Common use of Due Diligence Inspection and Feasibility Clause in Contracts

Due Diligence Inspection and Feasibility. Buyer’s purchase of the Property is expressly contingent upon Buyer’s review and approval, in Buyer’s sole and absolute discretion, that the Property is suitable for Buyer’s intended use, including geotechnical analyses and environmental inspection and assessment pursuant to Section 5.1.1 below (“Due Diligence Contingency”). If Buyer is not satisfied with the condition of the Property, its inspection and testing pursuant to Section 5.1.1. below, Buyer may terminate this Agreement by delivering written notice of termination to Seller within three hundred and thirty (330) days after the Effective Date (“Due Diligence Period”). In such event this Agreement shall terminate, and the Parties shall have no further obligations hereunder. Absent Buyer’s timely delivery of such termination notice, the Due Diligence Contingency shall be deemed waived by Buyer and the Parties shall proceed to Closing, subject to all terms and conditions of this Agreement.

Due Diligence Inspection and Feasibility. BuyerXxxxx’s purchase of the Property is expressly contingent upon Buyer’s review and approval, in BuyerXxxxx’s sole and absolute discretion, that the Property is suitable for Buyer’s intended use, including geotechnical analyses and environmental inspection and assessment pursuant to Section 5.1.1 below (“Due Diligence Contingency”). If Buyer is not satisfied with the condition of the Property, its inspection and testing pursuant to Section 5.1.1. below, Buyer may terminate this Agreement by delivering written notice of termination to Seller within three hundred and thirty (330) days after the Effective Date (“Due Diligence Period”). In such event this Agreement shall terminate, and the Parties shall have no further obligations hereunder. Absent Buyer’s timely delivery of such termination notice, the Due Diligence Contingency shall be deemed waived by Buyer and the Parties shall proceed to Closing, subject to all terms and conditions of this Agreement.