Common use of Access to the Property Clause in Contracts

Access to the Property. (a) Buyer and/or its agents and representatives, during normal business hours and after reasonable advance notice to Seller, may enter upon any of the Real Property from time to time prior to the Closing Date, accompanied by an agent of Seller, for purposes of conducting such inspections, investigations and/or studies as Buyer deems necessary, including, without limitation, financial reviews, physical inspections, lease reviews and environmental reviews and testing, which activities may include test borings and soil samplings ("Buyer's Due Diligence Activities"). Buyer's access to the Real Property shall be subject to the rights of the Tenants of any of the Real Property, who shall not be unreasonably disturbed during any such inspection by Buyer. Buyer shall not engage in any activity in or about the Real Property which directly or indirectly violates the terms of any governmental or quasi-governmental statute, rule, regulation, order or practice. Buyer shall not make any physical changes to any of the Real Property, except for test borings and soil samplings which shall be performed only by licensed engineers reasonably acceptable to Seller and only after three (3) business days' prior notice to Seller. Buyer may contact any governmental or quasi-governmental authorities concerning the Property without the prior written approval of Seller. Seller shall have the opportunity to observe any and all action taken by Buyer or its representatives, consultants, agents, etc. pursuant to this paragraph 10. All information set forth in any document which Seller has granted to Buyer the express right to review, if any, shall be held in strict confidence until Closing and thereafter in the event Closing does not occur. If Buyer violates its obligations under this Paragraph 10(a) or in the event of any physical damage to any of the Real Property or any Personal Property resulting, directly or indirectly, from the exercise by Buyer of its rights under this Paragraph 10(a), Buyer hereby agrees to restore the Real Property and Personal Property to their respective conditions prior to incurring such damage. Buyer hereby agrees to indemnify, defend and hold harmless Seller from and against all physical damage to any of the Real Property and Personal Property, personal injury and/or any other claims or liability which may occur as a result of Buyer's (or Buyer's agents, employees, invitees or licensees) entry or activities upon any of the Real Property. The provisions of this Paragraph 10(a) shall survive Closing or other termination of this Agreement. (b) Buyer, or any of Buyer's consultants performing physical tests on the Real Property shall maintain public liability insurance policies (naming Seller as an additional named insured with respect to any liability occurring on the Real Property), with combined single limit coverage of at least $1,000,000, insuring against claims arising as a result of the inspections of Buyer, its agents, employees or such contractors at any of the Real Property. A certificate of insurance evidencing the foregoing coverage shall be delivered to Seller prior to Buyer's or any of Buyer's consultants' entry on to any of the Real Property. (c) In the event Closing does not occur or this Agreement is terminated, Buyer shall promptly return to Seller any documents obtained from Seller or Seller's agents and deliver, to Seller without charge, copies of all written test results, studies, reports and similar materials obtained by or on behalf of Buyer relating to any of the Real Property.

Appears in 3 contracts

Samples: Agreement of Sale (Brandywine Realty Trust), Agreement of Sale (Brandywine Realty Trust), Agreement of Sale (Brandywine Realty Trust)

