|
environmental law, including without limitation asbestos, polychlorinated biphenyls, petroleum,
<br /> natural gas and synthetic fuel products and by- products.
<br /> 8.4 Environmental Laws. As used herein, the term "Environmental Laws" means
<br /> all federal, state or local statutes, ordinances, rules, regulations, orders, decrees, judgments or
<br /> common law doctrines, and provisions and conditions of permits, licenses and other operating
<br /> authorizations regulating, or relating to, or imposing liability or standards of conduct concerning
<br /> (1) pollution or protection of the environment, including natural resources; (ii) exposure of
<br /> persons, including employees and agents, to Hazardous Materials (as defined above) or other
<br /> products, raw materials, chemicals or other substances; (iii) protection of the public health or
<br /> welfare from the effects of by- products, wastes, emissions, discharges or releases of chemical
<br /> substances from industrial or commercial activities; (iv) the manufacture, use or introduction into
<br /> commerce of chemical substances, including without limitation, their manufacture, formulation,
<br /> labeling, distribution, transportation, handling, storage and disposal; or (iv) the use, release or
<br /> disposal of toxic or hazardous substances or Hazardous Materials or the remediation of air,
<br /> surface waters, groundwaters or soil, as now or may at any later time be in effect, including but
<br /> not limited to the Toxic Substances Control Act [15 U.S.C. Section 2601, et seq.]; the
<br /> Comprehensive Environmental Response, Compensation and Liability Act [42 U.S.C. Section
<br /> 9601, et seq.], the Hazardous Materials Transportation Authorization Act [49 U.S.C. Section
<br /> 5101, es seq.], the Resource Conservation and Recovery Act [42 U.S.C. Section 6901, et seq.],
<br /> the Federal Water Pollution Control Act [33 U.S.C. Section 1251], the Clean Air Act [42 U.S.C.
<br /> Section 7401, et seq.], the California Underground Storage of Hazardous Substances Act
<br /> [California Health and Safety Code Section 25280, et seq.], the California Hazardous Substances
<br /> Account Act [California Health and Safety Code Section 25300, et seq.], the California
<br /> Hazardous Waste Act [California Health and Safety Code Section 25100, et seq.], the California
<br /> Safe Drinking Water and Toxic Enforcement Act [California Health and Safety Code Section
<br /> 25249.5, et seq.], and the Porter - Cologne Water Quality Control Act [California Water Code
<br /> Section 13000, et seq.], as each of the foregoing now exist or are hereafter amended, together
<br /> with any regulations promulgated thereunder.
<br /> ARTICLE IX
<br /> DEFAULTS, REMEDIES AND TERMINATION
<br /> 9.1 Event of Borrower Default. The following events shall constitute an event of
<br /> default on the part of Borrower ( "Event of Borrower Default"):
<br /> (a) Borrower fails to commence or complete rehabilitation of the
<br /> Improvements within the times set forth in Section 3.7, or subject to force majeure, abandons or
<br /> suspends rehabilitation of the Improvements prior to completion for a period of sixty (60) days
<br /> or more;
<br /> (b) Borrower fails to pay when due the principal and interest (if any) payable
<br /> under the Restated Note or the Note and such failure continues for ten (10) days after City
<br /> notifies Borrower thereof in writing;
<br /> 1755895.3 23
<br />
|