Common use of ENTRY AND INSPECTION Clause in Contracts

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 4 contracts

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc), Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc), Agreement of Sale and Purchase (Preferred Apartment Communities Inc)

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ENTRY AND INSPECTION. (a) Through During the earlier of Closing or Inspection Period, Seller shall make the termination of this AgreementProperty available for inspection by Purchaser, Purchaser’s employees, agents and contractors, during normal business hours and at such other times upon reasonable notice. During the Inspection Period, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments may undertake a complete physical inspection of the Property as Purchaser deems necessaryappropriate. In addition, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment review any files maintained by Seller or its property manager relating to the extent construction, operation, leasing, maintenance and/or management of the Property including, without limitation, appraisals, permits and approvals, rent rolls, financial and operating statements, environmental audits, inspection reports and studies, structural engineering studies, environmental studies (including soil surveys), Service Contracts, plans and specifications, lease files, operating agreements and bills, invoices, receipts and other records relating to the income and expenses of the Property, and to conduct such investigations, tests, surveys and other analyses as Purchaser determines is necessary including, without limitation, entry into or upon any space within the Premises. All such inspections, investigations and examinations shall be undertaken at Purchaser’s sole cost and expense. Seller shall have the option of having one of Seller’s representatives present at any and all on-site inspections. After completing any inspections, Purchaser shall restore and repair any damage caused by Purchaser’s inspections to substantially the same is condition that existed immediately prior to such inspection. Purchaser shall not be completed by a reputableresponsible for any loss, bonded and insured consultant licensed in the State in which claim or damage to the Property is located carrying or to any person related to any environmental or other condition or issue which existed prior to Purchaser’s inspection or to the insurance required existence of any hazardous materials or substances which are discovered during Purchaser’s inspection. Purchaser agrees to use commercially reasonable efforts to not unreasonably disrupt the business operations of any of the Tenants during its inspections under this Section 5.3 below4.2. Seller shall deliver the following items to Purchaser within ten (10) days after the Effective Date (the “Due Diligence Materials”): all information, drawings, permits, correspondence and reports relating to the Property; providedall boundary surveys, howeveras-built surveys and maps pertaining to the Property; all restrictive covenants, that no invasive testing conditions or sampling shall be conducted during restrictions imposed on or benefitting the Property; all engineering data, drawings, plan specifications, site plans and architectural renderings relating to the Property; all book and records of any such entry retailers association pertaining to the Property; all environmental studies, surveys, soil tests, audits, reports and other information relating to the Property including, but not limited to, information pertaining to jurisdictional wetlands, environmental soil conditions or subsurface conditions of the Property; a current rent roll; the Leases and Guaranties; all estoppel certificates and subordination or non-disturbance agreements executed by Purchaser any Tenant with respect to a Lease; financial operating reports and income and expense statements for the Property for the last three (3) years; ad valorem and personal property tax bills for the Property for the last three (3) years; all utility bills for the Property for the most recent month and the six (6) months prior thereto; a list of onsite staff for the Property; all Service Contracts; each ALTA Owner’s Policy of Title Insurance obtained by Seller with respect to the Premises or any Licensee Party upon the Real Property without the applicable part thereof; all mold or moisture reports or plans; Seller’s specific prior written consentpolicy of property and casualty insurance applicable to the Property; and names and addresses of all consultants and engineers retained by Seller to study the Property. Seller shall make available to Purchaser such other documentation as reasonably requested at the Property or Seller’s office. Seller shall cooperate with Purchaser in its due diligence review and investigation of the Property and shall direct its employees, which consent may be withheld, delayed or conditioned agents and management company to cooperate with Purchaser in such Seller’s sole review and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakeninvestigation.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Karat Packaging Inc.), Purchase and Sale Agreement (Karat Packaging Inc.), Purchase and Sale Agreement (Karat Packaging Inc.)

ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct conducted such tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s 's acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the "Licensee Parties") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party will communicate. At the applicable Seller’s 's option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s 's sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 2 contracts

Samples: Agreement of Sale and Purchase (Maguire Properties Inc), Agreement of Sale and Purchase (Maguire Properties Inc)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this AgreementUpon reasonable, Purchaser and its agentsadvance notice to Landlord, representatives, contractors and consultants Tenant shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) have the right to enter upon the Real Property Premises prior to the Delivery Date for purposes of: (i) inspecting Landlord’s Work and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property Premises; and communicate with Tenants (ii) taking measurements and service providersspace planning; provided, however, Purchaser provided Tenant shall not have materially interfere with the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller completion of Landlord’s Work. In addition, Tenant shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice enter the Premises following substantial completion of the intention MHE Improvements for purposes of Purchaser or storing, installing, and testing Tenant’s MHE Installations. Landlord shall make commercially reasonable efforts to coordinate the other Licensee Parties to enter construction of Landlord’s Work following substantial completion of the Real Property or MHE Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail Tenant in order to allow Tenant the ability to install and test Tenant’s MHE Installations; provided, that (i) Tenant is required to carry its own insurance liability insurance and property insurance in accordance with Section 11.01, (ii) Tenant must comply with Landlord’s reasonable safety and security precautions so long as Landlord has furnished a written copy thereof and such Seller a precautions do not materially increase Tenant’s obligations or materially decrease its rights hereunder or materially impair its ability to install Tenant’s MHE Installations, and (iii) Tenant must use commercially reasonable opportunity efforts to evaluate maintain labor harmony on site to the extent reasonably requested, in writing and in advance, by Landlord in connection with such proposalearly entry and the installation and testing of Tenant’s MHE Installations. If Purchaser any of Tenant’s MHE Installations are damaged by Landlord or its agents, employees, contractors or representatives prior to the Delivery Date, Landlord shall promptly notify Tenant of such damage and Landlord shall cause such damage to be repaired, in a manner reasonably acceptable to Tenant. At all times during Tenant’s use or occupancy of the Premises prior to the Delivery Date, Tenant shall coordinate its activities with Landlord and Landlord’s contractors and shall provide, prior to such use or occupancy, all required insurance certificates requested by Landlord to evidence the insurance that Tenant is required to maintain hereunder. Landlord shall pay, prior to the Delivery Date, all impact fees, traffic mitigation fees, highway fees, signage fees, parking fees, tap fees, utility connection charges, and utility capacity charges related to the development of the Premises (including, but not limited to, Landlord’s Work) or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenoccupancy thereof.

