Common use of Study Period Clause in Contracts

Study Period. Purchaser shall have the Study Period to physically inspect the Property, review the economic data, underwrite the Tenants and review the Leases, conduct appraisals, perform examinations of the physical condition of the Improvements, examine the Real Property for the presence of Hazardous Materials, and to otherwise conduct such due diligence review of the Property and all records and other materials related thereto as Purchaser, in its absolute discretion, deems appropriate. If, between the date of this Agreement and the end of the Study Period, Purchaser shall, for any reason in Purchaser's sole discretion, determine that it does not wish to purchase the Property, Purchaser shall be entitled to terminate this Agreement by giving written notice thereof to Seller prior to the expiration of the Study Period, and thereupon (i) the Nonrefundable Portion of the Deposit shall be paid to Seller, (ii) the balance of the Deposit shall be returned to Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), and (iii) except for Purchaser's Surviving Obligations, Seller and Purchaser shall have no further obligations or liabilities to each other hereunder. If Purchaser fails to give such notice prior to the expiration of the Study Period, it shall conclusively be deemed to have elected to waive its right to terminate this Agreement under this SECTION 5.2 and shall be obligated to purchase the Property in accordance with the terms hereof.

Study Period. Purchaser shall have the Study Period to physically inspect the PropertyProperties, review the economic data, underwrite and interview the Tenants and review the LeasesLeases and Lease files, conduct appraisals, perform examinations of the physical condition of the Improvements, examine the Real Property Properties for the presence of Hazardous Materials, and to otherwise conduct such due diligence review of the Property Properties and all records and other materials related thereto as Purchaser, in its absolute discretion, deems appropriate. If, between the date of this Agreement Effective Date and the end of the Study Period, Purchaser shall, for any reason or no reason in Purchaser's ’s sole and absolute discretion, whether reasonable or arbitrary, determine that it does not wish to purchase all of the PropertyProperties, Purchaser shall be entitled to terminate this Agreement with respect to all (but not less than all) of the Properties by giving written notice thereof to Seller Sellers prior to the expiration of the Study Period, and thereupon (i) the Nonrefundable Portion of the Deposit this Agreement shall be paid to Sellerterminate, (ii) the balance of the Deposit shall be returned to Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), ’s request for the same and (iii) except for Purchaser's ’s Surviving Obligations, Seller and Sellers’ Surviving Obligations, Sellers and Purchaser shall have no further obligations or liabilities to each other hereunder. If Purchaser fails to give such notice prior to the expiration of the Study Period, it shall conclusively be deemed to have elected to waive its right to terminate this Agreement under this SECTION Section 5.2 and shall be obligated to purchase the Property in accordance with perform its obligations under the terms hereofof this Agreement subject to the terms and conditions of this Agreement.

Study Period. Subject to the provisions of Section 5.1, Purchaser shall have has had the Study Period to physically inspect the Property, review the economic data, underwrite the Tenants and review the Leases, conduct appraisals, perform examinations of the physical condition of the Improvements, examine the Real Property for the presence of Hazardous Materials, and to otherwise conduct such due diligence review of the Property and all records and other materials related thereto as Purchaser, in its absolute discretion, deems appropriate. If, between Purchaser is satisfied with the date of this Agreement and the end condition of the Study Period, Purchaser shall, for any reason in Purchaser's sole discretion, determine that it does not wish Property and has elected to purchase the Property, Purchaser shall be entitled proceed to terminate this Agreement by giving written notice thereof to Seller prior to the expiration of the Study Period, and thereupon (i) the Nonrefundable Portion of the Deposit shall be paid to Seller, (ii) the balance of the Deposit shall be returned to Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), and (iii) except for Purchaser's Surviving Obligations, Seller Closing and Purchaser shall have no further obligations or liabilities to each other hereunder. If Purchaser fails to give such notice prior to the expiration of the Study Period, it shall conclusively be deemed to have elected to waive its right to terminate this Agreement under this SECTION 5.2 and shall be obligated to purchase the Property in accordance with the terms hereof.. Notwithstanding the foregoing, in the event that the Phase I Update discloses an environmental condition at the Property that is not disclosed in the Existing Phase I Report and which materially and adversely affects the value of the Property or the use and operation thereof, Purchaser shall have the right to terminate this Agreement by sending written notice thereof to Seller no later than June 1, 2007, whereupon the Deposit shall be promptly returned to Purchaser and the parties shall have no further liabilities or obligations under this Agreement except for Purchaser’s Surviving Obligations. Purchaser shall promptly deliver a copy of the Phase I Update to Seller upon receipt thereof. In the event that Purchaser does not terminate this Agreement on or before June 1, 2007, Purchaser shall be deemed to have waived its termination right under this Section 5.2.

