ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. (b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 4 contracts
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc), Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc), Agreement of Sale and Purchase (Preferred Apartment Communities Inc)
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or Inspection Period, Seller shall make the termination of this AgreementProperty available for inspection by Purchaser, Purchaser’s employees, agents and contractors, during normal business hours and at such other times upon reasonable notice. During the Inspection Period, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments may undertake a complete physical inspection of the Property as Purchaser deems necessaryappropriate. In addition, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment review any files maintained by Seller or its property manager relating to the extent the same is to be completed by a reputableconstruction, bonded and insured consultant licensed in the State in which operation, leasing, maintenance and/or management of the Property including, without limitation, appraisals, permits and approvals, rent rolls, financial and operating statements, environmental audits, inspection reports and studies, structural engineering studies, environmental studies (including soil surveys), Service Contracts, plans and specifications, lease files, operating agreements and bills, invoices, receipts and other records relating to the income and expenses of the Property, and to conduct such investigations, tests, surveys and other analyses as Purchaser determines is located carrying necessary including, without limitation, entry into or upon any space within the insurance required under Section 5.3 below; providedPremises. All such inspections, however, that no invasive testing or sampling investigations and examinations shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Sellerundertaken at Purchaser’s sole cost and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposalexpense. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right option of having one of Seller’s representatives present at any and all on-site inspections. After completing any inspections, Purchaser shall restore and repair any damage caused by Purchaser’s inspections to participate substantially the same condition that existed immediately prior to such inspection. Purchaser shall not be responsible for any loss, claim or damage to the Property or to any person related to any environmental or other condition or issue which existed prior to Purchaser’s inspection or to the existence of any hazardous materials or substances which are discovered during Purchaser’s inspection. Purchaser agrees to use commercially reasonable efforts to not unreasonably disrupt the business operations of any of the Tenants during its inspections under this Section 4.2. Seller shall deliver the following items to Purchaser within ten (10) days after the Effective Date (the “Due Diligence Materials”): all information, drawings, permits, correspondence and reports relating to the Property; all boundary surveys, as-built surveys and maps pertaining to the Property; all restrictive covenants, conditions or restrictions imposed on or benefitting the Property; all engineering data, drawings, plan specifications, site plans and architectural renderings relating to the Property; all book and records of any retailers association pertaining to the Property; all environmental studies, surveys, soil tests, audits, reports and other information relating to the Property including, but not limited to, information pertaining to jurisdictional wetlands, environmental soil conditions or subsurface conditions of the Property; a current rent roll; the Leases and Guaranties; all estoppel certificates and subordination or non-disturbance agreements executed by any Tenant with respect to a Lease; financial operating reports and income and expense statements for the Property for the last three (3) years; ad valorem and personal property tax bills for the Property for the last three (3) years; all utility bills for the Property for the most recent month and the six (6) months prior thereto; a list of onsite staff for the Property; all Service Contracts; each ALTA Owner’s Policy of Title Insurance obtained by Seller with respect to the Premises or any part thereof; all mold or moisture reports or plans; Seller’s policy of property and casualty insurance applicable to the Property; and names and addresses of all consultants and engineers retained by Seller to study the Property. Seller shall make available to Purchaser such other documentation as reasonably requested at the Property or Seller’s office. Seller shall cooperate with Purchaser in any its due diligence review and investigation of the Property and shall direct its employees, agents and management company to cooperate with Purchaser in such communicationsreview and investigation.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Karat Packaging Inc.), Purchase and Sale Agreement (Karat Packaging Inc.), Purchase and Sale Agreement (Karat Packaging Inc.)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this AgreementUpon reasonable, Purchaser and its agentsadvance notice to Landlord, representatives, contractors and consultants Tenant shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) have the right to enter upon the Real Property Premises prior to the Delivery Date for purposes of: (i) inspecting Landlord’s Work and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property Premises; and communicate with Tenants (ii) taking measurements and service providersspace planning; provided, however, Purchaser provided Tenant shall not have materially interfere with the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller completion of Landlord’s Work. In addition, Tenant shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice enter the Premises following substantial completion of the intention MHE Improvements for purposes of Purchaser or storing, installing, and testing Tenant’s MHE Installations. Landlord shall make commercially reasonable efforts to coordinate the other Licensee Parties to enter construction of Landlord’s Work following substantial completion of the Real Property or MHE Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail Tenant in order to allow Tenant the ability to install and test Tenant’s MHE Installations; provided, that (i) Tenant is required to carry its own insurance liability insurance and property insurance in accordance with Section 11.01, (ii) Tenant must comply with Landlord’s reasonable safety and security precautions so long as Landlord has furnished a written copy thereof and such Seller a precautions do not materially increase Tenant’s obligations or materially decrease its rights hereunder or materially impair its ability to install Tenant’s MHE Installations, and (iii) Tenant must use commercially reasonable opportunity efforts to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject maintain labor harmony on site to the obligations set forth extent reasonably requested, in Section 5.3 belowwriting and in advance, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose by Landlord in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities such early entry and the applicable Seller installation and testing of Tenant’s MHE Installations. If any of Tenant’s MHE Installations are damaged by Landlord or its agents, employees, contractors or representatives prior to the Delivery Date, Landlord shall have promptly notify Tenant of such damage and Landlord shall cause such damage to be repaired, in a manner reasonably acceptable to Tenant. At all times during Tenant’s use or occupancy of the right Premises prior to participate in any the Delivery Date, Tenant shall coordinate its activities with Landlord and Landlord’s contractors and shall provide, prior to such communicationsuse or occupancy, all required insurance certificates requested by Landlord to evidence the insurance that Tenant is required to maintain hereunder. Landlord shall pay, prior to the Delivery Date, all impact fees, traffic mitigation fees, highway fees, signage fees, parking fees, tap fees, utility connection charges, and utility capacity charges related to the development of the Premises (including, but not limited to, Landlord’s Work) or the occupancy thereof.
Appears in 2 contracts
Samples: Lease Agreement (American Outdoor Brands, Inc.), Lease Agreement (American Outdoor Brands Corp)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for at all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) reasonable times have the right to enter upon the Real Property Premises to inspect them, to supply services in accordance with this Lease, to make repairs and Improvements at all reasonable timesrenovations as reasonably deemed necessary by Landlord, and to submit the Premises to prospective or actual purchasers or encumbrance holders (or, during normal business hoursthe final twelve months of the Term or when an uncured Default exists, to perform inspections prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. If reasonably necessary, Landlord may temporarily close all or a portion of the Property Premises (other than the clean room and communicate lab except with Tenants Tenant’s consent or in the event of an emergency posing a serious, imminent threat of property damage or bodily injury) to perform repairs, alterations and service providers; providedadditions permitted or required to be made by Landlord hereunder. Except in emergencies or to provide Building services. Landlord shall provide Tenant with reasonable (and in any event at least 24 hours) advance written or verbal notice of entry and shall use reasonable efforts to minimize any interference with Tenant’s use of the Premises. Except as specifically provided otherwise in this Section, entry by Landlord shall not constitute a constructive eviction or entitle Tenant to an abatement or reduction of Rent. If Landlord temporarily closes the Premises as provided above for a period in excess of 5 consecutive day(s), Tenant, as its sole remedy, shall be entitled to receive a per diem abatement of Basic Rent during the period beginning on the 6th consecutive day of closure and ending on the date on which the Premises are returned to Tenant in a tenantable condition. Tenant, however, Purchaser shall not have be entitled to an abatement if the right repairs, alterations and/or additions to interview Tenants unless interviews be performed are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice required as a result of the intention negligence or willful misconduct of Purchaser Tenant, its agents, employees or contractors or a Default by Tenant in its maintenance and repair obligations under the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenLease.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 2 contracts
Samples: Lease (Inari Medical, Inc.), Lease (Inari Medical, Inc.)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 2 contracts
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc), Sale and Purchase Agreement (Preferred Apartment Communities Inc)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser 18.1 Landlord and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized Landlord's agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate enter into and upon the Premises at all reasonable times for the purpose of inspecting the Premises; performing Landlord's maintenance and repair obligations under this Lease; maintaining or making repairs, alterations, or additions to any other portion of the Building, including the erection and maintenance of such scaffolding, canopy, fences and props as may be required; posting notices of nonliability for alterations, additions or repairs, or of the availability of the Premises for lease or sale; or exhibiting the Premises to potential tenants, lenders or purchasers. Tenant shall permit Landlord, at any time within one hundred fifty (150) days prior to the expiration of the Lease Term, to place upon the Premises any usual or ordinary "For Lease" signs.
18.2 If Tenant shall not be personally present to open and permit an entry into said Premises, at any time, when for any reason an entry therein shall be necessary, Landlord or Landlord's agents and contractors may use a master key to enter, without rendering Landlord or such agents liable therefor, and without in any such interviewsmanner affecting the obligations and covenants of this Lease. Purchaser will provide Landlord shall be permitted to Sellers written notice take any action under this Article without any abatement of rent and without any liability to Tenant for any loss of occupancy or quiet enjoyment of the intention Premises thereby occasioned, nor shall such action by Landlord be deemed an actual or constructive eviction.
18.3 Landlord or its agents shall not be liable for (i) any damage to any property entrusted to employees of Purchaser the Building or Project; (ii) loss or damage to any property by theft or otherwise; (iii) any injury or damage to persons or property resulting from fire, explosion, falling plaster, steam, gas, electricity, water or rain which may leak from any part of the Building or from the pipes, appliances, or plumbing work therein or from the roof, street, or subsurface or from any other Licensee Parties to enter the Real Property place or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to resulting from dampness or any other cause whatsoever. Landlord or its agents shall not be made. At the applicable Seller’s optionliable for interference with light or other incorporeal hereditaments, such Seller may nor shall Landlord be present liable for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed latent defect in the State Premises or in which the Property is located carrying Building. Tenant shall give prompt notice to Landlord in case of fire or accidents in the insurance required under Section 5.3 below; provided, however, that no invasive testing Premises or sampling shall be conducted during any such entry by Purchaser in the Building or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed of defects therein or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser fixtures or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenequipment.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 2 contracts
Samples: Lease Agreement (Globalnet Financial Com Inc), Lease Agreement (Globalnet Financial Com Inc)
ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct conducted such tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s 's acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “"Licensee Parties”") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party will communicate. At the applicable Seller’s 's option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s 's sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller at least forty-eight (48) 24 hours prior written notice of Purchaser’s 's intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 2 contracts
Samples: Agreement of Sale and Purchase (Maguire Properties Inc), Agreement of Sale and Purchase (Maguire Properties Inc)
ENTRY AND INSPECTION. (a) Through Until the earlier of Closing or the termination of this AgreementDate, Purchaser and its agents, representativesemployees, contractors contractors, and consultants shall inspect and investigate be allowed full access to the Property and shall conduct such for the purpose of conducting surveys, tests, evaluations and assessments of inspections on the Property Property, and other investigations as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of during both the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowfeasibility and/or platting process; provided, however, that no Purchaser shall not undertake a phase II environmental site assessment or any other invasive testing or sampling without prior notice to Seller. Such entry and inspection shall be conducted during any subject to the following terms and conditions:
A. Purchaser shall give Seller 48-hours’ written advance notice of such entry and shall conduct such entry and any inspections in connection therewith so as to reasonably minimize interference with Seller’s business on the Property.
B. The results of all soil tests, surveys, phase I environmental site assessments, and other investigations of the Property undertaken by Purchaser shall not be disclosed to any third party or any Licensee Party upon the Real Property governmental entity without the applicable Seller’s specific prior written consentconsent of Seller, which consent may be withheld, delayed unless such disclosure is required by law or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose is required in connection with this transaction contemplated by this Agreementobtaining any necessary permits or approvals; provided, however, that Purchaser shall be permitted to disclose such results to its design professionals, consultants, attorneys, and potential lenders and investors, provided that such parties have been advised of the foregoing confidentiality obligation.
C. Purchaser shall indemnify, defend and hold Seller harmless from and against any claims, damages or liability (including reasonable attorneys’ fees), and be responsible for any damage, repair and restoration of the Property affected by Purchaser’s entry, access provided to others, inspections or invasive testing, or any other matter related to Purchaser’s due diligence conducted on site. In the event Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior by written notice of to Seller, cancels this Agreement, Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in access the Property shall terminate.
