Common use of Inspections in General Clause in Contracts

Inspections in General. Commencing on the Effective Date, Purchaser, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to any entry onto the Real Property, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability insurance with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior notice to Seller, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will restore such Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Seller, its property manager, or their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections of the Real Property. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and shall not be merged into the Deed or other closing documents.

Appears in 3 contracts

Samples: www.sec.gov, Real Estate Contract (Resource Real Estate Opportunity REIT, Inc.), Real Estate Contract (Resource Real Estate Opportunity REIT, Inc.)

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Inspections in General. Commencing on from the Effective DateDate and continuing through and including the Close of Escrow, PurchaserBuyer, its agents, and employees shall have a limited license (the right "LICENSE") to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s Buyer's sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 48 hours prior notice to Seller or Seller's agent, and Seller or Seller’s 's agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to such inspections shall not interfere with the rights of tenants under their Leases and except the tenant. Notwithstanding anything stated to the extent specifically prohibited contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property and Buyer shall not contact or speak to the tenant unless Buyer provides Seller with no less than twenty-four (24) hours prior written notice of such tenants’ Leasesintention and Seller or Seller's representative is present during such inspections and/or discussions with the tenant; any discussions with the tenant must be limited to its existing tenancy and premises and may not involve any lease renegotiations. Provided Purchaser does not purchase Seller agrees to make itself or its agents available at any reasonable time during the Property Due Diligence Period to meet with Buyer and/or Buyer's representatives for any reason other than purposes of conducting interviews with the tenant and/or inspecting its space. Buyer shall have the right to interview Seller’s breach 's property manager and Seller's asset manager, which are responsible for the day-to-day operation of its obligations under this Contract, within ten (10) days after the Property. At Seller’s 's request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller's trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s 's and materialmen’s 's liens and Seller’s and property manager’s 's attorneys' fees, arising out of or in connection with Purchaser’s or Buyer's, its agents, contractors, employees, or invitees entry on the Real Property and any inspections upon or inspection of the Real Property. The License may be revoked by Seller at any time after a default by Buyer in the performance of its obligations under this Agreement and shall in any event be deemed revoked upon termination of this Agreement. The provisions of this paragraph SECTION 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Behringer Harvard Mid Term Value Enhancement Fund I Lp), Purchase and Sale Agreement (Behringer Harvard Mid Term Value Enhancement Fund I Lp)

Inspections in General. Commencing on from the Effective DateDate and continuing through and including the expiration of the Due Diligence Period, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 twenty-four (24) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless, in each case, Buyer provides Seller with no less than twenty-four (24) hours prior written notice of such intention and Seller or Seller’s representative has the opportunity to be present during such inspections and/or discussions with tenant; any discussions with tenants shall immediately cease at the tenant’s request from Purchaserand any discussions with tenants must be limited to their existing tenancy, Seller the Property generally, and their premises, and may not involve any lease renegotiations unless approved by Indemnitee. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the Buyer’s inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, actual out-of-pocket costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s materialmens’ liens and Seller’s and property manager’s reasonable out of pocket attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry on the Real Property and any inspections upon or inspection of the Real Property; provided the foregoing shall not cover any claims and liabilities (a) to the extent caused by Seller or any indemnified party, or (b) relating to a pre-existing matter to the extent merely discovered and not exacerbated by Buyer. The License may be revoked by Seller at any time and shall in any event be deemed revoked upon termination of this Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (KBS Real Estate Investment Trust, Inc.)

Inspections in General. Commencing on from the Effective DateDate and continuing through and including the expiration of the Due Diligence Period, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller and Property Owners with a certificate of insurance naming Seller and Property Owners as an additional insured and with an insurer and insurance limits and coverage reasonably satisfactory to Seller. In addition, but solely to the extent of any employees engaged in such inspection (if any), Buyer, its agents, contractors, or subcontractors shall maintain, and shall have provided evidence that Purchaser maintains commercial general liability insurance reasonably satisfactory to Seller of Workers Compensation Insurance (including a Waiver of Subrogation endorsement in favor of Seller) with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregateamounts required by the applicable statutes of either the state where (a) such entry occurs, issued by an insurer acceptable to Selleror (b) employees of the Buyer, in form and substance acceptable to Seller and which names Seller and its property manager agents, contractors, or subcontractors, as additional insureds under such insuranceapplicable, are domiciled. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 twenty-four (24) hours prior notice (including telephonic or e-mail notice) to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less twenty-four (24) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s materialmens’ liens and Seller’s and property manager’s reasonable attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry on the Real Property and any inspections upon or inspection of the Real Property, except to the extent caused by the gross negligence or willful misconduct of Seller or Seller’s trustees, officers, tenants, agents, contractors or employees. The License shall be revoked upon termination of this Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Membership Interest Purchase and Sale Agreement (KBS Real Estate Investment Trust II, Inc.)

