Existing Building definition
Examples of Existing Building in a sentence
The Existing Building and all other improvements on the Owned Real Property are in good operating condition and repair, ordinary wear and tear excepted, and there has been no unrepaired damage thereto by fire or other casualty.
Within sixty (60) days after the Closing Date, Buyer shall obtain, at Buyer’s sole cost and expense, a Phase I environmental site assessment of the Owned Real Property, prepared in accordance with ASTM E1527-21 by a reputable environmental consulting firm selected by Buyer, and Seller shall, and shall cause its Affiliates to, reasonably cooperate with Buyer and such firm in connection therewith (including by providing access to records, personnel and the Existing Building).
If such Phase I environmental site assessment recommends a Phase II environmental site assessment, Buyer shall obtain, at Buyer’s sole cost and expense, and Seller shall, and shall cause its Affiliates to, reasonably cooperate with Buyer and such firm in connection therewith (including, but not limited to, by providing access to records, personnel and the Existing Building).
Schedule 3.18 sets forth a true and complete list of all insurance policies maintained by or for the benefit of the Company or covering the Business, the Owned Real Property, the Existing Building or the Required Assets, including policy types, insurers, policy numbers, coverage limits and expiration dates.
The current and contemplated use and occupancy of the Owned Real Property (including the operation of the Existing Building and the development of AI-compute infrastructure) comply, and following the Closing will comply, in all material respects with all applicable zoning, land-use, building and similar Laws and with all recorded covenants, easements and restrictions.