Inspections Contingencies Sample Clauses

Inspections Contingencies. Buyer may enter into any part of the Property at all reasonable times prior to the closing in order to inspect the Property, conduct surveys, test borings, engineering and environmental studies, and to do such other things as are reasonably necessary with respect to the acquisition and development of the Property (collectively, the “Inspections”). In the event that any of the Inspections reveals defects or cond itions that are unaccepta ble to Buyer, as determined by Buyer in its sole and absolute discretion, Buyer shall have the option of terminating this Agreement and receiving back the Deposit Seller shall have no obligation to close on this transaction until Seller has received all City of Portland approvals for and building permit to construct a 28,000 square foot commercial building on ▇▇▇▇▇▇ Avenue, Portland, Maine which is adjacent to this Property. Seller has received to date site plan approval from the City of Portland Planning Board (Portland Planning Board Project ID 2014-016) for said project. In the event that Seller has not received said approvals and building permit prior to the Closing Date and elects not to close, Buyer shall be entitled to the return of its deposit and reimbursement of its costs and expenses as set forth in section 10(a) below.