Facility Condition Reports Sample Clauses

Facility Condition Reports. Purchaser shall use commercially reasonable efforts to obtain within forty-five (45) days after the Effective Date, at Purchaser’s cost, a Facility Condition Report with respect to each Facility and, upon receipt, promptly provide a copy of each Facility Condition Report to Seller. In the event any Facility Condition Report identifies any deferred maintenance or other matters requiring repair, remediation or other resolution (any such matter, a “Maintenance Deficiency”), Seller shall, at Purchaser’s written request and at Seller’s option, either (i) remedy prior to Closing all Maintenance Deficiencies requested by Purchaser within thirty (30) days after receipt of the applicable Facility Condition Report (or as soon as practicable thereafter, but in no event later than the expiration of the Inspection Period), at Purchaser’s expense (but subject to payment by Seller of the Maintenance Deficiency Amount Excess), or (ii) credit to Purchaser at Closing the Maintenance Deficiency Amount Excess (with the amount necessary to remedy any Maintenance Deficiency being reasonably determined by Purchaser’s third party professional).