Inspections in General. Commencing on from the Effective DateDate and continuing through and including the expiration of the Closing Date or earlier termination of this Agreement, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License") to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 48 hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, nor shall Buyer contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than forty-eight (48) hours prior written notice of such intention and request from Purchaser, Seller or Seller’s representative is given the opportunity to be present during such inspections and/or discussions with tenants; any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations and such inspections shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry on the Real Property and any inspections upon or inspection of the Real Property. The License shall be deemed revoked upon termination of this Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (Republic Property Trust)

Inspections in General. Commencing on Before any inspection of the Effective Date, Property by Purchaser, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to any entry onto the Real Property, Purchaser shall provide satisfy Seller with evidence that Purchaser maintains commercial general insurance coverage for the inspection activities taken thereon and potential liability insurance in connection therewith and naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under . Any such insurance. All inspection of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior notice to Seller or Seller’s agent which notice shall include the scope of the inspection or test proposed, and Seller or Seller’s agent shall have the right to accompany Purchaser during any inspection or testing activities performed by Purchaser on the Real Property. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser shall provide Seller with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Purchaser, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies. No inspection shall disturb the Property or be invasive. PURCHASER SHALL DEFEND, reportsINDEMNIFY SELLER AND HOLD SELLER, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real PropertySELLER’S PARTNERS, Purchaser will restore such Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of SellerINVESTORS, its property managerTRUSTS, or their respective trusteesTRUSTEES, directorsPLAN PARTICIPANTS, affiliatesTENANTS, parentsCONTRACTORS AND THEIR EMPLOYEES, shareholdersOFFICERS AND AGENTS (COLLECTIVELY, officersTHE “SELLER INDEMNITEES”), tenantsAND THE PROPERTY HARMLESS FROM AND AGAINST ANY AND ALL LOSSES, partnersCOSTS, agentsDAMAGES (BUT EXCLUDING CONSEQUENTIAL DAMAGES), counselCLAIMS, contractors and employeesOR LIABILITIES, Purchaser shall indemnifyARISING OUT OF OR IN CONNECTION WITH PURCHASER’S INSPECTION OF THE PROPERTY AS ALLOWED HEREIN, defendINCLUDING BUT NOT LIMITED TO, and hold harmless SellerCLAIMS BY TENANT, its property managerMECHANIC’S AND MATERIALMEN’S LIENS AND THE REASONABLE ATTORNEY’S FEES OF THE SELLER INDEMNITEES RELATING TO DEFENDING AGAINST SUCH LOSSES, and their respective trusteesCOSTS, directorsDAMAGES, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections of the Real Property. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsCLAIMS OR LIABILITIES.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Brightpoint Inc)

Inspections in General. Commencing on During the Effective DateDue Diligence Period, Purchaserand provided this Agreement is not sooner terminated, through and including the Closing Date (provided, however, that Buyer shall have no right to terminate this Agreement pursuant to Paragraph 2.5 below as a result of due diligence inspections following the expiration of the Due Diligence Period), Buyer, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections inspections, which shall be deemed to include a Phase I environmental inspection and, subject to Seller’s prior written approval which shall not be unreasonably withheld, Buyer’s inspection of the EIFS building cladding system, in each case, at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable to Seller, in form and substance acceptable to naming Seller and which names Seller and its property manager Property Owner as additional insureds under such insuranceand with an insurer and insurance limits and coverage reasonably satisfactory to Seller. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior written notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property; provided, however, that Buyer shall be entitled to perform such scheduled activities irrespective of whether Seller or Seller’s agent is unable to attend a previously scheduled activity for which the requisite notice to Seller was given in accordance with this Section 2.3. Buyer shall not contact any tenant of the Property, any employee of Seller or Property Owner, any governmental agency or instrumentality (other than customary inquiries to complete a Phase I environmental investigation and to confirm the zoning status and conformance of the Property with applicable laws) , or any other third person regarding the Interests, Property Owner or the Property without the prior written consent of Seller. Upon reasonable prior written notice and request from PurchaserBuyer, Seller shall notify tenants of the Real Property and permit Purchaser Buyer to view occupied units, subject to the rights of tenants under their Leases leases and except to the extent specifically prohibited in such tenants’ Leasesleases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser Buyer shall provide Seller Seller, without representation or warranty, with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such party tests and inspections (collectivelyobtained by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of physically damages the Real Property, Purchaser Buyer will restore such Real physical damage caused to the Property to substantially the same condition as existed before the such inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify and hold Property Owner, Seller, its property managerSeller’s partners, or their respective trusteesmembers, managers, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Property (collectively, “Indemnified Parties”) harmless from and against any and all losses, costs, actual damages (and not consequential, special, exemplary or punitive damages), claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s reasonable attorneys’ feesfees (collectively, “Claims”), to the extent such Claim (1) is suffered by, or asserted by any third party against an Indemnified Party and (2) arises out of or is in connection with Buyer’s inspection of the Property as allowed herein; provided, however, this indemnity shall not apply to any Claims to the extent arising out of the gross negligence or in connection with Purchaserintentional misconduct of any Indemnified Parties or any pre-existing adverse condition or defect affecting the Property not caused by but merely revealed, and not exacerbated, by Buyer’s or its agents’ entry on the Real Property and any inspections of the Real Propertyinvestigations. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Membership Interest Purchase and Sale Agreement (Cottonwood Communities, Inc.)

Inspections in General. Commencing on During the Effective DateDue Diligence Period, Purchaser, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to any entry onto the Real Property, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability insurance with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Purchaser shall not contact any tenant of the Property, any employees of Seller, any governmental agency or instrumentality, or any other third person regarding the Property without the prior written consent of Seller. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to the rights of tenants under their Leases leases and except to the extent specifically prohibited in such tenants’ Leasesleases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser shall provide Seller with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Purchaser, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will restore such Real the Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Purchaser shall defend, indemnify Seller and hold Seller, its property managerSeller’s members, or their respective trusteesofficers, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections inspection of the Real PropertyProperty as allowed herein. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Asset Capital Corporation, Inc.)