D. If this Agreement is terminated by either party, Purchaser shall deliver to Seller true copies of any such communicationsreports, recommendations, surveys, title commitments, plans or similar matters that Purchaser receives from environmental consultants, civil and other engineers, surveyors, appraisers, geologists and other third-party experts with whom Purchaser has contracted within five (5) days after the termination date.
Appears in 1 contract
Samples: Purchase and Sale Agreement
ENTRY AND INSPECTION. (a) Through Until the earlier of Closing or the termination of this AgreementDate, Purchaser and its agents, representativesemployees, contractors contractors, and consultants shall inspect and investigate be allowed full access to the Property and shall conduct such for the purpose of conducting surveys, tests, evaluations and assessments of inspections on the Property Property, and other investigations as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of during both the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowfeasibility and/or platting process; provided, however, that no Purchaser shall not undertake a phase II environmental site assessment or any other invasive testing or sampling without prior notice to Seller. Such entry and inspection shall be conducted during any subject to the following terms and conditions:
A. Purchaser shall give Seller 48-hours’ written advance notice of such entry and shall conduct such entry and any inspections in connection therewith so as to reasonably minimize interference with Seller’s business on the Property.
B. The results of all soil tests, surveys, phase I environmental site assessments, and other investigations of the Property undertaken by Purchaser shall not be disclosed to any third party or any Licensee Party upon the Real Property governmental entity without the applicable Seller’s specific prior written consentconsent of Seller, which consent may be withheld, delayed unless such disclosure is required by law or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose is required in connection with this transaction contemplated by this Agreementobtaining any necessary permits or approvals; provided, however, that Purchaser shall be permitted to disclose such results to its design professionals, consultants, attorneys, and potential lenders and investors, provided that such parties have been advised of the foregoing confidentiality obligation.
X. Xxxxxxxxx shall indemnify, defend and hold Seller harmless from and against any claims, damages or liability (including reasonable attorneys’ fees), and be responsible for any damage, repair and restoration of the Property affected by Purchaser’s entry, access provided to others, inspections or invasive testing, or any other matter related to Purchaser’s due diligence conducted on site. In the event Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior by written notice of to Seller, cancels this Agreement, Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in access the Property shall terminate.
D. If this Agreement is terminated by either party, Purchaser shall deliver to Seller true copies of any such communicationsreports, recommendations, surveys, title commitments, plans or similar matters that Xxxxxxxxx receives from environmental consultants, civil and other engineers, surveyors, appraisers, geologists and other third-party experts with whom Xxxxxxxxx has contracted within five (5) days after the termination date.
Appears in 1 contract
Samples: Purchase and Sale Agreement
ENTRY AND INSPECTION. (a) Through From and after the earlier of Closing or the termination of this AgreementEffective Date, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”"LICENSEE PARTIES") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 48 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party will communicate. At the applicable Seller’s 's option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s 's sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this the transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight Agreement (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in so long as any such communicationscommunications made during the Inspection Period are conducted without disclosing that a sale of the Property is contemplated).
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Behringer Harvard Reit I Inc)
ENTRY AND INSPECTION. Tenant will permit Landlord and its agents at all reasonable times during normal business hours and at any time in case of emergency, in such manner as to cause as little disturbance to Tenant as reasonably practicable, (ai) Through to enter into and upon the earlier Premises for the purpose of Closing inspecting the same, or for the termination purpose of protecting the interest therein of Landlord, and (ii) to take all required materials and equipment into the Premises, and perform all required work therein, including the erection of scaffolding, props, or other mechanical devices, for the purpose of making alterations, repairs or additions to the Premises or to any other portion of the Building in which the Premises are situated as may be provided for by this AgreementLease or as may be mutually agreed upon by the parties or as Landlord may be required to make by law or for maintaining, Purchaser any service provided by Landlord to Tenant hereunder, including window cleaning and janitor service, without any rebate of rent to Tenant for any loss of occupancy or quiet enjoyment of the Premises, or damage, injury or inconvenience thereby occasioned. Tenant shall also permit Landlord and its agents, representativesupon request, contractors and consultants shall inspect and investigate to enter and/or pass through the Property and shall conduct such testsPremises or any part thereof, evaluations and assessments at reasonable times during normal business hours to show the Premises to holders of encumbrances on the interest of Landlord under the Lease, or prospective purchasers, mortgagees or lessees of the Property Building as Purchaser deems necessaryan entirety, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition during the period of the Property and the consummation of the transaction contemplated by this Agreement. Subject six (6) months prior to the provisions expiration date of this Section 5.1 and subject Lease, Landlord may exhibit the Premises to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) prospective tenants. Landlord shall also have the right to enter upon on and/or pass through the Real Property and Improvements Premises, or any part thereof, at all reasonable times, during normal business hours, to perform inspections such times as such entry shall be required by circumstances of emergency affecting the Premises or any other portion of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State Building in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposalPremises are located. If Purchaser or during the other Licensee Parties undertake any borings or other disturbances last month of the soilterm hereof Tenant shall have removed substantially all of Tenant's property and personnel from the Premises, Landlord may enter the soil Premises and repair, alter and redecorate the same, without abatement of rent and without liability to Tenant, and such acts shall be recompacted have no effect on this Lease. Notwithstanding the foregoing, Xxxxxx may refuse entry of any person into Tenant's fabrication area during hours of operation and may restrict access to its condition as existed immediately before secure areas at any such borings time, except that Tenant shall admit persons absolutely necessary in the event of an emergency or other disturbances were undertaken.
(b) Subject to prevent further damage to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsPremises.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementInspection Period, Purchaser and its agents, representatives, contractors and consultants Seller shall inspect and investigate make the Property and shall conduct such testsall documents, evaluations permits, books, and assessments records pertaining to the property in Sellers possession, available for inspection by Purchaser. During the Inspection Period, Purchaser may, at Purchaser’s sole risk and expense, undertake, or cause to be undertaken on behalf of Purchaser, a complete physical inspection, review and examination of the Property as Purchaser deems necessaryappropriate, appropriate or prudent in any respect including but not limited to soil/groundwater tests and for all purposes in connection with Purchaser’s acquisition of the Property environmental assessments and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives audits (collectively, the “Licensee PartiesProperty Inspections”) the right to enter upon the Real Property and Improvements at all reasonable times), during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling any Property Inspections do not cause any permanent damage to the Property. All such Property Inspections shall be conducted undertaken at Purchaser’s sole cost and expense. Additionally, during the Inspection Period, the Purchaser shall seek written approval from its intended user and/or franchisor for the Property. Purchaser will coordinate all on-site inspections with Seller and Seller agrees to reasonably cooperate with Purchaser, including without limitation making Seller and any such entry of Seller’s representatives that are familiar with the Property and its present and past uses available for interview by Purchaser or Purchaser’s agent. After completing any Licensee Party inspections, Purchaser shall restore and repair any damage caused by Purchaser’s inspections. The Purchaser shall, upon completion of Purchaser’s Inspection Period, return the Property to its existing condition, restore and repair any damage caused by any Property Inspections, and shall indemnify and hold the Seller harmless from any damages whatsoever that result in any way from the Purchaser’s Property Inspections. Additionally, during the Inspection Period, the Seller and Purchaser shall negotiate a declaration of covenants, conditions, easements and restrictions that shall run with and be binding upon the Real Property without the applicable Seller’s specific prior written consentand that, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for informationpart, shall provide Sellers at least forty-eight (48) hours prior written notice of the easements reasonably determined by Purchaser to be necessary for Purchaser’s intention Intended Use of the Property, including, without limitation, cross parking, ingress and egress, utilities (including an easement to communicate with any Authorities Purchaser for access, parking, utilities and other necessary uses over, under and across the parcel that Seller is retaining for its existing marquee sign at the intersection of Xxxxx Boulevard and Lime Street and the applicable five foot parcel retained just south of the Property) and/or stormwater management (the “Declaration”). The Declaration shall include a provision that Purchaser shall submit all proposed architectural designs and plans to Seller shall have for review and approval, which approval may not be unreasonably withheld, conditioned or delayed, prior to the right to participate in submittal of any such communicationsplans to the City of Lakeland or other permitting or review agency (the “Plan Review Requirement”). The parties have agreed that the site and construction plans shall, unless otherwise agreed in writing between the parties, reflect a pedestrian crosswalk constructed of pavers and sidewalk crossing signs and lights at the intersection of Lime Street and West Orange Street (collectively, the “Pedestrian Crossing Improvements”). The Pedestrian Crossing Improvements, including, without limitation, the design, materials and signage, shall be similar to other pedestrian crossing improvements constructed by the City within the City of Lakeland and shall be subject to the City’s written approval, which approval may not be unreasonably withheld, conditioned or delayed. The Purchaser shall be responsible for the costs of the Pedestrian Crossing Improvements not to exceed $75,000.00. The purpose of the Plan Review Requirement is to assure that the orientation and design of the proposed building, site design, and landscape plan are all compatible with the adjacent City of Lakeland RP Funding Center. The Declaration shall be signed at Closing and recorded by the Title Company with the other closing documents.
Appears in 1 contract
Samples: Purchase and Sale Agreement
ENTRY AND INSPECTION. (a) Through From the earlier of Closing or the termination of this AgreementEffective Date until Closing, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property Properties and shall conduct such tests, evaluations and assessments of the Property Properties as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property Properties and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the each Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property Properties and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller Sellers and the applicable Seller Sellers shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the each Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s Sellers’ option, such Seller Sellers may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located of California carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or DAL02:624104.4 LEGAL_US_W # 74790953.14 14 sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the each Real Property without the applicable Seller’s Sellers’ specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s Sellers’ sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller Sellers shall be provided with a written sampling plan in reasonable detail in order to allow such Seller Sellers a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long such communications can be conducted without disclosing that a sale of the Properties is contemplated); provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller Sellers shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementInspection Period, Purchaser and its agents, representatives, contractors and consultants Seller shall inspect and investigate make the Property and shall conduct such testsall documents, evaluations permits, books, and assessments records pertaining to the property in Sellers possession, available for inspection by Purchaser. During the Inspection Period, Purchaser may, at Purchaser’s sole risk and expense, undertake, or cause to be undertaken on behalf of Purchaser, a complete physical inspection, review and examination of the Property as Purchaser deems necessaryappropriate, appropriate or prudent in any respect including but not limited to soil/groundwater tests and for all purposes in connection with Purchaser’s acquisition of the Property environmental assessments and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives audits (collectively, the “Licensee PartiesProperty Inspections”) the right to enter upon the Real Property and Improvements at all reasonable times), during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling any Property Inspections do not cause any permanent damage to the Property. All such Property Inspections shall be conducted undertaken at Purchaser’s sole cost and expense. Additionally, during the Inspection Period, the Purchaser shall seek written approval from its intended user and/or franchisor for the Property. Purchaser will coordinate all on-site inspections with Seller and Seller agrees to reasonably cooperate with Purchaser, including without limitation making Seller and any such entry of Seller’s representatives that are familiar with the Property and its present and past uses available for interview by Purchaser or Purchaser’s agent. After completing any Licensee Party inspections, Purchaser shall restore and repair any damage caused by Purchaser’s inspections. The Purchaser shall, upon completion of Purchaser’s Inspection Period, return the Property to its existing condition, restore and repair any damage caused by any Property Inspections, and shall indemnify and hold the Seller harmless from any damages whatsoever that result in any way from the Purchaser’s Property Inspections. Additionally, during the Inspection Period, the Seller and Purchaser shall negotiate a declaration of covenants, conditions, easements and restrictions that shall run with and be binding upon the Real Property without the applicable Seller’s specific prior written consentand that, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for informationpart, shall provide Sellers at least forty-eight (48) hours prior written notice of the easements reasonably determined by Purchaser to be necessary for Purchaser’s intention Intended Use of the Property, including, without limitation, cross parking, ingress and egress, utilities and/or stormwater management (the “Declaration”). The Declaration shall include a provision that Purchaser shall submit all proposed architectural designs and plans to communicate with any Authorities Seller for review and approval, which approval may not be unreasonably withheld, conditioned or delayed, prior to the applicable Seller shall have the right to participate in submittal of any such communicationsplans to the City of Lakeland or other permitting or review agency (the “Plan Review Requirement”). The purpose of the Plan Review Requirement is to assure that the orientation and design of the proposed building, site design, and landscape plan are all compatible with the adjacent City of Lakeland RP Funding Center. The Declaration shall be signed at Closing and recorded by the Title Company with the other closing documents.
