Common use of Indemnification Relating to Hazardous Substances Clause in Contracts

Indemnification Relating to Hazardous Substances. Guarantor shall not locate, produce, treat, transport, incorporate, discharge, emit, release, deposit or dispose of any Hazardous Substance in, upon, under, over or from any property owned or operated by Guarantor, except in accordance with all Environmental Laws and Environmental Regulations; Guarantor shall not permit any Hazardous Substance to be located, produced, treated, transported, incorporated, discharged, emitted, released, deposited, disposed of or to escape in, upon, under, over or from any property owned or operated by Guarantor, except in accordance with all Environmental Laws and Environmental Regulations; and Guarantor shall comply with all Environmental Laws and Environmental Regulations which are applicable to such property. If CoBank reasonably believes that an Environmental Law or Environmental Regulation has been violated by Guarantor's activities upon property owned or operated by Guarantor, and if CoBank so requests, Guarantor shall have prepared an environmental review, audit, assessment and/or report relating to the subject property, at Guarantor's sole cost and expense, by an engineer or other environmental expert acceptable to CoBank. If, however, the environmental review, audit, assessment and/or report reveals that no Environmental Law or Environmental Regulation has been violated, CoBank shall reimburse Guarantor for the costs and expenses of such engineer or other environmental expert in completing such audit or report. Guarantor shall indemnify the Indemnified Parties against, and shall reimburse the Indemnified Parties for, any and all claims, demands, judgments, penalties, liabilities, costs, damages and expenses, including court costs and attorneys' fees incurred by the Indemnified Parties (prior to trial, at trial and on appeal) in any action against or involving the Indemnified Parties, resulting from any breach of the foregoing covenants, or from the discovery of any Hazardous Substance in, upon, under or over, or emanating from, such property, it being the intent of Guarantor and the Indemnified Parties that the Indemnified Parties shall have no liability or responsibility for damage or injury to human health, the environmental or natural resources caused by, for abatement and/or clean-up of, or otherwise with respect to, Hazardous Substances by virtue of the interest of CoBank (or any Participant) in the property created by any documents securing the Guaranteed Obligations or as the result of CoBank exercising any of its rights or remedies with respect thereto, including but not limited to becoming the owner thereof by foreclosure or conveyance in lieu of foreclosure. The foregoing covenants of this Section shall be deemed continuing covenants for the benefit of the Indemnified Parties, and any successors and assigns of the Indemnified Parties, including but not limited to the holder of any certificate of purchase, any transferee of the title of CoBank or any subsequent owner of the property, and shall survive the satisfaction or release of any Lien, any foreclosure of any Lien and/or any acquisition of title to the property or any part thereof by CoBank, or anyone claiming by, through or under CoBank or Guarantor by deed in lieu of foreclosure or otherwise. Any amounts covered by the foregoing indemnification shall bear interest from the date incurred at the Default Interest Rate, shall be payable on demand, and shall be secured by the Guarantor Security Documents. The indemnification and covenants of this Section shall survive the termination of this Guaranty.

Indemnification Relating to Hazardous Substances. (i) Each of Guarantor and the CCI Entities shall not locate, produce, treat, transport, incorporate, discharge, emit, release, deposit or dispose of any Hazardous Substance in, upon, under, over or from any property owned or operated held by GuarantorGuarantor or the CCI Entity, except in accordance with all Environmental Laws and Environmental Regulations; each of Guarantor and the CCI Entities shall not permit any Hazardous Substance to be located, produced, treated, transported, incorporated, discharged, emitted, released, deposited, disposed of or to escape in, upon, under, over or from any property owned or operated held by GuarantorGuarantor or the CCI Entity, except in accordance with all Environmental Laws and Environmental Regulations; and each of Guarantor and the CCI Entities shall comply with all Environmental Laws and Environmental Regulations which are applicable to such property. If CoBank Bank, acting for its own benefit or in its role as Agent Bank for the benefit of the present and future Syndication Parties, reasonably believes that an Environmental Law or Environmental Regulation has been violated by Guarantor's activities Guarantor or CCI Entity upon property owned or operated held by GuarantorGuarantor or any CCI Entity, and if CoBank Bank so requests, Guarantor shall have prepared an environmental review, audit, assessment and/or report relating to the subject property, at Guarantor's sole cost and expense, by an engineer or other environmental expert scientist acceptable to CoBankBank. If, however, the environmental review, audit, assessment and/or report reveals that no Environmental Law or Environmental Regulation has been violated, CoBank Bank shall reimburse Guarantor for the costs and expenses of such engineer or other environmental expert scientist in completing such audit or report. This clause (i) shall apply only to a CCI Entity which Guarantor shall indemnify the Indemnified Parties against, and shall reimburse the Indemnified Parties for, any and all claims, demands, judgments, penalties, liabilities, costs, damages and expenses, including court costs and attorneys' fees incurred by the Indemnified Parties (prior to trial, at trial and on appeal) in any action against or involving the Indemnified Parties, resulting from any breach of the foregoing covenantsmanages, or from the discovery of any Hazardous Substance in, upon, under in which Guarantor has a general partner interest or overa controlling interest, or emanating from, such property, it being the intent of Guarantor and the Indemnified Parties that the Indemnified Parties shall have no liability or responsibility for damage or injury to human health, the environmental or natural resources caused by, for abatement and/or clean-up of, or otherwise with respect to, Hazardous Substances by virtue of the interest of CoBank (or which receives any Participant) in the property created by any documents securing the Guaranteed Obligations or as the result of CoBank exercising any of its rights or remedies with respect thereto, including but not limited to becoming the owner thereof by foreclosure or conveyance in lieu of foreclosure. The foregoing covenants of this Section shall be deemed continuing covenants for the benefit of the Indemnified Parties, and any successors and assigns of the Indemnified Parties, including but not limited to the holder of any certificate of purchase, any transferee of the title of CoBank or any subsequent owner of the property, and shall survive the satisfaction or release of any Lien, any foreclosure of any Lien and/or any acquisition of title to the property or any part thereof by CoBank, or anyone claiming by, through or under CoBank or Guarantor by deed in lieu of foreclosure or otherwise. Any amounts covered by the foregoing indemnification shall bear interest loan from the date incurred at the Default Interest Rate, shall be payable on demand, and shall be secured by the Guarantor Security Documents. The indemnification and covenants of this Section shall survive the termination of this GuarantyBorrower.