Inspections in General. Commencing on During the Effective DateDue Diligence Period and thereafter until the Closing Date or earlier termination of this Agreement, Purchaser, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s 's sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to . Seller and which names Seller and its property manager hereby approves the certificate attached hereto as additional insureds under such insurance. Exhibit E. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours one (1) Business Days' prior notice to Seller, and Seller or Seller’s 's agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Purchaser shall not contact any other tenant of the Property, any employees of Seller, any governmental agency or instrumentality (except that Purchaser may, without Seller's consent, contact municipal authorities to confirm the zoning of the Property), or any other third person regarding the Property without the prior written consent of Seller. Upon reasonable at least two (2) Business Days' prior written notice and request from Purchaser, Seller shall notify other tenants of the Real Property and permit Purchaser to view occupied unitsoffice space, subject to the rights of other tenants under their Leases leases and except to the extent specifically prohibited in such tenants’ Leases' leases. Provided Purchaser does not purchase the Property for any reason other than At Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s 's request, Purchaser shall provide Seller with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections made by Purchaser (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as subject to the accuracylimitations contained in Paragraph 2.2, completeness or any other matter regarding such reportsabove), tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will restore such Real the Property to substantially the same condition as existed before the inspection or test. Except to PURCHASER SHALL DEFEND, INDEMNIFY SELLER AND HOLD SELLER, SELLER'S MEMBERS, MANAGERS, OFFICERS, TENANTS, AGENTS, CONTRACTORS AND EMPLOYEES, SELLER'S AFFILIATES (HEREINAFTER DEFINED) AND THE PROPERTY HARMLESS FROM AND AGAINST ANY AND ALL ACTIONS, LOSSES, COSTS, DAMAGES, CLAIMS, OR LIABILITIES, INCLUDING, BUT NOT LIMITED TO, MECHANIC'S AND MATERIALMEN'S LIENS AND SELLER'S ATTORNEYS' FEES, ARISING OUT OF OR IN CONNECTION WITH PURCHASER'S INSPECTION OF THE PROPERTY AS ALLOWED HEREIN OR OTHERWISE; PROVIDED, HOWEVER, THAT PURCHASER SHALL NOT BE LIABLE OR RESPONSIBLE FOR COSTS OR DAMAGES ARISING FROM THE MERE DISCOVERY OF ANY EXISTING PROPERTY CONDITION. "Seller's Affiliates" means (a) any entity that directly or indirectly controls, is controlled by or is under common control with the extent arising out of the negligence or willful misconduct of Seller, its property manageror (b) any entity at least a majority of whose economic interest is owned by Seller; and the term "control" means the power to direct the management of such entity through voting rights, ownership or their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections of the Real Propertycontractual obligations. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Cyberonics Inc)

Inspections in General. Commencing on from the Effective DateDate and continuing through and including the expiration of the Due Diligence Period, PurchaserBuyer, its agents, and employees shall have a limited license (the right "License") to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s Buyer's sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser it maintains commercial general liability insurance with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and with insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 48 hours prior notice to Seller or Seller's agent, and Seller or Seller’s 's agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable prior written notice Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, Buyer shall not contact or speak to any of the tenants under the Leases, and request from Purchasersuch inspections shall not unreasonably interfere with the rights of tenants; provided, Seller however, notwithstanding the foregoing, Buyer shall notify tenants of have the right to inspect occupied space in the Real Property and permit Purchaser to view occupied unitscontact or speak to tenants provided that (a) Buyer provides Seller with no less than 24 hours prior written notice of such intention, subject (b) Seller or Seller's representative is present (unless Seller waives such requirement)during such inspections and/or discussions with tenants, and (c) any discussions with tenants is limited to the rights of tenants under their Leases existing tenancy and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser premises and does not purchase the Property for involve any reason other than lease renegotiations. At Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s 's request, Purchaser Buyer shall provide Seller (at no cost to Seller and without any representation or warranty by Buyer) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data any appraisals and any internal financial audits or analyses prepared by or for Purchaserreports relating to the Property. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property managerSeller's trustees, or their respective trusteesbeneficiaries, officers, directors, affiliatesmembers, parentsrepresentatives, principals, partners, shareholders, officers, tenants, partnersemployees, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, tenants and hold the Real Property harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s 's and materialmen’s 's liens and Seller’s and property manager’s 's attorneys' fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections Buyer's inspection of the Real Property; provided that Buyer shall not be responsible for indemnifying or holding any such parties harmless for the mere discovery of any existing condition at the Property. The License shall be deemed revoked upon termination of this Agreement. The provisions of this paragraph shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (Wells Real Estate Investment Trust Inc)

