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

Site Visits, Observations and Testing. The Indemnified Parties and their agents and representatives shall have the right at any reasonable time to enter and visit any Funded Project for the purposes of observing the Funded Project, taking and removing soil or groundwater samples, and conducting tests on any part of the Funded Project. The Indemnified Parties have no duty, however, to visit or observe the any Funded Project or to conduct tests, and no site visit, observation or testing by any Indemnified Party shall impose any liability on any Indemnified Party. In no event shall any site visit, observation or testing by any Indemnified Party be a representation that Hazardous Substances are or are not present in, on or under any Funded Project, or that there has been or shall be compliance with any law, regulation or ordinance pertaining to Hazardous Substances or any other applicable governmental law. Neither the Company, its Subsidiaries nor any other party is entitled to rely on any site visit, observation or testing by any Indemnified Party. The Indemnified Parties owe no duty of care to protect the Company or any other party against, or to inform the Company, its Subsidiaries or any other party of, any Hazardous Substances or any other adverse condition affecting any Funded Project. Any Indemnified Party shall give the Company reasonable notice before entering any Funded Project. The Indemnified Party shall make reasonable efforts to avoid interfering with the Company's or any tenant's use of any Funded Project in exercising any rights provided for in this Section. Each Indemnified Party will use reasonable business practices in conducting its site visits, observations and testing.

Appears in 2 contracts

Samples: Credit Agreement (Apartment Investment & Management Co), Credit Agreement (Apartment Investment & Management Co)

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Site Visits, Observations and Testing. The Indemnified Parties and their agents and representatives shall have the right at any reasonable time to enter enter, upon prior written notice and, if any such entry would subject Indemnitor to any laws requiring prior notice to tenants or other occupants of said Property, in a manner that would reasonably enable Indemnitor to provide such notice in conformance with any such law, and visit any Funded Project the Property for the purposes of observing the Funded ProjectProperty, taking and removing soil or groundwater samples, and conducting tests on any part of the Funded ProjectProperty. The Indemnified Parties have no duty, however, to visit or observe the any Funded Project Property or to conduct tests, and no site visit, observation or testing by any Indemnified Party shall impose any liability on any Indemnified Party. In no event shall any site visit, observation or testing by any Indemnified Party be a representation that Hazardous Substances are or are not present in, on or under any Funded Projectthe Property, or that there has been or shall be compliance with any law, regulation or ordinance pertaining to Hazardous Substances or any other applicable governmental law. Neither the Company, its Subsidiaries Indemnitor nor any other party is entitled to rely on any site visit, observation or testing by any Indemnified Party. The Indemnified Parties owe no duty of care to protect the Company Indemnitor or any other party against, or to inform the Company, its Subsidiaries Indemnitor or any other party of, any Hazardous Substances or any other adverse condition affecting any Funded Projectthe Property. Any Indemnified Party shall give the Company Indemnitor reasonable notice before entering any Funded Projectthe Property. The Indemnified Party shall make reasonable efforts to avoid interfering with the Company's or any tenantthird party's use of any Funded Project the Property in exercising any rights provided for in this Section. Each Indemnified Party will use reasonable business practices in conducting its site visits, observations and testing.

Appears in 1 contract

Samples: Credit Agreement (Apartment Investment & Management Co)

Site Visits, Observations and Testing. The Indemnified Parties and their agents and representatives shall have the right at any reasonable time to enter enter, upon prior written notice and, if any such entry would subject Indemnitor to any laws requiring prior notice to lessees or other occupants of said Property, in a manner that would reasonably enable Indemnitor to provide such notice in conformance with any such law, and visit any Funded Project the Property for the purposes of observing the Funded ProjectProperty, and if the Indemnified Parties reasonably believe that the Property may violate applicable Environmental Laws, for the purposes of taking and removing soil or groundwater samples, and conducting tests on any part of the Funded ProjectProperty. The Indemnified Parties have no duty, however, to visit or observe the any Funded Project Property or to conduct tests, and no site visit, observation or testing by any Indemnified Party shall impose any liability on any Indemnified Party. In no event shall any site visit, observation or testing by any Indemnified Party be a representation that Hazardous Substances Materials are or are not present in, on or under any Funded Projectthe Property, or that there has been or shall be compliance with any law, regulation or ordinance pertaining to Hazardous Substances Materials or any other applicable governmental law. Neither the Company, its Subsidiaries Indemnitor nor any other party is entitled to rely on any site visit, observation or testing by any Indemnified Party. The Indemnified Parties owe no duty of care to protect the Company Indemnitor or any other party against, or to inform the Company, its Subsidiaries Indemnitor or any other party of, any Hazardous Substances Materials or any other adverse condition affecting any Funded Projectthe Property. Any Indemnified Party shall give the Company Indemnitor reasonable notice before entering any Funded Projectthe Property. The Indemnified Party shall make reasonable efforts to avoid interfering with the Company's or any tenant's third party’s use of any Funded Project the Property in exercising any rights provided for in this Section. Each Indemnified Party will use reasonable business practices in conducting its site visits, observations and testing.

