Common use of Engineering Inspection Clause in Contracts

Engineering Inspection. It is agreed that within ten (10) days prior to the Closing Date, Buyer's engineer may inspect the property transferred to insure that the equipment complies with all warranties and conditions set forth herein. Seller agrees to extend full cooperation to said engineer, including such access to the equipment and to logs pertaining thereto at such time or times as said engineer shall reasonably request. If Buyer's engineer reports that the equipment fails to comply with said warranties, and Seller disputes the report, Buyer and Seller shall jointly hire and pay a consulting engineer to give a report on the disputed item(s). The consulting engineer's report shall be final, and Seller shall repair any equipment that the consulting engineer reports does not meet the warranty set forth in Subsection 4.2(b) prior to the Closing; provided, however, Seller's obligation to repair shall not exceed Fifteen Thousand Dollars ($15,000). If the repairs required exceed such amount and Seller refuses to make such repairs in excess of the cap, Buyer may, at its sole option, either proceed with this Agreement or terminate this Agreement and have the Escrow Amount returned to it.

Engineering Inspection. It is agreed that within ten (10) ---------------------- days prior to the Closing Date, BuyerPurchaser's engineer may inspect the property transferred Assets to insure that the its equipment complies with all warranties and conditions set forth herein. Seller Sellers agrees to extend full cooperation to said engineer, including such access to the equipment and to logs pertaining thereto at such time or times as said engineer shall reasonably request. If BuyerPurchaser's engineer reports that the equipment fails to comply with said warranties, and Seller disputes Sellers dispute the report, Buyer Purchaser and Seller Sellers shall jointly hire and pay a consulting engineer to give a report on the disputed item(s). The consulting engineer's report shall be final, and Seller Sellers shall repair any equipment that the consulting engineer reports does not meet the warranty set forth in Subsection 4.2(b) prior to the Closing; provided, however, Seller's Sellers' obligation to repair shall not exceed Fifteen Thousand Dollars ($15,000). If the repairs required exceed such amount cap and Seller refuses Sellers refuse to make such repairs in excess of the cap, Buyer Purchaser may, at its sole option, either proceed with this Agreement or terminate this Agreement and have the Escrow Amount Contract Deposit returned to it.