{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "during-the-period", "type": "clause", "offset": [4, 21]}, {"key": "beginning-on-the-effective-date", "type": "clause", "offset": [51, 82]}, {"key": "eastern-time", "type": "clause", "offset": [107, 119]}, {"key": "on-november", "type": "clause", "offset": [120, 131]}, {"key": "expiration-of-the-due-diligence-period", "type": "definition", "offset": [147, 185]}, {"key": "the-right", "type": "clause", "offset": [210, 219]}, {"key": "notice-to-seller", "type": "clause", "offset": [286, 302]}, {"key": "physical-inspection-of-the-property", "type": "clause", "offset": [314, 349]}, {"key": "a-non", "type": "clause", "offset": [365, 370]}, {"key": "studies-and-tests", "type": "clause", "offset": [483, 500]}, {"key": "sole-discretion", "type": "definition", "offset": [555, 570]}, {"key": "environmental-condition-of-the-property", "type": "clause", "offset": [680, 719]}, {"key": "physical-condition-of-the-property", "type": "clause", "offset": [834, 868]}, {"key": "prior-to", "type": "definition", "offset": [938, 946]}, {"key": "certificate-of-insurance", "type": "clause", "offset": [1043, 1067]}, {"key": "applicable-seller", "type": "definition", "offset": [1075, 1092]}, {"key": "agents-and-representatives", "type": "clause", "offset": [1140, 1166]}, {"key": "in-place", "type": "definition", "offset": [1172, 1180]}, {"key": "comprehensive-general-liability-insurance", "type": "clause", "offset": [1181, 1222]}, {"key": "policy-limits", "type": "definition", "offset": [1229, 1242]}, {"key": "per-occurrence", "type": "clause", "offset": [1266, 1280]}, {"key": "statutory-requirements", "type": "clause", "offset": [1381, 1403]}, {"key": "in-connection-with", "type": "clause", "offset": [1513, 1531]}, {"key": "of-purchaser", "type": "clause", "offset": [1545, 1557]}, {"key": "and-the-company", "type": "clause", "offset": [1654, 1669]}, {"key": "additional-insureds", "type": "definition", "offset": [1673, 1692]}, {"key": "cost-of", "type": "clause", "offset": [1733, 1740]}, {"key": "professional-inspection", "type": "clause", "offset": [1788, 1811]}, {"key": "duly-licensed", "type": "definition", "offset": [1846, 1859]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1861, 1890]}, {"key": "business-days", "type": "definition", "offset": [1931, 1944]}, {"key": "tenant-occupied", "type": "clause", "offset": [1987, 2002]}, {"key": "section-23", "type": "clause", "offset": [2063, 2074]}, {"key": "prior-notice", "type": "definition", "offset": [2091, 2103]}, {"key": "property-manager", "type": "definition", "offset": [2140, 2156]}, {"key": "at-purchaser", "type": "definition", "offset": [2174, 2186]}, {"key": "to-the-extent", "type": "clause", "offset": [2202, 2215]}, {"key": "seller-shall", "type": "clause", "offset": [2257, 2269]}, {"key": "available-to", "type": "definition", "offset": [2275, 2287]}, {"key": "records-and-reports", "type": "definition", "offset": [2324, 2343]}, {"key": "reasonable-care", "type": "definition", "offset": [2391, 2406]}, {"key": "at-all-times", "type": "definition", "offset": [2407, 2419]}, {"key": "comply-with", "type": "definition", "offset": [2512, 2523]}, {"key": "all-applicable-laws", "type": "clause", "offset": [2524, 2543]}, {"key": "insurance-policy", "type": "definition", "offset": [2578, 2594]}, {"key": "in-effect", "type": "definition", "offset": [2600, 2609]}, {"key": "with-respect-to", "type": "clause", "offset": [2610, 2625]}, {"key": "known-to-purchaser", "type": "definition", "offset": [2648, 2666]}, {"key": "engage-in-any", "type": "definition", "offset": [2678, 2691]}, {"key": "permit-or-license", "type": "definition", "offset": [2745, 2762]}, {"key": "pertaining-to", "type": "definition", "offset": [2763, 2776]}, {"key": "the-tenants", "type": "definition", "offset": [2849, 2860]}, {"key": "use-of-the-property", "type": "clause", "offset": [2898, 2917]}, {"key": "operation-and-maintenance-of-the-property", "type": "clause", "offset": [2995, 3036]}, {"key": "damage-to-the-property", "type": "clause", "offset": [3054, 3076]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [3087, 3109]}, {"key": "any-confidential-information", "type": "clause", "offset": [3177, 3205]}, {"key": "agreement-or", "type": "definition", "offset": [3237, 3249]}, {"key": "required-by", "type": "definition", "offset": [3250, 3261]}, {"key": "pursuant-to-clauses", "type": "clause", "offset": [3301, 3320]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [3360, 3389]}, {"key": "site-inspections", "type": "clause", "offset": [3440, 3456]}, {"key": "normal-business-hours", "type": "definition", "offset": [3492, 3513]}, {"key": "in-accordance-with", "type": "definition", "offset": [3580, 3598]}, {"key": "the-terms", "type": "definition", "offset": [3599, 3608]}, {"key": "right-to-have", "type": "clause", "offset": [3637, 3650]}, {"key": "on-request", "type": "clause", "offset": [3773, 3783]}, {"key": "payment-by-seller", "type": "clause", "offset": [3798, 3815]}, {"key": "inspection-reports", "type": "clause", "offset": [3886, 3904]}, {"key": "purchaser-will", "type": "clause", "offset": [3906, 3920]}, {"key": "furnish-to", "type": "clause", "offset": [3921, 3931]}, {"key": "final-reports", "type": "clause", "offset": [3952, 3965]}, {"key": "received-by-purchaser", "type": "clause", "offset": [3966, 3987]}, {"key": "requested-by", "type": "definition", "offset": [3992, 4004]}, {"key": "relating-to", "type": "definition", "offset": [4012, 4023]}, {"key": "agrees-to", "type": "clause", "offset": [4071, 4080]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [4228, 4248]}, {"key": "arising-out-of", "type": "definition", "offset": [4277, 4291]}, {"key": "the-inspection", "type": "clause", "offset": [4310, 4324]}, {"key": "costs-and-expenses", "type": "definition", "offset": [4419, 4437]}, {"key": "willful-misconduct", "type": "definition", "offset": [4551, 4569]}, {"key": "existing-condition", "type": "clause", "offset": [4586, 4604]}, {"key": "indemnify-and-hold-harmless", "type": "clause", "offset": [4731, 4758]}, {"key": "shall-survive-the-closing", "type": "clause", "offset": [4814, 4839]}], "snippet": "(a) During the period (the \u201cDue Diligence Period\u201d) beginning on the Effective Date and ending at 5:00 p.m. Eastern time on November 19, 2014 (the \u201cExpiration of the Due Diligence Period\u201d), Purchaser shall have the right, upon a minimum of one Business Day\u2019s prior telephonic or written notice to Seller, to make a physical inspection of the Property, including (i) a non-invasive inspection of the environmental condition thereof and such