Inspection Completion Date definition
Examples of Inspection Completion Date in a sentence
If Buyer elects to inspect the Aircraft, Buyer (or its representative(s)) shall perform a general visual inspection of the Aircraft in the presence of the Seller (or its representative(s)) as soon as reasonably practicable after the execution of this Agreement and in any event on or before the Inspection Completion Date.
On or before March 16, 1998 (the "Inspection Completion Date"), Buyer shall have (i) caused the preparation of, obtained and reviewed all such follow-up structural and mechanical engineering and environmental reports for each Property as Buyer considers reasonably necessary, and (ii) completed its review of all license transfer and other regulatory compliance matters for each Property.
Buyer acting by representatives of ▇▇▇▇▇'s choice shall complete the inspections, tests, assessments and title search of the Property as designated in Paragraph 9 prior to the "Inspection Completion Date" or the "Title Search Completion Date", as the case may be.
On or before the Inspection Completion Date, Buyer shall notify Seller in writing of those Contracts listed on Exhibit C that Buyer does not wish to assume at Closing.
Buyer's failure to provide such notice on or before the Inspection Completion Date shall constitute Buyer's approval of all such matters and of the condition of each Property.
In the event any of the conditions set forth in Sections 4.4 and 4.5 have not been completed on or before the Inspection Completion Date, then Purchaser shall have the right, in lieu of termination, by notice in writing given at any time prior to the expiration of the Inspection Completion Date, to extend the Inspection Completion Date for a period of fifteen (15) days.
In the event that such written notice is given by the Purchaser prior to 5:00 p.m. on the Inspection Completion Date, then, in that event, this Agreement shall terminate, and neither party shall have any further rights or obligations each to the other under this Agreement.
Purchaser acknowledges that an initial inspection of each Aircraft was completed on Purchaser’s behalf on the Inspection Completion Date, in accordance with the inspection requirements applicable to each Aircraft as set forth in EXHIBIT E of this Agreement, (collectively, the “Initial Inspection”), and that as of the Inspection Completion Date Purchaser was satisfied with the condition of the Aircraft and the Aircraft Documents.
In the event Buyer does not object to matters set forth in the Commitment or Survey prior to the Inspection Completion Date, then all such matters shown in the Commitment or matters of Survey shall be Permitted Exceptions.
If, based upon such inspections, tests, assessments and title search, ▇▇▇▇▇ is not reasonably satisfied with the title or physical condition of the Property and so notifies the Seller or the Seller's Attorney in writing, by certified mail, facsimile or hand delivery, not later than two business days after the "Inspection Completion Date," or the "Title Search Completion Date," as the case may be, this Contract shall be deemed terminated by such Notice and the Deposit shall be returned to the Buyer.