Appears in 1 contract
Samples: Purchase and Sale Agreement
ENTRY AND INSPECTION. Upon prior written notice (aincluding without limitation notice by facsimile transmission). Tenant will permit Landlord and its agents (which may be accompanied by Tenant's personnel at Tenant's discretion) Through at all reasonable times during normal business hours and at any time in case of emergency (without notice or escort requirements), in such manner as to cause as little disturbance to Tenant as reasonably practicable, to enter into and upon the earlier Premises for the purpose of Closing inspecting the same or for the termination purpose of protecting the interest therein of Landlord, and to take all required materials and equipment into the Premises, and perform all required work therein, including the erection of scaffolding, props, or other mechanical devices, for the purpose of making alterations, repairs or additions to the Premises or to any other portion of the Building in which the Premises are situated as may be provided for by this Lease or as may be mutually agreed upon by the parties or as Landlord may be required to make by law or for maintaining any service provided by Landlord to Tenant hereunder without any rebate of Rent to Tenant for any loss of occupancy or quiet enjoyment of the Premises, or damage, injury or inconvenience thereby occasioned (unless caused by Landlord's gross negligence, but in no event shall Landlord be liable for consequential or punitive damages). Tenant shall also permit Landlord and its agents (which may be accompanied by Tenant's personnel at Tenant's discretion), upon prior notice and, to enter or pass through the Premises or any part thereof, at reasonable times during normal business hours to show the Premises to holders of encumbrances on the interest of Landlord under the Lease, or prospective purchasers, or mortgagees of the Building, and during the period of six (6) months prior to the expiration date of this AgreementLease, Purchaser and its agents, representatives, contractors and consultants Landlord may exhibit the Premises to prospective tenants. Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) also have the right to enter upon on or pass through the Real Property and Improvements Premises, or any part thereof, at all reasonable times, during normal business hours, to perform inspections such times as such entry shall be required by circumstances of emergency affecting the Premises or any other portion of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State Building in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposalPremises are located. If Purchaser or during the other Licensee Parties undertake any borings or other disturbances last month of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties Term hereof Tenant shall have removed substantially all of Tenant's property and personnel from the right Premises, Landlord may enter the Premises and repair, alter and redecorate the same, without abatement of Rent and without liability to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; providedTenant, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller such acts shall have the right to participate in any such communicationsno effect on this Lease.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through From and after the earlier of Closing or Effective Date, but subject to the termination terms and provisions of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsProperty. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect entry or inspection. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing testing, boring or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such . Seller shall be provided have the right to require Purchaser to provide Seller with a written sampling testing plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this the transaction contemplated by this AgreementAgreement (so long as such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Allegiant Travel CO)
ENTRY AND INSPECTION. (a) Through Purchaser shall have from the earlier Effective Date through and including 5:00 p.m. Central Time on the date which is twenty-one (21) calendar days following the Effective Date (as the same may be extended by mutual agreement of Closing or Seller and Purchaser in writing, the termination of this Agreement“Inspection Period”) to examine, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property in accordance with the terms and shall conduct such tests, evaluations conditions of this Article V and assessments to determine whether the Property is acceptable to Purchaser (in Purchaser’s sole and absolute judgment and discretion) and obtain all necessary internal approvals to consummate the purchase of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by pursuant to this Agreement. Subject Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement by giving written notice of termination to Seller (the “Termination Notice”) on or before the expiration of the Inspection Period. If Purchaser does not give a Termination Notice, this Agreement shall continue in full force and effect. If this Agreement terminates pursuant to this Section 5.1(a), the Independent Consideration shall be paid to Seller and the Xxxxxxx Money Deposit shall be refunded to Purchaser immediately upon request of Purchaser, and all further rights and obligations of the parties under this Agreement shall terminate (except for the Termination Surviving Obligations).
(b) From and after the Effective Date and through the end of the Inspection Period, but subject to the other provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 belowArticle V, Sellers Seller will permit Purchaser and its authorized agents agents, representatives and representatives consultants (collectively, the “Licensee Parties”) the right to enter upon the Real Property and or Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview or communicate with Tenants unless without Seller’s prior written consent but only if such interviews or communications are first coordinated through the applicable Seller and Seller shall have the applicable right to participate in any such interviews and communications; and provided, further, however, that Purchaser shall have the right to coordinate interviews with service providers but Purchaser shall not interview service providers unless Purchaser provides 24 hours prior written notice to Seller of the time and place of such interviews and Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 48 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party desires to communicate. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property or Improvements without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. Notwithstanding the foregoing, Purchaser shall not be liable or responsible for (i) the mere discovery of unfavorable conditions existing at or on the Property unless Purchaser’s or any Licensee Party’s actions exacerbate such unfavorable conditions or cause further damage or destruction to the Property; or (ii) any matters caused by the gross negligence or willful misconduct of Seller. If Purchaser or any Licensee Party takes any sample from the Real Property or Improvements in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(bc) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser(i) except for routine due diligence inquiries (e.g., except a zoning letter with respect to routine requests for informationthe Property) or when the communication is to obtain material that is generally available to the public, Purchaser shall provide Sellers Seller at least forty-eight (48) 48 hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationscommunications and (ii) any such communication must be conducted without disclosing any of the terms of this Agreement and in no event shall any Licensee Party make any such disclosure to any Authority.
(d) Purchaser expressly agrees, acknowledges and confirms that, prior to the expiration of the Inspection Period, Purchaser and its Licensee Parties shall have inspected and investigated the Property and conducted such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement, all in accordance with the terms and conditions of this Article V.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (KBS Real Estate Investment Trust II, Inc.)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hoursupon twenty-four (24) hours prior notice to Tenant (except in the case of an emergency) and when accompanied by a representative of Tenant (to the extent Tenant makes a representative available), to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through enter the applicable Seller Premises to inspect them, to supply services in accordance with this Lease, to protect the interests of Landlord in the Premises, to make repairs and renovations as reasonably deemed necessary by Landlord, and to submit the applicable Seller Premises to prospective or actual purchasers or encumbrance holders (or, during the final six months of the Term or when an uncured Tenant default exists, to prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. Landlord shall at all times have and retain a key which unlocks all of the doors in the Premises, excluding Tenant’s vaults and safes, and Landlord shall have the right to participate use any and all means which Landlord may deem proper to open the doors in an emergency in order to obtain entry to the Premises, and any entry to the Premises obtained by Landlord shall not under any circumstances be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or any eviction of Tenant from the Premises. Landlord shall use its commercially reasonable efforts to interfere as little as reasonably practicable with the conduct of Tenant’s business in the Premises and to use reasonable efforts to preserve the confidentiality of information held by Tenant in the Premises. Due to the nature of Tenant’s business and the confidentiality of information related thereto, Tenant shall be entitled to have an employee of Tenant accompany the person(s) entering the Premises, provided Tenant makes such interviews. Purchaser will provide to Sellers written notice of employee available at the intention of Purchaser time Landlord or the such other Licensee Parties party desires to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenPremises.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through the earlier of Closing the expiration of the Property Approval Period or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without Seller’s prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller, Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerProperty. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State state in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long as such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for informationinformation and associated follow-up communication, shall provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or Inspection Period, the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Tower Owners shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives reasonable access to (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours) all of the Tower Assets, and the Tower Owners shall furnish to Purchaser all reports, documents, records and information, including electronic copies thereof, that the Tower Owners have in their possession or can obtain without unreasonable effort or expense as Purchaser may reasonably request, to permit Purchaser to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers its due diligence investigation with respect to the Property owned by such Sellerownership and operation of the Tower Assets. Purchaser shall have may undertake a complete physical inspection of the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowTower Assets; provided, however, that no invasive testing or sampling shall be conducted during any such entry physical inspection shall not result in any damage to the same. Except as otherwise provided herein, no such inspections, investigations or examinations shall unreasonably interfere with the Tower Owners’ business or operations. After completing any physical inspections of the Site and Tower Assets, Purchaser shall restore and repair any damage to the same caused by Purchaser or any Licensee Party upon such inspections to the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that condition existing prior to giving Purchaser’s entry. Purchaser agrees to indemnify and hold the Tower Owners harmless from any such approvaland all costs, such Seller expenses, fees and damages, including reasonable attorney’s fees, related to any claims made against any Tower Owner resulting from the activities of Purchaser in conducting any of the inspections, investigations or examinations of the Tower Assets. This indemnification shall be provided with survive the Closing for a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser period of six (6) months or the other Licensee Parties undertake any borings or other disturbances termination of the soilthis Agreement for a period of one (1) year. In addition, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties Purchaser shall have the right and privilege to communicate directly enter upon any real property leased under a Ground Lease, upon reasonable advance notice to the applicable Tower Owner, to conduct, at Purchaser’s sole expense and risk, Phase I environmental assessment reports. The applicable Tower Owner shall be entitled to have representatives present at the time such site assessments are conducted and to receive copies of all correspondence with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated consultants conducting such assessments. The cost and expense of the inspection by this Agreement; provided, however, Purchaser shall be borne by Purchaser, except with respect . Any inspections shall be arranged at times mutually convenient to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsparties.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (Surewest Communications)
ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct such conducted certain tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications, but if Seller fails to respond to any communication request within 24 hours after such request, Purchaser shall not be required to coordinate such communication with Seller. Purchaser will provide to Sellers written Seller with telephonic notice (by contacting Xxxxx Xxxxxxxxxx at (000) 000-0000) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party will communicate. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to substantially its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller at least forty-eight (48) 24 hours prior written telephonic notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Cb Richard Ellis Realty Trust)
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementDue Diligence Period and continuing until Closing, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized designated agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate go on the Property for the purpose of performing such non-invasive investigations, inspections, analyses, surveys, tests, examinations, and studies as Purchaser deems necessary or desirable in any such interviews. Purchaser will provide to Sellers written notice connection with Purchaser's proposed acquisition of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect subject to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded conditions and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowlimitations set forth herein); provided, however, that no Purchaser shall not undertake a phase II environmental site assessment or any other invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consentconsent of Seller, which consent may shall not be unreasonably withheld, delayed conditioned or conditioned delayed. The results of all soil tests, surveys, phase I environmental site assessments, and other investigations of the Property undertaken by Purchaser shall not be disclosed to any third party or governmental entity without the prior written consent of Seller, unless such disclosure is required by law or is required in connection with obtaining any necessary permits or approvals; provided, however, that Purchaser shall be permitted to disclose such Seller’s sole results to its design professionals, consultants, attorneys, and absolute discretionpotential lenders and investors; and provided, further, that prior to giving any such approval, such Seller parties have been advised of the foregoing confidentiality obligation. Such entry and inspection shall be provided with a written sampling plan in reasonable detail in order subject to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.following terms and conditions:
(ba) Subject Seller may from time to time establish reasonable rules of conduct for Purchaser and Purchaser's Consultants upon the obligations set forth in Section 5.3 belowReal Property, from time to time, to ensure the Licensee Parties safety of all parties upon such property. For purposes of this Agreement, a reference to a party’s “Consultants” shall have the right refer to communicate directly with the Authorities for any good faith reasonable purpose such party’s agents, employees, consultants, inspectors, appraisers, engineers, and contractors engaged in connection with this transaction assessing and consummating the transactions contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationshereby.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview interviews with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementProperty Approval Period, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providersthe Tenant; provided, however, Purchaser shall not have the right to interview Tenants communicate with Tenant unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements or interview the Tenant at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations and Tenant interviews contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerTenant. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no No physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement (so long such communications can be conducted without disclosing the terms of this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications).
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Cole Office & Industrial REIT (CCIT II), Inc.)