non-invasive physical engineering and other studies and tests on the Property as Purchaser deems appropriate in its sole discretion and (ii) with Seller\u2019s consent, which Seller may withhold in its sole discretion, further inspections of the environmental condition of the Property and further physical engineering and other studies and tests on the Property that are invasive or could alter the physical condition of the Property (including examination of materials, soil samples, and groundwater). Prior to performing any inspection or test (whether non-invasive or otherwise), Purchaser must deliver a certificate of insurance to the applicable Seller evidencing that Purchaser and its contractors, agents and representatives have in place comprehensive general liability insurance (with policy limits of at least $1,000,000 per occurrence and $2,000,000 aggregate) and for workers\u2019 compensation insurance (with policy limits not less than statutory requirements) for its activities on the Property on terms reasonably satisfactory to Seller covering any accident arising in connection with the presence of Purchaser, its contractors, agents and representatives on the Property, which insurance shall name Seller and the Company as additional insureds thereunder and Purchaser shall bear the cost of all such inspections or tests. All third-party professional inspection companies or individuals shall be duly licensed. Notwithstanding the foregoing, Purchaser shall give no fewer than two Business Days\u2019 notice to Seller prior to inspecting any Tenant occupied portions of the Property. Subject to the provisions of this Section 2.3, Purchaser upon prior notice to Seller may meet with the current property manager at the Property. At Purchaser\u2019s request, and to the extent in Seller\u2019s or the Company\u2019s possession, Seller shall make available to Purchaser copies of the maintenance records and reports for the Property. Purchaser shall (i) exercise reasonable care at all times that Purchaser shall be present upon the Property, (ii) at Purchaser\u2019s expense, observe and comply with all applicable laws and any conditions imposed by any insurance policy then in effect with respect to the Property and made known to Purchaser, (iii) not engage in any activities which would violate the provisions of any permit or license pertaining to the Property and made known to Purchaser, (iv) not unreasonably disturb the Tenants or unreasonably interfere with their use of the Property pursuant to their respective Leases, (v) not unreasonably interfere with the operation and maintenance of the Property, (vi) repair any damage to the Property resulting directly or indirectly from Purchaser\u2019s activities at the Property and (vii) not disclose any confidential information except as permitted under this Agreement or required by applicable law. Purchaser\u2019s obligation pursuant to clauses (vi) and (vii) above shall survive any termination of this Agreement.\n(b) Purchaser understands and agrees that any on-site inspections of the Property shall occur during normal business hours after the requisite prior notice to Seller and shall be conducted in accordance with the terms hereof. Seller reserves the right to have a representative present during any such inspections and property manager interviews. If the Closing does not occur, then on request by Seller and payment by Seller to Purchaser 50% of Purchaser\u2019s out-of-pocket costs for any requested inspection reports, Purchaser will furnish to Seller any draft of final reports received by Purchaser and requested by Seller relating to any inspections of the Property.\n(c) Purchaser agrees to protect, indemnify, defend and hold Seller and the Company harmless from and against any claim for liabilities, losses, costs, expenses (including reasonable attorneys\u2019 fees), damages or injuries arising out of or resulting from the inspection of the Property by Purchaser or its agents or consultants, excluding any liabilities, losses, costs and expenses, damages or injuries arising out of, and then only to the extent of, (i) Seller\u2019s or the Company\u2019s negligence or willful misconduct or (ii) any pre-existing condition discovered or revealed in the inspection of the Property by Purchaser or its agents or consultants. Purchaser\u2019s obligation to indemnify and hold harmless Seller and the Company pursuant to this Section 2.3(c) shall survive the Closing or any termination of this Agreement.", "samples": [{"hash": "kFN5F6hq25y", "uri": "/contracts/kFN5F6hq25y#due-diligence-period", "label": "Interest Purchase and Sale Agreement (Independence Realty Trust, Inc)", "score": 25.848733902, "published": true}, {"hash": "hGfLtH1t714", "uri": "/contracts/hGfLtH1t714#due-diligence-period", "label": "Interest Purchase and Sale Agreement (Independence Realty Trust, Inc)", "score": 25.848733902, "published": true}, {"hash": "6mfuQQ9qIAM", "uri": "/contracts/6mfuQQ9qIAM#due-diligence-period", "label": "Interest Purchase and Sale Agreement (Independence Realty Trust, Inc)", "score": 25.848733902, "published": true}], "size": 209, "hash": "e28c05a3c9ebf663f2eb9c14bc7905ca", "id": 1}, {"snippet_links": [{"key": "buyer-will", "type": "clause", "offset": [4, 14]}, {"key": "commencing-on-the-effective-date", "type": "clause", "offset": [29, 61]}, {"key": "pacific-time", "type": "clause", "offset": [84, 96]}, {"key": "determine-whether", "type": "clause", "offset": [242, 259]}, {"key": "buyer-shall", "type": "clause", "offset": [300, 311]}, {"key": "notice-to-seller", "type": "clause", "offset": [321, 337]}, {"key": "property-information", "type": "definition", "offset": [372, 392]}, {"key": "to-provide", "type": "definition", "offset": [410, 420]}, {"key": "documents-to-buyer", "type": "clause", "offset": [435, 453]}, {"key": "buyer-may-terminate", "type": "clause", "offset": [492, 511]}, {"key": "agreement-for", "type": "clause", "offset": [557, 570]}, {"key": "no-reason", "type": "clause", "offset": [578, 587]}, {"key": "notice-of", "type": "definition", "offset": [606, 615]}, {"key": "day-of", "type": "clause", "offset": [665, 671]}, {"key": "pursuant-to", "type": "definition", "offset": [730, 741]}, {"key": "this-section-7", "type": "clause", "offset": [742, 756]}, {"key": "neither-party-shall", "type": "clause", "offset": [814, 833]}, {"key": "further-liability", "type": "clause", "offset": [843, 860]}, {"key": "obligation-to", "type": "clause", "offset": [864, 877]}, {"key": "indemnity-provisions", "type": "clause", "offset": [924, 944]}, {"key": "other-provision-of-this-agreement", "type": "clause", "offset": [997, 