Common use of Acceptance of the Property Clause in Contracts

Acceptance of the Property. By execution of this Second Amendment, Purchaser acknowledges and agrees that (a) Purchaser has elected not to terminate the Agreement prior to expiration of the Inspection Period, and hereby waives its right to do so; (b) from and after the Second Amendment Effective Date, the Exxxxxx Money shall payable to either Purchaser or Seller in accordance with the Agreement without regard to Purchaser’s right to request a refund thereof under Section 5.3(c); (c) as provided in Section 5.3(d) of the Agreement, Purchaser has determined that the Property is satisfactory and feasible for its intended use and has accepted title to the Property subject only to the Permitted Exceptions and on an “AS IS” basis as described in Section 6.31 of the Agreement, except for the Seller Matters, and (d) Purchaser has elected to assume the Management Agreement, pursuant to its option to do so under the Agreement.

Acceptance of the Property. By execution of this Second Amendment, Purchaser acknowledges and agrees that (a) Purchaser has elected not to terminate the Agreement prior to expiration of the Inspection Period, and hereby waives its right to do so; (b) from and after the Second Amendment Effective Date, the Exxxxxx Money shall be payable to either Purchaser or Seller in accordance with the Agreement without regard to Purchaser’s right to request a refund thereof under Section 5.3(c); and (c) as provided in Section 5.3(d) of the Agreement, Purchaser has determined that the Property is satisfactory and feasible for its intended use and has accepted title to the Property subject only to the Permitted Exceptions and on an “AS IS” basis as described in Section 6.31 of the Agreement, except for the Seller Matters, and (d) Purchaser has elected to assume the Management Agreement, pursuant to its option to do so under the Agreement.

Acceptance of the Property. By execution of this Second Amendment, Purchaser acknowledges and agrees that (a) Purchaser has elected not to terminate the Agreement prior to expiration of the Inspection Period, and hereby waives its right to do so; (b) from and after the Second Amendment Effective Date, the Exxxxxx Money shall payable to either Purchaser or Seller in accordance with the Agreement without regard to Purchaser’s right to request a refund thereof under Section 5.3(c); and (c) as provided in Section 5.3(d) of the Agreement, Purchaser has determined that the Property is satisfactory and feasible for its intended use and has accepted title to the Property subject only to the Permitted Exceptions and on an “AS IS” basis as described in Section 6.31 of the Agreement, except for the Seller Matters, and (d) Purchaser has elected to assume the Management Agreement, pursuant to its option to do so under the Agreement.

Acceptance of the Property. By execution of this Second First Amendment, Purchaser acknowledges and agrees that (a) Purchaser has elected not to terminate the Agreement prior to expiration of the Inspection Period, and hereby waives its right to do so; (b) from and after the Second First Amendment Effective Date, the Exxxxxx Money shall payable to either Purchaser or Seller in accordance with the Agreement without regard to Purchaser’s right to request a refund thereof under Section 5.3(c); ): and (c) as provided in Section 5.3(d) of the Agreement, Purchaser has determined that the Property is satisfactory and feasible for its intended use and has accepted title to the Property subject only to the Permitted Exceptions and on an “AS IS” basis as described in Section 6.31 of the Agreement, except for the Seller Matters, and (d) Purchaser has elected to assume the Management Agreement, pursuant to its option to do so under the Agreement.