ENTRY AND INSPECTION. (a) Through the earlier of the Closing or the termination of this Agreement, subject to the terms of the Tenant Lease and Property Agreements, Purchaser and its authorized agents, representatives, employees, consultants, partners, members and contractors and consultants shall (the “Licensee Parties”) may inspect and investigate the Property and shall the Off-Site Garage (including, without limitation, inspections of all roofs, electrical, mechanical and structural elements, HVAC systems and other building systems located on or within the Improvements and Off-Site Garage) and may conduct such testsnon-invasive tests (including, without limitation, any soil, water and air sampling analysis or other environmental investigations), evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this AgreementProperty. Subject to the provisions of this Section 5.1 5.1, Section 5.2 and subject to the obligations set forth in Section 5.3 below5.3, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) Parties the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property, inspect the books and records of Seller with respect to the Property (and communicate with Tenants to make copies thereof) and service providersinterview the Tenant and the Breaktime Tenant; provided, however, provided Purchaser shall not have the right to interview Tenants communicate with Tenant and the Breaktime Tenant unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsinterviews and communications. Purchaser will provide to Sellers Seller written notice of the (which notice may be e-mail or telephone to Dan Eifexx, xx xxx.eifexx@xxxxx.xxx, xxx (013) 720-0000) xx xxx intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect Tenant. Any soil borings or other invasive tests to the Property owned by such Seller. which Purchaser proposes to perform shall have require the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consentapproval of Seller, which consent approval may be withheld, delayed granted or conditioned withheld in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. Notwithstanding the foregoing, Purchaser may, without Seller’s consent, conduct a Phase I environmental audit of the Property which includes radon and air sampling without further consent or approval from Seller. If Purchaser or the other its Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted re-compacted to its substantially the same condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or its Licensee Parties take any sample from the Property in connection with any testing, Purchaser shall upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing (at Seller’s cost). If the Property or the Off-Site Garage is damaged as a result of Purchaser’s inspections or the actions of any Licensee Parties, Purchaser shall restore the Property or the Off-Site Garage to substantially the same condition as existed immediately prior to such inspections, but in no event later than thirty (30) days after the damage occurs.
(b) Subject to the obligations set forth in Section 5.3 below5.3, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this the transaction contemplated by this Agreement, so long such communications can be conducted without disclosing that a sale of the Property is contemplated; provided, however, PurchaserPurchaser shall, except with respect to routine requests for informationinformation (including, shall without limitation, in connection with the preparation of a so-called Phase I environmental assessment or a so-called “zoning report” with respect to the Property), provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Sale and Purchase Agreement (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. Landlord and its agents may at all reasonable times during normal business hours and at any time in case of emergency, enter upon the Premises for the purposes of (a) Through inspecting the earlier same, and protecting the interest therein of Closing Landlord, and (b) taking all required materials and equipment into the Premises, and performing all work therein which Landlord is required or permitted to perform hereunder, (c) maintaining any service provided by Landlord to Tenant hereunder and (d) posting notices of nonresponsibility, all without rebate of rent to Tenant for any loss of occupancy or quiet enjoyment of the termination of this AgreementPremises, Purchaser or damage, injury or inconvenience thereby occasioned. Landlord and its agentsagents may also enter and/or pass through the Premises, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, to perform inspections show the Premises to holders of encumbrances on the interest of Landlord, to prospective purchasers, mortgagees or lessees of the Property and communicate with Tenants and service providers; providedBuilding. At any time that Landlord enters upon the Premises as allowed above, however, Purchaser Tenant may require that the personnel entering the Premises be accompanied by an agent of Tenant. No security system installed by Tenant shall not have the be allowed to diminish Xxxxxxxx's right to interview Tenants unless interviews are coordinated enter upon the Premises pursuant to this Article 13. During the six (6) months prior to the expiration date of this Lease, Landlord may exhibit the Premises to prospective tenants. Landlord may also enter on and/or pass through the applicable Seller and Premises at such times as shall be required by circumstances of emergency. If during the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice last month of the intention of Purchaser or term hereof Tenant has removed substantially all property and personnel from the other Licensee Parties to Premises, Landlord may enter the Real Property or Improvements at least forty-eight (48) hours prior Premises and repair, alter and redecorate the same, without abatement of rent and without liability to Tenant. In the event of an emergency, if Xxxxxx is not personally present to open the Premises when such intended an entry and specify the intended purpose therefor and the inspections and examinations contemplated by Landlord is permitted, Landlord may enter by means of a master key without liability to be made. At the applicable Seller’s option, such Seller may be present Tenant except for any such entry, inspection and interview with failure to exercise due care for Xxxxxx's property. Nothing contained herein shall constitute an actual or constructive eviction or relieve Tenant of any Tenants and service providers obligation with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablemaking any repair, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; providedreplacement or improvement or complying with any law, however, that no invasive testing order or sampling shall be conducted during requirement of any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings government or other disturbances of the soil, the soil authority. Nothing contained herein shall be recompacted impose upon Landlord any obligation to its condition Tenant except as existed immediately before any such borings or other disturbances were undertakenspecifically provided in this Lease.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Master Building Lease (Filenet Corp)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Tenant shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectivelyLandlord, the “Licensee Parties”) the right Prior Interest Holders and their agents to enter into and upon the Real Property and Improvements Premises at all reasonable timestimes for the purpose of inspecting the same or for the purpose of maintaining the building in which the Premises are located, or for the purpose of making repairs, alterations or additions to any other portion of said building, including the erection and maintenance of such scaffolding, canopies, fences and props as may be required, or for the purpose of posting notices of non-responsibility for alterations, additions or repairs of Tenant, or for the purpose of placing upon the property in which the Premises are located any usual or ordinary “For Sale” signs. Landlord and the Prior Interest Holders shall be permitted to do any of the above without any rebate of rent and without any liability to Tenant for any loss of occupation or quiet enjoyment of the Premises thereby occasioned. Tenant shall permit Landlord, at any time within ninety (90) days prior to the expiration of this Lease, to place upon the Premises any usual or ordinary “For Lease” signs, and during such ninety (90) day period Landlord or its agents may, during normal business hours, enter the Premises and exhibit same to perform inspections of prospective lessees. * Landlord agrees that Tenant, at Tenant’s own cost and expense, may install the Property Arriba Street monument and communicate with Tenants and service providers; providedall other building signs set forth on Exhibit “C” hereof. In addition, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller Tenant shall have the right to participate in any such interviewsinstall window lettering or decals customary with other Cal-Fed locations. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry However, no signs shall be installed until all required governmental permits and specify the intended purpose therefor approvals have been obtained and the inspections and examinations contemplated to be madeTenant has paid all fees pertaining thereto. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller** Notwithstanding anything herein contained. Purchaser Landlord hereby acknowledges that Tenant shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenself-insure.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Sublease (1st Pacific Bancorp)
ENTRY AND INSPECTION. (a) Through Subject to the earlier of Closing or the termination provisions of this AgreementSection 4.2, Seller will permit Purchaser and its employees and authorized agents, representatives, contractors and consultants shall inspect and investigate (the “Licensee Parties”) to enter upon the Real Property and shall conduct such the Improvements at all reasonable times during normal business hours, to perform any inspections, investigations, studies, tests, evaluations and assessments of the Property as (including interviews with Tenants, vendors and service providers under the Service Contracts, physical, structural, mechanical, architectural, engineering, soils, geotechnical, and environmental/asbestos tests (generally, “Inspections”) that Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition determining the feasibility of purchasing the Property and the consummation of the transaction contemplated by this AgreementProperty. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable notify Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other any Licensee Parties Party to enter the Real Property or Improvements at least forty-eight one (481) hours Business Day prior to such intended entry and specify the intended purpose therefor and the inspections and examinations Inspections contemplated to be mademade and/or the Tenants, vendors and service providers under the Service Contracts, or Authorities with whom Purchaser or any Licensee Party contemplates communicating. Notwithstanding the foregoing to the contrary, Purchaser shall be permitted to contact venders and service providers under the Service Contracts and Authorities to confirm the status of title matters, zoning, environmental conditions and compliance with laws and regulations applicable to the Property (such communications referred to herein as “Approved Due Diligence Communications”) without providing prior notice to Seller of such communications. At the applicable Seller’s option, such Seller or its employees or authorized agents, representatives, contractors or consultants may be present for any such entry, inspection Inspections and interview communications with any Tenants and service providers with Tenants. With respect to any Inspection that will require excavations, borings, drilling, removal or demolition of any portion of the Property, or any other invasive activities on the Property owned (generally, “Invasive Testing”), Purchaser shall submit to Seller a written plan describing such Invasive Testing in reasonable detail (an “Invasive Testing Plan”) for Seller’s written approval, which shall not be unreasonably withheld, conditioned or delayed. Purchaser may not proceed with any Invasive Testing unless Seller has expressly approved in writing the Invasive Testing Plan, and Purchaser shall conduct all Invasive Testing in compliance with the Invasive Testing Plan approved by such Seller. If Seller fails to provide Purchaser with written notice of Seller’s disapproval of an Invasive Testing Plan (which written notice shall state in reasonable detail the basis for such disapproval) within three (3) Business Days after delivery of the Invasive Testing Plan to Seller, Seller shall be deemed to have approved the Invasive Testing Plan. Seller shall have the right to conduct have a Phase I Environmental Assessment representative of Seller observe any testing activities and to request and receive split samples of any materials collected for analysis by Purchaser or any Licensee Party. Purchaser shall restore the Property to substantially its condition immediately prior to any Invasive Testing promptly after the Invasive Testing is completed, but not later than five (5) days after any disturbance or damage occurs. Notwithstanding the foregoing, subject to the extent other terms of this Agreement, Seller hereby agrees that Purchaser shall be permitted to extract roof core samples and to perform invasive asbestos testing at the Property (the “Preapproved Invasive Testing”) so long as (i) a representative of Seller is present during any such Preapproved Invasive Testing and approves the specific means and locations for the testing and (ii) Purchaser restores and repairs any area of such testing to substantially the same is condition as it was prior to be completed by a reputablethe testing.
(b) In entering upon the Property, bonded conducting Inspections, and insured consultant licensed in communicating with Tenants, Purchaser and the State in which other Licensee Parties will not: (i) unreasonably disturb the Tenants or unreasonably interfere with their use of the Property; (ii) unreasonably interfere with the operation and maintenance of the Real Property or Improvements; (iii) damage any part of the Property is located carrying or any personal property owned or held by any Tenant or any other person or entity; (iv) injure or otherwise cause bodily harm to Seller or any Tenant, or any other person or entity; (v) permit any liens to attach to the Real Property by reason of the exercise of Purchaser’s rights under this Section 4; (vi) except for Approved Due Diligence Communications, communicate with any Tenants, Authorities, or vendors or service providers under the Service Contracts without prior written notice to Seller as provided in this Section 4; or (vii) reveal or disclose any Confidential Information concerning the Property and the Documents except in accordance with the confidentiality standards set forth in Section 4.3(a) above and Section 12 below. Purchaser will maintain commercial general liability insurance required under in an amount not less than $2,000,000 per occurrence covering any accident arising in connection with the presence of Purchaser or the other Licensee Parties on the Real Property or the Improvements, and deliver a certificate of insurance verifying such coverage to Seller prior to entry upon the Real Property or Improvements.
(c) Purchaser hereby agrees to indemnify, defend and hold Seller and its officers, directors, agents, employees, lenders, successors and assigns harmless from and against any and all liens, claims, causes of action, damages, liabilities, demands, suits, obligations to third parties, together with all losses, penalties, fines, costs and expenses relating to any of the foregoing (including but not limited to court costs and reasonable attorneys’ fees) (generally, “Claims”) arising out of any inspections, investigations, examinations, sampling or tests conducted by Purchaser or any Licensee Party, whether prior to or after the Effective Date, or as a result of any violation of the provisions of this Section 5.3 below4.2; provided, however, that no invasive testing or sampling Purchaser’s indemnity hereunder shall be conducted during not include any Claims resulting from the discovery of pre-existing conditions at the Property except to the extent such entry condition is aggravated by an act of Purchaser or any Licensee Party upon as a result of the Real Property without Inspections and shall not include any Claims resulting from the applicable negligence or willful misconduct of Seller or Seller’s specific prior written consent, which consent may be withheld, delayed agents or conditioned in such Selleremployees. Purchaser’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller obligations under this Section 4.2 shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or survive the other Licensee Parties undertake any borings or other disturbances termination of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by of this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Purchase and Sale Agreement (RREEF Property Trust, Inc.)
