Common use of Construction Inspector Clause in Contracts

Construction Inspector. To permit Lender to retain the Construction Inspector (the "Construction Inspector") at the cost of Borrower to perform the following services on behalf of Lender: (a) To review and advise Lender whether, in the opinion of the Construction Inspector, the Plans and Specifications are satisfactory; (b) To review Draw Requests and material change orders; (c) To make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in substantial accordance with the Plans and Specifications and to approve Borrower's then current Draw Request as being consistent with Borrower's obligations under this Agreement, including inter alia, an opinion as to Borrower's continued compliance with the provisions of Section 6.1 (f) (4) hereof. The reasonable fees of the Construction Inspector shall be paid by Borrower promptly upon, but in no event later than sixty (60) days after billing therefor and expenses incurred by Lender on account thereof shall be reimbursed to Lender forthwith upon request therefor, but neither Lender nor the Construction Inspector shall have any liability to Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Lender nor the Construction Inspector assumes any obligation to Borrower or any other person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Appears in 1 contract

Sources: Building Loan Agreement (Alterra Healthcare Corp)

Construction Inspector. To permit Lender to retain the Construction Inspector (the "Construction Inspector") at the cost of Borrower to perform the following services on behalf of Lender: (a) To review and advise Lender whether, in the opinion of the Construction Inspector, the Plans and Specifications are satisfactory; (b) To review Draw Requests and material change orders; (c) To make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is substantially in substantial accordance with the Plans and Specifications and to approve Borrower's then current Draw Request as being consistent with Borrower's obligations under this Agreement, including inter aliaINTER ALIA, an opinion as to Borrower's continued compliance with the provisions of Section 6.1 (fg) (4) hereof. The reasonable fees of the Construction Inspector shall be paid by Borrower promptly upon, but in no event later than sixty (60) days after forthwith upon billing therefor and expenses incurred by Lender on account thereof shall be reimbursed to Lender forthwith upon request therefor, but neither Lender nor the Construction Inspector shall have any liability to Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Lender nor the Construction Inspector assumes any obligation to Borrower or any other person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Appears in 1 contract

Sources: Building Loan Agreement (Essex Hospitality Associates Iv Lp)

Construction Inspector. To permit Lender Bank to retain the Construction Inspector (the "Construction Inspector") at the cost of Borrower Company to perform the following services on behalf of LenderBank: (a) To review and advise Lender Bank whether, in the opinion of the Construction Inspector, the Plans and Specifications are satisfactory; (b) To review Draw Requests for Disbursements and material change orders; (c) To make periodic inspections (approximately at the date of each Draw RequestRequest for Disbursement) for the purpose of assuring that construction of the Improvements Facility to date is in substantial accordance with the Plans and Specifications and to approve BorrowerCompany's then current Draw Request for Disbursement as being consistent with BorrowerCompany's obligations under this AgreementAgreement and the Indenture, including inter alia, an opinion as to BorrowerCompany's continued compliance with the provisions of Section 6.1 (f) (4) hereof. The reasonable fees of the Construction Inspector shall be paid by Borrower promptly upon, but in no event later than sixty (60) days after Company forthwith upon billing therefor and expenses incurred by Lender Bank on account thereof shall be reimbursed to Lender Bank forthwith upon request therefor, but neither Lender Bank nor the Construction Inspector shall have any liability to Borrower Company on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the ImprovementsFacility. Neither Lender Bank nor the Construction Inspector assumes any obligation to Borrower Company or any other person concerning the quality of construction of the Improvements Facility or the absence therefrom of defects.

Appears in 1 contract

Sources: Building Loan Agreement (Spurlock Industries Inc)

Construction Inspector. To permit Lender Bank to retain the Construction Inspector (the "Construction Inspector") at the cost of Borrower Company to perform the following services on behalf of LenderBank: (a) To review and advise Lender Bank whether, in the opinion of the Construction Inspector, the Plans and Specifications are satisfactory; (b) To review Draw Requests and material change orders; (c) To make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in substantial accordance with the Plans and Specifications and to approve BorrowerCompany's then current Draw Request as being consistent with BorrowerCompany's obligations under this Agreement, including inter alia, an opinion as to BorrowerCompany's continued compliance with the provisions of Section 6.1 (fg) (4) hereof. The reasonable fees of the Construction Inspector shall be paid by Borrower promptly upon, but in no event later than sixty (60) days after Company forthwith upon billing therefor and expenses incurred by Lender Bank on account thereof shall be reimbursed to Lender Bank forthwith upon request therefor, but neither Lender Bank nor the Construction Inspector shall have any liability to Borrower Company on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Lender Bank nor the Construction Inspector assumes any obligation to Borrower Company or any other person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Appears in 1 contract

Sources: Building Loan Agreement (Angiodynamics Inc)

Construction Inspector. To The Borrower agrees to permit Lender the Agent to ---------------------- retain the Construction Inspector (the "Construction Inspector") at the cost of the Borrower to perform the following services on behalf of Lender:the Agent; (a) To to review and advise Lender the Agent whether, in the opinion of the Construction Inspector, the Plans and Specifications are satisfactory; (b) To to review Draw Advance Requests, applicable Loan Requests and material change orders; (c) To to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in substantial accordance with the Plans and Specifications and to approve the Borrower's then current Draw Advance Request or Loan Request, as the case may be, as being consistent with the Construction Budget and the Borrower's obligations under this Credit Agreement, including inter alia, an opinion as to Borrower's continued compliance with the provisions of Section 6.1 (f) (4) hereof. The reasonable fees of the Construction Inspector shall be paid by the Borrower promptly upon, but in no event later than sixty (60) days after forthwith upon billing therefor and expenses incurred by Lender the Agent on account thereof shall be reimbursed to Lender the Agent forthwith upon request therefor, but neither Lender the Agent nor the Construction Inspector shall have any liability to the Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Lender the Agent nor the Construction Inspector assumes any obligation to the Borrower or any other person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)