Common use of Property Access Clause in Contracts

Property Access. a. Subject to, and in accordance with, the terms and conditions of this Agreement, Prospective Buyer and its agents, representatives and consultants (each an “Accessing Party” and collectively “Accessing Parties”) shall have the non-exclusive right to access the Property in order to inspect same. Notwithstanding anything to the contrary herein, all access of the Property by Prospective Buyer and the Accessing Parties must be scheduled with at least forty-eight (48) hours advance notice with Receiver’s existing property manager of the Property, and Prospective Buyer and the Accessing Parties shall be entitled to enter the Property only when accompanied by a representative of said property manager of the Property. Prospective Buyer agrees that all requests for tenant interviews will be submitted directly to the Receiver’s existing property manager prior to taking any action by Prospective Buyer or any Accessing Party. Without the prior written consent of Receiver and the applicable tenant, neither Buyer nor any Accessing Party shall contact any tenant. All inspections shall be at Prospective Buyer’s sole risk and sole expense, and shall be undertaken in compliance with all applicable laws, regulations and ordinances. Receiver assumes no responsibility whatsoever for the safe condition, security or maintenance of the Property and any improvements thereon, nor for the protection of persons and property thereon. In the event that Prospective Buyer or any of the Accessing Parties damages the Property, Receiver shall have the right, but not the obligation, to repair such damage itself in which case Prospective Buyer shall reimburse Receiver for the cost of such repairs upon demand. b. Prospective Buyer shall indemnify, defend and hold harmless Receiver and Receiver’s successors and assigns from and against all claims, actions, losses, liabilities, damages, costs and expenses (including attorneys’ fees and costs) incurred, suffered by or claimed against Receiver by reason of any damage to the Property or injury to persons (including any of the Accessing Parties) caused by Prospective Buyer and/or any of the Accessing Parties or arising out of or in any way connected with their entry upon the Property and/or the performance of any inspections thereto. Prospective Buyer’s obligations under this Section 3.b shall expressly survive termination of this Agreement. c. Before entering the Property, Prospective Buyer shall obtain and maintain, and shall cause each of the Accessing Parties to obtain and maintain (and shall deliver to Receiver certificates evidencing such coverage), at no cost to Receiver, general liability insurance from an insurer reasonably acceptable to Receiver, in the amount of Two Million Dollars ($2,000,000) combined single limit for personal injury and property damage per occurrence, such policies to name Receiver as an additional insured, which insurance shall provide coverage against any claim for personal liability or property damage caused by Prospective Buyer or any of the Accessing Parties. The insurance obtained by Prospective Buyer shall include a broad form contractual liability endorsement covering all indemnification obligations of Prospective Buyer under this Agreement. d. This Agreement does not constitute authorization for Prospective Buyer or the Accessing Parties to conduct any drilling, soil borings, penetrations of any structure, improvements or soil, or any other invasive tests or sampling of any kind on or about the Property, and in no event shall Prospective Buyer take (or cause or allow any of the Accessing Parties to take) any such actions. e. In no event shall this Section 3 be deemed to grant Prospective Buyer the exclusive right to access or inspect the Property or negotiate for the purchase or lease of the Property, it being acknowledged and agreed that Receiver may at any time grant other parties the right to access the Property and negotiate a potential transaction involving the Property.

