Environmental Indemnity Clause

• Category: Contracts - Indemnification
• State: Multi-State
• Control #: US-C-I-9000-7
• Format: Word; Rich Text

Description

This is a sample Environmental Indemnity Agreement. An environmental indemnity mitigates a lender's exposure for environmental risks that are associated with real property ownership by indemnifying the lender against all losses associated with environmental compliance, monitoring, and remediations An Environmental Indemnity Agreement (EIA) is a contractual obligation between two parties, where one party indemnifies the other against losses, damages, and liabilities associated with environmental issues. The indemnifying party may be the seller, lender, or operator of a property, and the indemnified party may be the purchaser, borrower, or tenant. The agreement typically covers issues related to hazardous materials, waste disposal, pollution, and other environmental liabilities. The types of EIA agreements vary depending on the situation, but common agreements include buyer/seller agreements, lender/borrower agreements, tenant/landlord agreements, and operator/owner agreements. Buyer/seller agreements provide protection to the buyer from environmental liabilities associated with the property that were present prior to the sale, while lender/borrower agreements provide protection to the lender from environmental liabilities associated with the property that were present prior to the loan. Tenant/landlord agreements protect the tenant from environmental liabilities associated with the property that were present prior to the tenancy, while operator/owner agreements protect the operator from environmental liabilities associated with the property that were present prior to the operation. EIA agreements are an important part of protecting both parties from potential environmental liabilities, and should be completed prior to any transaction.

An Environmental Indemnity Agreement (EIA) is a contractual obligation between two parties, where one party indemnifies the other against losses, damages, and liabilities associated with environmental issues. The indemnifying party may be the seller, lender, or operator of a property, and the indemnified party may be the purchaser, borrower, or tenant. The agreement typically covers issues related to hazardous materials, waste disposal, pollution, and other environmental liabilities. The types of EIA agreements vary depending on the situation, but common agreements include buyer/seller agreements, lender/borrower agreements, tenant/landlord agreements, and operator/owner agreements. Buyer/seller agreements provide protection to the buyer from environmental liabilities associated with the property that were present prior to the sale, while lender/borrower agreements provide protection to the lender from environmental liabilities associated with the property that were present prior to the loan. Tenant/landlord agreements protect the tenant from environmental liabilities associated with the property that were present prior to the tenancy, while operator/owner agreements protect the operator from environmental liabilities associated with the property that were present prior to the operation. EIA agreements are an important part of protecting both parties from potential environmental liabilities, and should be completed prior to any transaction.