Inspections in General. Commencing on Prior to the Effective Closing Date, Purchaser, its agents, and employees shall have the right to enter upon the Real Property upon reasonable prior notice to Seller (which notice shall not be required to comply with the provisions of Section 10.11 hereof, and may be delivered electronically to xxxxxxxx@xxxxxxxxxxx.xxx) for the purpose of making non-non- invasive inspections at Purchaser’s sole risk, cost and expense. Prior to any entry onto the Real Property, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability insurance with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours (except to the extent that the nature of investigations requires access at other times) and after at least 24 hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon Prior to Closing, upon reasonable prior written notice and request from Purchasergiven by Purchaser to Seller, Purchaser shall have the right to contact Tenants, provided Seller shall notify tenants of have the Real Property right to be present during any such Tenant contacts. Purchaser 400 X. Xxxxxxxxx PSA 6 shall utilize its best efforts to minimize any disruption to Tenants and permit Purchaser to view occupied unitsTenants’ licensees, subject to the rights of tenants under their Leases invitees, employees and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase agents at the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s requestduring such inspections. If Purchaser defaults hereunder, Purchaser shall provide Seller with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Purchaser, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will immediately restore such Real the Property to substantially the same condition as existed immediately before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Purchaser shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections inspection of the Real PropertyProperty as allowed herein, but excluding any liability associated with or arising out of pre-existing conditions brought to light by Purchaser’s inspections. The provisions of this paragraph Such indemnification shall survive the Closing or Date for a period of one (1) year. Prior to entering the earlier termination Property, Purchaser shall provide Seller with a certificate of this Contract and shall not be merged into the Deed or other closing documentsinsurance in an amount reasonably acceptable to Seller showing Seller as additional insured.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Cole Corporate Income Trust, Inc.)

Inspections in General. Commencing on During the Effective DateInspection Period, Purchaser, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser shall provide Seller with evidence that Purchaser maintains a certificate of insurance confirming the existence of commercial general liability insurance policy naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 48 hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to the rights of tenants under their Leases leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaserleases. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of SellerPurchaser shall indemnify, defend, and hold harmless Seller and its property manager, or their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholdersmembers, officers, tenants, partners, agents, counsel, contractors and employees (collectively, the “Seller Affiliates”) and the Real Property from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ agents entry on the Real Property and any inspections of the Real Property, including but not limited to, attorney’s fees and mechanic’s and materialmen’s liens associated with breach of this Section 2.3. Notwithstanding the foregoing, Purchaser’s indemnification obligations under this Paragraph 2.3 shall not extend to (i) any pre-existing conditions found by Purchaser or (ii) the gross negligence or willful misconduct of Seller or any Seller Affiliate. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and shall not be merged into the Deed or other closing documents.

Appears in 1 contract

Samples: Real Estate Contract (Resource Apartment REIT III, Inc.)

Inspections in General. Commencing Beginning on the Effective Datedate that a fully-executed copy of this Agreement is deposited with Escrow Agent and continuing for 60 days thereafter (the “Due Diligence Period”), Purchaser, Buyer and its agents, and employees agents shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior Any entity/individual entering the Property pursuant to any entry onto the Real PropertyLicense shall, Purchaser shall prior to entry, provide Seller with evidence that Purchaser maintains commercial a certificate of insurance naming Seller as an additional insured and with an insurer and insurance limits and coverage reasonably satisfactory to Seller (which coverage shall include, at a minimum, general liability, personal injury and broad form property damage with limits of liability insurance with coverage in an amount not less than $2,000,000 1,000,000 combined single limit per occurrence and $5,000,000 2,000,000 aggregate, issued by an insurer acceptable to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance). All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 48 hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”)excluding only market and economic feasibility studies; provided however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser Buyer shall not be obligated liable for any such material provided to provide any market or economic feasibility studies, reports, data or analyses prepared by or for PurchaserSeller. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such Real the Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify and hold Seller, its property managerSeller’s members, or their respective trustees, directors, affiliates, parents, shareholdersmanagers, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmenmaterial men’s liens and Seller’s and property manager’s reasonable attorneys’ fees, arising out of or in connection with PurchaserBuyer’s or its agents’ entry on the Real Property and any inspections upon or inspection of the Real Property. Notwithstanding the foregoing, Buyer’s indemnity, defense and hold harmless obligations hereunder shall not apply to any pre-existing condition that is discovered by Buyer during the course of Buyer’s exercise of the License rights or to Seller’s negligence; PROVIDED, HOWEVER, Buyer shall be responsible for any exacerbation, increase or aggravation of any pre-existing condition that is caused (directly or indirectly) by Buyer’s exercise of the License rights granted herein. The License may be revoked by Seller at any time and shall in any event be deemed revoked upon termination of this Agreement. The provisions of this paragraph Paragraph 6.A shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Joint Escrow Instructions