1030]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [1073, 1102]}, {"key": "during-the-due-diligence-period", "type": "clause", "offset": [1146, 1177]}, {"key": "escrow-holder", "type": "definition", "offset": [1179, 1192]}, {"key": "seller-shall", "type": "clause", "offset": [1238, 1250]}, {"key": "return-of-the-deposit", "type": "clause", "offset": [1288, 1309]}, {"key": "for-any-reason", "type": "clause", "offset": [1319, 1333]}, {"key": "to-exercise", "type": "clause", "offset": [1359, 1370]}, {"key": "right-to-terminate-this-agreement", "type": "clause", "offset": [1375, 1408]}, {"key": "to-acquire", "type": "definition", "offset": [1494, 1504]}, {"key": "expiration-of-the-due-diligence-period", "type": "definition", "offset": [1529, 1567]}, {"key": "a-termination-notice", "type": "definition", "offset": [1720, 1740]}, {"key": "deemed-terminated", "type": "definition", "offset": [1916, 1933]}, {"key": "default-hereunder", "type": "clause", "offset": [2051, 2068]}, {"key": "by-seller", "type": "clause", "offset": [2069, 2078]}, {"key": "rights-of-tenants", "type": "clause", "offset": [2099, 2116]}, {"key": "the-leases", "type": "clause", "offset": [2123, 2133]}, {"key": "provide-to", "type": "clause", "offset": [2147, 2157]}, {"key": "access-to-the-property", "type": "clause", "offset": [2175, 2197]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [2198, 2216]}, {"key": "a-non", "type": "clause", "offset": [2279, 2284]}, {"key": "technical-and", "type": "clause", "offset": [2358, 2371]}, {"key": "inspections-and-tests", "type": "clause", "offset": [2386, 2407]}, {"key": "other-inspections", "type": "clause", "offset": [2417, 2434]}, {"key": "required-by", "type": "definition", "offset": [2465, 2476]}, {"key": "notice-by-telephone", "type": "clause", "offset": [2519, 2538]}, {"key": "the-properties", "type": "clause", "offset": [2577, 2591]}, {"key": "in-the-case", "type": "clause", "offset": [2656, 2667]}, {"key": "nature-of-the", "type": "clause", "offset": [2723, 2736]}, {"key": "condition-precedent", "type": "clause", "offset": [2793, 2812]}, {"key": "right-to-perform", "type": "clause", "offset": [2824, 2840]}, {"key": "evidence-of", "type": "clause", "offset": [2882, 2893]}, {"key": "public-liability", "type": "definition", "offset": [2894, 2910]}, {"key": "appropriate-insurance", "type": "clause", "offset": [2921, 2942]}, {"key": "an-additional-insured", "type": "clause", "offset": [2960, 2981]}, {"key": "physical-condition-of-the-property", "type": "clause", "offset": [3018, 3052]}, {"key": "inspection-report", "type": "definition", "offset": [3080, 3097]}, {"key": "defined-in-section", "type": "clause", "offset": [3099, 3117]}, {"key": "hazardous-or-toxic-materials", "type": "clause", "offset": [3188, 3216]}, {"key": "at-buyer", "type": "definition", "offset": [3286, 3294]}, {"key": "sole-expense", "type": "definition", "offset": [3297, 3309]}, {"key": "free-and-clear", "type": "clause", "offset": [3341, 3355]}, {"key": "seller-related-party", "type": "clause", "offset": [3420, 3440]}, {"key": "liabilities-and-expenses", "type": "clause", "offset": [3519, 3543]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [3555, 3575]}, {"key": "court-costs", "type": "clause", "offset": [3586, 3597]}, {"key": "damage-to-the-property", "type": "clause", "offset": [3637, 3659]}, {"key": "injury-to-persons", "type": "clause", "offset": [3664, 3681]}, {"key": "no-liability", "type": "definition", "offset": [3846, 3858]}, {"key": "indemnity-obligation", "type": "clause", "offset": [3862, 3882]}, {"key": "value-of-the-property", "type": "definition", "offset": [3909, 3930]}, {"key": "same-condition", "type": "clause", "offset": [4188, 4202]}, {"key": "and-representatives", "type": "clause", "offset": [4285, 4304]}, {"key": "telephonic-notice", "type": "clause", "offset": [4344, 4361]}, {"key": "records-and-other-materials", "type": "clause", "offset": [4414, 4441]}, {"key": "relating-to", "type": "definition", "offset": [4442, 4453]}, {"key": "the-condition-of-the-property", "type": "clause", "offset": [4454, 4483]}, {"key": "the-office", "type": "clause", "offset": [4510, 4520]}, {"key": "information-provided", "type": "clause", "offset": [4560, 4580]}, {"key": "with-respect-to", "type": "clause", "offset": [4605, 4620]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [4654, 4679]}, {"key": "obligations-of-buyer", "type": "clause", "offset": [4709, 4729]}, {"key": "termination-of-the-agreement", "type": "clause", "offset": [4767, 4795]}, {"key": "a-contractor", "type": "clause", "offset": [4818, 4830]}, {"key": "home-inspector", "type": "definition", "offset": [4834, 4848]}, {"key": "costs-of", "type": "clause", "offset": [5101, 5109]}, {"key": "person-or-entity", "type": "clause", "offset": [5184, 5200]}, {"key": "owned-or-controlled", "type": "definition", "offset": [5376, 5395]}, {"key": "affiliate-of", "type": "definition", "offset": [5411, 5423]}, {"key": "a-copy-of-the", "type": "clause", "offset": [5494, 5507]}, {"key": "report-to", "type": "definition", "offset": [5531, 5540]}, {"key": "prior-to-the", "type": "clause", "offset": [5548, 5560]}, {"key": "cost-of", "type": "clause", "offset": [5710, 5717]}, {"key": "five-percent", "type": "clause", "offset": [5756, 5768]}, {"key": "identified-property", "type": "definition", "offset": [5809, 5828]}, {"key": "after-closing", "type": "clause", "offset": [5980, 5993]}, {"key": "mutually-agreed", "type": "clause", "offset": [6106, 6121]}, {"key": "by-buyer-and-seller", "type": "clause", "offset": [6127, 6146]}, {"key": "held-in-escrow", "type": "clause", "offset": [6157, 6171]}, {"key": "the-escrow", "type": "definition", "offset": [6175, 6185]}, {"key": "completed-by", "type": "clause", "offset": [6226, 6238]}, {"key": "days-after", "type": "definition", "offset": [6269, 6279]}, {"key": "the-purchase-price", "type": "clause", "offset": [6304, 6322]}, {"key": "repairs-or-replacements", "type": "clause", "offset": [6352, 6375]}, {"key": "normal-wear-and-tear", "type": "clause", "offset": [6458, 6478]}, {"key": "reduction-in", "type": "definition", "offset": [6514, 6526]}, {"key": "in-this-agreement", "type": "definition", "offset": [6630, 6647]}, {"key": "the-cost", "type": "clause", "offset": [6652, 6660]}, {"key": "repairs-and-replacements", "type": "clause", "offset": [6673, 6697]}, {"key": "the-applicable", "type": "clause", "offset": [6954, 6968]}, {"key": "upon-written-notice", "type": "clause", "offset": [7012, 7031]}, {"key": "the-closing-of-the-transaction", "type": "clause", "offset": [7118, 7148]}, {"key": "equal-to", "type": "definition", "offset": [7235, 