Environmental Indemnity Agreement (Pro-Lender)
An environmental indemnity agreement for commercial real estate loans, including loans characterized as nonrecourse debt. This Standard Document illustrates the standard agreements made by the loan's borrower and one or more creditworthy persons or entities indemnifying the lender for environmental losses and liabilities relating to mortgaged real property. This Standard Document favors lenders but has integrated notes with important explanations, and drafting and negotiating tips for lenders, borrowers, and indemnitors. This Standard Document is a jurisdiction-neutral multistate template for use in all jurisdictions with appropriate modifications to reflect applicable state and local laws and customs.
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