Physical State Sample Clauses
The 'Physical state' clause defines the required condition or quality of goods or property at the time of delivery or transfer. Typically, this clause specifies standards such as cleanliness, operational status, or absence of damage, and may require inspection or certification to confirm compliance. Its core function is to ensure that the receiving party obtains the goods or property in an agreed-upon, satisfactory condition, thereby reducing disputes and clarifying expectations regarding the state of the item at handover.
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Physical State. 3.2.1 The buyer accepts the property in the physical state it is in at the date of the contract unless the seller is building or converting it.
3.2.2 A leasehold property is sold subject to any subsisting breach of a condition or tenant's obligation relating to the physical state of the property which renders the lease liable to forfeiture.
3.2.3 A sub-lease is granted subject to any subsisting breach of a condition or tenant's obligation relating to the physical state of the property which renders the seller's own lease liable to forfeiture.
Physical State. Buyer accepts the Property in the physical state it is in at the date the Agreement is executed unless Seller is building or converting it.