7243]}, {"key": "the-product", "type": "clause", "offset": [7244, 7255]}, {"key": "in-accordance-with", "type": "definition", "offset": [7428, 7446]}, {"key": "if-buyer-terminates", "type": "clause", "offset": [7498, 7517]}, {"key": "no-further-force-or-effect", "type": "clause", "offset": [7601, 7627]}, {"key": "the-parties-will", "type": "clause", "offset": [7629, 7645]}, {"key": "no-further-obligations", "type": "clause", "offset": [7651, 7673]}, {"key": "other-provisions", "type": "definition", "offset": [7719, 7735]}, {"key": "survive-termination", "type": "clause", "offset": [7751, 7770]}, {"key": "notwithstanding-any-provision", "type": "clause", "offset": [8000, 8029]}, {"key": "in-addition-to-the", "type": "clause", "offset": [8064, 8082]}, {"key": "at-any-time", "type": "clause", "offset": [8133, 8144]}, {"key": "sole-discretion", "type": "definition", "offset": [8195, 8210]}, {"key": "specified-properties", "type": "definition", "offset": [8231, 8251]}, {"key": "exhibit-a", "type": "definition", "offset": [8286, 8295]}, {"key": "excluded-properties", "type": "clause", "offset": [8299, 8318]}, {"key": "subject-to-seller", "type": "definition", "offset": [8347, 8364]}, {"key": "prior-written-consent", "type": "clause", "offset": [8367, 8388]}, {"key": "an-election", "type": "clause", "offset": [8561, 8572]}, {"key": "seller-a", "type": "definition", "offset": [8597, 8605]}, {"key": "days-prior", "type": "definition", "offset": [8706, 8716]}, {"key": "the-notice", "type": "clause", "offset": [8799, 8809]}, {"key": "designated-properties", "type": "clause", "offset": [8825, 8846]}, {"key": "terms-of", "type": "clause", "offset": [8919, 8927]}], "snippet": "(a) Buyer will have a period commencing on the Effective Date and ending at 6:00 PM Pacific Time on June 30, 2015 (the \u201cDue Diligence Period\u201d) to examine, inspect, and investigate the Property and, in Buyer\u2019s sole judgment and discretion, to determine whether Buyer desires to purchase the Property. Buyer shall submit a notice to Seller confirming Buyer has received all Property Information. If Seller fails to provide all necessary documents to Buyer within 30 days of the Effective Date, Buyer may terminate this Agreement.\n(b) Buyer may terminate this Agreement for any or no reason by giving written notice of such termination to Seller on or before the last day of the Due Diligence Period. If this Agreement is terminated pursuant to this Section 7, the Deposit shall be immediately refunded to Buyer, and neither party shall have any further liability or obligation to the other under this Agreement except for the indemnity provisions set forth in Section 7(c) of this Agreement and any other provision of this Agreement that is expressly intended to survive the termination of this Agreement. In the event this Agreement is terminated during the Due Diligence Period, Escrow Holder shall return Buyer\u2019s Deposit immediately and Seller shall not cause Escrow Holder to delay the return of the Deposit to Buyer for any reason. If Buyer does not elect to exercise its right to terminate this Agreement during the Due Diligence Period, then Buyer shall notify Seller of Buyer\u2019s intention to acquire the Property before the expiration of the Due Diligence Period. If Buyer does not, before the expiration of the Due Diligence Period, either affirmatively notify Seller of its desire to acquire the Property or send a termination notice to Seller, then Buyer will be deemed to have elected to terminate this Agreement. If Buyer elects to proceed to purchase the Property, and this Agreement is not terminated or deemed terminated before the expiration of the Due Diligence Period, then the Deposit shall be non-refundable except in the event of a default hereunder by Seller.\n(c) Subject to the rights of tenants under the Leases, Seller will provide to Buyer reasonable access to the Property for the purpose of examining any or all aspects thereof, including conducting on a non-destructive basis, surveys, architectural, engineering, non-invasive geo-technical and environmental inspections and tests, and any other inspections, studies, or tests reasonably required by Buyer. Buyer shall give Seller reasonable notice by telephone or e-mail before entering onto any of the properties that comprise the Property to perform inspections or tests, and in the case of tests (i) Buyer shall specify to Seller the precise nature of the test to be performed, and (ii) Seller may require, as a condition precedent to Buyer\u2019s right to perform any such test, that Buyer deliver Seller evidence of public liability and other appropriate insurance naming Seller as an additional insured thereunder. Such examination of the physical condition of the Property, including the Third Party Inspection Report (defined in Section 7(d) below) may include an examination for the presence or absence of hazardous or toxic materials, substances or wastes, which shall be performed or arranged by Buyer at Buyer\u2019s sole expense. Buyer shall keep the Property free and clear of any liens and will indemnify, protect, defend, and hold each Seller Related Party (defined below) harmless from and against all losses, costs, damages, claims, liabilities and expenses (including reasonable attorneys\u2019 fees and court costs) (collectively, \u201cLosses\u201d) arising from damage to the Property and injury to persons asserted against or incurred by any Seller Related Party as a result of such entry by Buyer, its agents, employees or representatives (except that Buyer shall have no liability or indemnity obligation for any diminution in the value of the Property as a result of any unfavorable analysis, test, study, opinion or recommendation made to or for or reach by Buyer). If any inspection or test disturbs the Property and Buyer does not acquire the Property, Buyer will restore the Property to substantially the same condition as existed prior to any such inspection or test. Buyer and its agents, employees, and representatives may, upon not less than 24 hours prior telephonic notice to Seller, examine and make copies of all books and records and other materials relating to the condition of the Property in Seller\u2019s possession at the office where such records are maintained. Any information provided to or obtained by Buyer with respect to the Property shall be subject to the provisions of Section 22(p) of this Agreement. The obligations of Buyer under this Section shall survive the termination of the Agreement.