Common use of Buyer’s Investigation Clause in Contracts

Buyer’s Investigation. 4.11.1 Buyer has had the opportunity to inspect, review and, in its sole and absolute discretion, approve the physical condition and acreage of the Property, entitlements, fees, exactions, the environmental, geological and seismic condition of the Property, zoning and other restrictions, economic and feasibility studies, the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records and such other matters as Buyer has deemed appropriate for its acquisition, development and use of the Property (collectively, the “Investigation”). Subject to the satisfaction of the conditions precedent to Buyer’s obligation to buy the Property set forth in Section 4.9, Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 of the Original Agreement. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreements, documents, permits and entitlements relating to the Property and its improvements and development dated as of and subsequent to May 15, 1996 (collectively, the “Records”) in Seller’s Possession (as hereinafter defined), without any warranties or representations of any kind (except as otherwise provided in this Agreement) or recourse against Seller, it being acknowledged by Buyer that such information is being provided only as an accommodation to Buyer. Notwithstanding anything to the contrary herein, Seller has not delivered and shall not deliver to Buyer, and the Records shall not be deemed to include, any attorney-client privileged information, attorney work product or other materials Seller is otherwise prohibited by law from providing. Posting of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used herein, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reason, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection with the Property or the transactions described in this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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Buyer’s Investigation. 4.11.1 Buyer has had (a) Except as contained in this Agreement or any of the opportunity to inspectdocuments executed by Seller in connection herewith, review andthere are no representations or warranties of any kind whatsoever, express or implied, made by Seller in its sole and absolute discretionconnection with this Agreement, approve the purchase of the Property by Buyer, the physical condition of the Property or whether the Property complies with applicable laws or is appropriate for Buyer's intended use; (b) Except as contained in this Agreement or any of the documents executed by Seller in connection herewith, Buyer is not relying on any statement or representation of Seller, its agents or its representatives nor on any information supplied by Seller, its agents or its representatives ; (c) Buyer, in entering into this Agreement and acreage in completing its purchase of the Property, entitlements, fees, exactions, the environmental, geological and seismic condition is relying entirely on its own investigation of the Property; (d) Buyer's decision, zoning on or prior to the Decision Date, of whether to purchase the Property on the terms and other restrictionsconditions hereof shall be made solely and exclusively in reliance on Buyer's own review, economic inspection and feasibility studies, the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records and such other matters as Buyer has deemed appropriate for its acquisition, development and use investigation of the Property (collectively, the “Investigation”). Subject to the satisfaction and of the conditions precedent to Buyer’s obligation to buy the Property set forth in Section 4.9, Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 of the Original Agreement. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreementsmaterials, documents, permits information and entitlements studies relating to the Property (including, without limitation, Buyer's Inspection or Physical Testing) and on the representations and warranties of Seller contained in this Agreement and in the documents executed by Seller in connection herewith; and (e) Buyer shall purchase the Property in its improvements and development dated "as is" condition as of and subsequent to May 15, 1996 (collectively, the “Records”) in Seller’s Possession (as hereinafter defined), without any warranties or representations date of any kind (except as otherwise provided in this Agreement) or recourse against Seller, it being acknowledged by Buyer that such information is being provided only as an accommodation to Buyer. Notwithstanding anything to the contrary herein, Seller has not delivered and shall not deliver to Buyer, and the Records shall not be deemed to include, any attorney-client privileged information, attorney work product or other materials Seller is otherwise prohibited by law from providing. Posting of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used herein, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reason, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection with the Property or the transactions described in this AgreementClosing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Price T Rowe Realty Income Fund Ii)

