Inspection Issue definition

Inspection Issue means the discovery that a material portion of the Portfolio Railcars inspected are not being used or maintained in a manner that complies with the requirements of this Master Indenture. Without prejudice to the right to conduct Inspections, all parties granted inspection rights hereunder shall confer with a view toward coordinating their conduct with respect to the Inspections in order to minimize the costs thereof and business disruption attendant thereto.
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Inspection Issue means (x) any material misstatement or omission of fact in or with respect to the Units, the Pledged Units, the Related Documents or the Company Inspections or (y) a determination, in its reasonable business judgment, by Lessor, the Control Party or the Owner Participant, as applicable, that the Related Documents or Books and Records are incomplete or inaccurate in any material respect. Without prejudice to the right to conduct Inspections, Lessor, the Control Party and the Owner Participant shall confer with a view toward coordinating their conduct with respect to the Inspections in order to minimize the costs thereof and business disruption attendant thereto. Notwithstanding any of the foregoing, during the occurrence and continuance of a Lease Event of Default, (i) there shall be no limit on the type and number of Inspections that can be undertaken by Lessor, the Control Party or the Owner Participant, as applicable, and their respective Inspection Representatives and (ii) all costs and expenses of any Inspection shall be at the sole cost and expense of the Lessee (including the reasonable legal and accounting fees, costs and expenses incurred by the Control Party and the Owner Participant, together with their respective Inspection Representatives).
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Inspection Issue means a physical condition discovered by Purchaser’s investigation during the Inspection Period that materially affects the value of the Real Property or the use of the Real Property as a Banking Center, including, without limitation, compliance of the Real Property with the provisions of the Americans with Disabilities Act. As used herein, the term “Environmental Issue” shall mean a physical condition discovered by Purchaser’s investigation during the Inspection Period that constitutes a material violation of applicable environmental law that materially affects the value of the Real Property or the use of the Real Property as a Banking Center, or any material condition at or under the Real Property that would reasonably be expected to give rise to a material liability under applicable environmental law including, without limitation, clean-up and remediation obligations. All physical and environmental investigations of the Property shall be conducted during regular business hours by qualified inspectors, consultants or employees of Purchaser or its affiliates following not less than two business days notice to Seller. Prior to entry upon the Property, Purchaser shall confirm to Seller the existence of general liability insurance in coverage amounts reasonably acceptable to Seller. No physical disturbance of the Property, ground water monitoring, installation of any test well or other investigation that requires a permit or license from, or the reporting of the investigation or the results thereof to, a local or state environmental regulatory authority or the United States Environmental Protection Agency shall occur without the prior written consent of Seller. Purchaser covenants to repair any portion of the Property disturbed in the course of its physical and environmental investigations to its condition immediately prior to that disturbance. Purchaser shall report to Seller the results of investigations made during the Inspection Period, together with its objections to any Environmental Issue or Inspection Issue, if any, no later than the expiration of the Due Diligence Period;. If Purchaser's Phase I environmental site assessment, if any, recommends that groundwater be sampled, test xxxxx be installed or that any other investigation that requires a permit license or report be undertaken and Seller does not consent to allow the recommended work to be conducted at Purchaser’s sole liability and expense within ten (10) days after written request therefor, P...
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Examples of Inspection Issue in a sentence

  • Purchaser shall report to Seller the results of investigations made during the Inspection Period, together with its objections to any Environmental Issue or Inspection Issue, if any, no later than the expiration of the Due Diligence Period;.

  • For the period commencing on the date of this Agreement and extending through the forty-fifth (45th) day after the date of this Agreement (the “Inspection Period”), Purchaser shall have the right, subject to the provisions of this Section 1.10(b), to conduct such investigations of the Real Property as it may reasonably require in order to identify any Environmental Issue or Inspection Issue, as herein defined.

  • Purchaser shall be deemed to have waived its right to object to any Environmental Issue or Inspection Issue not specifically identified and objected-to in writing to Seller prior to the expiration of the Inspection Period, time being of the essence.

