Inspection and Feasibility Sample Clauses
The Inspection and Feasibility clause grants a party, typically the buyer, the right to inspect the property and conduct tests or studies to determine if it meets their requirements. This may include physical inspections, environmental assessments, or reviewing permits and zoning regulations. By providing a defined period for these evaluations, the clause ensures that the buyer can identify any issues or obstacles before finalizing the transaction, thereby reducing the risk of unforeseen problems and allowing for informed decision-making.
Inspection and Feasibility. Buyer shall have from the date of this Agreement until close of business on June 6, 1997 (the "Inspection Period") in which to conduct inspections and feasibility studies of the Property which may include, but not be limited to, surveyors, soils inspections, environmental site assessment, engineering, and any other physical and environmental tests and inspections which Buyer may elect to undertake, all at Buyer's sole cost. Buyer shall provide Seller with a plan outlining the particulars of its proposed inspection of the Property ("Work Plan"). Buyer shall not proceed with implementing the Work Plan without first obtaining Seller's written approval, which shall not be unreasonably withheld. If within the Inspection Period, Buyer for any reason determines that the Property is not appropriate for its purposes, Buyer shall notify Seller in writing, and escrow shall be terminated in accordance with subparagraph 5.7 hereof. Failure of written notice of rejection of the Property by Buyer within the Inspection Period shall be deemed acceptance by Buyer. For said Inspection Period, Seller grants Buyer and/or Buyer's nominees or consultants, engineers, and other agents and contractors the right to enter upon the Property during reasonable business hours for the purpose of conducting such examinations and tests as approved in the Work Plan. Buyer shall keep the Property free and clear of any mechanic's liens arising out of Buyer's entry on the Property. Buyer represents and warrants that Buyer carries not less than $1,000,000 commercial general liability insurance with contractual liability endorsement to cover this Agreement which will also cover any person accessing the Property for Buyer's inspection and feasibility hereunder. Buyer shall deliver evidence of such insurance coverage to Seller before any such access. Seller shall cooperate with Buyer in facilitating Buyer's investigation at no cost to Seller, including obtaining information from and approvals for testing from governmental authorities. Buyer shall indemnify Seller and hold Seller harmless from the negligence or willful misconduct of Buyer or Buyer's agents on the Property or any damage, loss, claim, lien cost or expense including attorneys' fees and costs arising from the exercise by Buyer or its employees, consultants, agents, or representatives of access to the Property for inspection and feasibility under this Agreement. Any inspection, test or other study or analysis of the Property under this p...
Inspection and Feasibility. Buyer shall have until thirty (30) calendar days from the Effective Date (hereinafter referred to as the “Inspection Period”) to determine, at Buyer’s sole expense and in Buyer’s sole and absolute discretion, whether the Property is suitable for Buyer’s intended use of the Property. Buyer, its employees, agents or independent contractors shall be permitted to come onto the Property, upon reasonable prior verbal notice, during the Inspection Period in order to examine the Property and perform their own investigations, engineering, surveying work, soil tests, percolation, permeability tests and feasibility studies thereon; all as may be necessary or desirable in the sole opinion of the Buyer in order for Buyer to evaluate the physical and economic characteristics of the Property, as well as other matters as may be deemed by the Buyer to be reasonably necessary in order for Buyer to generally evaluate the Property and determine the feasibility and advisability of Buyer’s purchasing of the same for the purposes and uses contemplated by the Buyer, including, without limitation, independent investigations and inquiries concerning the association governing the use and occupancy of the Property and pending assessments charged or to be charged by the association, all applicable zoning, environmental and other codes, ordinances, statutes, rules and regulations affecting the Property and its use as well as the availability of access and utility services thereto, the possibilities and conditions upon which the Property can be developed and used within the City of Weston, Broward County, Florida, flood plan analysis, suitability of access and financial feasibilities concerning the Property and all standards, guide lines, conditions, and criteria that such a development and/or use may require under all laws and ordinances applicable thereto including in said analysis any and all documentation that may be furnished Buyer pursuant to Articles 5, 7, 8 and 9 above. Buyer, as a condition to its exercise of such right of entry and inspection, specifically agrees to defend, indemnify, save and hold Seller harmless from and against any loss, damage, liens, liability, suit, claim, cost or expense (including reasonable attorneys’ fees) arising from the exercise by the Buyer or its employees, agents, engineers, surveyors, architects, or consultants of such right of entry. In the event that the results of such inspections, investigations, and inquiries are, in Buyer’s sole opinion ...
Inspection and Feasibility. Buyer represents, warrants and acknowledges that prior to the date of execution of this Agreement, Buyer conducted all inspections and investigations with respect to the Property that Buyer deemed necessary and that Buyer waives, denies, and disclaims any inspection or feasibility contingency with respect to the Property.
Inspection and Feasibility