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Access to the Property. (a) Buyer and/or its agents and representatives, during normal business hours and after reasonable advance notice to Seller, may enter upon any of the Real Property Properties from time to time prior to the Closing Date, accompanied by an agent of Seller, for purposes of conducting such inspections, investigations and/or studies as Buyer deems necessary, including, without limitation, financial reviews, physical inspections, lease reviews and environmental reviews and testing, which activities may include test borings and soil samplings ("Buyer's Due Diligence Activities"). Buyer's access to the Real Property Properties shall be subject to the rights of the Tenants of any of the Real PropertyProperties, who shall not be unreasonably disturbed during any such inspection by Buyer. Buyer shall not engage in any activity in or about the Real Property Properties which directly or indirectly violates the terms of any governmental or quasi-governmental statute, rule, regulation, order or practice. Buyer shall not make any physical changes to any of the Real PropertyProperties, except for test borings and soil samplings which shall be performed only by licensed engineers reasonably acceptable to Seller and only after three (3) business days' prior notice to Seller. Buyer may contact any governmental or quasi-governmental authorities concerning the Property without the prior written approval of Seller. Seller shall have the opportunity to observe any and all action taken by Buyer or its representatives, consultants, agents, etc. pursuant to this paragraph 10. All information set forth in any document which Seller has granted to Buyer the express right to review, if any, shall be held in strict confidence until Closing and thereafter in the event Closing does not occur. If Buyer violates its obligations under this Paragraph 10(a) or in the event of any physical damage to any of the Real Property Properties or any Personal Property resulting, directly or indirectly, from the exercise by Buyer of its rights under this Paragraph 10(a), Buyer hereby agrees to restore the Real Property Properties and Personal Property to their respective conditions prior to incurring such damage. Buyer hereby agrees to indemnify, defend and hold harmless Seller from and against all physical damage to any of the Real Property Properties and Personal Property, personal injury and/or any other claims or liability which may occur as a result of Buyer's (or Buyer's agents, employees, invitees or licensees) entry or activities upon any of the Real PropertyProperties. The provisions of this Paragraph 10(a) shall survive Closing or other termination of this Agreement. (b) Buyer, or any of Buyer's consultants performing physical tests on the Real Property Properties shall maintain public liability insurance policies (naming Seller as an additional named insured with respect to any liability occurring on the Real PropertyProperties), with combined single limit coverage of at least $1,000,000, insuring against claims arising as a result of the inspections of Buyer, its agents, employees or such contractors at any of the Real PropertyProperties. A certificate of insurance evidencing the foregoing coverage shall be delivered to Seller prior to Buyer's or any of Buyer's consultants' entry on to any of the Real PropertyProperties. (c) In the event Closing does not occur or this Agreement is terminated, Buyer shall promptly return to Seller any documents obtained from Seller or Seller's agents and deliver, to Seller without charge, copies of all written test results, studies, reports and similar materials obtained by or on behalf of Buyer relating to any of the Real PropertyProperties.

Appears in 1 contract

Samples: Agreement of Sale (Brandywine Realty Trust)

Access to the Property. (a) Buyer and/or its agents and representatives, during normal business hours and after reasonable advance notice to Seller, may enter upon any of the Real Property from time to time prior to the Closing Date, accompanied by an agent of Seller, for purposes of conducting such inspections, investigations and/or studies as Buyer deems necessary, including, without limitation, financial reviews, physical inspections, lease reviews and environmental reviews and testing, which activities may include test borings and soil samplings ("Buyer's Due Diligence Activities"). Buyer's access to the Real Property shall be subject to the rights of the Tenants of any of the Real Property, who shall not be unreasonably disturbed during any such inspection by Buyer. Buyer shall not engage in any activity in or about the Real Property which directly or indirectly violates the terms of any governmental or quasi-governmental statute, rule, regulation, order or practice. Buyer shall not make any physical changes to any of the Real Property, except for test borings and soil samplings which shall be performed only by licensed engineers reasonably acceptable to Seller and only after three (3) business days' prior notice to Seller. Buyer may contact any governmental or quasi-governmental authorities concerning the Property without the prior written approval of Seller. Seller shall have the opportunity to observe any and all action taken by Buyer or its representatives, consultants, agents, etc. pursuant to this paragraph 10. All information set forth in any document which Seller has granted to Buyer the express right to review, if any, shall be held in strict confidence until Closing and thereafter in the event Closing does not occur. If Buyer violates its obligations under this Paragraph 10(a) or in the event of any physical damage to any of the Real Property or any Personal Property resulting, directly or indirectly, from the exercise by Buyer of its rights under this Paragraph 10(a), Buyer hereby agrees to restore the Real Property and Personal Property to their respective conditions prior to incurring such damage. Buyer hereby agrees to indemnify, defend and hold harmless Seller from and against all physical damage to any of the Real Property and Personal Property, personal injury and/or any other claims or liability which may occur as a result of Buyer's (or Buyer's agents, employees, invitees or licensees) entry or activities upon any of the Real Property. The provisions of this Paragraph 10(a) shall survive Closing or other termination of this Agreement. (b) Buyer, or any of Buyer's consultants performing physical tests on the Real Property shall maintain public liability insurance policies (naming Seller as an additional named insured with respect to any liability occurring on the Real Property), with combined single limit coverage of at least $1,000,000, insuring against claims arising as a result of the inspections of Buyer, its agents, employees or such contractors at any of the Real Property. A certificate of insurance evidencing the foregoing coverage shall be delivered to Seller prior to Buyer's or any of Buyer's consultants' entry on to any of the Real Property. (c) In the event Closing does not occur or this Agreement is terminated, Buyer shall promptly return to Seller any documents obtained from Seller or Seller's agents and deliver, to Seller without charge, copies of all written test results, studies, reports and similar materials obtained by or on behalf of Buyer relating to any of the Real Property.

Appears in 1 contract

Samples: Agreement of Sale (Brandywine Realty Trust)

Access to the Property. (a) Buyer and/or The Partnership and its agents agents, employees and representatives, during normal business hours and after reasonable advance notice to Sellerany Contributor, may enter upon any of the Real Property of such Contributor from time to time prior to the Closing DateDate with respect to such Real Property, accompanied by an agent of Sellerthe Contributor, for purposes of conducting such inspections, investigations and/or studies as Buyer the Partnership deems necessary, including, without limitation, financial reviews, physical inspections, lease reviews and environmental reviews and testing, which activities may include test borings and soil samplings (the "Buyer's Due Diligence ActivitiesPartnership Inspections"). BuyerThe Partnership's access to the Real Property shall be subject to the rights of the Tenants of any of the Real Property, who shall not be unreasonably disturbed during any such inspection by Buyerthe Partnership. Buyer The Partnership shall not engage in any activity in or about the Real Property which directly or indirectly violates the terms of any governmental or quasi-governmental statute, rule, regulation, order or practice. Buyer The Partnership shall not make any physical changes to any of the Real Property, except for test borings and soil samplings which shall be performed only by licensed engineers reasonably acceptable to Seller the Contributor and only after three (3) business days' prior notice to Sellerthe Contributor. Buyer The Partnership may contact any governmental or quasi-governmental authorities concerning the Property without the prior written approval of Sellerthe Contributor. Seller The Partnership shall give the Contributor at least five (5) days notice prior to the Partnership contacting any such governmental or quasi-governmental authorities. The Contributor shall have the opportunity to observe any and all action taken by Buyer the Partnership or its representatives, consultants, agents, etc. pursuant to this paragraph 10Paragraph 12. All information set forth in any document which Seller the Contributor has granted to Buyer the Partnership the express right to review, if any, shall be held in strict confidence until the Closing Date hereunder to which such information relates. The Partnership shall promptly repair any damage to the Real Property resulting from the Partnership Inspections and thereafter replace, refill and regrade any holes made in, or excavations of, any portion of the Real Property used for such Partnership Inspections so that the Real Property shall be in the event Closing does same condition that it existed prior to such Partnership Investigations. In conducting any inspections, investigations or tests of the Real Property, the Trust and the Partnership and their agents and representatives shall: (i) not occur. If Buyer violates its obligations under this Paragraph 10(adisturb or interfere in any material respect with the Tenants' use of the Real Property pursuant to their respective Leases; (ii) or not interfere in any material respect with the event operation and maintenance of the Real Property; (iii) not damage in any physical damage to material respect any part of the Real Property or any Personal Property resultingpersonal property owned or held by Tenant or any other Person; (iv) not injure or otherwise cause bodily harm to any Contributor, directly or indirectlyits agents, from guests, invitees, contractors and employees or any Tenant or any other Person; (v) promptly pay when due the exercise costs of all tests, investigations, and examinations performed by Buyer or on behalf of its rights under this Paragraph 10(a), Buyer hereby agrees the Trust or the Partnership with regard to restore the Real Property Property; and Personal Property (vi) comply with all statutes, laws, ordinances, rules and regulations applicable to their respective conditions prior to incurring any such damageinspections, investigations or tests. Buyer The Partnership hereby agrees to indemnify, defend and hold harmless Seller Contributor from and against all (a) physical damage to any of the Real Property and Personal Property, personal injury and/or any other claims or liability which may occur as a result of Buyerthe Partnership's (or Buyerthe Partnership's agents, employees, invitees or licenseesrepresentatives) entry or activities upon any of the Real Property, as specified in this Paragraph and (b) any liens or encumbrances filed or recorded against any of the Real Property as a consequence of the Partnership or the Partnership's representatives entry thereon. The provisions of this Paragraph 10(a12(a) shall survive Closing or other termination of this Agreement. (b) BuyerThe Partnership, or any of Buyerthe Partnership's consultants performing physical tests on the Real Property Property, shall maintain public liability insurance policies (naming Seller each Contributor as an additional named insured with respect to any liability occurring on the Real PropertyProperty of such Contributor), with combined single limit coverage of at least $1,000,000, insuring against claims arising as a result of the inspections of Buyerthe Partnership, its agents, employees or such contractors at any of the Real Property. A certificate of insurance evidencing the foregoing coverage shall be delivered to Seller Contributor prior to Buyerthe Partnership's or any of Buyerthe Partnership's consultants' entry on to any of the Real Property. Notwithstanding anything to the contrary in Paragraph 12(a), the Partnership shall have no obligation to indemnify any contributor to the extent that any liability is covered by the insurance obtained by the Partnership pursuant to this Paragraph 12(b). (c) In the event Closing does not occur with respect to one or this Agreement is terminatedmore Parcels of Real Property, Buyer the Partnership shall promptly return to Seller Contributor any documents obtained from Seller Contributor or SellerContributor's agents and deliverdeliver to Contributor, to Seller without charge, copies of all written test results, studies, reports and similar materials obtained by or on behalf of Buyer the Partnership relating to any of the such Real Property.