Buyer’s Investigation. 4.11.1 Buyer has had Except for the opportunity express representations and warranties of City set forth herein, Xxxxx acknowledges and agrees that there are no representations or warranties of any kind whatsoever, express or implied, made by City in connection with this Agreement, the conveyance of the Property to inspectthe Buyer, review and, in its sole and absolute discretion, approve the physical condition and acreage of the Property, entitlements, fees, exactions, the environmental, geological and seismic condition of the Property, whether the Property complies with applicable laws, or whether the Property is appropriate for Buyer’s intended use. The Buyer represents and agrees that it has (or will have chosen not to have) fully investigated the Property and all matters pertaining thereto. Except for the express representations and warranties of the City set forth herein, Xxxxx also acknowledges and agrees that: (i) Buyer is not relying on any statements or representations of the City or its officers, employees, agents, consultants or its representatives; (ii) Buyer, in entering into this Agreement and in financing and completing its construction of the Project, is relying entirely on its own investigation of the Property; (iii) Buyer is aware (or has chosen not to be aware) of all zoning regulations, other governmental requirements, prior and current Property and physical conditions, and other restrictions, economic matters affecting the use and feasibility studies, condition of the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records ; and such other matters as Buyer has deemed appropriate for its acquisition, development and use (iv) Buyer’s decision of whether to accept conveyance of the Property (collectivelyon the terms and conditions hereof shall be made solely in reliance on the City’s express representations and warranties in this Agreement and on Buyer’s review, the “Investigation”). Subject to the satisfaction inspection and investigation of the conditions precedent to Buyer’s obligation to buy the Property set forth in Section 4.9, Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 and of the Original Agreement. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreementsmaterials, documents, permits The password to the public access wireless network (colguest... information and entitlements studies relating to the Property and its improvements and development dated as of and subsequent to May 15Property. EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES OF THE CITY SET FORTH HEREIN, 1996 (collectivelyTHE CONVEYANCE OF THE BUYER PROPERTY AS PROVIDED FOR HEREIN IS MADE ON A STRICTLY “AS IS” “WHERE IS” CONDITION AND BASIS “WITH ALL FAULTS” AS OF THE CLOSING DATE, the “Records”) in Seller’s Possession (as hereinafter defined)AND THE CITY MAKES NO WARRANTY OR REPRESENTATION, without any warranties or representations of any kind (except as otherwise provided in this Agreement) or recourse against SellerEXPRESS OR IMPLIED, it being acknowledged by Buyer that such information is being provided only as an accommodation to Buyer. Notwithstanding anything to the contrary hereinOR ARISING BY OPERATION OF LAW, Seller has not delivered and shall not deliver to BuyerINCLUDING, and the Records shall not be deemed to includeBUT IN NO WAY LIMITED TO, any attorney-client privileged informationANY WARRANTY OF QUANTITY, attorney work product or other materials Seller is otherwise prohibited by law from providing. Posting of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used hereinQUALITY, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reasonCONDITION, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection with the Property or the transactions described in this AgreementHABITABILITY, MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY, ANY IMPROVEMENTS LOCATED THEREON OR ANY SOIL CONDITIONS RELATED THERETO.

