Common use of Buyer’s Inspection Rights Clause in Contracts

Buyer’s Inspection Rights. From the Opening of Escrow and until the Closing or earlier termination of this Agreement, Buyer shall be provided with access to the Property and shall be permitted to inspect and examine the Property upon reasonable advance notice to Seller, subject in all cases to the provisions of this Paragraph 8(c) of this Agreement and the indemnification provisions described in Paragraph 8(d) of this Agreement. Subject to the rights of the tenants, Buyer and its Representatives shall have the right to conduct one or more “walk throughs” of the Property. It is understood and agreed that Buyer shall be responsible to perform such inspections and other examinations of the Property as Buyer deems necessary or desirable (including, without limitation, any tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property); provided, however, that as a condition precedent to exercising such rights, Buyer shall deliver to Seller a Certificate of Insurance evidencing commercial general liability coverage of not less than $1,000,000 combined limits, worker’s compensation insurance at statutory limits, and employer’s liability coverage of not less than $1,000,000. Buyer’s commercial liability insurance shall name Seller as an additional insured with respect to the Property, including, without limitation, in connection with Buyer’s access to the Property and its tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property. All tests, studies, investigations, inspections and other examinations by Buyer of the Property shall be conducted in a non-invasive manner. Buyer shall restore the Property to its original condition promptly after completing each such test, study, investigation, inspection and other examination. Buyer’s foregoing agreement shall survive any termination of this Agreement and shall survive Closing and the delivery of the Special Warranty Deed at Closing.

Buyer’s Inspection Rights. From the Opening of Escrow and (a) Buyer shall have until the Closing Feasibility Date to determine whether the Property is acceptable to Buyer with respect to any and all matters that Buyer desires to investigate including, but not limited to, title, survey, financing, physical, electrical, mechanical and environmental matters and zoning. (b) If Buyer finds the Property to be unacceptable and elects not to proceed with the transaction contemplated hereby, Buyer shall give, on or earlier before the Feasibility Date, written notice of termination to Seller. If Buyer shall give written notice of termination to Seller before the Feasibility Date, this Agreement shall be terminated. Upon such termination the Deposit shall be returned to Buyer within two (2) Business Days and neither party shall have any further rights or obligations hereunder, except, however, that Buyer shall remain obligated with respect to the indemnities and obligations contained in Sections 2.4 and 2.5 and any other provisions that expressly survive termination or expiration of this Agreement. (c) If Buyer fails to give written notice of termination to Seller on or before the Feasibility Date, Buyer shall be deemed to have found the Property acceptable in all respects and this Agreement shall remain in full force and effect and the Deposit shall be applied as provided with access in this Agreement. (d) Seller shall thereafter convey to Buyer at Closing (i) fee simple title to the Real Property by the Deed, free and shall be permitted to inspect clear of all liens and examine encumbrances and (ii) the Personal Property upon reasonable advance notice to Sellerby the Xxxx of Sale, subject free and clear of all liens and encumbrances, both in all cases to accordance with the provisions of this Paragraph 8(c) of this Agreement and the indemnification provisions described in Paragraph 8(d) of this Agreement. Subject to the rights of the tenants, Buyer and its Representatives shall have the right to conduct one or more “walk throughs” of the Property. It is understood and agreed that Buyer shall be responsible to perform such inspections and other examinations of the Property as Buyer deems necessary or desirable (including, without limitation, any tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property); provided, however, that as a condition precedent to exercising such rights, Buyer shall deliver to Seller a Certificate of Insurance evidencing commercial general liability coverage of not less than $1,000,000 combined limits, worker’s compensation insurance at statutory limits, and employer’s liability coverage of not less than $1,000,000. Buyer’s commercial liability insurance shall name Seller as an additional insured with respect to the Property, including, without limitation, in connection with Buyer’s access to the Property and its tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property. All tests, studies, investigations, inspections and other examinations by Buyer of the Property shall be conducted in a non-invasive manner. Buyer shall restore the Property to its original condition promptly after completing each such test, study, investigation, inspection and other examination. Buyer’s foregoing agreement shall survive any termination of this Agreement and shall survive Closing and the delivery of the Special Warranty Deed at Closing.