Inspections in General. Commencing on from the Effective DateDate and continuing through and including the expiration of the Due Diligence Period, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with a certificate of insurance naming Seller as an additional insured and with an insurer and insurance limits and coverage reasonably satisfactory to Seller. In addition, Buyer, its agents, contractors, or subcontractors shall maintain, and shall have provided evidence that Purchaser maintains commercial general liability insurance reasonably satisfactory to Seller of Workers Compensation Insurance (including a Waiver of Subrogation endorsement in favor of Seller) with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregateamounts required by the applicable statutes of either the state where (a) such entry occurs, issued by an insurer acceptable to Selleror (b) employees of the Buyer, in form and substance acceptable to Seller and which names Seller and its property manager agents, contractors, or subcontractors, as additional insureds under such insuranceapplicable, are domiciled. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 twenty-four (24) hours prior written notice to Seller or Seller’s agent (which may be by electronic mail to Xxxxx Xxxxxx at xxxxx.xxxxxx@xxxxxxxxxxxxxx.xxx and Xxxxxxx Xxxxxx at Xxxxxxx.xxxxxx@xxxxxxxxx.xxx, with a copy to Xxx Xxxxxxxx at xxxxxxxxx@xxx.xxx), and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than twenty-four (24) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not unreasonably interfere with the rights of tenants under their Leases tenants. All inspections shall be made in accordance with all applicable laws (including, without limitation, any federal, state, and except to local law and guidance issued by the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase Centers for Disease and Control and Prevention, the Property State of California, and local health authorities for any reason other than Seller’s breach the limitation of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy the spread of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections infectious diseases (collectivelyincluding, the “Purchaser’s Reports”without limitation, COVID-19); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied), as to well as any infectious disease related (including, without limitation, COVID-19) property access procedures that may reasonably be adopted by the accuracy, completeness tenants or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for PurchaserSeller. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to a condition substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilitiesliabilities (but excluding consequential or punitive damages), including but not limited to, mechanic’s mechanics’ and materialmen’s liens materialmens’ liens, any claims and liabilities relating to the handling of hazardous materials by Buyer, its employees, agents, contractors or representatives, any claims and liabilities arising from a purported infection from an infectious disease, including, without limitation, COVID-19, or other loss or liabilities relating to an infectious disease, including, without limitation, COVID-19, and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry on the Real Property and any inspections upon or inspection of the Real Property. The License may be revoked by Seller at any time and shall in any event be deemed revoked upon termination of this Agreement. Buyer hereby accepts the risk that it or its employees, agents or contractors may contract COVID-19 and/or other infectious disease as a result of coming onto the Property and/or entering the building located at the Property. In addition, Buyer shall cause all its employees, agents or contractors to execute and deliver to Seller prior to coming onto the Property such waivers and release of claims as Seller shall reasonably require with respect to the contracting of COVID-19 and/or other infectious diseases while present at the Property; provided, however, that in no event does Buyer provide any representation, warranty or other assurance that any such waiver and/or release is or will be enforceable. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and Agreement. Notwithstanding the foregoing, Buyer’s indemnification obligations set forth herein shall not be merged into extend to any claims to the Deed extent arising from or other closing documentsrelated to (i) a diminution in value of the Property caused solely by the disclosure to Seller regarding the discovery of any pre-existing hazardous materials at the Property, (ii) any release on or about the Property of any pre-existing hazardous materials at the Property, except and to the extent such release was contributed to or exacerbated by the negligence of Buyer or its agents, (iii) any conditions on or about the Property in existence as of the Effective Date, except and to the extent contributed to or exacerbated by the gross negligence of Buyer or its agents, or (iv) the gross negligence or willful misconduct of Seller or its agents.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (KBS Real Estate Investment Trust II, Inc.)

Inspections in General. Commencing on from the Effective DateDate and continuing through and including Closing or the sooner termination of this Agreement, PurchaserBuyer, its employees, agents, contractors, and employees subcontractors and shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage an insurer reasonably satisfactory to Seller in an the amount of not less than $2,000,000 1 million per occurrence and $5,000,000 aggregate3 million general aggregate on a per-occurrence basis. In addition, issued by an insurer acceptable to SellerBuyer, in form its agents, contractors, or subcontractors shall maintain, and substance acceptable shall have provided evidence reasonably satisfactory to Seller and which names Seller and of Workers Compensation Insurance (including a Waiver of Subrogation endorsement in favor of Seller) with coverage amounts required by the applicable statutes of either the state where (a) such entry occurs, or (b) employees of the Buyer, its property manager agents, contractors, or subcontractors, as additional insureds under such insuranceapplicable, are domiciled. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 twenty-four (24) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, such inspections shall not unreasonably interfere with the rights of tenants, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than twenty-four (24) hours prior written notice of such intention and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than or Seller’s breach of representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its obligations under this Contract, within ten (10) days after representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. At Seller’s request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s materialmens’ liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry on upon or inspection of the Real Property and any inspections Property, unless the claim is caused by the gross negligence or willful misconduct of Seller or its employees, agents, or contractors or arise from Buyer’s mere discovery of pre-existing conditions at the Real Property. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (KBS Real Estate Investment Trust II, Inc.)

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Inspections in General. Commencing on During the Effective Dateterm of this Agreement, Purchasereach Buyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property it is acquiring for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the any Real Property shall be at reasonable times during normal business hours and after at least 24 twenty-four (24) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the such Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in any Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than twenty-four (24) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to tenants. To the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for a consultant is engaged by Buyer to perform any reason other than Seller’s breach of its obligations under this Contracttests or inspections, within ten (10) days after at Seller’s request, Purchaser Buyer shall provide Seller (without any representation or warranty by Buyer as to such tests or inspections and at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelyinspections, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Properties harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s materialmens’ liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry upon or inspection of any Real Property, but expressly excluding any such losses, costs, damages, claims or liabilities arising from Buyer’s discovery of an existing condition on the any Real Property so long as Buyer’s actions do not exacerbate such condition (and then only to the extent, if any, Buyer’s tests or inspections actually exacerbate such condition) or arising from Seller’s negligence or willful misconduct. The License may be revoked by Seller in the event any inspections Buyer breaches any of the Real Propertyrestrictions and limitations set forth in this Section 4.3.1, and shall in any event be deemed revoked upon termination of this Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documents.Agreement. ACTIVE 31157768v21 ‑6‑

Appears in 1 contract

Samples: Portfolio Purchase and Sale Agreement and Escrow Instructions (KBS Real Estate Investment Trust III, Inc.)