Appears in 2 contracts

Samples: Confidentiality Agreement, Confidentiality Agreement

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Property Access. a. Subject to, and in accordance with, the terms and conditions of this Agreement, Prospective Buyer and its agents, representatives and consultants (each an “Accessing Party” and collectively “Accessing Parties”) shall have the non-exclusive right to access the Property in order to inspect same. Notwithstanding anything to the contrary herein, all access of the Property by Prospective Buyer and the Accessing Parties must be scheduled in advance with at least forty-eight (48) hours advance notice with Special Receiver’s existing property manager of the Property, and Prospective Buyer and the Accessing Parties shall be entitled to enter the Property only when accompanied by a representative of said property manager of the Property. Prospective Buyer agrees that all requests for tenant interviews will be submitted directly to the Receiver’s existing property manager prior to taking any action by Prospective Buyer or any Accessing Party. Without the prior written consent of Receiver and the applicable tenant, neither Buyer nor any Accessing Party shall contact any tenant. All inspections shall be at Prospective Buyer’s sole risk and sole expense, and shall be undertaken in compliance with all applicable laws, regulations and ordinances. Receiver assumes no responsibility whatsoever for the safe condition, security or maintenance of the Property and any improvements thereon, nor for the protection of persons and property thereon. In the event that Prospective Buyer or any of the Accessing Parties damages the Property, Receiver shall have the right, but not the obligation, to repair such damage itself in which case Prospective Buyer shall reimburse Receiver for the cost of such repairs upon demand. b. Prospective Buyer shall indemnify, defend and hold harmless Receiver and Receiver’s successors and assigns from and against all claims, actions, losses, liabilities, damages, costs and expenses (including attorneys’ fees and costs) incurred, suffered by or claimed against Receiver by reason of any damage to the Property or injury to persons (including any of the Accessing Parties) caused by Prospective Buyer and/or any of the Accessing Parties or arising out of or in any way connected with their entry upon the Property and/or the performance of any inspections thereto. Prospective Buyer’s obligations under this Section 3.b shall expressly survive termination of this Agreement. c. Before entering the Property, Prospective Buyer shall obtain and maintain, and shall cause each of the Accessing Parties to obtain and maintain (and shall deliver to Receiver certificates evidencing such coverage), at no cost to Receiver, general liability insurance from an insurer reasonably acceptable to Receiver, in the amount of Two Million Dollars ($2,000,000) combined single limit for personal injury and property damage per occurrence, such policies to name Receiver as an additional insured, which insurance shall provide coverage against any claim for personal liability or property damage caused by Prospective Buyer or any of the Accessing Parties. The insurance obtained by Prospective Buyer shall include a broad form contractual liability endorsement covering all indemnification obligations of Prospective Buyer under this Agreement. d. This Agreement does not constitute authorization for Prospective Buyer or the Accessing Parties to conduct any drilling, soil borings, penetrations of any structure, improvements or soil, or any other invasive tests or sampling of any kind on or about the Property, and in no event shall Prospective Buyer take (or cause or allow any of the Accessing Parties to take) any such actions. e. In no event shall this Section 3 be deemed to grant Prospective Buyer the exclusive right to access or inspect the Property or negotiate for the purchase or lease of the Property, it being acknowledged and agreed that Receiver may at any time grant other parties the right to access the Property and negotiate a potential transaction involving the Property.

Appears in 1 contract

Samples: Confidentiality Agreement

Property Access. a. Subject to, and in accordance with, the terms and conditions of this Agreement, Prospective Buyer and its agents, representatives and consultants (each an “Accessing Party” and collectively “Accessing Parties”) shall have the non-exclusive right to access the Property in order to inspect same. Notwithstanding anything to the contrary herein, all access of the Property by Prospective Buyer and the Accessing Parties must be scheduled with at least forty-eight (48) hours advance notice with ReceiverSpecial Master’s existing property manager of the Property, and Prospective Buyer and the Accessing Parties shall be entitled to enter the Property only when accompanied by a representative of said property manager of the Property. Prospective Buyer agrees that all requests for tenant interviews will be submitted directly to the ReceiverSpecial Master’s existing property manager prior to taking any action by Prospective Buyer or any Accessing Party. Without the prior written consent of Receiver Special Master and the applicable tenant, neither Buyer nor any Accessing Party shall contact any tenant. All inspections shall be at Prospective Buyer’s sole risk and sole expense, and shall be undertaken in compliance with all applicable laws, regulations and ordinances. Receiver Special Master assumes no responsibility whatsoever for the safe condition, security or maintenance of the Property and any improvements thereon, nor for the protection of persons and property thereon. In the event that Prospective Buyer or any of the Accessing Parties damages the Property, Receiver Special Master shall have the right, but not the obligation, to repair such damage itself in which case Prospective Buyer shall reimburse Receiver Special Master for the cost of such repairs upon demand. b. Prospective Buyer shall indemnify, defend and hold harmless Receiver Special Master and ReceiverSpecial Master’s successors and assigns from and against all claims, actions, losses, liabilities, damages, costs and expenses (including attorneys’ fees and costs) incurred, suffered by or claimed against Receiver Special Master by reason of any damage to the Property or injury to persons (including any of the Accessing Parties) caused by Prospective Buyer and/or any of the Accessing Parties or arising out of or in any way connected with their entry upon the Property and/or the performance of any inspections thereto. Prospective Buyer’s obligations under this Section 3.b shall expressly survive termination of this Agreement. c. Before entering the Property, Prospective Buyer shall obtain and maintain, and shall cause each of the Accessing Parties to obtain and maintain (and shall deliver to Receiver Special Master certificates evidencing such coverage), at no cost to ReceiverSpecial Master, general liability insurance from an insurer reasonably acceptable to ReceiverSpecial Master, in the amount of Two Million Dollars ($2,000,000) combined single limit for personal injury and property damage per occurrence, such policies to name Receiver Special Master as an additional insured, which insurance shall provide coverage against any claim for personal liability or property damage caused by Prospective Buyer or any of the Accessing Parties. The insurance obtained by Prospective Buyer shall include a broad form contractual liability endorsement covering all indemnification obligations of Prospective Buyer under this Agreement. d. This Agreement does not constitute authorization for Prospective Buyer or the Accessing Parties to conduct any drilling, soil borings, penetrations of any structure, improvements or soil, or any other invasive tests or sampling of any kind on or about the Property, and in no event shall Prospective Buyer take (or cause or allow any of the Accessing Parties to take) any such actions. e. In no event shall this Section 3 be deemed to grant Prospective Buyer the exclusive right to access or inspect the Property or negotiate for the purchase or lease of the Property, it being acknowledged and agreed that Receiver Special Master may at any time grant other parties the right to access the Property and negotiate a potential transaction involving the Property.