ENTRY AND INSPECTION. (a) Through From and after the Effective Date and through the earlier of Closing the end of the Final Due Diligence Period or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall have the right to conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements Improvements, at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller Owner LLC and the applicable Seller Owner LLC shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s Sellers’ option, such Seller Sellers may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling (including, without limitation, a Phase II environmental assessment) shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s Sellers’ specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s Sellers’ sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller Sellers shall be provided with a written sampling plan in reasonable detail in order to allow such Seller Sellers a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller Sellers shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (HGR Liquidating Trust)
ENTRY AND INSPECTION. (a) Through During the earlier of Property Approval Period, and thereafter until the Closing or the termination of this AgreementDate, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at any time prior to Closing at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice (which may be by e-mail) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers providers, provided that Purchaser shall not be prohibited from proceeding with respect any entry, inspection or communication if no Seller representative is present so long as Purchaser has given Seller the foregoing notice thereof and opportunity to the Property owned by such Sellerbe present. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice (which may be by e-mail) of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination of this AgreementInspection Period, Purchaser and its agents, representatives, contractors and consultants Seller shall inspect and investigate make the Property available for inspection by Buyer. In addition, within three (3) business days after the Effective Date, Seller shall deliver to Buyer all documents, permits, books, and shall conduct such testsrecords pertaining to the Property in Seller’s possession, evaluations including, without limitation, any title reports, surveys, environmental reports, building plans, wetlands delineations, governmental notices, permits, approvals and assessments septic plans. During the Inspection Period, Buyer may, at Buyer’s sole risk and expense, undertake a complete physical inspection of the Property as Purchaser Buyer deems necessaryappropriate, appropriate or prudent in any respect including but not limited to soil/groundwater tests and for all purposes in connection with Purchaser’s acquisition of the Property environmental assessments and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 belowaudits, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no any such inspection does not cause any permanent damage to the Property. All such inspections, investigations, reviews and examinations shall be undertaken at Buyer’s sole cost and expense. Buyer will coordinate all on-site inspections with Seller and Xxxxxx agrees to reasonably cooperate with Xxxxx, including without limitation making Seller and any of Seller’s representatives that are familiar with the Property and its present and past uses available for interview by Xxxxx or Xxxxx’s agent. After completing any inspections, Buyer, at Buyer’s sole expense shall restore and repair any damage to the Property caused by Buyer’s inspections to the condition that existed prior to such inspections. Xxxxx agrees to indemnify, defend and hold Seller harmless of and from any actual damages or injuries arising from Buyer’s inspection of the Property and, notwithstanding anything to the contrary in this Agreement, the obligations of Buyer under this Section 4.2 shall survive Closing or any termination of this Agreement. Buyer may undertake invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party of the Property upon the Real Property without the applicable Seller’s specific prior written consentnotice to Seller. Buyer shall maintain and shall ensure that any other contractor that tests or inspects the Property (including, which consent may be withheldwithout limitation, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for informationenvironmental matters) shall maintain, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities public liability and the applicable Seller shall have the right to participate in any such communicationsproperty damage.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through Purchaser shall have from the earlier date of Closing or the termination of this AgreementInspection Agreement through and including May 30, Purchaser and its agents2006 (the "Inspection Period") to examine, representatives, contractors and consultants shall inspect and investigate the Property in accordance with the terms and conditions of this Article V and, in Purchaser's sole judgment and discretion, to determine whether the Property is acceptable to Purchaser. Notwithstanding the foregoing, Purchaser shall conduct such testshave the one time right to extend the Inspection Period until June 5, evaluations and assessments 2006, which right to extend must be exercised, if at all, by written notice to Seller given on or before May 26, 2006. Notwithstanding anything to the contrary in this Agreement, Purchaser may terminate this Agreement by giving notice of termination to Seller (the "Termination Notice") on or before the expiration of the Property as Inspection Period. If Purchaser deems necessarydoes not deliver a Termination Notice, appropriate or prudent this Agreement shall continue in any respect full force and for effect. If this Agreement terminates pursuant to this Section 5.1(a), the Independent Consideration shall be paid to Seller and the Earnest Money Deposit shall be refunded to Purchaser immediately upon xxxxxxx of Purchaser, and all purposes in connection with Purchaser’s acquisition further rights and obligations of the Property parties under this Agreement shall terminate (except for the Termination Surviving Obligations).
(b) From and after the consummation of the transaction contemplated by this Agreement. Subject Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “"Licensee Parties”") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property (subject to the terms of the Tenant Leases regarding notification to Tenants of such entry) and communicate with the Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with the Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s 's option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect the Tenant. Any such inspections shall be subject to the Property owned by such Sellerterms of the applicable Tenant Lease. Purchaser shall have the right to conduct a Phase I Environmental Assessment Notwithstanding anything to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s 's sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(bc) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this the transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Franklin Street Properties Corp /Ma/)
ENTRY AND INSPECTION. Landlord and its agents may at all reasonable times during normal business hours and at any time in case of emergency, enter upon the Premises for the purposes of (a) Through inspecting the earlier same, and protecting the interest therein of Closing Landlord, and (b) taking all required materials and equipment into the Premises, and performing all work therein which Landlord is required or permitted to perform hereunder, (c) maintaining any service provided by Landlord to Tenant hereunder and (d) posting notices of nonresponsibility, all without rebate of rent to Tenant for any loss of occupancy or quiet enjoyment of the termination Premises, or damage, injury or inconvenience thereby occasioned except to the extent of this Agreement, Purchaser Landlord’s gross negligence or willful misconduct. Landlord and its agentsagents may also enter and/or pass through the Premises, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, to perform inspections show the Premises to holders of encumbrances on the interest of Landlord, to prospective purchasers, mortgagees or lessees of the Property and communicate with Tenants and service providers; providedBuilding. During the six (6) months prior to the expiration date of this Lease, however, Purchaser shall not have Landlord may exhibit the right Premises to interview Tenants unless interviews are coordinated prospective tenants. Landlord may also enter on and/or pass through the applicable Seller Premises at such times as shall be required by circumstances of emergency. If during the last month of the term hereof Tenant has removed substantially all property and personnel from the applicable Seller Premises and completely ceased all business operations from the Premises, Landlord may enter the Premises and repair, alter and redecorate the same, without abatement of rent and without liability to Tenant. If Tenant is not personally present to open the Premises when such an entry by Landlord is permitted, Landlord may enter by means of a master key without liability to Tenant except for any failure to exercise due care for Tenant’s property. Nothing contained herein shall constitute an actual or constructive eviction or relieve Tenant of any obligation with respect to making any repair, replacement or improvement or complying with any law, order or requirement of any government or other authority. Nothing contained herein shall impose upon Landlord any obligation to Tenant except as specifically provided in this Lease. Landlord may, for the purpose of altering, improving, or repairing the Premises or any other portion of the Building, erect scaffolding and other necessary structures where reasonably required by the character of the work to be performed, provided that the business of Tenant shall be interfered with as little as is reasonably practicable. Tenant hereby waives any claim for damages for any injury or inconvenience to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby except to the extent of Landlord’s gross negligence or willful misconduct. Landlord shall have the right to participate use any and all means which Landlord may deem proper to open any doors in any such interviews. Purchaser will provide an emergency in order to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended obtain entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablePremises, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser to the Premises shall not be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or an eviction of Tenant from the Premises or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller portion thereof. No provision of this Section shall be provided with a written sampling plan in reasonable detail in order construed as obligating Landlord to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser perform any repairs, alterations, or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaserdecorations, except with respect as otherwise expressly agreed to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsbe performed by Landlord under this Lease.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through During the earlier of Closing or the termination term of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without Seller’s prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller, Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerProperty. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State state in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good good-faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long as such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for informationinformation and associated follow-up communication, shall provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)
ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property Property, each Group Company and shall conduct their respective properties and assets and conducted such tests, evaluations and assessments of the Property Property, each Group Company and their respective properties and assets as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property Sale Interests and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the Purchaser complying with its obligations set forth in Section 5.3 below5.3, Sellers will permit Purchaser Seller hereby grants to Purchaser, and its authorized agents agents, representatives, contractors and representatives consultants (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, times and upon reasonable prior notice to perform additional inspections of the Property and communicate with Tenants and service providersProperty; provided, however, that Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable promptly advise Seller and the applicable Seller shall have the right to participate in of any communications that it or any Licensee Party has with any current or prospective Tenant or service provider, together with reasonably detailed information regarding such interviewscommunications. Purchaser will shall provide to Sellers written Seller prior notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or and Improvements at least forty-eight (48) hours reasonably prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such one or more representatives of Seller may be present for any such entryentry and inspection; provided that, as long as Purchaser has provided notice of the approximate time of such intended entry and inspection and interview with any Tenants and service providers with respect no less than two Business Days prior to the Property owned by date of such Seller. entry and inspection, Purchaser shall have be permitted to make such entry and inspection notwithstanding the right failure or inability of Seller or its representatives to conduct a Phase I Environmental Assessment attend the same. Notwithstanding anything to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property and Improvements without the applicable Seller’s specific prior written consent, which consent may shall not be unreasonably withheld, delayed or conditioned in such Seller’s sole and absolute discretionconditioned; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or any Licensee Party takes any sample from the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose Real Property and Improvements in connection with this transaction contemplated by this Agreement; providedany testing, howeverthen Purchaser shall, Purchaserupon the request of Seller made prior to such sampling, except with respect provide to routine requests for informationSeller a portion of such sample being tested to allow Seller, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention if it so chooses, to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsperform its own testing.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (New York REIT, Inc.)
ENTRY AND INSPECTION. (a) Through Purchaser shall have from the earlier date of Closing or the termination of this AgreementInspection Agreement through and including 5:00 p.m. Pacific Time on August 20, Purchaser and its agents2010 (the “Inspection Period”) to examine, representatives, contractors and consultants shall inspect and investigate the Property in accordance with the terms and shall conduct such testsconditions of this Article V and to determine whether the Property is acceptable to Purchaser (in Purchaser’s sole and absolute judgment and discretion). Notwithstanding anything to the contrary in this Agreement, evaluations and assessments Purchaser may terminate this Agreement by giving written notice of termination to Seller (the “Termination Notice”) on or before the expiration of the Property as Inspection Period. If Purchaser deems necessarydoes not give a Termination Notice, appropriate or prudent this Agreement shall continue in any respect full force and for effect. If this Agreement terminates pursuant to this Section 5.1(a), the Independent Consideration shall be paid to Seller and the Xxxxxxx Money Deposit shall be refunded to Purchaser immediately upon request of Purchaser, and all purposes in connection with Purchaser’s acquisition further rights and obligations of the Property parties under this Agreement shall terminate (except for the Termination Surviving Obligations).
(b) From and after the consummation Effective Date (or such earlier date as the Inspection Agreement became effective) and through the end of the transaction contemplated by this Agreement. Subject Inspection Period, but subject to the other provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 belowArticle V, Sellers Seller will permit Purchaser and its authorized agents agents, representatives and representatives consultants (collectively, the “Licensee Parties”) the right to enter upon the Real Property and or Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview or communicate with Tenants unless without Seller’s prior written consent but only if such interviews or communications are first coordinated through the applicable Seller and Seller shall have the applicable right to participate in any such interviews and communications; and provided, further, however, that Purchaser shall have the right to coordinate interviews with service providers but Purchaser shall not interview service providers unless Purchaser provides 24 hours prior written notice to Seller of the time and place of such interviews and Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants and service providers with whom any Licensee Party desires to communicate. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property or Improvements without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. Notwithstanding the foregoing, Purchaser shall not be liable or responsible for (i) the mere discovery of unfavorable conditions existing at or on the Property unless Purchaser’s or any Licensee Party’s actions exacerbate such unfavorable conditions or cause further damage or destruction to the Property; or (ii) any matters caused by the gross negligence or willful misconduct of Seller. If Purchaser or any Licensee Party takes any sample from the Real Property or Improvements in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(bc) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser(i) except for routine due diligence inquiries (e.g., except a zoning letter with respect to routine requests for informationthe Property) or when the communication is to obtain material that is generally available to the public, Purchaser shall provide Sellers Seller at least forty-eight (48) 48 hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationscommunications and (ii) any such communication must be conducted without disclosing any of the terms of this Agreement and in no event shall any Licensee Party make any such disclosure to any Authority.
(d) Purchaser expressly agrees, acknowledges and confirms that, prior to the expiration of the Inspection Period, Purchaser and its Licensee Parties shall have inspected and investigated the Property and conducted such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement, all in accordance with the terms and conditions of this Article V.