Appears in 1 contract

Samples: Purchase and Sale Agreement

Buyer’s Investigation. 4.11.1 Buyer has acknowledges and agrees that, other than the limited representations set forth in Paragraph 6 hereof, and in the Grant Deed, Seller makes no representations or warranties, express or implied, as to the Property or the transactions contemplated by this Agreement. Prior to the expiration of the Contingency Period, Buyer will conduct (or will have had the an opportunity to inspectconduct) any and all inspections of the Property to its full and complete satisfaction, review and if Buyer acquires the Property from Seller, Buyer acknowledges that it will be purchasing the Property in its then “AS IS” condition. Buyer acknowledges that it is fully capable of evaluating the Property’s suitability for Buyer’s intended use. The Property is being sold and conveyed hereunder and, unless Buyer terminates this Agreement in its sole accordance with the terms of this Agreement prior to the expiration of the Contingency Period (or thereafter in accordance with the terms of this Agreement), Buyer agrees to accept the Property upon and absolute discretionfollowing the Close of Escrow hereunder “AS-IS,” “WHERE-IS” and “WITH ALL FAULTS” and subject to any condition which may exist now or in the future, approve and without any representation or warranty by Seller except as expressly set forth in said Paragraph 6 and in the physical condition Grant Deed. Except for a breach by Seller of a representation contained in Paragraph 6 hereof or the Grant Deed, Buyer hereby assumes the risk as of the Closing hereunder that certain conditions may exist on the Property, including, without limitation, environmental conditions that are material to the evaluation, inspection and acreage purchase of the Property. The Purchase Price is a negotiated purchase price representing the fact that the Property is being purchased by Buyer on an “AS IS,” “WHERE IS” and “WITH ALL FAULTS” basis. Buyer hereby expressly acknowledges and agrees that, entitlements, fees, exactions, except as expressly set forth in said Paragraph 6 and in the environmental, geological Grant Deed: (a) Buyer shall be solely responsible for determining the status and seismic condition of the Property, including, without limitation, environmental conditions, environmental regulations, zoning classifications, building regulations and other restrictions, economic governmental entitlement and feasibility studies, the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records and such other matters as Buyer has deemed appropriate for its acquisition, development and use of the Property (collectively, the “Investigation”). Subject to the satisfaction of the conditions precedent to Buyer’s obligation to buy the Property set forth in Section 4.9, Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 of the Original Agreement. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreements, documents, permits and entitlements relating requirements applicable to the Property and its improvements Buyer will have, prior to the end of the Contingency Period, thoroughly inspected and development dated as examined the Property to the extent deemed necessary by Buyer in order to enable Buyer to evaluate the purchase of the Property and subsequent to May 15(b) Buyer is relying solely upon such inspections, 1996 (collectivelyexamination, and evaluation of the Property by Buyer in purchasing the Property on an Records”) in Seller’s Possession (as hereinafter defined)AS IS,” “WHERE IS” and “WITH ALL FAULTS” basis, without any other representations or warranties or representations covenants, express or implied, of any kind or nature. Buyer hereby waives and relinquishes all rights and privileges arising out of, or with respect or in relation to, any representations, or warranties or covenants, whether express or implied, which may have been made or given, or which may be deemed to have been made or given, by Seller, other than the representations set forth in Paragraph 6 and the Grant Deed. Buyer hereby further acknowledges and agrees that warranties of merchantability and fitness for a particular purpose are excluded from the transaction contemplated hereby, as are any warranties arising from a course of dealing or usage of trade, and that Seller has not warranted, and does not hereby warrant, that the Property now or in the future will meet or comply with the requirements of any law or regulation of any applicable governmental authority or jurisdiction. Without limiting the generality of the foregoing, except for a breach of a representation or warranty contained in Paragraph 6 or the Grant Deed, Buyer hereby assumes as of the Close of Escrow all risk and liability (and agrees that Seller shall not be liable for any special, direct, indirect, consequential, or other damages) resulting or arising from or relating to the physical condition of the Property. Buyer acknowledges and agrees that except as otherwise provided specifically set forth in this Agreement) or recourse against Seller, it being acknowledged the sale provided for herein is made without any warranty by Buyer that such information is being provided only Seller as an accommodation to Buyer. Notwithstanding anything to the contrary nature or quality of the Property; the development potential of the Property; the prior history of or activities on the Property; the quality of labor and/or materials included in any of the improvements; the fitness of the Property for any particular purpose or development potential; the presence or suspected presence of hazardous waste or substances on, about, or under the Property or the improvements; or the zoning or other legal status of the Property. Except as specifically set forth in this Agreement, Buyer acknowledges and agrees that no person acting on behalf of Seller is authorized to make, and by the execution hereof Buyer hereby acknowledges that no person has made, any representation, agreement, statement, warranty, guaranty or promise regarding the Property, or the transaction contemplated herein, or regarding the zoning, construction, physical condition or other status of the Property, other than as contained in this Agreement, and no representation, warranty, agreement, statement, guaranty or promise, if any, made by any person acting on behalf of Seller which is not contained herein shall be valid or binding upon Seller. Without limiting anything else herein, Seller has not delivered advised Buyer that the roof of the Building may leak and shall not deliver to Buyeris or may be otherwise defective, and the Records shall Buyer acknowledges being so advised, and further that Seller has not be deemed and will not undertake any obligation with respect to includerepairing, any attorney-client privileged informationreplacing, attorney work product investigation of or other materials Seller is otherwise prohibited by law from providing. Posting of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used herein, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reason, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection dealing with the Property or the transactions described in this AgreementBuilding roof.

Appears in 1 contract

Samples: Real Estate Sales Contract (Ddi Corp)

