceedings, claim, liability, or action, or the threat or likelihood thereof, relating to the clean-up, removal or remediation of any Hazardous Material from the Property and the Contributed Entity has not received any request or information from the United States Environmental Protection Agency or any other public, governmental or quasi-governmental agency or authority with jurisdiction over any Environmental Law.
Appears in 1 contract
Sources: Omnibus Option Agreement (Eagle Hospitality Properties Trust, Inc.)