Appears in 1 contract

Samples: Contribution Agreement (Brandywine Realty Trust)

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Access to the Property. (a) Buyer and/or its agents and representativesrepresentatives shall have the right, during normal business hours and after reasonable advance notice notice, to Seller, may enter upon any of the Real Property from time to at any time prior to the Closing Date, accompanied by an agent of Seller (if made available by Seller), for purposes of conducting such inspections, investigations and/or studies as Buyer deems necessary, including, without limitation, financial reviews, physical inspections, lease reviews and environmental reviews and testing, which activities may include test borings and soil samplings reasonably necessary ("Buyer's Due Diligence ActivitiesBUYER'S DUE DILIGENCE ACTIVITIES"). Buyer's access to the Real Property shall be accompanied by a representative of Seller (if made available by Seller), and shall be subject to the rights of the Tenants of and other occupants and owners at Main Street. Buyer shall not unreasonably disturb any of the Real PropertyTenants or other occupants or owners at Main Street in conducting its inspections, who shall not be unreasonably disturbed during any such inspection by Buyertests and studies. Buyer shall not engage in any activity in or about the Real Property which directly or indirectly violates the terms of any governmental or quasi-governmental statute, rule, regulation, order or practice. Buyer shall not make any physical changes to any of the Real Property, except Except for test borings and soil samplings which shall be performed only by licensed engineers reasonably acceptable to Seller and only after three (3) business days' prior notice to Seller. Buyer may contact any governmental or quasi-governmental authorities concerning the Property without the prior written approval of Seller. Seller shall have the opportunity to observe any and all action taken by Buyer or its representatives, consultants, agents, etc. pursuant to this paragraph 10. All information set forth in any document which Seller has granted to Buyer the express right to review, if any, shall be held in strict confidence until Closing and thereafter in the event Closing does not occur. If Buyer violates its obligations under this Paragraph 10(a) or in the event of any physical damage to any of the Real Property or any Personal Property resulting, directly or indirectly, from the exercise by Buyer of its rights under this Paragraph 10(a), Buyer hereby agrees to restore the Real Property and Personal Property to their respective conditions prior to incurring such damage. Buyer hereby agrees to indemnify, defend and hold harmless Seller from and against all physical damage to any of the Real Property and Personal Property, personal injury and/or any other claims or liability which may occur as a result of Buyer's (or Buyer's agents, employees, invitees or licensees) entry or activities upon any of the Real Property. The provisions of this Paragraph 10(a) shall survive Closing or other termination of this Agreement.typical environmental Phase I testing (b) Buyer, or any Buyer acknowledges that Seller has made available to Buyer at Seller's offices copies of Buyer's consultants performing physical tests the documents and items described on the Real Property shall maintain public liability insurance policies (naming Seller as an additional named insured Schedule "P" with respect to any liability occurring on Due Diligence Activities. Except as otherwise provided herein, Seller makes no representation or warranty whatsoever, express or implied, as to the Real Property)content, with combined single limit coverage completeness or accuracy of at least $1,000,000, insuring against claims arising as a result of the inspections of Buyer, its agents, employees or such contractors at any of the Real Property. A certificate of insurance evidencing the foregoing coverage shall be delivered to Seller prior to Buyer's or any of Buyer's consultants' entry documents and items described on to any of the Real PropertySchedule "P". (c) In Seller shall use commercially reasonable efforts to obtain an estoppel certificate in substantially the event form set forth on Exhibit "Q-1", as such form may be modified on an individual basis to comport with the circumstances of an individual tenancy ("ESTOPPEL"), from each of the Tenants leasing space in the Property as of the Effective Date; provided, however, that Seller shall not be required to obtain and deliver to Buyer an Estoppel from a Tenant whose lease expires prior to the Closing Date. Seller shall use reasonable efforts to deliver to Buyer, prior to the Due Diligence Termination Date, an Estoppel from Tenants leasing all of the space in the Property; provided, that Seller shall, as an express condition to Buyer's obligations under this Agreement, obtain Estoppels from at least eighty (80%) percent of the total leased rentable square footage of office space in the Property which is under lease as of the Execution Date, and which shall include Estoppels from those Tenants leasing the four (4) largest amounts of space in the Plaza 1000 Building, along with Coopxx Xxxpital, a tenant of a portion of the Piazza Commercial Space, and West Jersey Hospital, a tenant of a portion of the Promenade Commercial Space (the "ESTOPPEL STANDARD"). If, prior to Closing, Seller does not occur or this Agreement is terminated, Buyer shall promptly return to Seller any documents obtained obtain Estoppels from Seller or Seller's agents and deliver, to Seller without charge, copies of all written test results, studies, reports and similar materials obtained by or on behalf of Buyer relating to any of the Real Property.Tenants but does obtain enough Estoppels from a sufficient number of tenants then leasing space in

