PZR definition
Examples of PZR in a sentence
Except as expressly disclosed in the Engineering Reports, the Environmental Reports, the PZR zoning reports or the Surveys delivered to Lender by Borrower, each applicable Borrower, Operating Lessee, each Individual Property and each applicable Borrower’s or Operating Lessee’s use thereof as a hotel and operations thereat comply in all material respects with all applicable Legal Requirements and all Insurance Requirements.
Such evidence regarding zoning and land use compliance as the Agent may require and approve in its reasonable discretion, including, without limitation, a PZR Zoning report.
Except as described in the PZR Report, in the event that all or any part of the Improvements are destroyed or damaged, said Improvements can be legally reconstructed to their condition prior to such damage or destruction, and thereafter exist for the same use without violating any zoning or other ordinances applicable thereto and without the necessity of obtaining any variances or special permits.
Except as disclosed in any physical condition reports, PZR reports, Urban Concepts reports, environmental reports or Surveys received by Lender, Borrower and the Properties (and the use thereof) comply in all material respects with all applicable Legal Requirements, including, without limitation, building and zoning ordinances and codes.
Except as expressly disclosed in the Engineering Reports, the Environmental Reports, the PZR zoning reports or the Surveys delivered to Lender by Borrower, each applicable Borrower, Operating Lessee, each Individual Property and each applicable Borrower's or Operating Lessee's use thereof as a hotel and operations thereat comply in all material respects with all applicable Legal Requirements and all Insurance Requirements.
Except as described in the PZR Report or the Property Condition Report, Borrower and the Property (including, but not limited to the Improvements) and the use thereof comply in all respects with all applicable Legal Requirements, including parking, building and zoning and land use laws, ordinances, regulations and codes the noncompliance of which would reasonably be expected to result in, or does result in, a Material Adverse Effect.
For the sake of clarity, Buyer shall not be required to contact Seller before its research of public records or databases or any communications with respect to any PZR, zoning or similar report, or any communication with any governmental authority regarding compliance with Applicable Law.
Except as expressly disclosed in the Engineering Reports, the Environmental Reports, the PZR zoning reports or the Surveys delivered to Lender by Borrower, each applicable Borrower, each Individual Property and each applicable Borrower's use thereof as a hotel and operations thereat comply in all material respects with all applicable Legal Requirements and all Insurance Requirements.
Buyer acknowledges that Seller will employ the services of PZR or another reputable vendor (“Natural Hazard Expert”) to examine the maps and other information specifically made available to the public by government agencies and to report the results of its examination to Buyer in writing.
To Borrower’s knowledge and except as described in the PZR Report or the Property Condition Report, no legal proceedings are pending or threatened with respect to the zoning of the Property and neither the zoning nor any other right to use or operate the Property is in any way dependent upon or related to any property other than the Property.