Appears in 2 contracts

Samples: Lease Agreement (American Outdoor Brands Corp), Lease Agreement (American Outdoor Brands, Inc.)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 2 contracts

Samples: Agreement of Sale and Purchase (Preferred Apartment Communities Inc), Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for at all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) reasonable times have the right to enter upon the Real Property Premises to inspect them, to supply services in accordance with this Lease, to make repairs and Improvements at all reasonable timesrenovations as reasonably deemed necessary by Landlord, and to submit the Premises to prospective or actual purchasers or encumbrance holders (or, during normal business hoursthe final twelve months of the Term or when an uncured Default exists, to perform inspections prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. If reasonably necessary, Landlord may temporarily close all or a portion of the Property Premises (other than the clean room and communicate lab except with Tenants Tenant’s consent or in the event of an emergency posing a serious, imminent threat of property damage or bodily injury) to perform repairs, alterations and service providers; providedadditions permitted or required to be made by Landlord hereunder. Except in emergencies or to provide Building services. Landlord shall provide Tenant with reasonable (and in any event at least 24 hours) advance written or verbal notice of entry and shall use reasonable efforts to minimize any interference with Tenant’s use of the Premises. Except as specifically provided otherwise in this Section, entry by Landlord shall not constitute a constructive eviction or entitle Tenant to an abatement or reduction of Rent. If Landlord temporarily closes the Premises as provided above for a period in excess of 5 consecutive day(s), Tenant, as its sole remedy, shall be entitled to receive a per diem abatement of Basic Rent during the period beginning on the 6th consecutive day of closure and ending on the date on which the Premises are returned to Tenant in a tenantable condition. Tenant, however, Purchaser shall not have be entitled to an abatement if the right repairs, alterations and/or additions to interview Tenants unless interviews be performed are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice required as a result of the intention negligence or willful misconduct of Purchaser Tenant, its agents, employees or contractors or a Default by Tenant in its maintenance and repair obligations under the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenLease.

Appears in 2 contracts

Samples: Lease (Inari Medical, Inc.), Lease (Inari Medical, Inc.)

ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct such conducted certain tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications, but if Seller fails to respond to any communication request within 24 hours after such request, Purchaser shall not be required to coordinate such communication with Seller. Purchaser will provide to Sellers written Seller with telephonic notice (by contacting Xxxxx Xxxxxxxxxx at (000) 000-0000) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party will communicate. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to substantially its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Cb Richard Ellis Realty Trust)

ENTRY AND INSPECTION. (a) 9. Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsinterviews with Tenant and service providers. Purchaser will provide to Sellers Seller written or oral notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Sellerentry or inspection. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (HGR Liquidating Trust)

ENTRY AND INSPECTION. (a) Through the earlier Purchaser shall have rights of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments physical inspection of the Property or the books and records thereof, including without limitation examination of those due diligence matters contained within the items reflected on Exhibit B attached hereto. Seller agrees to promptly furnish the necessary documents stated on Exhibit B for inspection not later than ten (10) days from Effective Date. Purchaser, within twenty one (21) days from the Effective Date (the “Due Diligence Period”), shall specifically approve in writing all matters contained in the items set forth on Exhibit B as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition well as the forms of the Property Closing documents, and the consummation of affirm that Purchaser will proceed with the transaction contemplated by the Agreement for the full Purchase Price. If Purchaser fails to provide timely such unambiguous written approval to Seller by the last day of the Due Diligence Period, this AgreementAgreement shall terminate and be of no further force or effect except that Purchaser shall forfeit its Initial Deposit to Seller, and thereafter the Parties shall have no obligations to each other except for any express surviving indemnity obligations contained herein. Subject to Notwithstanding the provisions foregoing, the Due Diligence Period shall be extended by one (1) day for each day or portion thereof beyond the aforesaid ten (10) day period for delivery of this Section 5.1 and subject to the obligations set forth necessary documents stated on Exhibit B that any of said documents have not been delivered by Seller. Except as otherwise expressly provided in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively13.1 below or in the Closing documents, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections sale of the Property is and communicate will be made on an “AS IS, WHERE IS” basis, with Tenants all defects of any nature, and service providers; providedSeller has not made, howeverdoes not make and specifically negates and disclaims, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice representations, warranties or guaranties of the intention of Purchaser any kind or the other Licensee Parties to enter the Real Property character whatsoever, whether express or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s optionimplied, such Seller may be oral or written, past, present for any such entryor future of, inspection and interview with any Tenants and service providers as to, concerning or with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property other matter whatsoever, including without the applicable Seller’s specific prior written consentlimitation its income, which consent may be withheldits tenancies, delayed or conditioned in such Seller’s sole its value, its zoning, its environmental condition, and absolute discretion; and provided, further, that prior to giving its compliance with any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenlaws.

Appears in 1 contract

Samples: Agreement for Purchase (Wilshire Enterprises Inc)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Seller will permit Purchaser and its employees and authorized agents, representatives, contractors and consultants shall inspect and investigate (the “Licensee Parties”) to enter upon the Real Property and shall conduct such at all reasonable times during normal business hours to perform any inspections, investigations, studies, tests, evaluations and assessments of the Property (including, but not limited to, physical, structural, mechanical, architectural, engineering, soils, geotechnical, and environmental /asbestos tests (generally, “Inspections”) as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable notify Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other any Licensee Parties Party to enter the Real Property or Improvements at least forty-eight two (482) hours business days prior to such intended entry and specify the intended purpose therefor and the inspections and examinations Inspections contemplated to be mademade and/or the service provider, Authorities, or any other person with whom Purchaser or any Licensee Party contemplates communicating. At the applicable Seller’s option, such Seller or its employees or authorized agents, representatives, contractors or consultants (the “Seller Representatives”) may be present for any such entryentry or Inspection. With respect to any Inspection that will require excavations, inspection and interview borings, drilling, removal or demolition of any portion of the Property, or any other invasive activities on the Property (generally, “Invasive Testing”), Purchaser shall submit to Seller a written plan describing such Invasive Testing in reasonable detail (an “Invasive Testing Plan”) for Seller’s written approval, which approval may not be unreasonably withheld or delayed. Purchaser may not proceed with any Tenants Invasive Testing unless Seller has expressly approved in writing the relevant Invasive Testing Plan, and service providers Purchaser shall conduct all Invasive Testing in compliance with respect to the Property owned Invasive Testing Plan approved by such Seller. Purchaser Seller shall have the right to conduct have a Phase I Environmental Assessment Seller Representative observe any testing activities and to the extent the same is to be completed request and receive split samples of any materials collected for analysis by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowPurchaser or any Licensee Party; provided, however, that no invasive testing or sampling Purchaser’s sole responsibility shall be conducted during any such entry by to notify Seller when Purchaser’s testing activities will be taking place, and Seller shall be solely responsible for causing a Seller Representative to be present to observe and/or to request and receive split material samples. Purchaser or any Licensee Party upon shall repair any damage to the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving caused by any such approvalInvasive Testing promptly after any Invasive Testing, such Seller shall be provided with a written sampling plan but in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser no event later than five (5) days after any disturbance or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakendamage occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Safeco Corp)

ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementInspection Period, Purchaser and its agents, representatives, contractors and consultants Seller shall inspect and investigate make the Property and shall conduct such testsall documents, evaluations permits, books, and assessments records pertaining to the property in Sellers possession, available for inspection by Purchaser. During the Inspection Period, Purchaser may, at Purchaser’s sole risk and expense, undertake, or cause to be undertaken on behalf of Purchaser, a complete physical inspection, review and examination of the Property as Purchaser deems necessaryappropriate, appropriate or prudent in any respect including but not limited to soil/groundwater tests and for all purposes in connection with Purchaser’s acquisition of the Property environmental assessments and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives audits (collectively, the “Licensee PartiesProperty Inspections) the right to enter upon the Real Property and Improvements at all reasonable times), during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling any Property Inspections do not cause any permanent damage to the Property. All such Property Inspections shall be conducted undertaken at Purchaser’s sole cost and expense. Additionally, during the Inspection Period, the Purchaser shall seek written approval from its intended user and/or franchisor for the Property. Purchaser will coordinate all on-site inspections with Seller and Seller agrees to reasonably cooperate with Purchaser, including without limitation making Seller and any such entry of Seller’s representatives that are familiar with the Property and its present and past uses available for interview by Purchaser or Purchaser’s agent. After completing any Licensee Party inspections, Purchaser shall restore and repair any damage caused by Purchaser’s inspections. The Purchaser shall, upon completion of Purchaser’s Inspection Period, return the Property to its existing condition, restore and repair any damage caused by any Property Inspections, and shall indemnify and hold the Seller harmless from any damages whatsoever that result in any way from the Purchaser’s Property Inspections. Additionally, during the Inspection Period, the Seller and Purchaser shall negotiate a declaration of covenants, conditions, easements and restrictions that shall run with and be binding upon the Real Property and that, in part, shall provide the easements reasonably determined by Purchaser to be necessary for Purchaser’s Intended Use of the Property, including, without limitation, cross parking, ingress and egress, utilities and/or stormwater management (the applicable Seller’s specific prior written consent“Declaration”). The Declaration shall include a provision that Purchaser shall submit all proposed architectural designs and plans to Seller for review and approval, which consent approval may not be unreasonably withheld, delayed conditioned or conditioned in such Seller’s sole and absolute discretion; and provideddelayed, further, that prior to giving the submittal of any such approvalplans to the City of Lakeland or other permitting or review agency (the “Plan Review Requirement”). The purpose of the Plan Review Requirement is to assure that the orientation and design of the proposed building, such Seller site design, and landscape plan are all compatible with the adjacent City of Lakeland RP Funding Center. The Declaration shall be provided signed at Closing and recorded by the Title Company with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenclosing documents.

Appears in 1 contract

Samples: Purchase and Sale Agreement

ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementProperty Approval Period, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providersthe Tenant; provided, however, Purchaser shall not have the right to interview Tenants communicate with Tenant unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements or interview the Tenant at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations and Tenant interviews contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerTenant. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no No physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Cole Office & Industrial REIT (CCIT II), Inc.)

ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementInspection Period, Purchaser and its agents, representatives, contractors and consultants Seller shall inspect and investigate make the Property available for inspection by Buyer. In addition, within three (3) business days after the Effective Date, Seller shall deliver to Buyer all documents, permits, books, and shall conduct such testsrecords pertaining to the Property in Seller’s possession, evaluations including, without limitation, any title reports, surveys, environmental reports, building plans, wetlands delineations, governmental notices, permits, approvals and assessments septic plans. During the Inspection Period, Buyer may, at Buyer’s sole risk and expense, undertake a complete physical inspection of the Property as Purchaser Buyer deems necessaryappropriate, appropriate or prudent in any respect including but not limited to soil/groundwater tests and for all purposes in connection with Purchaser’s acquisition of the Property environmental assessments and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 belowaudits, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no any such inspection does not cause any permanent damage to the Property. All such inspections, investigations, reviews and examinations shall be undertaken at Buyer’s sole cost and expense. Buyer will coordinate all on-site inspections with Seller and Xxxxxx agrees to reasonably cooperate with Xxxxx, including without limitation making Seller and any of Seller’s representatives that are familiar with the Property and its present and past uses available for interview by Xxxxx or Xxxxx’s agent. After completing any inspections, Buyer, at Buyer’s sole expense shall restore and repair any damage to the Property caused by Buyer’s inspections to the condition that existed prior to such inspections. Xxxxx agrees to indemnify, defend and hold Seller harmless of and from any actual damages or injuries arising from Buyer’s inspection of the Property and, notwithstanding anything to the contrary in this Agreement, the obligations of Buyer under this Section 4.2 shall survive Closing or any termination of this Agreement. Buyer may undertake invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party of the Property upon the Real Property without the applicable Seller’s specific prior written consentnotice to Seller. Buyer shall maintain and shall ensure that any other contractor that tests or inspects the Property (including, which consent may be withheldwithout limitation, delayed or conditioned in such Seller’s sole with respect to environmental matters) shall maintain, public liability and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenproperty damage.

Appears in 1 contract

Samples: Purchase and Sale Agreement (PB Bankshares, Inc.)