Appears in 1 contract

Samples: Assignment and Assumption (American Realty Capital Trust, Inc.)

Site Visits, Observations and Testing. (a) The Bank, its parent, subsidiary and any affiliated companies, any assignees of any of the Bank's interest in the Loan or the Security Instruments, any owners of participation or other interests in the Loan or the Security Instruments, any purchasers of the Property at any foreclosure sale or from the Bank or any of its affiliates, and the officers, directors, employees and agents of each of them (each individually, an "Indemnified Parties Party," and their agents and representatives shall all collectively, the "Indemnified Parties"), have the right at any reasonable time to enter and visit any Funded Project the Property for the purposes of observing the Funded ProjectProperty, taking and removing soil or groundwater samples, samples and conducting tests on any part of the Funded ProjectProperty. The Indemnified Parties have no duty, however, to visit or observe the any Funded Project Property or to conduct tests, and no site visit, observation or testing by any Indemnified Party shall impose imposes any liability on any Indemnified Party. In no event shall will any site visit, observation or testing by any Indemnified Party be a representation that Hazardous Substances are or are not present in, on or under any Funded Projectthe Property, or that there has been or shall will be compliance with any law, regulation or ordinance pertaining to Hazardous Substances or any other applicable governmental law. Neither the Company, its Subsidiaries Borrower nor any other party is entitled to rely on any site visit, observation or testing by any Indemnified Party. The Indemnified Parties owe no duty of care to protect the Company Borrower or any other party against, against or to inform the Company, its Subsidiaries Borrower or any other party of, of any Hazardous Substances or any other adverse condition affecting any Funded Projectthe Property. Any Indemnified Party shall will give the Company Borrower reasonable notice before entering any Funded Projectthe Property. The Indemnified Party shall will make reasonable efforts to avoid interfering with the Company's or any tenantBorrower's use of any Funded Project the Property in exercising any rights provided for in this Section. Each Indemnified Party will use reasonable business practices in conducting its site visits, observations and testing.

Appears in 1 contract

Samples: Loan Agreement (Newmark Homes Corp)

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Site Visits, Observations and Testing. The Indemnified Parties Lender and their its agents and representatives shall have the right at any reasonable time to enter and visit any Funded Project the Property for the purposes of observing the Funded ProjectLand, taking and removing soil soils or groundwater samples, and conducting tests on any part of the Funded ProjectProperty. The Indemnified Parties have Lender is under no duty, however, to visit or observe the any Funded Project Land or to conduct tests, and no any such acts by Lender shall be solely for the purpose of protecting Lender’s security and preserving Lender’s rights under the Loan Documents. No site visit, observation or testing by Lender shall result in a waiver of any Indemnified Party shall default of Borrower or impose any liability on any Indemnified PartyLender. In no event shall any site visit, observation or testing by any Indemnified Party Lender be a representation that Hazardous Substances are or are not present in, on or under any Funded Projectthe Property, or that there has been or shall be compliance with any law, regulation or ordinance pertaining to Hazardous Substances or any other applicable governmental law. Neither the Company, its Subsidiaries Borrower nor any other party is entitled to rely on any site visit, observation or testing by any Indemnified PartyLender. The Indemnified Parties owe Lender owes no duty of care to protect the Company Borrower or any other party against, or to inform the Company, its Subsidiaries Borrower or any other party of, any Hazardous Substances or any other adverse condition affecting the Property. Lender shall not be obligated to disclose to Borrower or any Funded Projectother party any report or findings made as the result of, or in connection with, any site visit, observation or testing by Lender. Any Indemnified Party In each instance, Lender shall give the Company Borrower reasonable notice before entering any Funded Projectthe Property. The Indemnified Party Lender shall make reasonable efforts to avoid interfering with the Company's or any tenant's Borrower’s use of any Funded Project the Property in exercising any rights provided for in this SectionParagraph 8.5, and shall cooperate as reasonably requested by Borrower to avoid delay in construction of the Improvements. Each Indemnified Party will use reasonable business practices To the extent any such delay cannot be avoided, the Completion Date shall be extended as Lender deems reasonably appropriate in conducting its site visits, observations and testingview of all the circumstances.

Appears in 1 contract

Samples: Construction Loan Agreement (Neurocrine Biosciences Inc)

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