(e) From and after the Effective Date (or such earlier date as the Inspection Agreement became effective) and through the date which is three (3) months after the Closing Date, Purchaser shall not solicit the employment of any employee engaged in the operation, maintenance and/or management of the Property (an “Employee”) of Seller, Seller’s property manager or an Affiliate of either Seller or Seller’s property manager (each, an “Employer”), nor encourage any Employee to discontinue or not to renew his or her relationship with his or her Employer, in each case, without obtaining Seller’s prior written consent. As used in the foregoing sentence, “solicit” shall not include postings or advertisements to the general public regarding employment opportunities with respect to the operation, maintenance and/or management of the Property or any Employee’s response thereto, provided that Purchaser shall not, prior to the expiration of the three (3)-month period set forth in this Section 5.1(e), hire any Employee who responded to any such posting or advertisement or otherwise encourage any such Employee to discontinue or not to renew his or her relationship with his or her Employer. If Seller believes that Purchaser has violated the provisions of the immediately preceding sentence, Seller shall have the right to seek relief from any court of competent jurisdiction against Purchaser. Purchaser acknowledges that money damages alone shall not adequately compensate Seller in the event of a breach of such covenants; therefore, Purchaser agrees that in addition to all remedies available at law, in equity or under this Agreement, Seller shall be entitled to injunctive relief for the enforcement of this covenant. Such remedies shall not constitute the exclusive remedies available to Seller for a breach of this Section 5.1(e) and shall be in addition to all other remedies at law or equity available thereto.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (KBS Real Estate Investment Trust II, Inc.)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this AgreementTenant shall permit Landlord, Purchaser and its agentsemployees, partners, directors, officers, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectivelyaffiliates, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable timestimes during normal business hours and at any time in case of emergency: (i) to enter into and upon the Premises for the purpose of inspecting the same, or for the purpose of protecting the interest therein of Landlord, or to post notices of nonresponsibiliry; and (ii) to take all required materials and equipment into the Premises, and perform all required work therein, including the erection of scaffolding, props or other mechanical devices, for the purpose of making alterations, repairs or additions to the Premises or to any portion of the Common Areas, or for maintaining any service provided by Landlord to Tenant hereunder, without any payment, rebate or abatement of Rent to Tenant (although Landlord is under no obligation to make such alterations, repairs or additions to the Premises or to maintain or provide any services to the Premises, except to the extent expressly provided elsewhere in this Lease), provided, that Landlord shall not unreasonably interfere with Tenant’s operation of its business on the Premises. Landlord shall give Tenant at least 48 hours prior verbal notice before entering the Building to perform Landlord’s obligations hereunder. Tenant shall provide Landlord with an emergency contact number for Landlord’s use when 48 hours notice is not possible due to emergency circumstances. Tenant shall also permit Landlord and its employees, partners, directors, officers, representatives, agents and affiliates, upon request, to enter and/or pass through the Premises or any part thereof, at reasonable times during normal business hours, to perform inspections show the Premises to prospective purchasers, mortgagees, tenants or master or ground lessors of the Property Shopping Center or any portion thereof. Landlord and communicate with Tenants its employees, partners, directors, officers, representatives, agents and service providers; provided, however, Purchaser affiliates shall not have the no liability to Tenant for any disturbance to Tenant (and Tenant shall have no right to interview Tenants unless interviews are coordinated through the applicable Seller xxxxx Rent) as a consequence of Landlord’s exercise of its rights hereunder. Tenant shall permit all tenants and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice occupants of the intention of Purchaser or Shopping Center from time to time have signage on the other Licensee Parties Pylon Sign to enter the Real Property Premises for the purpose of installing, removing, maintaining or Improvements at least forty-eight (48) hours prior repairing such Pylon Sign, and Tenant shall not be entitled to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any rebate or abatement of Rent in connection with such entry, inspection and interview Landlord shall use its commercially reasonable effort to cause such tenants and occupants not to unreasonably interfere with any Tenants and service providers with respect to Tenant’s operation of its business on the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenPremises.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through From the earlier of Closing or the termination of this AgreementEffective Date until Closing, Purchaser and its prospective lenders and their respective agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Real Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to substantially its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)
ENTRY AND INSPECTION. (a) Through the earlier of Closing Landlord shall at all reasonable times and with at least 24 hours prior verbal notice, except in emergencies or the termination of this Agreementto provide Building services, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) have the right to enter the Premises to inspect them, to supply services in accordance with this Lease, to make repairs and renovations as reasonably deemed necessary by Landlord, and to submit the Premises to prospective or actual purchasers or encumbrance holders (or, during the final twelve months of the Term or when an uncured Default exists, to prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. Notwithstanding the foregoing, Tenant may, at its own expense, provide its own locks to an area within the Premises ("Secured Area"). Tenant need not furnish Landlord with a key but upon the Real Property Expiration Date, or earlier termination of the Lease, Tenant shall surrender all such keys to Landlord. If Landlord must gain access to a Secured Area in a non-emergency situation, Landlord shall contact Tenant and Improvements at Landlord and Tenant shall arrange a mutually agreed upon time for Landlord to do so. Landlord shall comply with all reasonable timessecurity measures pertaining to the Secured Area and Tenant shall be entitled to have an employee of Tenant accompany the person(s) entering the Premises, during normal business hours, to perform inspections of provided Tenant makes such employee available at the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any time Landlord or such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties party desires to enter the Real Property Premises. If Landlord determines in its sole discretion that an emergency in the Building or Improvements at least forty-eight (48) hours prior the Premises, including, without limitation, a suspected fire or flood, requires Landlord to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect gain access to the Property owned by Secured Area, Tenant hereby authorizes Landlord to forcibly enter the Secured Area. In such Seller. Purchaser event, Landlord shall have no liability whatsoever to Tenant, and Tenant shall pay all reasonable expenses incurred by Landlord in repairing or reconstructing any entrance, corridor, door or other portions of the right Premises damaged as a result of a forcible entry by Landlord. Landlord shall have no obligation to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed provide either janitorial service or cleaning in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenSecured Area.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. During the Inspection Period, subject to the rights of tenants, Seller shall make the Property available for inspection by Purchaser, Purchaser’s employees, agents and contractors, during normal business hours and at such other times upon reasonable notice but in no event less than twenty-four (24) hours advance notice. During the Inspection Period, Purchaser may, at Purchaser’s sole risk and expense, undertake a complete physical inspection of the Premises as Purchaser deems appropriate; provided, however, that (a) Through any such inspection does not cause any permanent damage to the earlier Premises and (b) Purchaser shall not conduct or allow any intrusive inspection of the Premises without Seller’s prior written consent, which Seller hereby agrees not to unreasonably withhold, condition or delay. Notwithstanding anything contained in this Section 4.2 to the contrary, Seller hereby consents to any customary Phase I environmental inspection of the Premises. In addition, with the exception of privileged communications and materials, Purchaser shall have the right to review at the Premises any operating files maintained by Seller or its property manager in connection with the leasing, maintenance and/or management of the Premises, that are on the Premises, including, without limitation, rent rolls, financial and operating statements for the last three (3) years, structural engineering studies, environmental studies, those service contracts or agreements pertaining to the use, operation or maintenance of the Property (the “Service Contracts”), plans and specifications, tenant lease files, and other general records relating to the income and expenses of the Premises. During the Inspection Period, Purchaser shall obtain an appraisal of the fair market value of the Property (the “Appraisal”). All such inspections, investigations and examinations shall be undertaken at Purchaser’s sole cost and expense. Prior to conducting any examination of the Premises, Purchaser shall provide Seller with a certificate of insurance confirming that Purchaser maintains a comprehensive general liability policy with coverage in an amount of not less than $1,000,000.00. Purchaser will coordinate all on-site inspections with Seller so that Seller shall have the option of having one of Seller’s representatives present at any and all on-site inspections, provided, however Seller’s representative shall not unreasonably disturb Purchaser’s investigations. Purchaser shall direct all communications to Seller’s designated management representatives and not to Seller’s on-site employees. After completing any inspections, Purchaser shall restore the Property to substantially the condition that existed immediately prior to said inspection and repair any damage caused by Purchaser’s inspections, and Purchaser hereby agrees to indemnify and hold Seller harmless from any and all claims made or causes of action brought against Seller or the Property to the extent resulting from the activities of Purchaser or any of Purchaser’s agents or servants in conducting any of the inspections, investigations or examinations on the Premises; provided, however, Purchaser shall have no liability to Seller under this Section 4.2 for pre-existing conditions upon the Property. Purchaser agrees not to unreasonably disrupt the business operations on the Premises or any of the tenants during the term of this Agreement and Purchaser further agrees not to disclose to any third party any non-public information contained in books of account, customer lists or any other proprietary information provided to Purchaser by Seller, except to Purchaser’s agents, contractors, accountants, attorneys, lender and otherwise as may be necessary or desirable for the purposes of this transaction or as may be otherwise required by law, without the express prior written consent of Seller. Neither Purchaser, nor any employee or agent of Purchaser, shall report any non-public data, results, or work product obtained or produced in connection with Purchaser’s inspection and examination of the Property to a municipal, state, or federal government or agency or any other administrative agency, or any other third party, except as required by Purchaser in order to evaluate the Property or to comply with legal requirements and duties, without the written permission of the Seller. Seller shall reasonably cooperate with Purchaser in its due diligence review and investigation of the Property and shall direct its employees and agents to reasonably cooperate with Purchaser in such review and investigation. Except as otherwise set forth in Article VI, Seller assumes no responsibility for the accuracy or completeness of any statement or other matter contained in any of the documents or records used by Purchaser to assist Purchaser in making its inspections, investigations or tests with respect to the Premises. The terms of this Section 4.2 shall survive the Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenapplicable.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview interviews with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan -13- in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Sale and Purchase Agreement (Preferred Apartment Communities Inc)
ENTRY AND INSPECTION. (a) Through the earlier of Closing the end of the Property Approval Period or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property Properties and shall conduct such tests, evaluations and assessments of the Property Properties as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property Common Interest and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property Properties and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long such communications can be conducted without disclosing that a sale of the Common Interest or the Properties is contemplated); provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Global REIT, Inc.)
ENTRY AND INSPECTION. (a) 9. Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsinterviews with Tenant and service providers. Purchaser will provide to Sellers Seller written or oral notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Sellerentry or inspection. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) 10. Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (HGR Liquidating Trust)
ENTRY AND INSPECTION. (a) Through Subject to the earlier of Closing or the termination provisions of this AgreementSection 5.1 and the obligations set forth in Section 5.3, from and after the Effective Date until 3:00 p.m. Pacific Standard Time on the date that is thirty (30) days after the Effective Date (the “Inspection Period”), Seller will permit Purchaser and its employees and authorized agents, representatives, contractors and consultants shall inspect and investigate (the “Licensee Parties”) to enter upon the Real Property and shall conduct such at all reasonable times during normal business hours to perform any inspections, investigations, studies, tests, evaluations and assessments of the Property (including, but not limited to, physical, structural, mechanical, architectural, engineering, soils, geotechnical, and environmental / asbestos tests (generally, “Inspections”) as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable notify Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other any Licensee Parties Party to enter the Real Property or Improvements at least forty-eight two (482) hours business days prior to such intended entry and specify the intended purpose therefor and the inspections and examinations Inspections contemplated to be mademade and/or the service provider, Authorities, or any other person with whom Purchaser or any Licensee Party contemplates communicating. At the applicable Seller’s option, such Seller or its employees or authorized agents, representatives, contractors or consultants (the “Seller Representatives”) may be present for any such entryentry or Inspection. With respect to any Inspection that will require excavations, inspection and interview borings, drilling, removal or demolition of any portion of the Property, or any other invasive activities on the Property (generally, “Invasive Testing”), Purchaser shall submit to Seller a written plan describing such Invasive Testing in reasonable detail (an “Invasive Testing Plan”) for Seller’s written approval, which approval may not be unreasonably withheld or delayed. Purchaser may not proceed with any Tenants Invasive Testing unless Seller has expressly approved in writing the relevant Invasive Testing Plan, and service providers Purchaser shall conduct all Invasive Testing in compliance with respect to the Property owned Invasive Testing Plan approved by such Seller. Purchaser Seller shall have the right to conduct have a Phase I Environmental Assessment Seller Representative observe any testing activities and to the extent the same is to be completed request and receive split samples of any materials collected for analysis by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowPurchaser or any Licensee Party; provided, however, that no invasive testing or sampling Purchaser’s sole responsibility shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Sellerto notify Seller when Purchaser’s specific prior written consenttesting activities will be taking place, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with solely responsible for causing a written sampling plan in reasonable detail in order Seller Representative to allow be present to observe and/or to request and receive split material samples. Purchaser Party shall repair any damage to the Property caused by any such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted Invasive Testing and restore it to its pre-existing condition as existed immediately before promptly after any such borings Invasive Testing, but in no event later than five (5) days after any disturbance or other disturbances were undertakendamage occurs.
