Common use of The Study Period Clause in Contracts

The Study Period. Buyer shall have until 11:59 p.m. MST on the later of (i) the thirtieth (30th) day after Buyer receives written notice from Seller that the Improvements at the Property are substantially complete (including, without limitation, the completion of any paving improvements and striping); or (ii) March 1, 2012 (the “Study Period”), at Buyer’s sole cost, within which to conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the Property, including, without limitation, Buyer’s right to: (i) review and approve the Survey, the Lease, Seller’s operating statements with respect to the Property, and the Contracts; (ii) meet and confer with Tenant; and, (iii) obtain, review and approve an environmental study of the Real Property and Building (collectively, “Buyer’s Diligence”). Buyer agrees that Buyer shall not contact Tenant directly, but shall coordinate all desired discussions with Tenant through Seller, Seller agreeing to use diligent good faith efforts to arrange any such discussions. Buyer shall not perform any borings or other invasive tests upon the Property without the prior consent of Seller, which shall not be unreasonably withheld, conditioned or delayed. In addition to the cancellation provisions of Section 7(c) below, Buyer shall have the right to terminate this Agreement in the event Seller has not provided written notice to Buyer that the Improvements are substantially complete prior to April 15, 2012, whereupon the Xxxxxxx Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement.

The Study Period. Buyer shall have until 11:59 p.m. MST on the later of (i) the thirtieth (30th) day after Buyer receives written notice from Seller that after: (i) the Improvements at the Property are substantially complete (includingEffective Date, without limitation, the completion of any paving improvements and striping); or (ii) March 1, 2012 Buyer’s receipt of all deliveries of Seller’s Diligence Materials (as hereinafter defined) (the “Study Period”), at Buyer’s sole cost, within which to conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the Property, including, without limitation, Buyer’s right to: (i) review and approve the Survey, the Lease, Seller’s operating statements with respect to the Property, Property and the Contracts; (ii) meet and confer with TenantTenant after prior written notice to Seller and after affording Seller the right to have a representative present, it being the intent that the actual presence of a representative of Seller shall not be a condition to such meeting; and, (iii) obtain, review and approve an environmental study of the Real Property and Building (collectivelyhowever, Seller shall have the right to reasonably approve any invasive testing in advance). Buyer shall notify Seller during the Study Period which of the Contracts that Seller shall terminate as of the Closing Date, whereupon the remaining Contracts shall be assumed by Buyer as herein provided. The investigations, studies or tests conducted by Buyer pursuant to Section 7(a) are hereinafter referred to as “Buyer’s Diligence”). Buyer agrees that Buyer shall not contact Tenant directly, but shall coordinate all desired discussions with Tenant through Seller, Seller agreeing to use diligent good faith efforts to arrange any such discussions. Buyer shall not perform any borings or other invasive tests upon the Property without the prior consent of Seller, which shall not be unreasonably withheld, conditioned or delayed. In addition to the cancellation provisions of Section 7(c) below, Buyer shall have the right to terminate this Agreement in the event Seller has not provided written notice to Buyer that the Improvements are substantially complete prior to April 15, 2012, whereupon the Xxxxxxx Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement.