ENTRY AND INSPECTION. (a) Through the earlier of Closing the expiration of the Property Approval Period or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without Seller’s prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller, Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerProperty. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State state in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)

ENTRY AND INSPECTION. (a) Through Subject to the earlier of Closing or the termination provisions of this AgreementSection 5.1 and the obligations set forth in Section 5.3, from and after the Effective Date until 3:00 p.m. Pacific Standard Time on the date that is thirty (30) days after the Effective Date (the “Inspection Period”), Seller will permit Purchaser and its employees and authorized agents, representatives, contractors and consultants shall inspect and investigate (the “Licensee Parties”) to enter upon the Real Property and shall conduct such at all reasonable times during normal business hours to perform any inspections, investigations, studies, tests, evaluations and assessments of the Property (including, but not limited to, physical, structural, mechanical, architectural, engineering, soils, geotechnical, and environmental / asbestos tests (generally, “Inspections”) as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable notify Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other any Licensee Parties Party to enter the Real Property or Improvements at least forty-eight two (482) hours business days prior to such intended entry and specify the intended purpose therefor and the inspections and examinations Inspections contemplated to be mademade and/or the service provider, Authorities, or any other person with whom Purchaser or any Licensee Party contemplates communicating. At the applicable Seller’s option, such Seller or its employees or authorized agents, representatives, contractors or consultants (the “Seller Representatives”) may be present for any such entryentry or Inspection. With respect to any Inspection that will require excavations, inspection and interview borings, drilling, removal or demolition of any portion of the Property, or any other invasive activities on the Property (generally, “Invasive Testing”), Purchaser shall submit to Seller a written plan describing such Invasive Testing in reasonable detail (an “Invasive Testing Plan”) for Seller’s written approval, which approval may not be unreasonably withheld or delayed. Purchaser may not proceed with any Tenants Invasive Testing unless Seller has expressly approved in writing the relevant Invasive Testing Plan, and service providers Purchaser shall conduct all Invasive Testing in compliance with respect to the Property owned Invasive Testing Plan approved by such Seller. Purchaser Seller shall have the right to conduct have a Phase I Environmental Assessment Seller Representative observe any testing activities and to the extent the same is to be completed request and receive split samples of any materials collected for analysis by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowPurchaser or any Licensee Party; provided, however, that no invasive testing or sampling Purchaser’s sole responsibility shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Sellerto notify Seller when Purchaser’s specific prior written consenttesting activities will be taking place, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with solely responsible for causing a written sampling plan in reasonable detail in order Seller Representative to allow be present to observe and/or to request and receive split material samples. Purchaser Party shall repair any damage to the Property caused by any such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted Invasive Testing and restore it to its pre-existing condition as existed immediately before promptly after any such borings Invasive Testing, but in no event later than five (5) days after any disturbance or other disturbances were undertakendamage occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Safeco Corp)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview interviews with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through From and after the earlier of Closing or the termination of this AgreementEffective Date, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”"LICENSEE PARTIES") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 48 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party will communicate. At the applicable Seller’s 's option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s 's sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Behringer Harvard Reit I Inc)

ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property Property, each Group Company and shall conduct their respective properties and assets and conducted such tests, evaluations and assessments of the Property Property, each Group Company and their respective properties and assets as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property Sale Interests and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the Purchaser complying with its obligations set forth in Section 5.3 below5.3, Sellers will permit Purchaser Seller hereby grants to Purchaser, and its authorized agents agents, representatives, contractors and representatives consultants (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, times and upon reasonable prior notice to perform additional inspections of the Property and communicate with Tenants and service providersProperty; provided, however, that Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable promptly advise Seller and the applicable Seller shall have the right to participate in of any communications that it or any Licensee Party has with any current or prospective Tenant or service provider, together with reasonably detailed information regarding such interviewscommunications. Purchaser will shall provide to Sellers written Seller prior notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or and Improvements at least forty-eight (48) hours reasonably prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such one or more representatives of Seller may be present for any such entryentry and inspection; provided that, as long as Purchaser has provided notice of the approximate time of such intended entry and inspection and interview with any Tenants and service providers with respect no less than two Business Days prior to the Property owned by date of such Seller. entry and inspection, Purchaser shall have be permitted to make such entry and inspection notwithstanding the right failure or inability of Seller or its representatives to conduct a Phase I Environmental Assessment attend the same. Notwithstanding anything to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property and Improvements without the applicable Seller’s specific prior written consent, which consent may shall not be unreasonably withheld, delayed or conditioned in such Seller’s sole and absolute discretionconditioned; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or any Licensee Party takes any sample from the other Licensee Parties undertake Real Property and Improvements in connection with any borings or other disturbances testing, then Purchaser shall, upon the request of the soilSeller made prior to such sampling, the soil shall be recompacted provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its condition as existed immediately before any such borings or other disturbances were undertakenown testing.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (New York REIT, Inc.)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser Tenant will permit Landlord and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter into or for the and upon the Real Property and Improvements Premises at all reasonable timestime for the purposes of inspecting the same, during normal business hourspurpose of protecting the interest therein of Landlord, or to post notices of non-responsibility, or to show the Premises to prospective purchasers or mortgagees of the Project or to make alterations or additions to the Premises or to any portion of the Building, including the erection of scaffolding, props or other mechanical devices, or to provide any service provided by Landlord to Tenant hereunder, including window cleaning and janitor service, without any rebate of rent to Tenant for any loss of occupancy or quiet enjoyment of the Premises, or damage, injury or inconvenience thereby occasioned, and Tenant will permit Landlord, at any time within 180 days prior to the expiration of this Lease, to perform inspections bring upon the Premises, for purposes of inspection or display, prospective tenants thereof- Landlord shall at all times have and retain a key with which to unlock all doors in the Property Premises, excluding Tenant's vaults and communicate with Tenants and service providers; providedsafes, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller Landlord shall have the right to participate use any and all means which Landlord may deem proper to open said doors in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail an emergency in order to allow such Seller obtain entry to the Premises. Any entry to the Premises obtained by Landlord by any of said means, or otherwise, shall not be construed or deemed to be a reasonable opportunity to evaluate such proposal. If Purchaser forcible or unlawful entry into the other Licensee Parties undertake Premises, or an eviction of Tenant from the Premises or any borings or other disturbances of the soilportion thereof, the soil and any damages caused on account thereof shall be recompacted paid by Tenant. No provision of this Paragraph shall be construed as obligating Landlord to its condition perform any repairs, alterations or decorations except as existed immediately before any such borings or other disturbances were undertakenotherwise expressly agreed herein by Landlord.