(b) Solely as an accommodation to Purchaser in connection with Purchaser’s contemplated ownership and operation of the Property following the Closing and provided Purchaser has not exercised its right to terminate this Agreement pursuant to Section 5.5, Purchaser shall have the right, after the expiration of the Inspection Period, to continue to perform Inspections regarding the Property provided that Purchaser complies with the provisions of this Agreement.
(c) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this the transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller notice at least forty-eight two (482) hours business days prior written notice of Purchaser’s intention to communicate Purchaser communicating with any Authorities regarding the Property and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through From and after the earlier of Closing or Effective Date until the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments expiration of the Property as Purchaser deems necessaryDue Diligence Period, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents agents, consultants, representatives, and representatives lenders (collectively, the “Licensee Parties”"LICENSEE PARTIES") the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform inspections of the Property Property, including a Phase I evaluation, and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewsTenant. Purchaser will provide to Sellers written Seller notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or and/or Improvements at least forty-eight (48) 48 hours prior to such intended entry to conduct the Phase I and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s 's specific prior written consent, which consent may not be unreasonably withheld, delayed or conditioned conditioned. Solely as an accommodation to Purchaser in such Seller’s sole connection with Purchaser's contemplated ownership the Property and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances operation of the soilProperty following the Closing and provided Purchaser has not exercised its right to terminate this Agreement pursuant to Section 5.4, Purchaser shall have the soil right, after the expiration of the Due Diligence Period, to continue to conduct examinations, inspections, tests, studies and investigations regarding the Property provided that Purchaser complies with the provisions of this Agreement and provided further that such continuing inspection right shall be recompacted not give, and Purchaser acknowledges that Purchaser shall not have any right to its condition as existed immediately before terminate this Agreement on account of the results of any such borings examinations, inspections, tests, studies, or other disturbances were undertakeninvestigations regarding the Property or on account of the failure to obtain financing for the consummation of the transactions contemplated by this Agreement after the expiration of the Due Diligence Period.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided. Purchaser shall be free to request copies of building permits, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours certificates of occupancy and approved site plans and zoning compliance letters or certificates from the Authorities without prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsSeller.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Imclone Systems Inc/De)
ENTRY AND INSPECTION. (a) Through At all times prior to the earlier of Closing or the termination of this AgreementDate, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its lender and their authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located of Illinois carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers 16 Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hoursupon twenty- four (24) hours prior notice to Tenant (except in the case of an emergency) and when accompanied by a representative of Tenant (to the extent Tenant makes a representative available), to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through enter the applicable Seller Premises to inspect them, to supply services in accordance with this Lease, to protect the interests of Landlord in the Premises, to make repairs and renovations as reasonably deemed necessary by Landlord, and to submit the applicable Seller Premises to prospective or actual purchasers or encumbrance holders (or, during the final six months of the Term or when an uncured Tenant default exists, to prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. Landlord shall at all times have and retain a key which unlocks all of the doors in the Premises, excluding Tenant’s vaults and safes, and Landlord shall have the right to participate use any and all means which Landlord may deem proper to open the doors in an emergency in order to obtain entry to the Premises, and any entry to the Premises obtained by Landlord shall not under any circumstances be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or any eviction of Tenant from the Premises. Landlord shall use its commercially reasonable efforts to interfere as little as reasonably practicable with the conduct of Tenant’s business in the Premises and to use reasonable efforts to preserve the confidentiality of information held by Tenant in the Premises. Due to the nature of Tenant’s business and the confidentiality of information related thereto, Tenant shall be entitled to have an employee of Tenant accompany the person(s) entering the Premises, provided Tenant makes such interviews. Purchaser will provide to Sellers written notice of employee available at the intention of Purchaser time Landlord or the such other Licensee Parties party desires to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenPremises.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants Landlord shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal reasonable business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements upon at least forty-eight (48) hours prior written or oral notice to Tenant’s office manager (except in emergencies and providing janitorial services, when no notice shall be required), have the right to enter the Premises to inspect them, to supply services in accordance with this Lease, to protect the interests of Landlord in the Premises, to make repairs and renovations as reasonably deemed necessary by Landlord, and to submit the Premises to prospective or actual purchasers or encumbrance holders (or, during the final nine (9) months of the Term or when a Default exists, to prospective tenants), all without being deemed to have caused an eviction of Tenant and without abatement of rent except as provided elsewhere in this Lease. In exercising its right of entry pursuant to this Section 7.5, Landlord shall use its commercially reasonable efforts to not unreasonably interfere with Tenant’s use of, access to, or operation of its business within the Premises, Building, and Common Areas, and shall perform such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated work as expeditiously as reasonably possible. With respect to any work to be made. At performed by Landlord within the applicable SellerPremises other than emergency work, daily janitorial or work requested by Tenant:
(i) Landlord shall, to the extent reasonably practical, and subject to Tenant’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers cooperating with respect to the Property owned by scheduling of such Seller. Purchaser work, use its reasonable efforts to schedule such work with Tenant and cause such work to be performed during hours other than reasonable business hours, and (ii) Tenant shall have the right to conduct postpone Landlord’s performance of such work for up to five (5) business days; provided that Tenant shall in all events be responsible for any increased costs occasioned by the foregoing scheduling and/or postponement of such work by Landlord. Landlord shall at all times have and retain a Phase I Environmental Assessment to key which unlocks all of the extent the same is to be completed by a reputable, bonded and insured consultant licensed doors in the State in which the Property is located carrying the insurance required under Section 5.3 below; providedPremises, howeverexcluding Tenant’s vaults, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consentsafes, which consent may be withheldand other secure areas, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties Landlord shall have the right to communicate directly with use any and all means which Landlord may deem proper to open the Authorities for doors in an emergency in order to obtain entry to the Premises, and any good faith reasonable purpose entry to the Premises obtained by Landlord shall not under any circumstances be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or any eviction of Tenant from the Premises. Landlord acknowledges and understands that certain operations of Tenant within the Premises may involve the use of confidential information or have sensitive equipment (such as the server room), and that such areas within the Premises may be designated by Tenant as secure areas. In recognition of such needs by Tenant, Landlord shall provide Tenant an opportunity to have an employee of Tenant accompany Landlord during any entry into the Premises by Landlord unless an employee of Tenant is not available to do so, and that in connection with this transaction contemplated entering into any areas within the Premises which Tenant has designated to Landlord as secured areas, Landlord shall be accompanied, in any event, by this Agreement; provided, however, Purchaseran employee of Tenant, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice in the case of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsan emergency.
Appears in 1 contract
Samples: Lease (Spark Networks Inc)
ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct conducted such tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 13.1 and subject to the obligations set forth in Section 5.3 13.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements Land at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written Seller telephonic notice (by contacting Xxxxx Xxxxxxxxxx at (000) 000-0000) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements Land at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property Land without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Land in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 13.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller at least forty-eight (48) 24 hours prior written telephonic notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Cb Richard Ellis Realty Trust)
ENTRY AND INSPECTION. (a) Through During the earlier Inspection Period, Buyer may inspect the Properties at a time mutually agreed upon by the Parties, at Buyer’s expense, to ensure that (i) the Properties’ Equipment, Personal Property and UST Systems necessary for the operation of the Properties consistent with Seller’s past practices (and which is to be conveyed to Buyer at Closing) are present and in working order and (ii) the structural components of the buildings or other improvements (“Improvements”) located on any Property are in good working condition. Buyer may inspect the Properties personally or through agents, employees, contractors, or subcontractors and shall assume all risks involved in entering the Properties pursuant to this Section 4.5. Seller Representatives may attend all inspections. Buyer shall not engage in conversations with employees working at the Properties except as approved by Seller Representatives. In the event that such inspections identify (x) any Equipment, Personal Property or UST System at any Property which is not in working order in compliance with any applicable Law or (y) a material defect in any of the structural components of the Improvements located on any Property which defect materially impairs the current use of the Property consistent with Seller’s current use, then the Buyer shall advise Seller thereof by providing a copy of the written results of its inspection. Unless otherwise mutually agreed by Seller and Buyer, the Seller shall thereafter undertake, at its expense, to cause the identified matters to be corrected or repaired in a commercially reasonable manner. Seller and Buyer shall cooperate with each other in the Seller’s performance of any such repairs. In the event such repairs are not completed prior to the Closing, Buyer and the Seller shall mutually agree on a timeframe and funding mechanism pursuant to which such repairs shall be completed post-Closing and, if needed, Buyer shall provide Seller reasonable access subsequent to the Closing. Any amounts expended by Seller to complete such repairs shall not be included in the Cap Ex Credit. Buyer shall restore any damage to the Properties and to the Equipment, Improvements, Personal Property and UST Systems located thereon, caused by Buyer’s entry upon the Properties pursuant to this Section 4.5(a). Notwithstanding the foregoing, or anything contained herein to the contrary, Buyer acknowledges and agrees that Seller shall only be required to make, or cause to be made, any repairs to any Equipment, Personal Property, UST System or structure component of any Improvement located at the Property commonly known as the Secondi Travel Center, located at 300 Xxx Xxxx Xxxx, Xxxxxxx, Xxxxxxxxxxx, if such repairs relate to (i) any non-compliance of any Equipment or UST System with any applicable Law which non-compliance prevents such Equipment or UST System from being used for the storage or distribution of motor fuels until such non-compliance is repaired or (ii) any material defect in any of the structural components located on such Property which requires the convenience store or truck wash on such Property to cease operations until such defect is repaired.
(b) No later than two (2) business days prior to Buyer’s initial entry upon any Property either for the purposes of inspection under this Section 4.5 or under Section 5.3 or Section 5.10 below, Buyer shall deliver to Seller evidence reasonably satisfactory to Seller that Buyer or its contractors have obtained commercial general liability insurance, in an amount of not less than $2,000,000 written on such forms as are commercially reasonably and reasonably acceptable to Seller, naming Seller as an additional insured, with respect to the Properties and any entry onto or activities on or about the Properties by Buyer and all of Buyer’s agents, employees and contractors (and any others entering onto the Properties for or at the request of Buyer).
(c) Buyer shall, and does hereby agree to, indemnify, defend and hold Seller, its Affiliates, the direct and indirect members, partners, trustees, shareholders, beneficiaries, directors, officers, employees, attorneys and agents of each of them, and their respective heirs, successors, personal representatives and assigns (collectively, the “Seller Related Parties”), harmless from and against any and all claims, demands, suits, obligations, payments, damages, Losses, penalties, liabilities, costs and expenses (including, but not limited to, reasonable attorneys’ fees) (collectively, the “Claims”) caused directly by Buyer, or by Buyer’s contractors, employees or agents and any others entering onto the Properties for or at the request of Buyer (collectively, the “Buyer Parties”) or as the direct result of Buyer Parties’ acts taken or occurring in, on or about the Property in the exercise of the inspection right granted pursuant to Section 4.5(a), Section 5.3 or Section 5.10. The provisions of this Section 4.5(c) shall survive the termination of this Agreement or Closing for a period of one (1) year, provided that if Seller has notified Buyer of a Claim during such one (1) year period, the provisions of this Section 4.5(c) shall continue to survive with respect to such Claim until the resolution of such Claim.
