Condition of Project. Neither the Project nor any part thereof is now damaged or injured as result of any fire, explosion, accident, flood or other casualty or has been the subject of any Taking, and to the knowledge of the Borrower, no Taking is pending or contemplated.
Condition of Project. (i) Except as set forth herein, Purchaser represents that it is a knowledgeable, experienced and sophisticated buyer of real estate in general and full-service hotels in particular, and that Purchaser is relying solely on its own expertise and that of Purchaser’s consultants in purchasing the Project. Except as set forth herein, Purchaser is, or as of the Due Diligence Deadline will be, familiar with the Project. Purchaser is relying solely upon, and as of Due Diligence Deadline will have conducted its own, independent inspection, investigation and analysis of the Project as it deems necessary or appropriate in so acquiring the Project from Seller, including, without limitation, an analysis of any and all matters concerning the condition of the Project and its suitability for Purchaser’s intended purposes, and a review of all applicable laws, ordinances, rules and governmental regulations (including, but not limited to, those relative to building, zoning and land use) affecting the development, use, occupancy or enjoyment of the Project. Except as set forth herein, Purchaser shall assume the risk that adverse matters, including, but not limited to, adverse physical and environmental conditions, may not be revealed by Purchaser’s inspections and investigations. Except as set forth herein, Purchaser acknowledges and agrees that Seller shall sell and convey to Purchaser and Purchaser shall accept the Project “as is, where is,” with all faults. Seller is not liable or bound in any manner by any oral or written statements, representations, or information pertaining to the Project furnished by any real estate broker, agent, employee, servant or other person, unless the same are expressly set forth herein. Except as set forth herein, Purchaser acknowledges that the Purchase Price reflects the “as is” nature of this sale and any faults, liabilities, defects or other adverse matters that may be associated with the Project. Purchaser has fully reviewed the disclaimers and waivers set forth in this Agreement with its counsel and understands the significance and effect thereof. Purchaser acknowledges and agrees that Seller’s disclaimers as set forth herein are an integral part of this Agreement and that Seller would not have agreed to sell the Project to Purchaser for the Purchase Price without Purchaser’s acknowledgment of Seller’s disclaimer and other matters set forth in this Agreement.
Condition of Project. (a) Upon service of a Termination Notice or three (3) years prior to the expiry of the Concession Period, the Project Company and the Responsible Government Authorities shall form a Decommissioning Committee, which shall be responsible for conducting a survey of the Project to ascertain the condition thereof, prepare an inventory of the Project’s Immovable Assets and Movable Assets and verify compliance by the Project Company under this Agreement.
Condition of Project. No defect or condition of the Land or the soil or geology thereof exists which impairs the use, or the operation of the Project for its intended purpose.
Condition of Project. None of the Projects are now damaged nor injured as a result of any fire, explosion, accident, flood or other casualty, where the risk of loss is not otherwise covered by insurance or exceeds $50,000 at such Project, subject to reasonable deductibles and not otherwise repaired.
Condition of Project. By entry under this Agreement, Tenant accepts the Project in its present condition; and Tenant agrees, on the last day of the term or on sooner termination of this Agreement, to surrender the Project and the appurtenances to TNBC in the same condition as when received, reasonable use, wear and damage by fire, act of God or the elements excepted, and to remove all of Tenant’s property from the Project.
Condition of Project. Except as disclosed in the engineering reports listed on Schedule 3.1(g) or in any engineering reports obtained by the Partnership or any potential lender of the Refinancing Debt, the Transferors have not received any unsatisfied requirements for repairs, restorations or improvements with respect to the Project pursuant to the Existing Financing Documents, from any insurer of the Project (or any part thereof), from any tenant under a Tenant Lease or from any Governmental Authority, the failure of which to satisfy could reasonably be expected to have a Project Material Adverse Effect.
Condition of Project. Section 9.12 of the Loan Agreement shall be and is hereby amended and restated to read, in its entirety, as follows:
Condition of Project. None of the Primary Projects and, to the best of Borrower’s knowledge, none of the Non-Primary Projects are now damaged nor injured as a result of any fire, explosion, accident, flood or other casualty, where the risk of loss is not otherwise covered by insurance or exceeds 5% of the aggregate Receivables included in the Borrowing Base, subject to reasonable deductibles and not otherwise repaired, unless otherwise notified and approved by Agent.”
Condition of Project. Without in any way releasing the Manager from its responsibility to maintain the Project in good repair pursuant to Section 4, the University acknowledges that the Manager is not a property inspector or engineer and is not qualified to inspect or make representations as to the physical or environmental condition of the Project. Accordingly, the University agrees that the Manager, in fulfilling its obligation under this Agreement to maintain the Project in good repair may, as a Project expense, from time to time as it deems necessary, obtain from a third-party inspector a property condition report relative to the Project, and in fulfilling its obligation under this Agreement to maintain the Project in good repair or advising the University regarding the physical or environmental condition of the Property, the Manager may rely upon such property condition report(s) for all matters relative to the physical or environmental condition of the Project.
