Hazardous Waste Obligations. Shall mean any and all obligations by any Borrower arising under any and all mortgages securing the Obligations to hold Bank, Bank's parent, subsidiaries and affiliates, each of their respective shareholders, directors, officers, employees and agents, and the successors and assigns of any of them (individually and collectively, the "Indemnified Parties") harmless from and against any and all liens, damages, losses, liabilities, obligations, settlement payments, penalties, assessments,
... citations, directives, claims, litigation, demands, defenses, judgments, suits, proceedings, costs, disbursements or expenses of any kind or of any nature whatsoever (including without limitation, attorneys', consultants' and experts' fees and disbursements incurred in investigation, defending against, settling or prosecuting any claim, litigation or proceeding), which may at any time be imposed upon, incurred by or asserted or awarded against the Indemnified Parties or the Premises (but in all events, excluding any punitive, consequential, special or loss or diminution of value damages), and arising directly or indirectly from or out of: (1) any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, storing, escaping, leaching, dumping, vapor intrusion, or discarding, burying, abandoning, or disposing into the environment in violation of Hazardous Waste Laws (a "Release") or a substantial likelihood of a Release in violation of Hazardous Waste Laws which requires action to prevent or mitigate damage to the environment which may result from such Release (a "Threat of Release") of any Hazardous Materials on, in, under or affecting all or any portion of the Premises or any surrounding areas, regardless of whether or not caused by or within the control of a Borrower; (2) the violation of any Hazardous Waste Laws relating to or affecting the Premises or a Borrower, whether or not caused by or within the control of a Borrower; (3) the violation of any Hazardous Waste Laws in connection with other real property of a Borrower which gives or may give rise to any rights whatsoever in any party with respect to the Premises by virtue of any Hazardous Waste Laws; or (4) the (i) the costs of assessment, containment and/or removal of any and all Hazardous Materials from all or any portion of the Premises or any surrounding areas to the extent required by applicable Hazardous Waste Laws, (ii) the costs of any actions required by applicable Hazardous Waste Laws taken in response to a Release or Threat of Release of any Hazardous Materials on, in, under or affecting all or any portion of the Premises or any surrounding areas to comply with applicable Hazardous Waste Laws to prevent or minimize such Release or Threat of Release so that it does not migrate or otherwise cause or threaten danger to present or future public health, safety, welfare or the environment, and (iii) costs incurred to comply with the Hazardous Waste Laws in connection with all or any portion of the Premises or any surrounding areas. 3
View More