\n(d) Buyer may retain a contractor or home inspector to prepare a report or reports describing the physical condition of the Property (collectively, the \u201cThird Party Inspection Report\u201d), which Third Party Inspection Report shall adequately identify any necessary repairs or improvements and the estimated costs of such repairs or improvements (collectively, the \u201cNecessary Repairs\u201d). The person or entity preparing the Third Party Inspection Report must be licensed to perform such inspections in the jurisdiction where the Property is located, and may not be, or have ever been, owned or controlled by Buyer or an affiliate of Buyer or otherwise not at arm\u2019s length from Buyer. Buyer will provide a copy of the Third Party Inspection Report to Seller prior to the expiration of the Due Diligence Period. If any Necessary Repairs are identified in the Third Party Inspection Report, then, so long as the estimated cost of the Necessary Repairs does not exceed five percent (5%) of the Assigned Home Value for the identified Property in need of the Necessary Repairs (collectively, the \u201cNecessary Repair Property\u201d), Seller shall have the right to either (i) make the Necessary Repairs after Closing and the estimated cost of the Necessary Repairs, as set forth in the Third Party Inspection Report or an amount mutually agreed upon by Buyer and Seller, shall be held in escrow by the Escrow Holder until such Necessary Repairs are completed by Seller within forty-five (45) days after Closing, or (ii) reduce the Purchase Price by the estimated cost of the repairs or replacements set forth in the Third Party Inspection Report for the Necessary Repair Property. Normal wear and tear shall not constitute grounds for a reduction in the Purchase Price. Notwithstanding anything stated to the contrary in Section 5(c) above or elsewhere in this Agreement, if the cost to make the repairs and replacements identified in the Third Party Inspection Report exceeds five percent (5%) of the Assigned Home Value for any applicable Necessary Repair Property, and Buyer and Seller do not otherwise mutually agree upon an amount to allocate to the Necessary Repairs for the applicable Necessary Repair Property, then Buyer may, upon written notice to Seller and prior to the end of the Due Diligence Period, elect to (i) proceed with the closing of the transaction as contemplated in this Agreement with a reduction in the Purchase Price in an amount equal to the product of five percent (5%) and the Assigned Home Value for the applicable Necessary Repair Property, (ii) exclude such Necessary Repair Property from the Property being acquired in accordance with this Agreement, or (iii) terminate this Agreement. If Buyer terminates this Agreement in accordance with this Section 7(d), then this Agreement will have no further force or effect, the parties will have no further obligations to each other (except for any indemnities or other provisions that expressly survive termination of this Agreement) and Escrow Holder shall refund the Deposit to Buyer. The reductions to the Purchase Price contemplated in this Section 7(d) are in addition to those contemplated in Section 5(b) and 5(c) of this Agreement.\n(e) Notwithstanding any provision to the contrary set forth herein, in addition to the rights set forth in Sections 5(c), 5(b) and 7(d), at any time during the Due Diligence Period, Buyer may in its sole discretion, elect to designate specified properties from the properties identified on Exhibit A as Excluded Properties as defined in Section 5(c), subject to Seller\u2019s prior written consent, which consent shall not be unreasonably withheld or delayed, if Buyer elects to purchase fewer than 90% of the properties that comprise the Property. In the event of such an election, Buyer shall deliver to Seller a notice stating which properties it has designated as Excluded Properties no later than fifteen (15) days prior to the end of the Due Diligence Period (the \u201cNotice to Seller\u201d). Upon delivery of the Notice to Seller, the designated properties described in the Notice to Seller shall be Excluded Properties, and the terms of Section 5(c) shall apply with respect thereto.", "samples": [{"hash": "eBtfirSoZ2f", "uri": "/contracts/eBtfirSoZ2f#due-diligence-period", "label": "Real Estate Purchase and Sale Agreement (Reven Housing REIT, Inc.)", "score": 26.1690616608, "published": true}], "size": 49, "hash": "8cc91207e6a259d758b47721042edcef", "id": 2}, {"snippet_links": [{"key": "the-parties-hereto", "type": "clause", "offset": [0, 18]}, {"key": "agreement-date", "type": "definition", "offset": [53, 67]}, {"key": "the-company-and-its-business", "type": "clause", "offset": [154, 182]}, {"key": "schedules-to-this-agreement", "type": "clause", "offset": [211, 238]}, {"key": "and-the-shareholder", "type": "clause", "offset": [325, 344]}, {"key": "provide-the", "type": "clause", "offset": [361, 372]}, {"key": "to-the-buyer", "type": "clause", "offset": [393, 405]}, {"key": "after-the-agreement", "type": "clause", "offset": [443, 462]}, {"key": "schedule-delivery-date", "type": "definition", "offset": [474, 496]}, {"key": "in-connection-with", "type": "clause", "offset": [500, 518]}, {"key": "delivery-of-the", "type": "clause", "offset": [523, 538]}, {"key": "certify-that", "type": "clause", "offset": [594, 606]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [607, 641]}, {"key": "true-and-correct", "type": "clause", "offset": [689, 705]}, {"key": "in-the-event-the", "type": "clause", "offset": [740, 756]}, {"key": "scheduled-delivery-date", "type": "definition", "offset": [854, 877]}, {"key": "buyer-shall", "type": "clause", "offset": [884, 895]}, {"key": "right-to-terminate-this-agreement", "type": "clause", "offset": [905, 938]}, {"key": "at-any-time", "type": "clause", "offset": [939, 950]}, {"key": "prior-to-the-delivery", "type": "clause", "offset": [951, 972]}, {"key": "right-to-conduct", "type": "clause", "offset": [1119, 1135]}, {"key": "review-of-the-company", "type": "clause", "offset": [1161, 1182]}, {"key": "not-limited", "type": "clause", "offset": [1216, 1227]}, {"key": "by-a-third-party", "type": "clause", "offset": [1267, 1283]}, {"key": "due-diligence-expiration-date", "type": "definition", "offset": [1462, 1491]}, {"key": "item-information", "type": "definition", "offset": [1560, 1576]}, {"key": "trade-secrets", "type": "definition", "offset": [1578, 1591]}, {"key": "business-plans", "type": "clause", "offset": [1593, 1607]}, {"key": "customer-contracts", "type": "clause", "offset": [1621, 1639]}, {"key": "access-to", "type": "clause", "offset": [1655, 1664]}, {"key": "diligence-limitations", "type": "clause", "offset": [1739, 