Study Period definition
Examples of Study Period in a sentence
Seller makes no warranties whatsoever, including marketability of title, and in the event Buyer fails to provide written notification of its election to terminate this Agreement before the end of the Feasibility Study Period, Buyer accepts the Property “As-Is”.
If the Property is unacceptable to Buyer and written notice of this fact is timely delivered to Seller, this Agreement will be deemed terminated as of the day after the Feasibility Study Period ends and ▇▇▇▇▇’s Deposit(s) will be returned after ▇▇▇▇▇▇ Agent receives proper authorization from all interested parties.
During the Feasibility Study Period, Buyer may, at its sole expense, examine the title to the Property and obtain a commitment for title insurance (the "Title Commitment") covering the Property issued by Old Republic Title Insurance Company or other title company (the "Title Company"), which Title Commitment shall agree to issue to Buyer and/or ▇▇▇▇▇’s lender, upon the Closing of this transaction, an ALTA owner's and lender’s title insurance policy in the full amount of the Purchase Price.
During the Feasibility Study Period, Buyer may conduct a property inspection, title examination, environmental audit(s), surveys, review of zoning, land use and legal proceedings and any other tests, analyses, and investigations to determine the Property’s suitability to Buyer’s needs.
During the Feasibility Study Period, Buyer may, at its sole expense, obtain a current survey (the "Survey") of the Property prepared by a surveyor acceptable to Buyer and ▇▇▇▇▇’s lender, without in any way affecting the “As Is” provision of this Agreement.