Appears in 1 contract

Samples: Lease (Entertainment Internet Inc)

ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct conducted such tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 13.1 and subject to the obligations set forth in Section 5.3 13.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements Land at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written Seller telephonic notice (by contacting Xxxxx Xxxxxxxxxx at (000) 000-0000) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements Land at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property Land without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Land in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Cb Richard Ellis Realty Trust)

ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementInspection Period, Purchaser and its agents, representatives, contractors and consultants Seller shall inspect and investigate make the Property and shall conduct such testsall documents, evaluations permits, books, and assessments records pertaining to the property in Sellers possession, available for inspection by Purchaser. During the Inspection Period, Purchaser may, at Purchaser’s sole risk and expense, undertake, or cause to be undertaken on behalf of Purchaser, a complete physical inspection, review and examination of the Property as Purchaser deems necessaryappropriate, appropriate or prudent in any respect including but not limited to soil/groundwater tests and for all purposes in connection with Purchaser’s acquisition of the Property environmental assessments and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives audits (collectively, the “Licensee PartiesProperty Inspections) the right to enter upon the Real Property and Improvements at all reasonable times), during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling any Property Inspections do not cause any permanent damage to the Property. All such Property Inspections shall be conducted undertaken at Purchaser’s sole cost and expense. Additionally, during the Inspection Period, the Purchaser shall seek written approval from its intended user and/or franchisor for the Property. Purchaser will coordinate all on-site inspections with Seller and Seller agrees to reasonably cooperate with Purchaser, including without limitation making Seller and any such entry of Seller’s representatives that are familiar with the Property and its present and past uses available for interview by Purchaser or Purchaser’s agent. After completing any Licensee Party inspections, Purchaser shall restore and repair any damage caused by Purchaser’s inspections. The Purchaser shall, upon completion of Purchaser’s Inspection Period, return the Property to its existing condition, restore and repair any damage caused by any Property Inspections, and shall indemnify and hold the Seller harmless from any damages whatsoever that result in any way from the Purchaser’s Property Inspections. Additionally, during the Inspection Period, the Seller and Purchaser shall negotiate a declaration of covenants, conditions, easements and restrictions that shall run with and be binding upon the Real Property and that, in part, shall provide the easements reasonably determined by Purchaser to be necessary for Purchaser’s Intended Use of the Property, including, without limitation, cross parking, ingress and egress, utilities (including an easement to Purchaser for access, parking, utilities and other necessary uses over, under and across the applicable Seller’s specific prior written consentparcel that Seller is retaining for its existing marquee sign at the intersection of Xxxxx Boulevard and Lime Street and the five foot parcel retained just south of the Property) and/or stormwater management (the “Declaration”). The Declaration shall include a provision that Purchaser shall submit all proposed architectural designs and plans to Seller for review and approval, which consent approval may not be unreasonably withheld, delayed conditioned or conditioned in such Seller’s sole and absolute discretion; and provideddelayed, further, that prior to giving the submittal of any such plans to the City of Lakeland or other permitting or review agency (the “Plan Review Requirement”). The parties have agreed that the site and construction plans shall, unless otherwise agreed in writing between the parties, reflect a pedestrian crosswalk constructed of pavers and sidewalk crossing signs and lights at the intersection of Lime Street and West Orange Street (collectively, the “Pedestrian Crossing Improvements”). The Pedestrian Crossing Improvements, including, without limitation, the design, materials and signage, shall be similar to other pedestrian crossing improvements constructed by the City within the City of Lakeland and shall be subject to the City’s written approval, such Seller which approval may not be unreasonably withheld, conditioned or delayed. The Purchaser shall be provided responsible for the costs of the Pedestrian Crossing Improvements not to exceed $75,000.00. The purpose of the Plan Review Requirement is to assure that the orientation and design of the proposed building, site design, and landscape plan are all compatible with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposalthe adjacent City of Lakeland RP Funding Center. If Purchaser or The Declaration shall be signed at Closing and recorded by the Title Company with the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenclosing documents.

Appears in 1 contract

Samples: Purchase and Sale Agreement

ENTRY AND INSPECTION. (a) Through During the earlier Inspection Period, Buyer may inspect the Properties at a time mutually agreed upon by the Parties, at Buyer’s expense, to ensure that (i) the Properties’ Equipment, Personal Property and UST Systems necessary for the operation of Closing the Properties consistent with Seller’s past practices (and which is to be conveyed to Buyer at Closing) are present and in working order and (ii) the structural components of the buildings or other improvements (“Improvements”) located on any Property are in good working condition. Buyer may inspect the termination of this Agreement, Purchaser and its Properties personally or through agents, representativesemployees, contractors and consultants shall inspect and investigate the Property contractors, or subcontractors and shall conduct assume all risks involved in entering the Properties pursuant to this Section 4.5. Seller Representatives may attend all inspections. Buyer shall not engage in conversations with employees working at the Properties except as approved by Seller Representatives. In the event that such testsinspections identify (x) any Equipment, evaluations and assessments Personal Property or UST System at any Property which is not in working order in compliance with any applicable Law or (y) a material defect in any of the structural components of the Improvements located on any Property which defect materially impairs the current use of the Property as Purchaser deems necessaryconsistent with Seller’s current use, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition then the Buyer shall advise Seller thereof by providing a copy of the written results of its inspection. Unless otherwise mutually agreed by Seller and Buyer, the Seller shall thereafter undertake, at its expense, to cause the identified matters to be corrected or repaired in a commercially reasonable manner. Seller and Buyer shall cooperate with each other in the Seller’s performance of any such repairs. In the event such repairs are not completed prior to the Closing, Buyer and the Seller shall mutually agree on a timeframe and funding mechanism pursuant to which such repairs shall be completed post-Closing and, if needed, Buyer shall provide Seller reasonable access subsequent to the Closing. Any amounts expended by Seller to complete such repairs shall not be included in the Cap Ex Credit. Buyer shall restore any damage to the Properties and to the Equipment, Improvements, Personal Property and UST Systems located thereon, caused by Buyer’s entry upon the consummation of Properties pursuant to this Section 4.5(a). Notwithstanding the transaction contemplated by this Agreement. Subject foregoing, or anything contained herein to the provisions of this Section 5.1 contrary, Buyer acknowledges and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable agrees that Seller shall have the right only be required to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser make, or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated cause to be made. At , any repairs to any Equipment, Personal Property, UST System or structure component of any Improvement located at the applicable Seller’s optionProperty commonly known as the Secondi Travel Center, located at 300 Xxx Xxxx Xxxx, Xxxxxxx, Xxxxxxxxxxx, if such Seller may be present for repairs relate to (i) any such entry, inspection and interview non-compliance of any Equipment or UST System with any Tenants and service providers with respect to applicable Law which non-compliance prevents such Equipment or UST System from being used for the Property owned by storage or distribution of motor fuels until such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same non-compliance is to be completed by a reputable, bonded and insured consultant licensed repaired or (ii) any material defect in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, structural components located on such Property which requires the soil shall be recompacted convenience store or truck wash on such Property to its condition as existed immediately before any cease operations until such borings or other disturbances were undertakendefect is repaired.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Global Partners Lp)