1760]}, {"key": "for-clarification", "type": "clause", "offset": [1852, 1869]}, {"key": "the-seller-shall", "type": "clause", "offset": [1871, 1887]}, {"key": "make-available", "type": "definition", "offset": [1888, 1902]}, {"key": "buyer-may", "type": "definition", "offset": [1939, 1948]}, {"key": "payment-terms", "type": "clause", "offset": [1981, 1994]}, {"key": "termination-provisions", "type": "definition", "offset": [2000, 2022]}, {"key": "term-of", "type": "clause", "offset": [2028, 2035]}, {"key": "waiver-of-the", "type": "clause", "offset": [2220, 2233]}, {"key": "due-diligence-contingency", "type": "clause", "offset": [2234, 2259]}, {"key": "waiver-of-right", "type": "clause", "offset": [2283, 2298]}, {"key": "the-transaction", "type": "clause", "offset": [2313, 2328]}, {"key": "loan-contingency", "type": "clause", "offset": [2339, 2355]}, {"key": "buyer-will", "type": "clause", "offset": [2378, 2388]}, {"key": "negotiate-in-good-faith", "type": "definition", "offset": [2389, 2412]}, {"key": "an-appropriate", "type": "clause", "offset": [2413, 2427]}, {"key": "restrictive-covenant-agreement", "type": "definition", "offset": [2428, 2458]}, {"key": "sole-and-absolute-discretion", "type": "clause", "offset": [2589, 2617]}, {"key": "business-is", "type": "definition", "offset": [2655, 2666]}, {"key": "to-buyer", "type": "definition", "offset": [2682, 2690]}, {"key": "notice-to-the", "type": "clause", "offset": [2727, 2740]}, {"key": "and-the-company", "type": "clause", "offset": [2753, 2768]}, {"key": "escrow-agent-shall", "type": "clause", "offset": [2930, 2948]}, {"key": "the-deposit", "type": "clause", "offset": [2956, 2967]}, {"key": "the-parties-shall", "type": "clause", "offset": [2985, 3002]}, {"key": "all-obligations", "type": "clause", "offset": [3018, 3033]}, {"key": "survive-termination", "type": "clause", "offset": [3127, 3146]}, {"key": "pursuant-to", "type": "definition", "offset": [3193, 3204]}, {"key": "agrees-to", "type": "clause", "offset": [3233, 3242]}, {"key": "original-company", "type": "definition", "offset": [3263, 3279]}, {"key": "due-diligence-materials-provided", "type": "clause", "offset": [3282, 3314]}, {"key": "other-due-diligence", "type": "clause", "offset": [3377, 3396]}, {"key": "upon-request", "type": "definition", "offset": [3468, 3480]}, {"key": "by-the-company", "type": "clause", "offset": [3481, 3495]}, {"key": "written-confirmation", "type": "definition", "offset": [3504, 3524]}, {"key": "in-writing", "type": "clause", "offset": [3580, 3590]}, {"key": "the-condition", "type": "clause", "offset": [3720, 3733]}, {"key": "full-force-and-effect", "type": "definition", "offset": [3829, 3850]}, {"key": "according-to", "type": "definition", "offset": [3851, 3863]}], "snippet": "The Parties hereto acknowledge that Buyer, as of the Agreement Date, has not yet had an opportunity to fully review, examine, and evaluate all aspects of the Company and its business, as among other things, the schedules to this Agreement have not been completed and attached to this Agreement (the \u201cSchedules\u201d). The Company and the Shareholder hereby agree to provide the completed Schedules to the Buyer no later than ten (10) Business Days after the Agreement Date (the \u201cSchedule Delivery Date\u201d). In connection with the delivery of the completed Schedules, the Company and Shareholder shall certify that the representations and warranties provided in connection with such Schedules are true and correct as of the Schedule Delivery Date. In the event the Company and Shareholder do not deliver the completed and certified Schedules to the Buyer by the Scheduled Delivery Date, then Buyer shall have the right to terminate this Agreement at any time prior to the delivery of the completed and certified Schedules to the Buyer. The Company and Shareholder hereby agree that Buyer and its representatives shall have the right to conduct reasonable due diligence review of the Company as limited below, including, but not limited to have the Company\u2019s assets appraised by a third party and to have the financials of the Company reviewed and audited, and if, on or prior to 6:00 p.m., ET, on the date that is thirty (30) days after the Schedule Delivery Date (the \u201cDue Diligence Expiration Date\u201d). The due diligence review will not include individualized or line-item information, trade secrets, business plans, un-redacted customer contracts, and/or direct access to any supplier(s), vendor(s), employee(s), or customer(s) information (\u201cDue Diligence Limitations\u201d) until after the Due Diligence Expiration Date or the contingency herein has been waived. For clarification, the Seller shall make available redacted customer contracts so that Buyer may verify, among other things, the payment terms, the termination provisions, the term of such contracts and the assignability provisions thereof. In the event that the Buyer wishes access beyond the Due Diligence Limitations prior to the Due Diligence Expiration Date, the waiver of the due diligence contingency herein, or the Buyer\u2019s waiver of right not to cancel the transaction under the loan contingency, then the Company and Buyer will negotiate in good faith an appropriate restrictive covenant agreement containing standard non-disclosure, non-solicitation and non-compete provisions (\u201cDue Diligence RC\u201d). If Buyer determines, in its sole and absolute discretion, that the Company and its assets and business is unsatisfactory to Buyer, Buyer shall have the right to give notice to the Shareholder and the Company electing to terminate this Agreement, provided such notice is delivered no later than 6:00 p.m., ET, on the Due Diligence Expiration Date, and in such event the Escrow Agent shall return the Deposit to the Buyer and the Parties shall be released of all obligations, each to the other hereunder, other than those obligations specifically stated herein to the survive termination. In the event Buyer terminates this Agreement pursuant to this Section 1.5, the Buyer agrees to promptly return all original Company\u2019s due diligence materials provided to the Buyer (the \u201cDue Diligence Materials\u201d), and destroy all other Due Diligence Materials in the Buyer\u2019s possession, including all copies thereof, and upon request by the Company provide written confirmation certifying thereto. In the event Buyer does not elect, in writing, to terminate this Agreement pursuant to this Section 1.5 on or before 6:00 p.m., ET, on the Due Diligence Expiration Date, then the condition set forth herein shall be deemed