Appears in 1 contract

Samples: Confidentiality Agreement

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Property Access. a. Subject to, and in accordance with, the terms and conditions of this Agreement, Prospective Buyer (i) Each Party hereto and its agentsRepresentatives, representatives and consultants (each an “Accessing Party” and collectively “Accessing Parties”) subject to the rights of tenants under any leases, shall have the non-exclusive right and permission from and after the date hereof to access enter upon the Property in order to inspect same. Notwithstanding anything properties of the other, or any part thereof, at reasonable times, for the purpose of completing its inspections and studies thereof permitted hereunder; provided, however, a Party shall provide reasonable advance notice to the contrary herein, all access other prior to entry upon any such property so that a Representative of the Property by Prospective Buyer other Party may have the opportunity to be present during any inspections or studies conducted thereon and shall not unreasonably interfere with the Accessing Parties must be scheduled with at least forty-eight (48) hours advance notice with Receiver’s existing use, occupancy or operation of such property. A Party shall not perform any intrusive testing of any such property manager of the Property, and Prospective Buyer and the Accessing Parties shall be entitled to enter the Property only when accompanied by a representative of said property manager of the Property. Prospective Buyer agrees that all requests for tenant interviews will be submitted directly to the Receiver’s existing property manager prior to taking any action by Prospective Buyer or any Accessing Party. Without without the prior written consent of Receiver and the applicable tenantother party, neither Buyer nor any Accessing which consent shall not be unreasonably withheld, conditioned or delayed. Specifically, a Party shall contact any tenant. All inspections shall be at Prospective Buyer’s sole risk and sole expense, and shall be undertaken in compliance with all applicable laws, regulations and ordinances. Receiver assumes no responsibility whatsoever for the safe condition, security or maintenance of the Property and any improvements thereon, nor for the protection of persons and property thereon. In the event that Prospective Buyer or any of the Accessing Parties damages the Property, Receiver shall have the rightoption to obtain, but at its sole cost and expense, any such environmental reports and property condition reports as it may desire, or updates to any such existing reports, for any such property, and to obtain and/or undertake, at its sole cost and expense, any other studies, investigations, evaluations, assessments, or other reports relating to any such property or any aspects thereof. Notwithstanding anything in the foregoing to the contrary, the obligations of the EL Parties under this Section 7.1(b)(i) shall be limited to the Contributed Properties and the Alternate Properties, if applicable, with respect to which a Closing has not the obligation, to repair such damage itself in which case Prospective Buyer shall reimburse Receiver for the cost of such repairs upon demandyet occurred. b. Prospective Buyer (ii) With respect to each Contributed Property: (A) the ATA Parties shall indemnify, defend and hold harmless Receiver the EL Parties, the applicable Contributors, the Contributed Entity and Receiver’s successors its Subsidiaries, the Existing Manager and assigns the Property Owner from and against all claims, actions, losses, liabilities, damages, costs and expenses (including attorneys’ fees and costs) incurred, suffered by or claimed against Receiver by reason of any damage to the Property caused by the conduct by the ATA Parties of such inspection activities; (B) prior to any entry onto the Property, the ATA Parties shall deliver to ELRM evidence reasonably satisfactory to ELRM that the ATA Parties and all of their respective employees, agents, consultants and contractors entering onto the Property have obtained comprehensive general liability insurance naming ELRM, the applicable Contributors, the Contributed Entity and its Subsidiaries and the Property Owner and their respective agents and mortgagees as additional