AMD 1998 Annual Report Download - page 142

knowledge of such matters. The reasonable cost of performing and reporting Site
Assessments shall be paid by Tenant, except that Tenant shall not be responsible
to pay the cost of performing and reporting Site Assessments required in
connection with any sale of the Leased Premises.
(d) If an Environmental Violation (other than ground water
contamination which has migrated to the Leased Premises from off-site sources
unless Tenant is or has been required by a governmental authority to remediate
such contamination) occurs or is found to exist and, in Landlord's reasonable
judgment, the cost of remediation of, or other response action with respect to,
the same is likely to exceed $1,000,000 and at the time of such remediation
Tenant does not have a publicly traded, unsecured senior debt rating of "Baa2"
or better from Moody's or a rating of "BBB" or better from S&P, Tenant shall
provide to Landlord, within thirty (30) days after Landlord's request therefor,
adequate financial assurances that Tenant will effect such remediation in
accordance with applicable Environmental Laws. Such financial assurances shall
be a bond or letter of credit reasonably satisfactory to Landlord in form and
substance and in an amount equal to or greater than Landlord's reasonable
estimate, based upon a Site Assessment performed pursuant to Paragraph 10(c), of
the anticipated cost of such remedial action.
(e) Notwithstanding any other provision of this Lease, if an
Environmental Violation occurs (other than ground water contamination which has
migrated to the Leased Premises from off-site sources unless Tenant is or has
been required by a governmental authority to remediate such contamination) or is
found to exist and the Term would otherwise terminate or expire, then, at the
option of Landlord, the Term shall be automatically extended beyond the date of
termination or expiration and this Lease shall remain in full force and effect
beyond such date until the earlier to occur of (i) the completion of all
remedial action in accordance with applicable Environmental Laws or (ii) one (1)
year from the date on which this Lease would otherwise terminate or expire so
long as on or before such date Tenant deposits with Landlord an amount
determined by the Site Reviewer to be reasonably required to complete such
remediation.
(f) If Tenant fails to correct any Environmental Violation
which occurs or is found to exist, Landlord shall have the right (but no
obligation) to take any and all actions as Landlord shall deem reasonably
necessary or advisable in order to cure such Environmental Violation.
(g) Tenant shall notify Landlord promptly after becoming aware
of any Environmental Violation (or alleged Environmental Violation) or
noncompliance with any of the covenants contained in this Paragraph 10 and shall
forward to Landlord immediately upon receipt thereof copies of all orders,
reports, notices, permits, applications or other communications relating to any
such violation or noncompliance.
(h) All future leases, subleases or concession agreements
relating to the Leased Premises entered into by Tenant shall contain covenants
of the other party not to at any time (i) cause any Environmental Violation to
occur or (ii) permit any Person occupying the Leased Premises through said
subtenant or concessionaire to cause any Environmental Violation to occur.
11. Liens; Recording.
----------------
(a) Tenant shall not, directly or indirectly whether by any act
or omission, create or permit to be created or to remain and shall promptly
discharge or remove any lien, levy or encumbrance on any of the Leased Premises
or on any Rent or any other sums payable by Tenant under this Lease, other than
any Mortgage or Assignment, the Permitted Encumbrances and any mortgage, lien,
encumbrance or other charge created by or resulting from
14
Source: ADVANCED MICRO DEVIC, 10-K, March 29, 1999