Appears in 1 contract

Samples: Agreement of Sale (Brandywine Realty Trust)

Access to the Property. (a) Buyer The Partnership and/or its agents and representatives, during normal business hours and after reasonable advance notice to SellerFirst Commercial, may enter into the office of First Commercial where its books and records are located and enter upon any of the Real Property from time to time prior to the Closing Date, accompanied by an agent of SellerFirst Commercial, for purposes of conducting such inspections, investigations and/or studies as Buyer the Partnership deems necessary, including, without limitation, financial reviewsfinancial, operational and historical reviews of the Real Property and First Commercial, physical inspections, lease reviews and environmental reviews and testing, which activities may include test borings and soil samplings (the "BuyerPartnership's Due Diligence Activities"). BuyerThe Partnership's access to the Real Property shall be subject to the rights of the Tenants of any of the Real Property, who shall not be unreasonably disturbed during any such inspection by Buyerthe Partnership. Buyer The Partnership shall not engage in any activity in or about the Real Property which directly or indirectly violates the terms of any governmental or quasi-governmental statute, rule, regulation, order or practice. Buyer The Partnership shall not make any physical changes to any of the Real Property, except for test borings and soil samplings which shall be performed only by licensed engineers reasonably acceptable to Seller First Commercial and only after three (3) business days' prior notice to SellerFirst Commercial. Buyer The Partnership may contact any governmental or quasi-governmental authorities concerning the Property without the prior written approval of SellerFirst Commercial. Seller First Commercial shall have the opportunity to observe any and all action taken by Buyer the Partnership or its representatives, consultants, agents, etc. pursuant to this paragraph Paragraph 10. All information set forth in any document which Seller First Commercial has granted to Buyer the Partnership the express right to review, if any, shall be held in strict confidence until Closing and thereafter in the event Closing does not occur. If Buyer the Partnership violates its obligations under this Paragraph 10(a) or in the event of any physical damage to any of the Real Property or any Personal Property resulting, directly or indirectly, from the exercise by Buyer the Partnership of its rights under this Paragraph 10(a), Buyer the Partnership hereby agrees to restore the Real Property and Personal Property to their respective conditions prior to incurring such damage. Buyer The Partnership hereby agrees to indemnify, defend and hold harmless Seller First Commercial from and against all physical damage to any of the Real Property and Personal Property, personal injury and/or any other claims or liability which may occur as a result of Buyerthe Partnership's (or Buyerthe Partnership's agents, employees, invitees or licensees) entry or activities upon any of the Real Property. The provisions of this Paragraph 10(a) shall survive Closing or other termination of this Agreement. (b) BuyerThe Partnership, or any of Buyerthe Partnership's consultants performing physical tests on the Real Property shall maintain public liability insurance policies (naming Seller First Commercial as an additional named insured with respect to any liability occurring on the Real Property), with combined single limit coverage of at least $1,000,000, insuring against claims arising as a result of the inspections of Buyerthe Partnership, its agents, employees or such contractors at any of the Real Property. A certificate of insurance evidencing the foregoing coverage shall be delivered to Seller First Commercial prior to Buyerthe Partnership's or any of Buyerthe Partnership's consultants' entry on to any of the Real Property. (c) In the event Closing does not occur or this Agreement is terminated, Buyer the Partnership shall promptly return to Seller First Commercial any documents obtained from Seller First Commercial or SellerFirst Commercial's agents and deliverdeliver to First Commercial upon request by First Commercial, to Seller without charge, copies of all written test results, studies, reports and similar materials obtained by or on behalf of Buyer the Partnership relating to any of the Real Property.

Appears in 1 contract

Samples: Contribution Agreement (Brandywine Realty Trust)

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