insureds, with such limits and written on such forms as are reasonably acceptable to ELRM; (C) upon the completion of any inspection or test, the ATA Parties shall promptly restore the Property substantially to its condition prior to such inspection or test; and (D) the ATA Parties shall keep the Property free and clear of any Liens and will indemnify, protect, defend, and hold harmless the EL Parties, the applicable Contributors, the Contributed Entity and its Subsidiaries, the Existing Manager and the Property Owner from and against all claims (including any claim for damage to property or injury to persons or death of any persons), liabilities, obligations, Liens, losses, damages, costs or expenses which directly result from entry onto the Property by the ATA Parties or their Representatives. (iii) With respect to each property of the ATA Parties: (A) ELRM shall indemnify, defend and hold harmless the ATA Parties and their Subsidiaries from any damage to such property caused by the conduct by the EL Parties of such inspection activities; (B) prior to any entry onto such property, the EL Parties shall deliver to ATA evidence reasonably satisfactory to ATA that the EL Parties and all of their respective employees, agents, consultants and contractors entering onto such property have obtained comprehensive general liability insurance naming the ATA Parties and their Subsidiaries and their respective agents and mortgagees as additional insureds, with such limits and written on such forms as are reasonably acceptable to ATA; (C) upon the completion of any inspection or test, the EL Parties shall promptly restore such property substantially to its condition prior to such inspection or test; and (D) the EL Parties shall keep such property free and clear of any Liens and will indemnify, protect, defend, and hold harmless the ATA Parties and their Subsidiaries from and against all claims (including any claim for damage to property or injury to or death of any persons), liabilities, obligations, Liens, losses, damages, costs or expenses which directly result from entry onto such property by the Accessing Parties) caused by Prospective Buyer and/or any of the Accessing EL Parties or arising out of or their Representatives. (iv) The indemnities set forth in any way connected with their entry upon the Property and/or the performance of any inspections thereto. Prospective Buyer’s obligations under this Section 3.b 7.1(b) shall expressly survive any Closing or termination of this Agreement. c. Before entering the Property, Prospective Buyer shall obtain and maintain, and shall cause each of the Accessing Parties to obtain and maintain (and shall deliver to Receiver certificates evidencing such coverage), at no cost to Receiver, general liability insurance from an insurer reasonably acceptable to Receiver, in the amount of Two Million Dollars ($2,000,000) combined single limit for personal injury and property damage per occurrence, such policies to name Receiver as an additional insured, which insurance shall provide coverage against any claim for personal liability or property damage caused by Prospective Buyer or any of the Accessing Parties. The insurance obtained by Prospective Buyer shall include a broad form contractual liability endorsement covering all indemnification obligations of Prospective Buyer under this Agreement. d. This Agreement does not constitute authorization for Prospective Buyer or the Accessing Parties to conduct any drilling, soil borings, penetrations of any structure, improvements or soil, or any other invasive tests or sampling of any kind on or about the Property, and in no event shall Prospective Buyer take (or cause or allow any of the Accessing Parties to take) any such actions. e. In no event shall this Section 3 be deemed to grant Prospective Buyer the exclusive right to access or inspect the Property or negotiate for the purchase or lease applicable statute of the Property, it being acknowledged and agreed that Receiver may at any time grant other parties the right to access the Property and negotiate a potential transaction involving the Propertylimitations.

Appears in 1 contract

Samples: Master Contribution and Recapitalization Agreement (Landmark Apartment Trust of America, Inc.)

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