Common use of Site Visits, Observation and Testing Clause in Contracts

Site Visits, Observation and Testing. Lender and its agents and representatives shall have the right upon notice to Borrower (except in the event of an emergency), at any reasonable time, to enter and visit the Project for the purpose of performing appraisals, observing the Project, taking and removing soil or groundwater samples, and conducting tests on any part of the Project. Lender has no duty, however, to visit or observe the Project or to conduct tests, and no site visit, observation or testing by Lender, its agents or representatives shall impose any liability on any of Lender, its agents or representatives. Neither Borrower nor any other party is entitled to rely on any site visit, observation or testing by any of Lender, its agents or representatives. Neither Lender, its agents nor representatives owe any duty of care to protect Borrower or any other party against, or to inform Borrower or any other party of any other adverse condition affecting the Project. Lender shall make reasonable efforts to avoid interfering with Borrower’s use of the Project in exercising any rights provided in this Section 4.2(q).

Appears in 2 contracts

Samples: Loan Agreement (Trade Street Residential, Inc.), Loan Agreement (Trade Street Residential, Inc.)

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Site Visits, Observation and Testing. Lender and its agents and representatives shall have the right upon notice to Borrower (except in the event of an emergency), at any reasonable time, to enter and visit the Project for the purpose of performing appraisals, observing the Project, taking and removing soil or groundwater samples, and conducting tests on any part of the Project. Lender has no duty, however, to visit or observe the Project or to conduct tests, and no site visit, observation or testing by Lender, its agents or representatives shall impose any liability on any of Lender, its agents or representatives. Neither Borrower nor any other party is entitled to rely on any site visit, observation or testing by any of Lender, its agents or representatives. Neither Lender, its agents nor representatives owe any duty of care to protect Borrower or any other party against, or to inform Borrower or any other party of any other adverse condition affecting the Project. Lender shall make reasonable efforts to avoid interfering with Borrower’s 's use of the Project in exercising any rights provided in this Section 4.2(q).

Appears in 1 contract

Samples: Loan Agreement (Trade Street Residential, Inc.)

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Site Visits, Observation and Testing. Lender Administrative Agent and its agents and representatives shall have the right upon notice to Borrower (except in the event of an emergency), at any reasonable time, time to enter and visit the Project for the purpose of performing appraisals, observing the Project, inspecting the progress of construction of the Project, taking and removing soil or groundwater samples, and conducting tests on any part of the Project. Lender Administrative Agent has no duty, however, to visit or observe the Project or to conduct tests, and no site visit, observation or testing by LenderAdministrative Agent, its agents or representatives representatives, shall impose any liability on any of LenderAdministrative Agent, its agents or representatives. Neither Borrower nor any other party is entitled to rely on any site visit, observation or testing by any of LenderAdministrative Agent, its agents or representatives. Neither LenderAdministrative Agent, its agents nor representatives owe any duty of care to protect Borrower or any other party against, or to inform Borrower or any other party of any other adverse condition affecting the Project. Lender Administrative Agent shall make give Borrower reasonable efforts to avoid interfering with Borrower’s use of notice before entering the Project in exercising any rights provided in this Section 4.2(q)Project.

Appears in 1 contract

Samples: Construction and Term Loan Agreement (Rex Stores Corp)

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