Common use of Immediate Work Clause in Contracts

Immediate Work. If and to the extent that any property condition report and/or environmental assessment report (as described in Section A as part of the Third Party Reports), a copy of which shall be provided to Hersha Owner promptly upon Owner JV’s receipt thereof but in no event later than Ten (10) Business Days prior to the scheduled Closing Date, identify, and/or any lender providing the Senior Financing requires, any capital repairs and/or environmental remediation work that must be performed within twelve (12) months of the Closing Date (collectively, the “Immediate Work”), and provided that Closing has occurred, the following provisions shall apply:

Immediate Work. If and to the extent that any property condition report and/or environmental assessment report (as described in Section A as part of the Third Party Reports), a copy of which shall be provided to Hersha Owner promptly upon Owner JV’s receipt thereof but in no event later than Ten (10) Business Days prior to the scheduled Closing Date, identify, and/or any lender providing the Senior Financing requires, any capital repairs and/or 18 environmental remediation work that must be performed within twelve (12) months of the Closing Date (collectively, the “Immediate Work”), and provided that Closing has occurred, the following provisions shall apply: