Occupancy / Risk Sample Clauses

Occupancy / Risk. The Purchaser acknowledges that the Vendor may not allow the Purchaser to occupy the Real Property until the occupancy requirements of the Municipality have been complied with and the Purchaser has completed and executed the PDI Form prior to closing, and in the event that the Purchaser shall occupy the Real Property prior to the compliance of the aforesaid occupancy requirements, then the Purchaser shall indemnify the Vendor for any costs, charges or penalties paid or payable by the Vendor as a result of the Purchaser's occupancy as aforesaid. Notwithstanding anything contained to the contrary in this Agreement, the Vendor shall have the right to defer closing until the Municipality consents to occupancy. The Purchaser acknowledges that if it is the policy of the Municipality to issue occupancy permits or certificates, such permits or certificates may not be available for delivery to the Purchaser on closing and shall thereafter be available for the Purchaser to obtain on its own at its expense. Provided that the House has been inspected and permission to occupy has been granted by the Municipality or building official on or before closing, the Purchaser shall close the transaction. The Real Property shall be and remain at the risk of the Vendor until Closing. In the event of damage to the Real Property prior to the Closing Date which frustrates the contract or renders the performance thereof impossible, or for which the Vendor otherwise has the right to terminate this Agreement at law or inequity, then the Vendor may, in the Vendor’s sole discretion, either: (1) terminate this Agreement and return to the Purchaser all deposits theretofore paid by the Purchaser to the Vendor in accordance with the Addendum, and upon such termination the Vendor shall be relieved of all liability pursuant to this Agreement; or (2) make such repairs as are necessary and complete this transaction, it being understood and agreed that all insurance policies and the proceeds thereof are to be for the benefit of the Vendor alone.
Sample 1
AutoNDA by SimpleDocs

Related to Occupancy / Risk

  • Occupancy The Assuming Institution shall give the Receiver fifteen (15) days' prior written notice of its intention to vacate prior to vacating any leased Bank Premises with respect to which the Assuming Institution has not exercised the option provided in Section 4.6(b). Any such notice shall be deemed to terminate the Assuming Institution's option with respect to such leased Bank Premises.

  • Occupancy Requirements Residence hall space may be occupied only by the student with whom this agreement is made. The agreement may not be assigned, and residence hall space may not be sublet, rented to, or otherwise shared with or another person. a Guest Limitations: Students are responsible for the actions and any damages incurred by their guests.

  • Occupancy Rights The School shall possess the lawful right to occupy and use the premises on which the School operates. The School shall provide the Commission a copy of the School's lease, deed, or other occupancy agreement for all locations identified in Exhibit A (Educational Program), except if the School occupies DOE school facilities.

  • Leased Premises Lessor hereby leases to Lessee, and Lessee leases and takes from Lessor, the Leased Premises subject to the conditions of this Lease.

  • The Premises Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises set forth in Section 2.2 of the Summary (the “Premises”). The outline of the Premises is set forth in Exhibit A attached hereto, and an outline of the Project is set forth in Exhibit A-1 attached hereto. The parties hereto agree that the lease of the Premises is upon and subject to the terms, covenants and conditions herein set forth, and Tenant covenants as a material part of the consideration for this Lease to keep and perform each and all of such terms, covenants and conditions by it to be kept and performed and that this Lease is made upon the condition of such performance. The parties hereto hereby acknowledge that the purpose of Exhibit A is to show the approximate location of the Premises in the “Building,” as that term is defined in Section 1.1.2, below, only, and such Exhibit is not meant to constitute an agreement, representation or warranty as to the construction of the Premises, the precise area thereof or the specific location of the “Common Areas,” as that term is defined in Section 1.1.3, below, or the elements thereof or of the accessways to the Premises or the “Project,” as that term is defined in Section 1.1.2, below. Except as specifically set forth in this Lease, Tenant shall accept the Premises in its presently existing “as-is” condition and Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises. Tenant also acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty regarding the condition of the Premises, the Building or the Project or with respect to the suitability of any of the foregoing for the conduct of Tenant’s business, except as specifically set forth in this Lease. However, notwithstanding the foregoing, Landlord agrees that base Building electrical, mechanical, heating, ventilation and air conditioning and plumbing systems located in the Premises shall be in good working order and the roof shall be water tight as of the date Landlord delivers possession of the Premises to Tenant. Except to the extent caused by the acts or omissions of Tenant or any Tenant Parties (as defined in Section 10.13 below) by any alterations or improvements performed by or on behalf of Tenant, if such systems and/or the roof are not in good working order as of the date possession of the Premises is delivered to Tenant and Tenant provides Landlord with notice of the same within ninety (90) days following the date Landlord delivers possession of the Premises to Tenant, Landlord shall be responsible for repairing or restoring the same at Landlord’s sole cost and expense. Subject to any repairs or restoration required by the immediately preceding sentence, the commencement of business operations from the Premises by Tenant shall presumptively establish that the Premises and the Building were at such time in good and sanitary order, condition and repair. For purposes of Section 1938 of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Premises, the Building and the Project have not undergone inspection by a Certified Access Specialist (CASp).

  • Landlord’s Insurance Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.

  • Leased Property Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord's right, title and interest in and to all of the following (collectively, the "Leased Property"):

  • Occupancy Permit CLEC occupancy of Structure shall be pursuant to a permit issued by CBT for each requested Attachment. Any such permit shall terminate (a) if CLEC's franchise, consent or other authorization from federal, state, county or municipal entities or private property owners is terminated, (b) if CLEC has not placed and put into service its Attachments within one hundred eighty (180) days from the date CBT has notified CLEC that such Structure is available for CLEC's Attachments, and such delay is not caused by an CBT Delaying Event, (c) if CLEC ceases to use such Attachment for any period of one hundred eighty (180) consecutive days, (d) if CLEC fails to comply with a material term or condition of this Article XVI and does not correct such noncompliance within sixty (60) days after receipt of notice thereof from CBT or (e) if CBT ceases to have the right or authority to maintain its Structure, or any part thereof, to which CLEC has Attachments. If CBT ceases to have the right or authority to maintain its Structure, or any part thereof, to which CLEC has Attachments, CBT shall (i) provide CLEC notice within ten (10) Business Days after CBT has knowledge of such fact and (ii) not require CLEC to remove its Attachments from such Structure prior to CBT's removal of its own attachments. CBT will provide CLEC with at least sixty (60) days written notice prior to (x) terminating a permit or service to an CLEC Attachment or removal thereof for a material breach of the provisions of this Article XVI, (y) any increase in the rates for Attachments to CBT's Structure permitted by the terms of this Agreement, or (z) any modification to CBT's Structure to which CLEC has an Attachment, other than a modification associated with routine maintenance or as a result of an emergency. If CLEC surrenders its permit for any reason (including forfeiture under the terms of this Agreement), but fails to remove its Attachments from the Structure within one hundred eighty (180) days after the event requiring CLEC to so surrender such permit, CBT shall remove CLEC's Attachments at CLEC's expense.

  • Possession and Occupancy The Seller will deliver possession and occupancy of the Property to the Buyer at Closing. The Seller shall provide access to all locks, including keys, remote controls, and any security/access codes, necessary to operate all locks, mailboxes, and security systems.

  • Demised Premises The Landlord hereby demises and leases to the Tenant, and the Tenant hereby leases from the Landlord, upon and subject to the terms and provisions of this Lease (which term is used herein shall include all Exhibits attached hereto or referred to herein), the commercial space (sometimes hereinafter referred to as the "Demised Premises") depicted on Exhibit A hereto annexed and made a part hereof. Said Demised Premises contain approximately six thousand six hundred fifty-one (6,651) square feet of floor area (measuring from (i) the center of the two side demising walls and (ii) the front lease line of the Demised Premises, through the rear wall), commonly known as suite 3800 on level 3 as shown on Exhibit A-1 attached hereto of the multi-level structure (the "Mall Building"), which Landlord has constructed on a parcel of land (the "Shopping Center Site") located in Dallas, Dallas County, Texas. The metes and bounds description of the Shopping Center Site is set forth on Exhibit A-2 annexed hereto and made a part hereof. In the event, within sixty (60) days after commencement of the term of this Lease, either party hereto finds that the actual floor area of the Demised Premises differs by ten (10) square feet or more from the floor area set forth hereinabove and such difference is confirmed by Landlord's independent architect (which confirmation shall be binding upon Landlord and Tenant absent bad faith or manifest error on the part of Landlord's architect), Landlord and Tenant shall execute an amendment to this Lease setting forth the actual floor area, and proportionately changing Tenant's monetary obligations, including Minimum Rent, based upon the ratio of the actual floor area of the Demised Premises to the floor area set forth hereinabove. The term "

Time is Money Join Law Insider Premium to draft better contracts faster.