ENTRY AND INSPECTION. During the Inspection Period, subject to the rights of tenants, Seller shall make the Property available for inspection by Purchaser, Purchaser’s employees, agents and contractors, during normal business hours and at such other times upon reasonable notice but in no event less than twenty-four (24) hours advance notice. During the Inspection Period, Purchaser may, at Purchaser’s sole risk and expense, undertake a complete physical inspection of the Premises as Purchaser deems appropriate; provided, however, that (a) Through any such inspection does not cause any permanent damage to the earlier Premises and (b) Purchaser shall not conduct or allow any intrusive inspection of the Premises without Seller’s prior written consent, which Seller hereby agrees not to unreasonably withhold, condition or delay. Notwithstanding anything contained in this Section 4.2 to the contrary, Seller hereby consents to any customary Phase I environmental inspection of the Premises. In addition, with the exception of privileged communications and materials, Purchaser shall have the right to review at the Premises any operating files maintained by Seller or its property manager in connection with the leasing, maintenance and/or management of the Premises, that are on the Premises, including, without limitation, rent rolls, financial and operating statements for the last three (3) years, structural engineering studies, environmental studies, those service contracts or agreements pertaining to the use, operation or maintenance of the Property (the “Service Contracts”), plans and specifications, tenant lease files, and other general records relating to the income and expenses of the Premises. During the Inspection Period, Purchaser shall obtain an appraisal of the fair market value of the Property (the “Appraisal”). All such inspections, investigations and examinations shall be undertaken at Purchaser’s sole cost and expense. Prior to conducting any examination of the Premises, Purchaser shall provide Seller with a certificate of insurance confirming that Purchaser maintains a comprehensive general liability policy with coverage in an amount of not less than $1,000,000.00. Purchaser will coordinate all on-site inspections with Seller so that Seller shall have the option of having one of Seller’s representatives present at any and all on-site inspections, provided, however Seller’s representative shall not unreasonably disturb Purchaser’s investigations. Purchaser shall direct all communications to Seller’s designated management representatives and not to Seller’s on-site employees. After completing any inspections, Purchaser shall restore the Property to substantially the condition that existed immediately prior to said inspection and repair any damage caused by Purchaser’s inspections, and Purchaser hereby agrees to indemnify and hold Seller harmless from any and all claims made or causes of action brought against Seller or the Property to the extent resulting from the activities of Purchaser or any of Purchaser’s agents or servants in conducting any of the inspections, investigations or examinations on the Premises; provided, however, Purchaser shall have no liability to Seller under this Section 4.2 for pre-existing conditions upon the Property. Purchaser agrees not to unreasonably disrupt the business operations on the Premises or any of the tenants during the term of this Agreement and Purchaser further agrees not to disclose to any third party any non-public information contained in books of account, customer lists or any other proprietary information provided to Purchaser by Seller, except to Purchaser’s agents, contractors, accountants, attorneys, lender and otherwise as may be necessary or desirable for the purposes of this transaction or as may be otherwise required by law, without the express prior written consent of Seller. Neither Purchaser, nor any employee or agent of Purchaser, shall report any non-public data, results, or work product obtained or produced in connection with Purchaser’s inspection and examination of the Property to a municipal, state, or federal government or agency or any other administrative agency, or any other third party, except as required by Purchaser in order to evaluate the Property or to comply with legal requirements and duties, without the written permission of the Seller. Seller shall reasonably cooperate with Purchaser in its due diligence review and investigation of the Property and shall direct its employees and agents to reasonably cooperate with Purchaser in such review and investigation. Except as otherwise set forth in Article VI, Seller assumes no responsibility for the accuracy or completeness of any statement or other matter contained in any of the documents or records used by Purchaser to assist Purchaser in making its inspections, investigations or tests with respect to the Premises. The terms of this Section 4.2 shall survive the Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenapplicable.

Appears in 1 contract

Samples: Purchase and Sale Agreement (U-Store-It Trust)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller Landlord shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property Leased Premises: (a) in case of emergency; (b) to make necessary or Improvements agreed repairs, decorations, alterations, improvements, supply necessary or agreed services, exhibit the Leased Premises to prospective or actual buyers, mortgages, tenants, workmen, or contractors; (c) for periodic inspections; (d) when Tenant has abandoned or surrendered the Leased Premises.; (e) pursuant to a court order; or (f) under any circumstances permitted by state law. Landlord will serve Tenant with at least fortyTwenty-eight Four (4824) hours prior written notice before entry unless: entry is due to such intended an emergency; entry occurs after Tenant’s surrender or abandonment of the Leased Premises; the purpose of the entry is to exhibit the Leased Premises to prospective or actual purchasers or tenants; Tenant and specify Landlord agree orally to an entry to make agreed repairs or supply agreed services at an approximate day and time within one week of the intended purpose therefor oral agreement; or Tenant is present and consents to entry at the inspections time of entry. Entry can be made only during normal business hours unless Landlord is responding to an emergency, Tenant has surrendered or abandoned the Leased Premises, or Tenant consents to Landlord’s entry outside of normal business hours. Tenant agree that if they deny Landlord access to the Leased Premises when Landlord is in compliance with this Lease and examinations contemplated statutory requirements and entitled to be made. At the applicable Seller’s optionaccess, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling denial of access shall be conducted during deemed and constitute a waiver of any such entry by Purchaser habitability or other claims Tenant may have against Landlord regarding any Licensee Party upon of Landlord’s affirmative duties Landlord’s Initial associated with the Real Property without condition of the applicable SellerLeased Premises due to Tenant’s specific prior written consentinterference with Landlord’s ability to perform said duties, and shall be a material breach of this Lease, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior shall entitle Landlord to giving any such approval, such Seller shall be provided serve Tenant with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakennotice terminating this Lease.

Appears in 1 contract

Samples: Residential Lease Agreement

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall may inspect and investigate the Property and shall may conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without the applicable Seller’s prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and Seller, the applicable Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers written notice (which can be delivered by email) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Individual Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hoursupon twenty- four (24) hours prior notice to Tenant (except in the case of an emergency) and when accompanied by a representative of Tenant (to the extent Tenant makes a representative available), to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through enter the applicable Seller Premises to inspect them, to supply services in accordance with this Lease, to protect the interests of Landlord in the Premises, to make repairs and renovations as reasonably deemed necessary by Landlord, and to submit the applicable Seller Premises to prospective or actual purchasers or encumbrance holders (or, during the final six months of the Term or when an uncured Tenant default exists, to prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. Landlord shall at all times have and retain a key which unlocks all of the doors in the Premises, excluding Tenant’s vaults and safes, and Landlord shall have the right to participate use any and all means which Landlord may deem proper to open the doors in an emergency in order to obtain entry to the Premises, and any entry to the Premises obtained by Landlord shall not under any circumstances be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or any eviction of Tenant from the Premises. Landlord shall use its commercially reasonable efforts to interfere as little as reasonably practicable with the conduct of Tenant’s business in the Premises and to use reasonable efforts to preserve the confidentiality of information held by Tenant in the Premises. Due to the nature of Tenant’s business and the confidentiality of information related thereto, Tenant shall be entitled to have an employee of Tenant accompany the person(s) entering the Premises, provided Tenant makes such interviews. Purchaser will provide to Sellers written notice of employee available at the intention of Purchaser time Landlord or the such other Licensee Parties party desires to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be madePremises. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenSECTION 7.6.

