BKS » Topics » Environmental Laws

This excerpt taken from the BKS 8-K filed Oct 1, 2009.
Environmental Laws. Except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect (a) conduct its operations and keep and maintain its Eligible Real Estate in material compliance with all Environmental Laws and environmental permits; (b) obtain and renew all environmental permits necessary for its operations and properties; and (c) implement any and all investigation, remediation, removal and response actions that are necessary to maintain the value and marketability of the Eligible Real Estate or to otherwise comply with Environmental Laws pertaining to any of its Eligible Real Estate, provided, however, that neither a Loan Party nor any of its Subsidiaries shall be required to undertake any such investigation, remediation, removal, response or other action to the extent that its obligation to do so is being contested in good faith and by proper proceedings and adequate reserves have been set aside and are being maintained by the Loan Parties with respect to such circumstances in accordance with GAAP.

This excerpt taken from the BKS 8-K filed Aug 10, 2009.
Environmental Laws” means any Applicable Law or any binding agreement with any Governmental Authority relating to the environment, to pollutants, contaminants or chemicals or any toxic, radioactive, ignitable, corrosive, reactive or otherwise hazardous substances, wastes or materials or to human health and safety with respect to exposure to any of the foregoing.


Oct 1, 2009
Aug 10, 2009
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