satisfied and the remainder of this Agreement shall remain in full force and effect according to its terms.", "samples": [{"hash": "cILT4MnRoHM", "uri": "/contracts/cILT4MnRoHM#due-diligence-period", "label": "Stock Purchase and Sale Agreement (Transportation & Logistics Systems, Inc.)", "score": 33.4928131104, "published": true}], "size": 34, "hash": "9e2e0d56edf13886595687a550de83da", "id": 3}, {"snippet_links": [{"key": "subject-to", "type": "clause", "offset": [23, 33]}, {"key": "period-of-days", "type": "clause", "offset": [50, 64]}, {"key": "binding-agreement-date", "type": "definition", "offset": [74, 96]}], "snippet": "Property is being sold subject to a Due Diligence Period of days from the Binding Agreement Date. b.", "samples": [{"hash": "53bwwIEPjfV", "uri": "/contracts/53bwwIEPjfV#due-diligence-period", "label": "Purchase and Sale Agreement", "score": 33.8792419434, "published": true}, {"hash": "izledjhKhlW", "uri": "/contracts/izledjhKhlW#due-diligence-period", "label": "Purchase and Sale Agreement", "score": 33.6926689148, "published": true}, {"hash": "g15ryXMXFQu", "uri": "/contracts/g15ryXMXFQu#due-diligence-period", "label": "Purchase and Sale Agreement", "score": 32.556968689, "published": true}], "size": 28, "hash": "3946f7eeb40016fe0a1a54edbf53c103", "id": 4}, {"snippet_links": [{"key": "date-of", "type": "clause", "offset": [15, 22]}], "snippet": "The expiration date of the Due Diligence Period is extended from September 5, 1997 to and including September 15, 1997.", "samples": [{"hash": "fRlkx0nxgSz", "uri": "/contracts/fRlkx0nxgSz#due-diligence-period", "label": "Purchase and Sale Agreement (Meridian Industrial Trust Inc)", "score": 16.0, "published": true}, {"hash": "cqvMK3CWQ9v", "uri": "/contracts/cqvMK3CWQ9v#due-diligence-period", "label": "Purchase and Sale Agreement (Meridian Industrial Trust Inc)", "score": 16.0, "published": true}, {"hash": "bHEY0HOmLgk", "uri": "/contracts/bHEY0HOmLgk#due-diligence-period", "label": "Purchase and Sale Agreement (Meridian Industrial Trust Inc)", "score": 16.0, "published": true}], "size": 17, "hash": "adb2a899f27b723760047a6fd8ac7347", "id": 5}, {"snippet_links": [{"key": "expiration-of-the-due-diligence-period", "type": "definition", "offset": [4, 42]}, {"key": "defined-in-section", "type": "clause", "offset": [47, 65]}, {"key": "the-contract", "type": "definition", "offset": [75, 87]}], "snippet": "The expiration of the Due Diligence Period, as defined in Section 10(a) of the Contract, is hereby extended to October 20, 2017.", "samples": [{"hash": "fH18MQ8E07l", "uri": "/contracts/fH18MQ8E07l#due-diligence-period", "label": "Contract for Purchase and Sale of Real Estate (Pure Cycle Corp)", "score": 28.8713207245, "published": true}, {"hash": "bEmQCh4GxCl", "uri": "/contracts/bEmQCh4GxCl#due-diligence-period", "label": "Contract for Purchase and Sale of Real Estate (Pure Cycle Corp)", "score": 28.8713207245, "published": true}], "size": 16, "hash": "97dddd3ad726440f20bb080459b80b3e", "id": 8}, {"snippet_links": [{"key": "buyer-shall", "type": "clause", "offset": [0, 11]}, {"key": "period-of", "type": "clause", "offset": [19, 28]}, {"key": "contract-date", "type": "clause", "offset": [59, 72]}, {"key": "examination-of-the-property", "type": "clause", "offset": [89, 116]}, {"key": "in-accordance-with", "type": "definition", "offset": [117, 135]}, {"key": "section-3", "type": "clause", "offset": [141, 150]}], "snippet": "Buyer shall have a period of sixty (60) days following the Contract Date to complete its examination of the Property in accordance with this Section 3 (the \u201cDue Diligence Period\u201d).", "samples": [{"hash": "ju417Us92Lw", "uri": "/contracts/ju417Us92Lw#due-diligence-period", "label": "Real Estate Purchase Agreement", "score": 30.8391151428, "published": true}, {"hash": "dRwnhj2dwi3", "uri": "/contracts/dRwnhj2dwi3#due-diligence-period", "label": "Real Estate Purchase Agreement", "score": 28.5318641663, "published": true}, {"hash": "jvzlbfW9A0H", "uri": "/contracts/jvzlbfW9A0H#due-diligence-period", "label": "Real Estate Purchase Agreement", "score": 25.6408538818, "published": true}], "size": 17, "hash": "73dcbf947e86dc745a323d90ed47e2b5", "id": 6}, {"snippet_links": [{"key": "buyer-shall", "type": "clause", "offset": [0, 11]}, {"key": "from-the-effective-date", "type": "clause", "offset": [17, 40]}, {"key": "condition-of-the-improvements", "type": "clause", "offset": [228, 257]}, {"key": "due-diligence-review-of-the-property", "type": "clause", "offset": [289, 325]}, {"key": "in-accordance-with", "type": "definition", "offset": [326, 344]}, {"key": "the-terms", "type": "definition", "offset": [345, 354]}, {"key": "items-to-be-furnished", "type": "clause", "offset": [386, 407]}, {"key": "by-seller-to-buyer", "type": "clause", "offset": [408, 426]}, {"key": "section-33", "type": "definition", "offset": [439, 450]}, {"key": "records-and-other-materials", "type": "clause", "offset": [460, 487]}], "snippet": "Buyer shall have from the Effective Date until April 29, 2011 (such period being the \u201cDue Diligence Period\u201d) to physically inspect the Property, review the economic data, conduct appraisals, perform examinations of the physical condition of the Improvements, and to otherwise conduct such due diligence review of the Property in accordance with the terms hereof and a review all of the items to be furnished by Seller to Buyer pursuant to Section 3.3, and all records and other materials related thereto as Buyer deems appropriate.", "samples": [{"hash": "iYUNEdiDoDD", "uri": "/contracts/iYUNEdiDoDD#due-diligence-period", "label": "Purchase and Sale Agreement (Grubb & Ellis Healthcare REIT II, Inc.)", "score": 22.3141689301, "published": true}, {"hash": "3Swu5VBd7uT", "uri": "/contracts/3Swu5VBd7uT#due-diligence-period", "label": "Purchase and Sale Agreement (Grubb & Ellis Healthcare REIT II, Inc.)", "score": 22.3141689301, "published": true}, {"hash": "2y0RSFYo2Pu", "uri": "/contracts/2y0RSFYo2Pu#due-diligence-period", "label": "Purchase and Sale Agreement (Grubb & Ellis Healthcare REIT II, Inc.)", "score": 22.3141689301, "published": true}], "size": 16, "hash": "17642756ef1ea293257356ba7800d18a", "id": 7}, {"snippet_links": [{"key": "the-buyer-shall", "type": "clause", "offset": [0, 15]}, {"key": "calendar-days", "type": "definition", "offset": [35, 48]}, {"key": "the-day", "type": "definition", "offset": [54, 61]}, {"key": "the-property", "type": "clause", "offset": [141, 153]}, {"key": "opportunity-to-investigate", "type": "clause", "offset": [195, 221]}, {"key": "the-provisions-of", "type": "clause", "offset": [274, 