Condition of Subject Property. (a) In the event the Subject Property should be damaged by fire or other casualty or become subject to condemnation proceedings prior to the Closing, Buyer shall nonetheless proceed to close this transaction, and Seller shall, subject to the immediately following sentence, assign to Buyer, effective as of the Closing, all of Seller's rights to any insurance or condemnation proceeds and to cause the Owner Trustee and the Agent (as defined in the Synthetic Lease Documents) to assign to Buyer all of their respective rights, if any, to any such insurance or condemnation proceeds. For the avoidance of doubt, Seller and Buyer hereby acknowledge and agree that, in the event of any such casualty or condemnation, (i) Seller shall use any insurance or condemnation proceeds actually received by Seller (to the extent that Seller is not required by the terms of the Synthetic Lease to turn over such proceeds to the Owner Trustee or to the Agent) to repair (or commence repair) of damage to the Subject Property caused by such casualty or condemnation, and (ii) Seller shall deliver, or cause to be delivered, to Buyer at the Closing the remaining, unused balance, if any, of such proceeds (including that portion, if any, of such proceeds paid to the Owner Trustee or to the Agent pursuant to the terms of the Synthetic Lease Documents).
Condition of Subject Property. Buyer agrees to accept Subject Property in its “as-is” condition, and Seller disclaims all warranties express or implied as to the physical condition of Subject Property.
Condition of Subject Property. The Parties acknowledge that the Subject Property will be conveyed “AS IS,” and without any representations or warranties, except as specifically provided in this Agreement and related instruments.
Condition of Subject Property. On the Closing date, Seller shall have removed from the Subject Property any personal property, or any trash or solid waste on the Subject Property and the Subject Property shall be in the same condition as it was on the Effective Date, reasonable wear and tear excepted. Buyer shall be entitled to conduct a final inspection of the Subject Property prior to the Closing to ensure compliance with the terms of this Agreement.
Condition of Subject Property. The Owner or Occupant of the Subject Property shall at all times keep it and the buildings, improvements, and appurtenances thereon in a safe, clean, and wholesome condition and comply, at its own expense, in all respects with all applicable governmental safety ordinances, regulations, requirements, and directives, and the Owner or Occupant shall at regular
Condition of Subject Property. (a) In the event the Subject Property should be damaged by fire or other casualty or become subject to condemnation proceedings prior to the Closing, Buyer shall nonetheless proceed to close this transaction, and Seller shall, subject to the immediately following sentence, assign to Buyer, effective as of the Closing, all of Seller's rights to any insurance or condemnation proceeds and to cause the Owner Trustee and the Agent (as defined in the Synthetic Lease Documents) to assign to Buyer all of their respective rights, if any, to any such insurance or condemnation proceeds. For the avoidance of doubt, Seller and Buyer hereby acknowledge and agree that, in the event of any such casualty or condemnation, (i) Seller shall use any insurance or condemnation proceeds actually received by Seller (to the extent that Seller is not required by the terms of the Synthetic Lease to turn over such proceeds to the Owner Trustee or to the Agent) to repair (or commence repair) of damage to the Subject Property caused by such casualty or condemnation, and (ii) Seller shall deliver, or cause to be delivered, to Buyer at the Closing the remaining, unused balance, if any, of such proceeds (including that portion, if any, of such proceeds paid to the Owner Trustee or to the Agent pursuant to the terms of the Synthetic Lease Documents). (b) Each of Seller and Buyer hereby expressly acknowledges and agrees that, notwithstanding anything to the contrary set forth in Section 15(a) above, in the event that all of the following conditions shall occur: (i) any casualty damage to or condemnation of the Subject Property occurs prior to the Closing; (ii) any insurance proceeds or condemnation awards are actually paid to the Owner Trustee or the Agent pursuant to the Synthetic Lease Documents prior to the Closing (all such proceeds being referred to herein collectively as the "Actual Proceeds"); (iii) Buyer has provided written notice of the satisfaction of all conditions precedent specified in Section 11 (other than those which are to occur simultaneously with the Closing) and Buyer has deposited, in escrow with instructions for release upon the Closing, the full amount of the Purchase Price in the form of a cashier's check or wired funds to the Title Company or such other person as Buyer and Seller may agree in writing to act as escrow agent for purposes of effecting the closing of the transaction contemplated by this Agreement (in either case, the "Escrow Agent"); and 11 <PAGE> (iv) ...
Condition of Subject Property. Buyer acknowledges that Xxxxx has had an ample opportunity to inspect the Subject Property, including, if applicable, any improvements to the Subject Property, and agrees to accept the Subject Property in “as is” condition without any warranties or representations whatsoever.
Condition of Subject Property. The District is not aware of any defect in or condition of the Subject Property that would prevent its use for the Charter School's purposes. The District has not received any notice of violation of statute, ordinance, regulation, order or holding from any state or federal agency with jurisdiction over the Subject Property that calls into question the appropriateness or sufficiency of the Subject Property for its intended purpose. The District, at its expense, shall remain responsible for compliance with all applicable laws regarding the Subject Property during the Term of this Agreement. Charter School, at its expense, shall comply with all applicable laws, regulations, rules and orders with respect to its use and occupancy of the Subject Property, including, without limitation, those relating to health, safety, noise, environmental protection, zoning compliance and approvals, waste disposal, and water and air quality. The Charter School shall not be responsible for any and all environmental conditions that existed prior to the Charter School’s occupancy of the Subject Property, so long as such environmental conditions are not exacerbated by the Charter School’s negligence or willful misconduct. The District shall remain responsible for compliance with the Americans with Disablities Act, Fair Employment and Housing Act (“FEHA”), and other applicable building code standards for any compliance issue existing prior to the date of execution of this Agreement and that are not triggered by any modifications or improvements made by the Charter School. The Charter School shall assume responsibility for compliance with Americans with Disabilities Act and FEHA access rights to the extent of any modifications or improvement made by the Charter School. Should any modifications or improvements made by the Charter School change or affect the character of any existing improvements, Charter School shall be responsible for bringing said existing improvements into compliance with Americans with Disabilities Act, FEHA, and other applicable building code standards. Charter School shall comply with all applicable licensing, payment and performance bond and prevailing wage laws with respect to all modifications it performs. District makes no representation or warranty regarding the condition of the Westwood Training Center and/or Subject Property with respect to the COVID-19 virus and shall not be responsible or liable for any harm of damage related to the COVID-19 virus incur...
Condition of Subject Property. Xxxxx agrees to accept Subject Property in its “as-is” condition, and Seller disclaims all warranties express or implied as to the physical condition of Subject Property.
