Physical Conditions Reports definition

Physical Conditions Reports means the structural engineering reports with respect to the Individual Properties (i) prepared by an Independent Architect, (ii) addressed to Lender, (iii) prepared based on a scope of work determined by Lender in Lender’s reasonable discretion, and (iv) in form and content acceptable to Lender, in Lender’s reasonable discretion, together with any amendments or supplements thereto. The Physical Conditions Reports may consist of updates to the existing structural engineering reports, provided that (A) such updated reports are in form and content acceptable to Lender in Lender’s reasonable discretion and (B) the Independent Architect preparing such updated reports shall provide to Lender a reliance letter satisfactory to Lender.

Physical Conditions Reports means, collectively, (i) that certain Property Condition Report with respect to the Hawaii Property, prepared by Partner Engineering and Science, Inc. (Partner Project Number 18‑224361.1) and dated as of September 6, 2018, (ii) that certain Property Condition Report with respect to the Washington Street Property, prepared by AEI Consultants (AEI Project Number 393137) and dated as of August 23, 2018, and (iii) that certain Property Condition Report with respect to the Raider Park Property, prepared by Partner Engineering and Science, Inc. (Partner Project Number 18‑224466.1) and dated as of September 7, 2018.

Physical Conditions Reports means a structural engineering report prepared by a company satisfactory to Administrative Agent regarding the physical condition of the Properties, satisfactory in form and substance to Administrative Agent in its sole discretion.

Examples of Physical Conditions Reports in a sentence

• Lender shall have received Physical Conditions Reports with respect to the Property, which reports shall be reasonably satisfactory in form and substance to Lender.

• Lender shall have received Physical Conditions Reports with respect to each Individual Property, which reports shall be reasonably satisfactory in form and substance to Lender.

• Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees or taxes, costs of environmental reports, Physical Conditions Reports, appraisals and other reports, the fees and costs of Lender's counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

• Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees, costs of environmental reports, Physical Conditions Reports, appraisals and other reports, the fees and costs of Lender's counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

• Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees or taxes, costs of environmental reports, Physical Conditions Reports, appraisals and other reports, the fees and costs of Lender’s counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

• Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees, costs of Environmental Reports, Physical Conditions Reports, appraisals and other reports, the reasonable fees and costs of Lender’s counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

• Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees, costs of environmental reports, Physical Conditions Reports, appraisals and other reports, the fees and costs of Lender’s counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

• Borrower shall have paid or reimbursed Lender for all title insurance premiums, recording and filing fees, costs of Environmental Reports, Physical Conditions Reports, appraisals and other reports, the reasonable fees and costs of Lender's counsel and all other third party out-of-pocket expenses incurred in connection with the origination of the Loan.

• Lender shall have received a Physical Conditions Reports, which report shall be reasonably satisfactory in form and substance to Lender.

• Borrowers shall promptly and diligently perform the repairs and other work at the Properties recommended or required in the Physical Conditions Reports (such repairs and other work hereinafter collectively referred to as “Required Repairs”) and shall expend such funds as may be necessary to perform the Required Repairs, provided that on the Closing Date, no funds shall be escrowed or deposited with Lender for this purpose.

More Definitions of Physical Conditions Reports

Physical Conditions Reports means, collectively, (i) that certain Avis Budget LaGuardia (00-00 00xx Xxxxxx) Property Condition Report, prepared by CBRE, Inc. and dated as of February 20, 2024, (ii) that certain 000 Xxxxxxx Xxxxxx Property Condition Report, prepared by CBRE, Inc. and dated as of February 20, 2024 and (iii) that certain 0000 Xxxxxxxx Xxxxxx Property Condition Report, prepared by CBRE, Inc. and dated as of February 20, 2024.