HAZARDOUS SUBSTANCE CONDITIONS. If a Hazardous Substance Condition occurs and ▇▇▇▇▇▇ is not responsible to remediate the same pursuant to Paragraph 7 hereof, Lessor may, at Lessor's option, either (i) give written notice to Lessee of Lessor's intention to fund such remediation, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee of Lessor's election to terminate this Lease as of the date sixty (60) days following the giving of such notice. If Lessor elects to fund such remediation as provided in (i) above, Lessor shall promptly commence the same. If a Hazardous Substance Condition occurs and Lessee is not responsible for remediation thereof pursuant to Paragraph 7 hereof, Lessee's obligations under this Lease shall be abated to the same extent as provided in Paragraph 19.6 above.
Appears in 1 contract
Sources: Lease Agreement (Intest Corp)
HAZARDOUS SUBSTANCE CONDITIONS. If a Hazardous Substance Condition occurs and ▇▇▇▇▇▇ Lessee is not responsible to remediate the same pursuant to Paragraph 7 Section 8 hereof, Lessor may, at Lessor's option, either (i) give written notice to Lessee of Lessor's intention to fund such remediation, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee of Lessor's election to terminate this Lease as of the date sixty (60) days following the giving of such notice. If Lessor elects to fund such remediation as provided in (i) above, Lessor shall promptly commence the same. If a Hazardous Substance Condition occurs and Lessee is not responsible for remediation thereof pursuant to Paragraph 7 Section 8 hereof, Lessee's obligations under this Lease shall be abated to the same extent as provided in Paragraph 19.6 Section 20.06 above.
Appears in 1 contract
Sources: Standard Industrial Lease (L L Brown International Inc)