Buyer’s Investigation. 4.11.1 Except for the express representations and warranties of City set forth herein, Buyer has had acknowledges and agrees that there are no representations or warranties of any kind whatsoever, express or implied, made by City in connection with this Agreement, the opportunity conveyance of the Property to inspectthe Buyer, review and, in its sole and absolute discretion, approve the physical condition and acreage of the Property, entitlements, fees, exactions, the environmental, geological and seismic condition of the Property, whether the Property complies with applicable laws, or whether the Property is appropriate for Buyer’s intended use. The Buyer represents and agrees that it has (or will have chosen not to have) fully investigated the Property and all matters pertaining thereto. Except for the express representations and warranties of the City set forth herein, Buyer also acknowledges and agrees that: (i) Buyer is not relying on any statements or representations of the City or its officers, employees, agents, consultants or its representatives; (ii) Buyer, in entering into this Agreement and in financing and completing its construction of the Project, is relying entirely on its own investigation of the Property; (iii) Buyer is aware (or has chosen not to be aware) of all zoning regulations, other governmental requirements, prior and current Property and physical conditions, and other restrictions, economic matters affecting the use and feasibility studies, condition of the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records ; and such other matters as Buyer has deemed appropriate for its acquisition, development and use (iv) Buyer’s decision of whether to accept conveyance of the Property (collectivelyon the terms and conditions hereof shall be made solely in reliance on the City’s express representations and warranties in this Agreement and on Buyer’s review, the “Investigation”). Subject to the satisfaction inspection and investigation of the conditions precedent to Buyer’s obligation to buy the Property set forth in Section 4.9, Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 and of the Original Agreement. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreementsmaterials, documents, permits information and entitlements studies relating to the Property and its improvements and development dated as of and subsequent to May 15Property. EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES OF THE CITY SET FORTH HEREIN, 1996 (collectivelyTHE CONVEYANCE OF THE BUYER PROPERTY AS PROVIDED FOR HEREIN IS MADE ON A STRICTLY “AS IS” “WHERE IS” CONDITION AND BASIS “WITH ALL FAULTS” AS OF THE CLOSING DATE, the “Records”) in Seller’s Possession (as hereinafter defined)AND THE CITY MAKES NO WARRANTY OR REPRESENTATION, without any warranties or representations of any kind (except as otherwise provided in this Agreement) or recourse against SellerEXPRESS OR IMPLIED, it being acknowledged by Buyer that such information is being provided only as an accommodation to Buyer. Notwithstanding anything to the contrary hereinOR ARISING BY OPERATION OF LAW, Seller has not delivered and shall not deliver to BuyerINCLUDING, and the Records shall not be deemed to includeBUT IN NO WAY LIMITED TO, any attorney-client privileged informationANY WARRANTY OF QUANTITY, attorney work product or other materials Seller is otherwise prohibited by law from providing. Posting of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used hereinQUALITY, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reasonCONDITION, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection with the Property or the transactions described in this AgreementHABITABILITY, MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY, ANY IMPROVEMENTS LOCATED THEREON OR ANY SOIL CONDITIONS RELATED THERETO.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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Buyer’s Investigation. 4.11.1 Buyer acknowledges that Buyer has had made a full and complete investigation and inspection of the opportunity Property prior to inspectexecuting this Agreement, review andand is thoroughly acquainted with its status and condition. Buyer acknowledges that neither Seller nor anyone acting, in or purporting to act, on behalf of Seller has made, and Seller hereby expressly disclaims, any representations, warranties or guarantees with respect to the Property, its sole physical condition; its acreage; its livestock carrying capacity; its crop production capacity; its water rights (including but not limited to the quantity, quality or sufficiency of water used on the Property, or the status of any claims to, or permits or certificates for, water rights relating to the Property); the square footage of the dwelling and absolute discretion, approve any other buildings on the physical condition and acreage Property; its prior use; the status of any lease; the state of repair or maintenance of the Property; the income received by Seller from the Property; the costs and expenses for the operation or maintenance of the Property; the compliance of the Property or its operation with any applicable codes, entitlementslaws, feesregulations, exactionsstatutes, ordinances, covenants, conditions and restrictions; the existence of soil instability or susceptibility to landslides; whether the Real Property is located wholly or partially in any flood plain or flood hazard boundary or similar area; the potential for, and limitations on, further development of the Real Property; the presence of any hazardous or toxic material or substances or mold or any mold-like substance on, in, under or about the Property or any nearby property; any matters involved with or pertaining to Carlton Creek Irrigation Company or the Maclay-Lolo Ditch; or any other matter concerning the Property. BUYER AGREES TO ACCEPT THE PROPERTY “AS IS” AND IN ITS PRESENT CONDITION AND STATE OF REPAIR, AND ACKNOWLEDGES THAT SELLER IS MAKING NO WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE STATUS OR CONDITION OF THE PROPERTY EXCEPT AS SPECIFICALLY STATED IN THIS AGREEMENT. Buyer hereby waives its right to recover from the Seller, its officers, directors, agents, employees, managers, members, shareholders, affiliates and other parties with any direct or indirect ownership in Seller (collectively, the environmental“Seller-Related Parties”), geological and seismic forever releases, covenants not to xxx, and discharges the Seller-Related Parties from any and all damages, demands, claims, losses, liabilities, penalties, fines, liens, judgments, costs or expenses whatsoever, including attorney and paralegal fees and costs, whether direct or indirect, known or unknown, foreseen or unforeseen, that may arise on account of or in any way be connected with the status or physical condition of the Property, zoning and other restrictionsincluding, economic and feasibility studies, the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records and such other matters as Buyer has deemed appropriate for its acquisition, development and use of the Property (collectively, the “Investigation”). Subject to the satisfaction of the conditions precedent to Buyer’s obligation to buy the Property set forth in Section 4.9, Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 of the Original Agreement. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access but not limited to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreements, documents, permits and entitlements relating to the Property and its improvements and development dated as of and subsequent to May 15, 1996 (collectively, the “Records”) in Seller’s Possession (as hereinafter defined), without any warranties or representations presence of any kind (except as otherwise provided in hazardous or toxic materials or substances on, in, under or about the Property. The provisions of this Agreement) Section shall survive closing or recourse against Seller, it being acknowledged by Buyer that such information is being provided only as an accommodation to Buyer. Notwithstanding anything to the contrary herein, Seller has not delivered and shall not deliver to Buyer, and the Records shall not be deemed to include, any attorney-client privileged information, attorney work product or other materials Seller is otherwise prohibited by law from providing. Posting termination of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used herein, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reason, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection with the Property or the transactions described in this Agreement.