Appears in 1 contract

Samples: BofI Holding, Inc.

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ENTRY AND INSPECTION. (a) Through From and after the Effective Date and through the earlier of Closing the end of the Final Due Diligence Period or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall have the right to conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements Improvements, at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller Owner LLC and the applicable Seller Owner LLC shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s Sellers’ option, such Seller Sellers may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling (including, without limitation, a Phase II environmental assessment) shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s Sellers’ specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s Sellers’ sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller Sellers shall be provided with a written sampling plan in reasonable detail in order to allow such Seller Sellers a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (HGR Liquidating Trust)

ENTRY AND INSPECTION. (a) Through the earlier of the Closing or the termination of this Agreement, subject to the terms of the Tenant Lease and Property Agreements, Purchaser and its authorized agents, representatives, employees, consultants, partners, members and contractors and consultants shall (the “Licensee Parties”) may inspect and investigate the Property and shall the Off-Site Garage (including, without limitation, inspections of all roofs, electrical, mechanical and structural elements, HVAC systems and other building systems located on or within the Improvements and Off-Site Garage) and may conduct such testsnon-invasive tests (including, without limitation, any soil, water and air sampling analysis or other environmental investigations), evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this AgreementProperty. Subject to the provisions of this Section 5.1 5.1, Section 5.2 and subject to the obligations set forth in Section 5.3 below5.3, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the Licensee Parties”) Parties the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property, inspect the books and records of Seller with respect to the Property (and communicate with Tenants to make copies thereof) and service providersinterview the Tenant and the Breaktime Tenant; provided, however, provided Purchaser shall not have the right to interview Tenants communicate with Tenant and the Breaktime Tenant unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsinterviews and communications. Purchaser will provide to Sellers Seller written notice of the (which notice may be e-mail or telephone to Dan Eifexx, xx xxx.eifexx@xxxxx.xxx, xxx (013) 720-0000) xx xxx intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect Tenant. Any soil borings or other invasive tests to the Property owned by such Seller. which Purchaser proposes to perform shall have require the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consentapproval of Seller, which consent approval may be withheld, delayed granted or conditioned withheld in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. Notwithstanding the foregoing, Purchaser may, without Seller’s consent, conduct a Phase I environmental audit of the Property which includes radon and air sampling without further consent or approval from Seller. If Purchaser or the other its Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted re-compacted to its substantially the same condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or its Licensee Parties take any sample from the Property in connection with any testing, Purchaser shall upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing (at Seller’s cost). If the Property or the Off-Site Garage is damaged as a result of Purchaser’s inspections or the actions of any Licensee Parties, Purchaser shall restore the Property or the Off-Site Garage to substantially the same condition as existed immediately prior to such inspections, but in no event later than thirty (30) days after the damage occurs.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this AgreementAgreement or the Closing, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without Seller’s prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller, Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerProperty. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State state in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)

ENTRY AND INSPECTION. (a) Through From the earlier of Closing or the termination of this AgreementEffective Date until Closing, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property Properties and shall conduct such tests, evaluations and assessments of the Property Properties as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property Properties and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the each Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property Properties and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller Sellers and the applicable Seller Sellers shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the each Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s Sellers’ option, such Seller Sellers may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located of California carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or DAL02:624104.4 LEGAL_US_W # 74790953.14 14 sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the each Real Property without the applicable Seller’s Sellers’ specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s Sellers’ sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller Sellers shall be provided with a written sampling plan in reasonable detail in order to allow such Seller Sellers a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hoursupon twenty-four (24) hours prior notice to Tenant (except in the case of an emergency) and when accompanied by a representative of Tenant (to the extent Tenant makes a representative available), to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through enter the applicable Seller Premises to inspect them, to supply services in accordance with this Lease, to protect the interests of Landlord in the Premises, to make repairs and renovations as reasonably deemed necessary by Landlord, and to submit the applicable Seller Premises to prospective or actual purchasers or encumbrance holders (or, during the final six months of the Term or when an uncured Tenant default exists, to prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. Landlord shall at all times have and retain a key which unlocks all of the doors in the Premises, excluding Tenant’s vaults and safes, and Landlord shall have the right to participate use any and all means which Landlord may deem proper to open the doors in an emergency in order to obtain entry to the Premises, and any entry to the Premises obtained by Landlord shall not under any circumstances be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or any eviction of Tenant from the Premises. Landlord shall use its commercially reasonable efforts to interfere as little as reasonably practicable with the conduct of Tenant’s business in the Premises and to use reasonable efforts to preserve the confidentiality of information held by Tenant in the Premises. Due to the nature of Tenant’s business and the confidentiality of information related thereto, Tenant shall be entitled to have an employee of Tenant accompany the person(s) entering the Premises, provided Tenant makes such interviews. Purchaser will provide to Sellers written notice of employee available at the intention of Purchaser time Landlord or the such other Licensee Parties party desires to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenPremises.

Appears in 1 contract

Samples: Office Space Lease (BofI Holding, Inc.)

