During the Due Diligence Period. Landlord may plant farm crops or enter into a lease for the planting of farm crops on the Premises. If (and only if) Landlord provides written notice to Tenant prior to planting such crops, including in such notice the estimated date(s) of harvest, then the Rent Commencement Date shall be delayed until the earlier of (a) such time as the crops actually planted on the Premises are harvested or (b) the date one (1) year following the date of Landlord’s notice (the “Harvest Date”); provided, however that Tenant may commence construction of improvements on the Premises at any time prior to the Harvest Date upon prior written notice to Landlord, in which case Tenant shall commence payment of annual rent in accordance with Section 2 above, and shall pay the owner of the crops an amount equal to the fair market value of that portion of the crops which cannot reasonably be harvested.
During the Due Diligence Period. Buyer will conduct a review of the economics and feasibility of acquiring and operating the Property as required by its funding source, including inspection of all zoning and other government permits and regulations and other matters and documents relating to the operation of the Property, and as detailed in Section 3(a).
During the Due Diligence Period. Lessee shall pay no Base Rent or Additional Annual Rent (as those terms are defined herein) before May 15, 1999. except as otherwise provided in this Section 3.A., for purposes of this Lease, “Base Rent” shall mean the sum of Forty Thousand Dollars ($40,000) per month, payable in advance during each month of the Lease Term, Less any offsets as provided for in this Lease. On May 15, 1999, assuming the Lease has not been terminated, Lessee shall pay Lessor Fifteen Thousand Dollars ($15,000) as Base Rent for the period May 15 through May 31, 1999. Thereafter, commencing as of June 1, 1999, and for so long as the Lease is in effect, Lessee shall pay Lessor Base Rent of Forty Thousand Dollars (40,000) per month as provided above, except for the month of July 1999, for which month Lessee shall pay Base Rent of Fifty Thousand Dollars ($50,000). During the Due Diligence period, Lessee shall pay current liabilities incurred by Lessee during its operation of the assets from operating cash flow and capital contributions, if any, made by Lessee during the Due Diligence Period. All revenues and cash flow generated on or for the benefit of the Assets by Lessee during the Due Diligence Period shall remain at and be used for the operation of the Assets, including the payment of on-site wages and salaries and other overhead expense. Lessee shall not receive a management fee, however, nor shall any expenses or obligations of Lessee’s parent or affiliated corporations unrelated to the Assets be included in determining expenses associated with operating the Assets during the Due Diligence Period.
During the Due Diligence Period. (1) Investor provides written notice during the Due Diligence Period that it is not satisfied with and is not waiving its Due Diligence Condition or a No Fault Condition, for any reason other than a MAC: Deposit promptly refunded to Investor; or
During the Due Diligence Period for a Project, CareMatrix shall select a project architect (a "Project Architect") and a project engineer (a "Project Engineer") for such Project; provided, however, that CareMatrix shall ensure that any Project Architect or Project Engineer is adequately insured given the nature, scope and construction cost of the applicable Project and in no event shall CareMatrix select a Project Architect or Project Engineer which, directly or indirectly, controls or is controlled by or is under common control with CareMatrix, PhyMatrix, Meditrust, Abraham D. Gosman, Michael M. Gosman or Andrew D. Gosxxx xxxxxxx xxx xrixx xxxxxxx xx Xxxth Sxxxx. Xxxxxxxxxxxxxxx the foregoing, in no event shall CareMatrix be liable in any manner to North Shore or the applicable Joint Venture for any act or omission of the Project Architect or the Project Engineer. North Shore covenants and agrees not to bring any action or proceeding of any type against CareMatrix arising out of or related to any act or omission of any Project Architect or Project Engineer and each of CareMatrix and North Shore shall look to the applicable Project Architect and/or Project Engineer for any loss, claim or damage which either of them may suffer arising out of or related to any act or omission of any Project Architect or Project Engineer. The Project Architect(s) and the Project Engineer(s) shall contract directly with the Joint Venture upon its formation. The Joint Venture shall direct the Project Architect(s) and the Project Engineer(s) to develop a preliminary site plan and facility schematics. CareMatrix and North Shore, shall approve the design criteria, including overall size and layout, which criteria shall be incorporated in the development of the applicable Project.
During the Due Diligence Period. Buyer shall have the right to conduct a general feasibility study of the Property that may include, without limitation, a review of Seller’s Due Diligence Documents, ordering and reviewing any additional surveys or environmental reports that Buyer may wish to obtain with respect to the Property, and all other studies or investigations that Buyer deems necessary to perform or review. All such investigations and reports shall be at Buyer’s sole expense and all information obtained as a result of such investigations shall be maintained by Buyer or any third-party consultant of Buyer on a confidential basis and shall not be disclosed to any third party (other than Buyer’s attorneys, accountants, lender, and other Buyer consultants or as required by law) without the prior written consent of Seller. In the event of termination by either party, Seller shall retain ownership of all work product/reports completed by third parties during the Due Diligence Period.