(d) All information received or accumulated by Buyer or a Buyer Party during any inspection shall be treated as confidential information, notwithstanding the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments be deemed to be “Evaluation Material” governed by the terms of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakenNDA.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through the earlier of the Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall to conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right (and Seller shall cooperate with Purchaser in the exercise of such right) to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice or telephonic verbal notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such Sellerproviders. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located of Texas carrying the insurance required under Section 5.3 below; provided, however, that no physical or invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as nearly as possible as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right (and Seller shall cooperate with Purchaser in the exercise of such right) to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers Seller at least forty-eight (48) hours prior written notice or telephonic verbal notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser Provided Owner and its agentsagents comply with Tenant's reasonable written security rules (as modified from time to time and approved by Owner, representativeswhich approval shall not be unreasonably withheld, contractors conditioned or delayed) (the "Security Rules") regarding access to the Premises, Tenant will permit Owner and consultants shall inspect its agents to enter into and investigate upon the Property Premises at all reasonable times for the purpose of inspecting the same or for the purpose of cleaning (Suite 3425 only), repairing, altering or improving the Premises or Building and shall conduct when reasonably necessary may close entrances, doors, corridors, elevators or other facilities without liability to Tenant by reason of such tests, evaluations closure and assessments without such action by Owner being construed as a constructive eviction of Tenant or relieving the Property as Purchaser deems necessary, appropriate or prudent in Tenant from the duty of observing and performing any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 Lease. If Tenant is not personally present to open and subject permit an entry into the Premises at any time when for any reason an entry therein shall be urgently necessary by reason of fire or other emergency, Owner or Owner's agents may forcible enter the same without rendering Owner or such agents liable therefor (if during such entry Owner or Owner's agents shall accord reasonable care to Tenant's property) and without in any manner affecting the obligations and covenants of this Lease. During the time period within 180 days prior to the obligations set forth in Section 5.3 belowexpiration of the Lease Term, Sellers will permit Purchaser and its authorized agents and representatives (collectivelyor if applicable, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable timesExtended Term, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller Owner shall have the right to participate in enter the Premises pursuant to the applicable Security Rules for the purpose of showing the Premises to prospective tenants. Owner agrees that an escort designated by Tenant may accompany Owner and any such interviews. Purchaser will provide to Sellers written notice prospective tenant at all times during any said showing of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) hours prior to Premises and that Owner and such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly prospective tenant must comply with the Authorities for any good faith reasonable purpose Security Rules in connection with such access to the Premises. Owner acknowledges that the written Security Rules which are dated February 5, 1998 and have been provided to Owner are acceptable. For purposes of this transaction contemplated by this Agreement; providedArticle 9, however, Purchaser, except Owner shall use reasonable efforts not to interfere with respect to routine requests for information, shall provide Sellers or interrupt the conduct of Tenant's business at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communicationsPremises.
Appears in 1 contract
Samples: Lease Agreement (Infoseek Corp /De/)
ENTRY AND INSPECTION. (a) Through the earlier Purchaser shall have rights of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments physical inspection of the Property or the books and records thereof, including without limitation examination of those due diligence matters contained within the items reflected on Exhibit B attached hereto. Seller agrees to promptly furnish the necessary documents stated on Exhibit B for inspection not later than ten (10) days from Effective Date. Purchaser, within twenty one (21) days from the Effective Date (the “Due Diligence Period”), shall specifically approve in writing all matters contained in the items set forth on Exhibit B as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition well as the forms of the Property Closing documents, and the consummation of affirm that Purchaser will proceed with the transaction contemplated by the Agreement for the full Purchase Price. If Purchaser fails to provide timely such unambiguous written approval to Seller by the last day of the Due Diligence Period, this AgreementAgreement shall terminate and be of no further force or effect except that Purchaser shall forfeit its Initial Deposit to Seller, and thereafter the Parties shall have no obligations to each other except for any express surviving indemnity obligations contained herein. Subject to Notwithstanding the provisions foregoing, the Due Diligence Period shall be extended by one (1) day for each day or portion thereof beyond the aforesaid ten (10) day period for delivery of this Section 5.1 and subject to the obligations set forth necessary documents stated on Exhibit B that any of said documents have not been delivered by Seller. Except as otherwise expressly provided in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively13.1 below or in the Closing documents, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections sale of the Property is and communicate will be made on an “AS IS, WHERE IS” basis, with Tenants all defects of any nature, and service providers; providedSeller has not made, howeverdoes not make and specifically negates and disclaims, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice representations, warranties or guaranties of the intention of Purchaser any kind or the other Licensee Parties to enter the Real Property character whatsoever, whether express or Improvements at least forty-eight (48) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s optionimplied, such Seller may be oral or written, past, present for any such entryor future of, inspection and interview with any Tenants and service providers as to, concerning or with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property other matter whatsoever, including without the applicable Seller’s specific prior written consentlimitation its income, which consent may be withheldits tenancies, delayed or conditioned in such Seller’s sole its value, its zoning, its environmental condition, and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate compliance with any Authorities and the applicable Seller shall have the right to participate in any such communicationsother laws.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Wilshire Enterprises Inc)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this AgreementAgreement or the Closing, Purchaser and its agents, representatives, contractors and consultants shall have the right to inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without Seller’s prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and the applicable Seller, Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Property owned by such SellerProperty. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State state in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this AgreementAgreement (so long as such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser, except with respect to routine requests for informationinformation and associated follow-up communication, shall provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall may inspect and investigate the Property and shall may conduct such tests, evaluations and assessments of the Property as Purchaser deems reasonably necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement; provided, however, that no invasive testing or sampling shall be conducted by Purchaser or any Licensee Party upon the Real Property or Improvements without the applicable Seller’s prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview communicate with Tenants unless interviews and communications are coordinated through the applicable Seller and Seller, the applicable Seller shall have the right to participate in any such interviewscommunications, and Purchaser shall comply with the notice requirements of the applicable Tenant Lease. Purchaser will provide to Sellers written notice (which can be delivered by email) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least fortytwenty-eight four (4824) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and service providers with respect to the Individual Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to the obligations set forth in Section 5.3 belowand Section 13.6, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for informationinformation and 23 associated follow-up communication, shall provide Sellers at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Hines Real Estate Investment Trust Inc)
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Purchaser and its agents, representatives, contractors and consultants shall inspect and investigate the Property and shall conduct such tests, evaluations and assessments of the Property as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable Seller and the applicable Seller Landlord shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight Leased Premises: (48a) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview with any Tenants and service providers with respect to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowcase of emergency; provided, however, that no invasive testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.
(b) Subject to make necessary or agreed repairs, decorations, alterations, improvements, supply necessary or agreed services, exhibit the obligations set forth in Section 5.3 belowLeased Premises to prospective or actual buyers, mortgages, tenants, workmen, or contractors; (c) for periodic inspections; (d) when Tenant has abandoned or surrendered the Licensee Parties shall have the right Leased Premises.; (e) pursuant to communicate directly a court order; or (f) under any circumstances permitted by state law. Landlord will serve Tenant with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, shall provide Sellers at least fortyTwenty-eight Four (4824) hours prior written notice before entry unless: entry is due to an emergency; entry occurs after Tenant’s surrender or abandonment of Purchaserthe Leased Premises; the purpose of the entry is to exhibit the Leased Premises to prospective or actual purchasers or tenants; Tenant and Landlord agree orally to an entry to make agreed repairs or supply agreed services at an approximate day and time within one week of the oral agreement; or Tenant is present and consents to entry at the time of entry. Entry can be made only during normal business hours unless Landlord is responding to an emergency, Tenant has surrendered or abandoned the Leased Premises, or Tenant consents to Landlord’s intention entry outside of normal business hours. Tenant agree that if they deny Landlord access to communicate the Leased Premises when Landlord is in compliance with any Authorities this Lease and the applicable Seller shall have the right statutory requirements and entitled to participate in access, any such communicationsdenial of access shall be deemed and constitute a waiver of any habitability or other claims Tenant may have against Landlord regarding any of Landlord’s affirmative duties associated with the condition of the Leased Premises due to Tenant’s interference with Landlord’s ability to perform said duties, and shall be a material breach of this Lease, which shall entitle Landlord to serve Tenant with a notice terminating this Lease.
Appears in 1 contract
Samples: Residential Lease Agreement
ENTRY AND INSPECTION. (a) Through the earlier of Closing or the termination of this Agreement, Seller will permit Purchaser and its employees and authorized agents, representatives, contractors and consultants shall inspect and investigate (the “Licensee Parties”) to enter upon the Real Property and shall conduct such at all reasonable times during normal business hours to perform any inspections, investigations, studies, tests, evaluations and assessments of the Property (including, but not limited to, physical, structural, mechanical, architectural, engineering, soils, geotechnical, and environmental /asbestos tests (generally, “Inspections”) as Purchaser deems necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, during normal business hours, to perform inspections of the Property and communicate with Tenants and service providers; provided, however, Purchaser shall not have the right to interview Tenants unless interviews are coordinated through the applicable notify Seller and the applicable Seller shall have the right to participate in any such interviews. Purchaser will provide to Sellers written notice of the intention of Purchaser or the other any Licensee Parties Party to enter the Real Property or Improvements at least forty-eight two (482) hours business days prior to such intended entry and specify the intended purpose therefor and the inspections and examinations Inspections contemplated to be mademade and/or the service provider, Authorities, or any other person with whom Purchaser or any Licensee Party contemplates communicating. At the applicable Seller’s option, such Seller or its employees or authorized agents, representatives, contractors or consultants (the “Seller Representatives”) may be present for any such entryentry or Inspection. With respect to any Inspection that will require excavations, inspection and interview borings, drilling, removal or demolition of any portion of the Property, or any other invasive activities on the Property (generally, “Invasive Testing”), Purchaser shall submit to Seller a written plan describing such Invasive Testing in reasonable detail (an “Invasive Testing Plan”) for Seller’s written approval, which approval may not be unreasonably withheld or delayed. Purchaser may not proceed with any Tenants Invasive Testing unless Seller has expressly approved in writing the relevant Invasive Testing Plan, and service providers Purchaser shall conduct all Invasive Testing in compliance with respect to the Property owned Invasive Testing Plan approved by such Seller. Purchaser Seller shall have the right to conduct have a Phase I Environmental Assessment Seller Representative observe any testing activities and to the extent the same is to be completed request and receive split samples of any materials collected for analysis by a reputable, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 belowPurchaser or any Licensee Party; provided, however, that no invasive testing or sampling Purchaser’s sole responsibility shall be conducted during any such entry by to notify Seller when Purchaser’s testing activities will be taking place, and Seller shall be solely responsible for causing a Seller Representative to be present to observe and/or to request and receive split material samples. Purchaser or any Licensee Party upon shall repair any damage to the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, further, that prior to giving caused by any such approvalInvasive Testing promptly after any Invasive Testing, such Seller shall be provided with a written sampling plan but in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser no event later than five (5) days after any disturbance or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertakendamage occurs.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this the transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller notice at least forty-eight two (482) hours business days prior written notice of Purchaser’s intention to communicate Purchaser communicating with any Authorities regarding the Property and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
ENTRY AND INSPECTION. (a) Through Purchaser expressly acknowledges and confirms that, prior to the earlier of Closing or the termination execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants shall inspect have inspected and investigate investigated the Property and shall conduct conducted such tests, evaluations and assessments of the Property as Purchaser deems deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the consummation of the transaction contemplated by this Agreement. Subject From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Sellers Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property and Improvements at all reasonable times, times during normal business hours, hours to perform additional inspections of the Property and communicate with Tenants and Tenants, service providers, any Authorities and any other third parties related to the Service Contracts, and Licenses and Permits; provided, however, other than as expressly set forth in this Section 5.1(a), herein below, Purchaser shall not have the right to interview communicate with Tenants or service providers unless interviews and communications are coordinated through the applicable Seller and the applicable Seller shall have the right to participate in any such interviewscommunications. Purchaser will provide to Sellers Seller written notice (the “Entry Notice”) of the intention of Purchaser or the other Licensee Parties to enter the Real Property or Improvements at least forty-eight (48) 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be mademade and/or the Tenants, service providers or other party with whom any Licensee Party will communicate; provided, however, in the event that Seller fails to respond to such Entry Notice within the aforementioned 24 hour period, Purchaser shall have the right to enter the Real Property for the purposes set forth in the applicable Interview Notice without any further notice or approval from Seller. At the applicable Seller’s option, such Seller may be present for any such entry, inspection and interview communication with any Tenants and or service providers with respect providers. Notwithstanding anything to the Property owned by such Seller. Purchaser shall have the right to conduct a Phase I Environmental Assessment to the extent the same is to be completed by a reputablecontrary contained herein, bonded and insured consultant licensed in the State in which the Property is located carrying the insurance required under Section 5.3 below; provided, however, that no invasive physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without the applicable Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in such Seller’s sole and absolute discretion; and provided, furtherhowever, that prior to giving any such approval, such Seller shall be provided with a written sampling plan in reasonable detail in order to allow such Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its substantially the same condition as existed was in existence immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the prior written request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b) Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this Agreement; provided, however, Purchaser, except with respect to routine requests for information, Purchaser shall provide Sellers Seller at least fortytwenty-eight four (4824) hours prior written notice of Purchaser’s intention to communicate with any Authorities and the applicable Seller shall have the right to participate in any such communications.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Wells Real Estate Investment Trust Ii Inc)