ENTRY AND INSPECTION. (a) Through At all times prior to the earlier of Closing or the termination of this AgreementDate, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its lender and their authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located of Illinois carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct conducted such tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and Tenants, service providers, any Authorities and any other third parties related to the Service Contracts, and Licenses and Permits; provided, however, other than as expressly set forth in this Section 5.1(a), herein below, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice (the “Entry Notice”) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants, service providers or other party with whom any Licensee Party will communicate; provided, however, in the event that Seller fails to respond to such Entry Notice within the aforementioned 24 hour period, Purchaser shall have the right to enter the Real Property for the purposes set forth in the applicable Interview Notice without any further notice or approval from Seller. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its substantially the same condition as existed was in existence immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the prior written request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Wells Real Estate Investment Trust Ii Inc)

ENTRY AND INSPECTION. (a) Through From the earlier of Closing or the termination of this AgreementEffective Date until Closing, Purchaser and its prospective lenders and their respective agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Real Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to substantially its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)

ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination term of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without Seller’s prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller, Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerProperty. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State state in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)

ENTRY AND INSPECTION. (a) Through the earlier of the Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall to conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right (and Seller shall cooperate with Purchaser in the exercise of such right) to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice or telephonic verbal notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located of Texas carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as nearly as possible as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through Subject to the earlier of Closing or the termination provisions of this AgreementSection 4.2, Seller will permit Purchaser and its employees and authorized agents, representatives, contractors and consultants shall inspect and investigate (the “Licensee Parties”) to enter upon the Real Property and shall conduct such the Improvements at all reasonable times during normal business hours, to perform any inspections, investigations, studies, tests, evaluations and assessments of the Property as (including interviews with Tenants, vendors and service providers under the Service Contracts, physical, structural, mechanical, architectural, engineering, soils, geotechnical, and environmental/asbestos tests (generally, “Inspections”) that Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition determining the feasibility of purchasing the Property and the consummation of the transaction contemplated by this AgreementProperty. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable notify Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other any Licensee Parties Party to enter the Real Property or Improvements at least forty-eight one (481) hours Business Day prior to such intended entry and specify the intended purpose therefor and the inspections and examinations Inspections contemplated to be mademade and/or the Tenants, vendors and service providers under the Service Contracts, or Authorities with whom Purchaser or any Licensee Party contemplates communicating. Notwithstanding the foregoing to the contrary, Purchaser shall be permitted to contact venders and service providers under the Service Contracts and Authorities to confirm the status of title matters, zoning, environmental conditions and compliance with laws and regulations applicable to the Property (such communications referred to herein as “Approved Due Diligence Communications”) without providing prior notice to Seller of such communications. At the applicable Seller’s option, such Seller or its employees or authorized agents, representatives, contractors or consultants may be present for any such entry, inspection Inspections and interview communications with any Tenants and service providers with Tenants. With respect to any Inspection that will require excavations, borings, drilling, removal or demolition of any portion of the Property, or any other invasive activities on the Property owned (generally, “Invasive Testing”), Purchaser shall submit to Seller a written plan describing such Invasive Testing in reasonable detail (an “Invasive Testing Plan”) for Seller’s written approval, which shall not be unreasonably withheld, conditioned or delayed. Purchaser may not proceed with any Invasive Testing unless Seller has expressly approved in writing the Invasive Testing Plan, and Purchaser shall conduct all Invasive Testing in compliance with the Invasive Testing Plan approved by such Seller. If Seller fails to provide Purchaser with written notice of Seller’s disapproval of an Invasive Testing Plan (which written notice shall state in reasonable detail the basis for such disapproval) within three (3) Business Days after delivery of the Invasive Testing Plan to Seller, Seller shall be deemed to have approved the Invasive Testing Plan. Seller shall have the right to conduct have a Phase I Environmental Assessment representative of Seller observe any testing activities and to the extent the same is to be completed by a reputable, bonded request and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during receive split samples of any such entry materials collected for analysis by Purchaser or any Licensee Party upon Party. Purchaser shall restore the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that to substantially its condition immediately prior to giving any Invasive Testing promptly after the Invasive Testing is completed, but not later than five (5) days after any disturbance or damage occurs. Notwithstanding the foregoing, subject to the other terms of this Agreement, Seller hereby agrees that Purchaser shall be permitted to extract roof core samples and to perform invasive asbestos testing at the Property (the “Preapproved Invasive Testing”) so long as (i) a representative of Seller is present during any such approval, Preapproved Invasive Testing and approves the specific means and locations for the testing and (ii) Purchaser restores and repairs any area of such Seller shall be provided with a written sampling plan in reasonable detail in order testing to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or substantially the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its same condition as existed immediately before any such borings or other disturbances were undertakenit was prior to the testing.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (RREEF Property Trust, Inc.)

ENTRY AND INSPECTION. (a) Through the earlier of Closing the end of the Property Approval Period or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property Properties and shall conduct such tests, evaluations and assessments of the Property Properties as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property Common Interest and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property Properties and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)

ENTRY AND INSPECTION. (a) Through During the earlier of Property Approval Period, and thereafter until the Closing or the termination of this AgreementDate, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at any time prior to Closing at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice (which may be by e-mail) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers providers, provided that Purchaser shall not be prohibited from proceeding with respect any entry, inspection or communication if no Seller representative is present so long as Purchaser has given Seller the foregoing notice thereof and opportunity to the Property owned by such Sellerbe present. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)

ENTRY AND INSPECTION. (a) Through From and after the earlier of Closing or Effective Date until the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments expiration of the Property as Purchaser deems necessaryDue Diligence Period, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents agents, consultants, representatives, and representatives lenders (collectively, the “Licensee Parties”"LICENSEE PARTIES") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform inspections of the Property Property, including a Phase I evaluation, and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsTenant. Purchaser will provide to Sellers written Seller notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or and/or Improvements at least forty-eight (48) 48 hours prior to such intended entry to conduct the Phase I and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may not be unreasonably withheld, delayed or conditioned conditioned. Solely as an accommodation to Purchaser in such Seller’s sole connection with Purchaser's contemplated ownership the Property and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances operation of the soilProperty following the Closing and provided Purchaser has not exercised its right to terminate this Agreement pursuant to Section 5.4, Purchaser shall have the soil right, after the expiration of the Due Diligence Period, to continue to conduct examinations, inspections, tests, studies and investigations regarding the Property provided that Purchaser complies with the provisions of this Agreement and provided further that such continuing inspection right shall be recompacted not give, and Purchaser acknowledges that Purchaser shall not have any right to its condition as existed immediately before terminate this Agreement on account of the results of any such borings examinations, inspections, tests, studies, or other disturbances were undertakeninvestigations regarding the Property or on account of the failure to obtain financing for the consummation of the transactions contemplated by this Agreement after the expiration of the Due Diligence Period.

Appears in 1 contract

Samples: Sale and Purchase (Imclone Systems Inc/De)

ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview interviews with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan -13- in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Preferred Apartment Communities Inc)

ENTRY AND INSPECTION. (a) Through From and after the earlier of Closing or Effective Date, but subject to the termination terms and provisions of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsProperty. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect entry or inspection. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing testing, boring or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such . Seller shall be provided have the right to require Purchaser to provide Seller with a written sampling testing plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Allegiant Travel CO)

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