291]}, {"key": "sole-and-absolute-discretion", "type": "clause", "offset": [343, 371]}, {"key": "to-acquire", "type": "definition", "offset": [388, 398]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [424, 448]}, {"key": "by-buyer", "type": "clause", "offset": [490, 498]}, {"key": "during-the-due-diligence-period", "type": "clause", "offset": [499, 530]}, {"key": "at-buyer", "type": "definition", "offset": [539, 547]}, {"key": "right-to-review", "type": "clause", "offset": [580, 595]}, {"key": "title-reports", "type": "definition", "offset": [600, 613]}, {"key": "other-correspondence", "type": "clause", "offset": [655, 675]}, {"key": "relating-to", "type": "definition", "offset": [690, 701]}, {"key": "city-agrees", "type": "clause", "offset": [746, 757]}, {"key": "additional-documentation", "type": "definition", "offset": [766, 790]}, {"key": "expiration-of-the-due-diligence-period", "type": "definition", "offset": [851, 889]}, {"key": "city-shall", "type": "clause", "offset": [891, 901]}, {"key": "copies-of", "type": "definition", "offset": [910, 919]}, {"key": "buyer-acknowledges", "type": "clause", "offset": [954, 972]}, {"key": "no-representation-or-warranty", "type": "clause", "offset": [989, 1018]}, {"key": "accuracy-or-completeness", "type": "clause", "offset": [1040, 1064]}, {"key": "information-provided-to-buyer", "type": "clause", "offset": [1072, 1101]}, {"key": "available-to", "type": "definition", "offset": [1110, 1122]}], "snippet": "The Buyer shall have fourteen (14) calendar days from the day escrow opens as a \u201cDue Diligence Period\u201d to investigate and conduct studies on the Property. During this period, Buyer shall have an opportunity to investigate and inspect all aspects of the Property, subject to the provisions of Paragraph 13 hereof, and determine, in the Buyer\u2019s sole and absolute discretion, whether or not to acquire the Property pursuant to the terms and conditions set forth herein. Any studies undertaken by Buyer during the Due Diligence Period will be at Buyer\u2019s expense. Buyer shall have the right to review any title reports, surveys, toxic and soil studies and all other correspondence and documents relating to the Property that are in CITY\u2019s possession. CITY agrees that if additional documentation relating to the Property comes into CITY\u2019s possession after expiration of the Due Diligence Period, CITY shall provide copies of such documents promptly to Buyer. Buyer acknowledges that CITY makes no representation or warranty whatsoever as to the accuracy or completeness of any information provided to Buyer or made available to Buyer under this paragraph.", "samples": [{"hash": "2XD6Y85EUqj", "uri": "/contracts/2XD6Y85EUqj#due-diligence-period", "label": "Real Property Purchase and Sale Agreement", "score": 22.2772083282, "published": true}, {"hash": "j9GVXdBS5b", "uri": "/contracts/j9GVXdBS5b#due-diligence-period", "label": "Real Property Purchase and Sale Agreement", "score": 22.0088977814, "published": true}, {"hash": "b37YeqEG0Or", "uri": "/contracts/b37YeqEG0Or#due-diligence-period", "label": "Real Property Purchase and Sale Agreement", "score": 22.0047912598, "published": true}], "size": 14, "hash": "9b3409bed9b7ca997de356507408c332", "id": 9}, {"snippet_links": [{"key": "period-of-time", "type": "clause", "offset": [2, 16]}, {"key": "commencing-on-the-effective-date", "type": "clause", "offset": [17, 49]}, {"key": "california-time", "type": "clause", "offset": [75, 90]}, {"key": "on-february", "type": "clause", "offset": [92, 103]}], "snippet": "A period of time commencing on the Effective Date and ending at 5:00 p.m., California time, on February 10, 2015.\u201d", "samples": [{"hash": "9C2GDt1bq9W", "uri": "/contracts/9C2GDt1bq9W#due-diligence-period", "label": "Purchase and Sale Agreement (Rancon Realty Fund Iv)", "score": 26.3634490967, "published": true}, {"hash": "48DSOCAcOlA", "uri": "/contracts/48DSOCAcOlA#due-diligence-period", "label": "Purchase and Sale Agreement (Rancon Realty Fund V)", "score": 26.3634490967, "published": true}], "size": 13, "hash": "1c3bcf71e27154f2c7f509d6b1ab775c", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1kdWUtZGlsaWdlbmNlLXBlcmlvZCMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["due-diligence-period", "Due Diligence Period"], ["", ""], ["matters-to-be-reviewed", "Matters To Be Reviewed"], ["insurance", "Insurance"], ["confidentiality", "Confidentiality"]], "title": "Due Diligence Period", "size": 1563, "parents": [["due-diligence", "Due Diligence"], ["inspection-and-due-diligence-period", "Inspection and Due Diligence Period"], ["due-diligence-period", "Due Diligence Period"], ["buyers-due-diligence", "Buyers Due Diligence"], ["whereas", "WHEREAS"]], "id": "due-diligence-period", "related": [["due-diligence-review", "Due Diligence Review", "Due Diligence Review"], ["buyers-due-diligence", "Buyer\u2019s Due Diligence", "Buyer\u2019s Due Diligence"], ["due-diligence-investigation", "Due Diligence Investigation", "Due Diligence Investigation"], ["due-diligence", "Due Diligence", "Due Diligence"], ["due-diligence-cooperation", "Due Diligence Cooperation", "Due Diligence Cooperation"]], "related_snippets": [], "updated": "2026-10-13T06:45:23+00:00", "also_ask": ["What is the optimal length for the due diligence period to balance buyer protection and deal certainty?", "Which representations, warranties, or access rights are essential to include during the due diligence period?", "How can parties structure termination or extension rights to minimize risk and maximize leverage?", "What are the most common pitfalls or ambiguities in due diligence period clauses that courts have found unenforceable?", "How does the due diligence period in this agreement compare to industry standards or similar transactions?"], "drafting_tip": "Specify the exact duration and start date to prevent timing disputes; outline permitted activities to clarify parties\u2019 rights; require written notice for extensions to ensure enforceability.", "explanation": "The Due Diligence Period clause establishes a specific timeframe during which a party, typically a buyer, is permitted to investigate and assess the subject of a transaction, such as real estate or a business. During this period, the buyer may review documents, conduct inspections, and verify information to ensure the asset meets their requirements and expectations. This clause is essential for providing the buyer with an opportunity to identify any issues or risks before finalizing the deal, thereby reducing uncertainty and facilitating informed decision-making."}, "json": true, "cursor": ""}}