Appears in 1 contract

Samples: Sale and Purchase Agreement

Buyer’s Investigation. 4.11.1 (a) Buyer has had acknowledges that Seller, or Seller's predecessor, acquired the opportunity to inspect, review Property through foreclosure or deed in lieu of foreclosure and, except as explicitly set forth herein, there are no representations or warranties of any kind whatsoever, express or implied, made by Seller in its sole and absolute discretionconnection with this Agreement, approve the purchase of the Property by Buyer, the Leases or Contracts, the physical condition of the Property or whether the Property complies with applicable laws or is appropriate for Buyer's intended use; (b) On or prior to the Decision Date, Buyer will have (or will have chosen not to have) fully investigated the Property (including the Leases and acreage Contracts) and all matters pertaining thereto; (c) Except as set forth expressly in this Agreement (including the Schedules attached hereto) Buyer is not relying on any statement or representation of Seller, its agents or its representatives nor on any information supplied by Seller, its agents or its representatives; (d) Buyer, in entering into this Agreement and in completing its purchase of the Property, entitlementsis relying entirely on its own investigation of the Property based on its extensive experience in and knowledge of real property in the areas where the Property is located; (e) On or prior to the Decision Date Buyer will be aware (or will have chosen not to be aware) of all zoning regulations, feesother governmental requirements, exactionslegal, site and physical conditions, and other matters affecting the environmental, geological use and seismic condition of the Property; (f) Buyer's decision, zoning on or prior to the Decision Date, of whether to purchase the Property on the terms and other restrictionsconditions hereof shall be made solely and exclusively in reliance on Buyer's own review, economic inspection and feasibility studies, the Other Leases, the Contracts, the Personal Property, budgets, operating statements, the Records and such other matters as Buyer has deemed appropriate for its acquisition, development and use investigation of the Property (collectivelyincluding the Leases and Contracts) and of materials, the “Investigation”). Subject documents, information and studies relating to the satisfaction Property (including, without limitation, Buyer's Inspection or Physical Testing) and the representations and warranties of the conditions precedent to Buyer’s obligation to buy the Property Seller set forth in Section 4.9, 4.1 above; and (g) Buyer has waived Buyer’s right to terminate this Agreement pursuant to Section 4.11.1 shall purchase the Property in its "as is" condition as of the Original Agreementdate of Closing. 4.11.2 Notwithstanding completion of the Investigation, Seller shall use reasonable efforts to continue to provide Buyer with copies of, or access to, the Other Leases, the Contracts, all tests, surveys, maps, plans, records, studies, reports, appraisals, budgets, operating statements, rent rolls, Property records, agreements, documents, permits and entitlements relating to the Property and its improvements and development dated as of and subsequent to May 15, 1996 (collectively, the “Records”) in Seller’s Possession (as hereinafter defined), without any warranties or representations of any kind (except as otherwise provided in this Agreement) or recourse against Seller, it being acknowledged by Buyer that such information is being provided only as an accommodation to Buyer. Notwithstanding anything to the contrary herein, Seller has not delivered and shall not deliver to Buyer, and the Records shall not be deemed to include, any attorney-client privileged information, attorney work product or other materials Seller is otherwise prohibited by law from providing. Posting of Records to an online data room to which Buyer has access shall be an acceptable means (but not the exclusive means) of providing Buyer with access to the Records. As used herein, the term “Possession” shall mean in the actual physical possession of Seller. If this Agreement terminates for any reason, then Buyer shall within seven (7) business days after termination return to Seller all originals and copies of all Records provided by Seller or its representatives to Buyer or Buyer’s representatives in connection with the Property or the transactions described in this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Arden Realty Inc)

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