The Study Period. Buyer shall have until 11:59 5:00 p.m. MST Central Standard Time on the later of (i) the thirtieth (30th) day after Buyer receives written notice from Seller that the Improvements at the Property are substantially complete (includingEffective Date, without limitation, the completion of any paving improvements and striping); or (ii) March 1the thirtieth (30th) day after Buyer’s receipt of all deliveries of Seller’s Diligence Materials (as hereinafter defined) as evidenced by Seller’s written notice of delivery of the Seller’s Diligence Materials from Seller to Buyer, 2012 or (iii) the tenth (10th) day after Buyer’s receipt of the Survey (as hereinafter defined), which Survey Buyer shall order not later than three (3) business days after the Effective Date (the period commencing with the Effective Date and ending with the later of (i), (ii) and (iii) above, the “Study Period”), at Buyer’s sole cost, within which to conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the Property, including, without limitation, Buyer’s right to: (i) review and approve the Survey, the Lease, Seller’s operating statements with respect to the Property, and the Contracts; (ii) meet and confer with TenantTenant with respect to its current and prospective occupancy of the Improvements as long as Buyer coordinates such interviews with Seller at least two (2) business days prior to the date of such interviews and gives Seller an opportunity to have a representative of Seller in attendance throughout such interview; and, and (iii) obtain, review and approve an a Phase I environmental study of the Real Property and Building (collectively, “Buyer’s Diligence”). Buyer agrees that Buyer shall provide not contact Tenant directly, but shall coordinate all desired discussions with Tenant through Seller, Seller agreeing to use diligent good faith efforts to arrange any such discussions. Buyer shall not perform any borings or other invasive tests upon the Property without the less than two (2) business days’ prior consent of Seller, which shall not be unreasonably withheld, conditioned or delayed. In addition to the cancellation provisions of Section 7(c) below, Buyer shall have the right to terminate this Agreement in the event Seller has not provided written notice to Buyer that Seller before conducting any investigations, study, interview or test to or at the Improvements are substantially complete prior to April 15, 2012, whereupon Real Property and the Xxxxxxx Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this AgreementImprovements.

The Study Period. As to any particular Property, Buyer shall have until 11:59 5:00 p.m. MST on the later of (i) the thirtieth (30th) day after Buyer receives written notice from Seller that the Improvements at the Property are substantially complete (including, without limitation, the completion of any paving improvements and striping); or (ii) March 1, 2012 Effective Date (the “Study Period”), at Buyer’s sole cost, within which to conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the each Property, including, without limitation, Buyer’s right to: (i) review and approve the each Survey, the each Lease, Seller’s operating statements with respect to the each Property, ; and the Contracts; (ii) meet and confer with Tenant; and, (iii) obtain, review and approve an environmental study of the Real each Property and Building (collectively, “Buyer’s Diligence”). In the event that the results of the inspections, investigations, reviews and feasibility studies to which reference is made in Paragraphs 6, 7, 8 and 9 hereof, in Buyer’s sole opinion and within Buyer’s sole discretion, unacceptable to Buyer agrees that for any reason whatsoever, and Buyer so notifies Seller of the fact on or before the expiration of the Study Period provided in this Paragraph, then, at Buyer’s option and upon Buyer’s request, the Xxxxxxx Money deposited by Buyer with Escrow Agent hereunder, together with all interest earned thereon, shall not contact Tenant directlybe returned to Buyer and, but shall coordinate all desired discussions with Tenant through Seller, Seller agreeing to use diligent good faith efforts to arrange any such discussions. Buyer shall not perform any borings or other invasive tests upon the Property without the prior consent of Seller, which shall not be unreasonably withheld, conditioned or delayed. In addition to the cancellation provisions of Section 7(c) below, Buyer shall have the right to terminate this Agreement shall thereupon be terminated, null and void, and be of no further force and effect and all parties hereto shall thereupon be relieved and absolved of any further liabilities or obligations whatsoever to each other hereunder, except with respect to those liabilities or obligations hereunder which are expressly stated to survive the termination of this Agreement. If Buyer fails to notify Seller in writing on or prior to expiration of the event Seller has not provided written notice Study Period that each Property is suitable to Buyer and that the Improvements are substantially complete prior to April 15contingencies set forth in this Section 7 have been waived, 2012then this Agreement shall automatically terminate and be rendered of no further force or effect, whereupon the Xxxxxxx Money Deposit and all interest earned thereon shall be paid immediately by Escrow Agent returned to Buyer and, except as otherwise provided in this Agreement, neither of and the Parties parties hereto shall have any no further liability obligations to one another except under the indemnities which expressly survive XXX or obligation under the earlier termination of this Agreement.