Environmental Exposures and Lender Concerns

Secured Lenders Protection Pre-Foreclosure - for secured lenders who do not participate in management, i.e., do not exercise . Decision-making control over environmental compliance, e.g., hazardous waste management Overall operational management Post-Foreclosure - for secured lenders who hold property only to protect security interest, i.e., take steps consistent with safe harbor provisions and seek to sell, re-lease or otherwise divest themselves of assets at earliest practicable, commercially reasonable time, on commercially reasonable terms 53

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