  • If Purchaser raises any Title Defects, Environmental Issue or Inspection Issue in accordance with subsection (a) or (b) of this Section 1.10 that would, in aggregate, require the expenditure of over $5,000 to correct, as determined by Purchaser in its reasonable discretion (the “Defects”), Seller shall have the obligation to pay up to the sum of $15,000 to cure such Defects prior to the Effective Time, if practicable, or as soon thereafter as can reasonably be accomplished.


More Definitions of Inspection Issue

Inspection Issue means the discovery that a material portion of the Railcars inspected are not being used or maintained in a manner that complies with the requirements of this Indenture. Without prejudice to the right to conduct Inspections, all parties granted inspection rights under this Indenture shall confer with a view toward coordinating their conduct with respect to the Inspections in order to minimize the costs thereof and business disruption attendant thereto.
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Inspection Issue has the meaning given to such term in Section 5.04(u)(iii) of this Indenture.
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Related to Inspection Issue

  • Inspection means activities such as measuring, examining, testing, gauging one or more characteristics of the product or service and comparing the same with the specified requirement to determine conformity.

  • Inspection Report means the report delivered by the Master Servicer or the Special Servicer, as the case may be, substantially in the form of Exhibit L hereto.

  • Inspections has the meaning set forth in Section 4.1.2.

  • Final Inspection means the process and procedure described in UGC Section 12.1.

  • Examination means an inquiry into a specific element of or process related to bills for services performed under this Agreement. Either party (the “Requesting Party”) may perform one (1) Audit per twelve (12) month period commencing with the Effective Date, with the assistance of the other Party, which will not be unreasonably withheld. The Audit period will include no more than the preceding twelve (12) month period as of the date of the Audit request. The Requesting Party may perform Examinations, as it deems necessary, with the assistance of the other Party, which will not be unreasonably withheld.

  • Inspection Period means the period beginning on the Effective Date and expiring at 5:00 p.m. eastern time on the forty-fifth day after the Effective Date.

  • Geotechnical report means a scientific study or evaluation conducted by a qualified expert that includes a description of the ground and surface hydrology and geology, the affected land form and its susceptibility to mass wasting, erosion, and other geologic hazards or processes, conclusions and recommendations regarding the effect of the proposed development on geologic conditions, the adequacy of the site to be developed, the impacts of the proposed development, alternative approaches to the proposed development, and measures to mitigate potential site-specific and cumulative geological and hydrological impacts of the proposed development, including the potential adverse impacts to adjacent and down-current properties. Geotechnical reports shall conform to accepted technical standards and must be prepared by qualified professional engineers or geologists who have professional expertise about the regional and local shoreline geology and processes.

  • Due Diligence Examination shall have the meaning set forth in Section 3.2.

  • Initial inspection means the first on-site inspection of facilities to verify declarations submitted pursuant to Articles III, IV, V and VI and this Annex.

  • Inspect means the ability to review and copy a CIF to the same extent as any other document contained in a court file.

  • Physical examination means the assessment of an individual’s health by a professional licensed to practice medicine or osteopathy, or by an advanced practice nurse or physician assistant.

  • Due Diligence Review means the performance by Buyer of any or all of the reviews permitted under Section 44 hereof with respect to any or all of the Loans or Seller or related parties, as desired by Buyer from time to time.

  • Environmental Review means the Federal

  • Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.

  • Inspection Fee means a fee payable to Lender or Loan Servicer for performing any inspection required by this Agreement in an amount not to exceed $500.00 per inspection.

  • Onsite means within the Prescribed Premises boundary.

  • Surveys has the meaning set forth in Section 4(o) above.

  • Audits means the audits and reviews carried out by the Bank or the Bank’s auditors, experts and insurers, as the case may be in accordance with the terms and conditions set out in Section 18.

  • Due Diligence Request means the due diligence request letter from Xxxxxxx and Xxxxxx LLP, counsel to the Purchaser, dated March 6, 2024.

  • Survey means a survey of the Property prepared by a surveyor licensed in the State and satisfactory to Lender and the company or companies issuing the Title Insurance Policy, and containing a certification of such surveyor satisfactory to Lender.