Inspections in General. Commencing on from the Effective Date and continuing through and including the Closing Date, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with a certificate of insurance naming Seller as an additional insured and with an insurer and insurance limits and coverage reasonably satisfactory to Seller. In addition, Buyer, its agents, contractors, or subcontractors shall maintain, and shall have provided evidence that Purchaser maintains commercial general liability insurance reasonably satisfactory to Seller of Workers Compensation Insurance (including a Waiver of Subrogation endorsement in favor of Seller) with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregateamounts required by the applicable statutes of either the state where (a) such entry occurs, issued by an insurer acceptable to Selleror (b) employees of the Buyer, in form and substance acceptable to Seller and which names Seller and its property manager agents, contractors, or subcontractors, as additional insureds under such insuranceapplicable, are domiciled. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 forty-eight (48) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than forty-eight (48) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, to the extent arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry upon or inspection of the Real Property, but expressly excluding any such losses, costs, damages, claims or liabilities arising from Buyer’s discovery of a preexisting condition on the Real Property (so long as Buyer does not exacerbate any preexisting condition) or arising from Seller’s negligence or willful misconduct. The License may be revoked by Seller at any time and shall in any inspections event be deemed revoked upon termination of the Real Propertythis Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Option Agreement (KBS Growth & Income REIT, Inc.)

Inspections in General. Commencing on from the Effective Date and continuing through and including the Closing Date, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with a certificate of insurance naming Seller as an additional insured and with an insurer and insurance limits and coverage reasonably satisfactory to Seller. In addition, Buyer, its agents, contractors, or subcontractors shall maintain, and shall have provided evidence that Purchaser maintains commercial general liability insurance reasonably satisfactory to Seller of Workers Compensation Insurance (including a Waiver of Subrogation endorsement in favor of Seller) with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregateamounts required by the applicable statutes of either the state where (a) such entry occurs, issued by an insurer acceptable to Selleror (b) employees of the Buyer, in form and substance acceptable to Seller and which names Seller and its property manager agents, contractors, or subcontractors, as additional insureds under such insuranceapplicable, are domiciled. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 forty-eight (48) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Xxxxx on the Real Property. Upon reasonable Buyer shall be in compliance with the notice requirement contained in this Section 4.3.1. if email notice to Seller is provided to Xxxx Xxxxxxxx at Xxxxxxxxx@xxx.xxx , Xxxx Xxxxxxxxxx at xxxx.xxxxxxxxxx@xxxxxxxx.xxx and Xxxxxxxx Xxxxxxxx at Xxxxxxxx.xxxxxxxx@xxxxxxxxxxxx.xxx. Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than forty-eight (48) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available Buyer’s inspections and/or discussions with tenants. Inspections by Xxxxx shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies. All inspections shall be made in accordance with all applicable laws (including, reportswithout limitation, data any federal, state, and local law and guidance issued by the Centers for Disease and Control and Prevention, the State of Illinois, and local health authorities for the limitation of the spread of any infectious diseases (including, without limitation, COVID-19)), as well as any infectious disease related (including, without limitation, COVID-19) property access procedures that may reasonably be adopted by the tenants or analyses prepared by or for PurchaserSeller and provided to Buyer prior to Buyer’s access to the Property. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Xxxxx will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s liens materialmens’ liens, any claims and liabilities relating to the handling of hazardous materials by Buyer, its employees, agents, contractors or representatives, and Seller’s and property manager’s reasonable attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry upon or inspection of the Real Property, but expressly excluding any such losses, costs, damages, claims or liabilities arising from Buyer’s discovery of a pre-existing condition on the Real Property not caused by Buyer (so long as Buyer and Xxxxx’s representative did not exacerbate any inspections such pre-existing condition) or arising from Seller’s negligence or willful misconduct. The License shall be deemed revoked upon termination of this Agreement. Buyer hereby accepts the Real risk that it or its employees, agents or contractors may contract COVID-19 and/or other infectious disease as a result of coming onto the Property and/or entering the building located at the Property. In addition, Buyer shall cause all its employees, agents or contractors to execute and deliver to Seller prior to coming onto the Property such waivers and release of claims as Seller shall reasonably require with respect to the contracting of COVID-19 and/or other infectious diseases while present at the Property; provided, however, that in no event does Buyer provide any representation, warranty or other assurance that any such waiver and/or release is or will be enforceable. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (KBS Growth & Income REIT, Inc.)

Inspections in General. Commencing on During the Effective DateDue Diligence Period, Purchaser, Purchaser and its agents, and employees agents shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits (minimum $5 million) and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon reasonable prior written notice Purchaser shall not disturb the tenants on the Property, and request from Purchaser, Seller ’s inspection shall notify tenants of the Real Property and permit Purchaser to view occupied units, be subject to the rights of tenants under their Leases and except with respect to the extent specifically prohibited in such tenants’ LeasesNokia buildings, subject to an inspection schedule approved by Nokia. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) Within five days after Seller’s request, Purchaser shall provide Seller with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections made by or for Purchaser, excluding only market and economic feasibility studies (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will restore such Real the Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Seller, its property manager, or their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, defend and hold harmless Seller and Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, ’s tenants, partners, agents, counsel, contractors and employees and the Property from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, liabilities arising out of or in connection with any entry or inspections performed by Purchaser’s , its agents or its agents’ entry on the Real Property and any inspections of the Real Propertyrepresentatives. The provisions of this paragraph This indemnity shall indemnify such indemnitees for their simple, but not gross, negligence. This indemnity shall survive the Closing or the earlier closing and any termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)

Inspections in General. Commencing on from the Effective DateDate and continuing through and the Closing, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 twenty-four (24) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, and Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than twenty-four (24) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s materialmens’ liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry on the Real Property and any inspections upon or inspection of the Real Property. The License shall be deemed revoked upon termination of this Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (Armada Hoffler Properties, Inc.)