Buyer’s Inspection Rights. From the Opening of Escrow and (a) Buyer shall have until the Closing Feasibility Date to determine whether the Property is acceptable to Buyer with respect to any and all matters that Buyer desires to investigate including, but not limited to, title, survey, financing, physical, electrical, mechanical and environmental matters and zoning. (b) If Buyer finds the Property to be unacceptable and elects not to proceed with the transaction contemplated hereby, Buyer shall give, on or earlier before the Feasibility Date, written notice of termination to Seller. If Buyer shall give written notice of termination to Seller before the Feasibility Date, this Agreement shall be terminated. Upon such termination, Escrow Agent shall disburse the Deposit in accordance with 3.2(a) and any other applicable sections of this Agreement, and neither party shall have any further rights or obligations hereunder, except, however, that Buyer shall remain obligated with respect to the indemnities and obligations contained in Sections 2.4 and 2.5 and any other provisions that expressly survive termination or expiration of this Agreement. (c) If Buyer fails to give written notice of termination to Seller on or before the Feasibility Date, Buyer shall be provided with access deemed to have found the Property acceptable in all respects and this Agreement shall remain in full force and effect and the Deposit shall be permitted to inspect and examine the Property upon reasonable advance notice to Sellerapplied as provided in this Agreement. (d) Seller shall thereafter, subject in all cases to accordance with the provisions of this Paragraph 8(cAgreement, convey to Buyer (i) of this Agreement and the indemnification provisions described in Paragraph 8(d) of this Agreement. Subject title to the rights Real Property in fee simple, free and clear of all liens and encumbrances and (ii) the tenants, Buyer and its Representatives shall have the right to conduct one or more “walk throughs” of the Property. It is understood and agreed that Buyer shall be responsible to perform such inspections and other examinations of the Property as Buyer deems necessary or desirable (including, without limitation, any tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property); provided, however, that as a condition precedent to exercising such rights, Buyer shall deliver to Seller a Certificate of Insurance evidencing commercial general liability coverage of not less than $1,000,000 combined limits, worker’s compensation insurance at statutory limits, and employer’s liability coverage of not less than $1,000,000. Buyer’s commercial liability insurance shall name Seller as an additional insured with respect to the Personal Property, including, without limitation, in connection with Buyer’s access to the Property free and its tests, studies, investigations, inspections clear of all liens and other examinations of physical and environmental conditions of the Property. All tests, studies, investigations, inspections and other examinations by Buyer of the Property shall be conducted in a non-invasive manner. Buyer shall restore the Property to its original condition promptly after completing each such test, study, investigation, inspection and other examination. Buyer’s foregoing agreement shall survive any termination of this Agreement and shall survive Closing and the delivery of the Special Warranty Deed at Closingencumbrances.

Buyer’s Inspection Rights. From the Opening of Escrow and until the Closing or earlier termination of this Agreement, Buyer shall be provided with access to the Property and shall be permitted to inspect and examine the Property upon reasonable advance notice to Seller, subject in all cases to the provisions of this Paragraph 8(c) of this Agreement and the indemnification provisions described in Paragraph 8(d) of this Agreement. Subject to the rights of the tenants, Buyer and its Representatives shall have the right to conduct one or more “walk throughs” of the Property. It is understood and agreed that Buyer shall be responsible to perform such inspections and other examinations of the Property as Buyer deems necessary or desirable (including, without limitation, any tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property); provided, however, that as a condition precedent to exercising such rights, Buyer shall deliver to Seller a Certificate of Insurance evidencing commercial general liability coverage of not less than $1,000,000 combined limits, worker’s 's compensation insurance at statutory limits, and employer’s 's liability coverage of not less than $1,000,000. Buyer’s 's commercial liability insurance shall name Seller as an additional insured with respect to the Property, including, without limitation, in connection with Buyer’s 's access to the Property and its tests, studies, investigations, inspections and other examinations of physical and environmental conditions of the Property. All tests, studies, investigations, inspections and other examinations by Buyer of the Property shall be conducted in a non-invasive manner. Buyer shall restore the Property to its original condition promptly after completing each such test, study, investigation, inspection and other examination. Buyer’s 's foregoing agreement shall survive any termination of this Agreement and shall survive Closing and the delivery of the Special Warranty Deed at Closing.