Inspections in General. Commencing on the Effective DateDate and continuing through and including the expiration of the Due Diligence Period, PurchaserBuyer, its agents, and employees shall have the right to enter upon the Real Property for the purpose of making non-invasive inspections limited license ("LICENSE"), at Purchaser’s Buyer's sole risk, cost and expense. Prior , to any entry onto examine and make physical studies, tests, inspections and assessments of the Real PropertyPurchased Assets and to conduct all other examinations, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability insurance with coverage inspections and investigations of the Purchased Assets to determine whether the Purchased Assets are in an amount not less than $2,000,000 per occurrence good operating order and $5,000,000 aggregate, issued by an insurer acceptable to Sellerrepair, in form compliance with applicable laws, statutes, codes, ordinances and substance acceptable regulations, and that the Purchased Assets are otherwise suitable so as to Seller permit the continued use and which names Seller and its property manager operation of the Facility by Buyer as additional insureds under such insurancea licensed nursing home. All physical tests, studies, inspections and assessments of such entries upon the Purchased Assets at the Facility or otherwise on Real Property shall be conducted at reasonable times during normal business hours hours, and after at least 24 twenty-four (24) hours prior notice to Seller or Seller's agent, and Seller or Seller’s 's agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer at the Facility or otherwise on the Real Property. Upon reasonable prior written notice Any inspection, examination or test conducted by Seller will be conducted in a good and request from Purchaserworkmanlike manner, Seller promptly prosecuted to completion, shall notify tenants not unreasonably interfere with Seller's use of the Real Property Purchased Assets will not violate any law or regulation of any governmental entity having jurisdiction over the Purchased Assets, and permit Purchaser to view occupied units, will be subject to the any security, health, safety or privacy requirements or rights of tenants under their Leases the residents and except to employees of the extent specifically prohibited in such tenants’ LeasesFacility. Provided Purchaser does not purchase the Property for any reason other than At Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s 's request, Purchaser Buyer shall provide Seller (at no cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelymade by Buyer, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller's trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s 's and materialmen’s 's liens and Seller’s and property manager’s 's reasonable attorneys' fees, arising out of or in connection with Purchaser’s or Buyer's, its agents, contractors, employees, or invitees entry on upon or inspection of the Real Property made pursuant to this Section 4.3.1. The License may be revoked by Seller at any time if Buyer does not comply with the provisions of this Section 4.3.1 and shall in any inspections event be deemed revoked upon termination without Closing of the Real Propertythis Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Advocat Inc)

Inspections in General. Commencing on During the Effective DateDue Diligence Period, Purchaser, Purchaser and its agents, and employees Consultants shall have the right to enter upon the Real Property for the purpose of making non-physically invasive inspections at Purchaser’s sole risk, cost and expense. Prior Seller agrees to cooperate reasonably with any entry onto the Real Propertysuch investigations, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability insurance with coverage in an amount not less than $2,000,000 per occurrence tests, samplings, analyses, inspections, studies or meetings and $5,000,000 aggregate, issued interviews made by an insurer acceptable to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insuranceor at Purchaser’s direction. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior notice to Seller or Seller’s agent (which notice may be provided telephonically or via email to Xxxxxxx Xxxx: (000) 000-0000 or xxxxxxx.xxxx@xxxxxxxxxxxxxxxxxxx.xxx), and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon reasonable prior written notice Purchaser shall not disturb the tenants on the Property, and request from Purchaser, Seller ’s inspection shall notify tenants of the Real Property and permit Purchaser to view occupied units, be subject to the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after At Seller’s request, Purchaser shall provide Seller Seller, without warranty, with a copy of any written the final reports from third-made by third parties actually received by Purchaser with regard to such tests and inspections (collectively, the “Purchaser’s Reports”); however, the furnishing of copies on behalf of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaserstudies and privileged materials. If any inspection or test disturbs all or any portion of damages the Real Property, Purchaser will restore repair such Real damage consistent with the condition of the Property to substantially the same condition as existed before the inspection or test. Except ; provided, however, Purchaser shall have no obligation to repair any damage to the extent arising out of the caused by Seller’s negligence or willful misconduct of misconduct, to remediate, contain, xxxxx or control any materials not placed on the Property by Purchaser or its Consultants, or to repair or restore any latent condition discovered by Purchaser or its Consultants (as long as Purchaser or its Consultants take reasonable steps not to exacerbate such condition once discovered by Purchaser). Purchaser shall defend, indemnify Seller and hold Seller, together with its property manageraffiliates, or their respective trusteesparent and subsidiary entities, successors, assigns, partners, managers, members, employees, officers, directors, affiliates, parentstrustees, shareholders, officerscounsel, tenants, partnersrepresentatives, agents, counselproperty manager and regional property manager (collectively, contractors and employees, Purchaser shall indemnify, defend, and hold harmless with Seller, its property manager, “Seller’s Indemnified Parties”) and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees the Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with from Purchaser’s or its agents’ Consultants entry on onto the Real Property Property, and any inspections performed (or other related actions) by Purchaser with respect to the Property; provided, however, that the foregoing indemnity shall not extend to, and in no event shall Purchaser be liable to any of Seller’s Indemnified Parties for any (i) negligence or misconduct of any of Seller’s Indemnified Parties, (ii) pre-existing condition(s) on or about the Property (except any incremental damage resulting from the exacerbation of such pre-existing condition(s) by Purchaser’s and/or any party acting under Purchaser’s direction for entry onto and investigation of the Real PropertyProperty after their discovery of such pre-existing condition(s)), (iii) the displacement or disturbance of materials (to the extent the investigations resulting in such displacement or disturbance are permitted hereunder) not placed on the Property by Purchaser or its Consultants or (iv) any diminution in value in the Property arising from, or related to, matters discovered by any inspections. The provisions of this paragraph shall survive the Closing or the earlier indefinitely any termination of this Contract and Agreement. Before any entry, Purchaser shall not be merged into provide Seller with a certificate of insurance evidencing the Deed or other closing documents.following coverages:

Appears in 1 contract

Samples: Purchase and Sale Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)

Inspections in General. Commencing on from the Effective Date and continuing through and including the Closing Date, Purchaser, its agents, agents and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured, with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours 48 hours’ prior notice to Seller, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon reasonable prior written notice and request from Notwithstanding anything stated to the contrary herein, Purchaser, Seller shall notify tenants ’s right to inspect any of the occupied space in the Real Property and permit Purchaser to view occupied units, shall be subject to the terms and conditions of the Lease with respect to such space, and such inspections shall not interfere with the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectively, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will shall restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Purchaser shall defend, indemnify Seller and hold Seller, its property managerSeller’s, or their respective trusteesshareholders, directors, affiliatesmembers, parentsmanagers, shareholderspartners, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or claims and liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections inspection of the Real Property. The License shall be deemed revoked upon termination of this Agreement. The provisions of this paragraph section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and Agreement. Notwithstanding anything stated to the contrary herein, Purchaser’s rights under this Section 4.3.1 to inspect the Real Property after the Due Diligence Deadline shall not be merged into deemed or construed to extend the Deed Due Diligence Deadline, or other closing documentsgive Purchaser any additional rights to terminate this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (Inland Western Retail Real Estate Trust Inc)

Inspections in General. Commencing on During the Effective Dateterm of this Agreement, PurchaserBuyer, its agents, and employees shall have a limited license (the right “License”) to enter upon the Real Property for the purpose of making non-invasive inspections at PurchaserBuyer’s sole risk, cost and expense. Prior to Before any entry onto the Real Propertysuch entry, Purchaser Buyer shall provide Seller with evidence that Purchaser maintains commercial general liability a certificate of insurance naming Seller as an additional insured and with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable and insurance limits and coverage reasonably satisfactory to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 forty-eight (48) hours prior notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser Buyer during any activities performed by Purchaser Buyer on the Real Property. Upon reasonable Notwithstanding anything stated to the contrary herein, Buyer shall have no right to inspect any of the occupied space in the Real Property, Buyer shall not contact or speak to any of the tenants under the Leases, unless Buyer provides Seller with no less than forty-eight (48) hours prior written notice of such intention and Seller or Seller’s representative is present during such inspections and/or discussions with tenants; any discussions with tenants shall immediately cease at the tenant’s request from Purchaser, and any discussions with tenants must be limited to their existing tenancy and premises and may not involve any lease renegotiations. Seller agrees to make itself or its representatives reasonably available to be present during Buyer’s inspections and/or discussions with tenants. Inspections by Buyer shall notify tenants of the Real Property and permit Purchaser to view occupied units, subject to not interfere with the rights of tenants under their Leases and except to tenants. To the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for a consultant is engaged by Buyer to perform any reason other than Seller’s breach of its obligations under this Contracttests or inspections, within ten (10) days after at Seller’s request, Purchaser Buyer shall provide Seller (at reasonable cost to Seller) with a copy of the results of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectivelyinspections, the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests excluding only market and inspections nor shall Seller have any right to use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser Buyer will restore such the Real Property to substantially the same condition as existed before the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Buyer shall defend, indemnify Seller and hold Seller, its property manager, or their respective Seller’s trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel, contractors and employees and the Real Property harmless from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s mechanics’ and materialmen’s materialmens’ liens and Seller’s and property manager’s attorneys’ fees, arising out of or in connection with Purchaser’s Buyer’s, or its agents’, contractors’, employees’, or invitees’ entry upon or inspection of the Real Property but expressly excluding any such losses, costs, damages, claims or liabilities arising from Buyer’s discovery of an existing condition on the Real Property so long as Buyer’s actions do not exacerbate such condition (and then only to the extent, if any, Buyer’s tests or inspections actually exacerbate such condition) or arising from Seller’s negligence or willful misconduct. The License may be revoked by Seller at any inspections time and shall in any event be deemed revoked upon termination of the Real Propertythis Agreement. The provisions of this paragraph Section 4.3.1 shall survive the Closing Close of Escrow or the earlier termination of this Contract and shall not be merged into the Deed or other closing documentsAgreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Escrow Instructions (KBS Strategic Opportunity REIT, Inc.)

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