Study Period. Purchaser shall have beginning on the Effective Date through the period ending at 6:00 p.m. (local time in Boston, Massachusetts) on August 14, 2006 (the “Study Period Period”), to physically inspect the individual parcels of land and improvements that make up the Real Property, review the economic datadata and market conditions, underwrite the Tenants and review the Leases, conduct appraisals, make inquiry of governmental officials, perform examinations of the physical condition of the Improvements, examine each individual parcel of land and improvements that make up the Real Property for the presence of Hazardous Materials, Materials except for Hazardous Materials Permitted Exceptions and to otherwise conduct such due diligence review of the Property and all records and other materials related thereto underwriting as Purchaser, in its sole and absolute discretion, deems appropriate. IfThis Agreement shall automatically terminate at 6:00 p.m. on August 14, between 2006 (the date “Study Period Notice Deadline”), unless Purchaser gives Seller written notice (the “Study Period Notice_”) that Purchaser, in its absolute and unreviewable discretion, elects to proceed with the purchase of the Real Property subject to and in accordance with the terms of this Agreement and the end of Agreement. At any time before the Study PeriodPeriod Notice Deadline, Purchaser shallmay, for any reason in Purchaser's sole its absolute and unreviewable discretion, determine that it does not wish to purchase the Property, Purchaser shall be entitled to terminate this Agreement by giving written notice thereof to Seller prior to (the expiration of the Study Period“Termination Notice”). If this Agreement shall automatically terminate, and thereupon (i) the Nonrefundable Portion of the Deposit shall be paid to Seller, (ii) the balance of the Deposit promptly shall be returned to Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), and (iii) except for Purchaser's Surviving Obligations, Seller and Purchaser shall have no further obligations or liabilities to each other hereunderhereunder other than Purchaser’s obligations under Section 5.1(b)(iv) and Section 5.3. If Purchaser fails to give such notice prior to the expiration of the Study Period, it shall conclusively be deemed to have elected to waive its right to terminate this Agreement under this SECTION 5.2 and shall be obligated to purchase the Property in accordance with the terms hereofSection 5.3.

Study Period. Purchaser shall have beginning on the Effective Date through the period ending at 6:00 p.m. (local time in Boston, Massachusetts) on August 14, 2006 (the “Study Period Period”), to physically inspect the individual parcels of land and improvements that make up the Real Property, review the economic datadata and market conditions, underwrite the Tenants and review the Leases, conduct appraisals, make inquiry of governmental officials, perform examinations of the physical condition of the Improvements, examine each individual parcel of land and improvements that make up the Real Property for the presence of Hazardous Materials, Materials except for Hazardous Materials Permitted Exceptions and to otherwise conduct such due diligence review of the Property and all records and other materials related thereto underwriting as Purchaser, in its sole and absolute discretion, deems appropriate. IfThis Agreement shall automatically terminate at 6:00 p.m. on August 14, between 2006 (the date “Study Period Notice Deadline”), unless Purchaser gives Seller written notice (the “Study Period Notice_”) that Purchaser, in its absolute and unreviewable discretion, elects to proceed with the purchase of the Real Property subject to and in accordance with the terms of this Agreement and the end of Agreement. At any time before the Study PeriodPeriod Notice Deadline, Purchaser shallmay, for any reason in Purchaser's sole its absolute and unreviewable discretion, determine that it does not wish to purchase the Property, Purchaser shall be entitled to terminate this Agreement by giving written notice thereof to Seller prior to (the expiration of the Study Period“Termination Notice”). If this Agreement shall automatically terminate, and thereupon (i) the Nonrefundable Portion of the Deposit shall be paid to Seller, (ii) the balance of the Deposit promptly shall be returned to Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), and (iii) except for Purchaser's Surviving Obligations, Seller and Purchaser shall have no further obligations or liabilities to each other hereunder. If Purchaser fails to give such notice prior to the expiration of the Study Period, it shall conclusively be deemed to have elected to waive its right to terminate this Agreement hereunder other than Purchaser’s obligations under this SECTION 5.2 Section 5.1(b)(iv) and shall be obligated to purchase the Property in accordance with the terms hereofSection 5.3.

Study Period. The Purchaser shall have until 5:00 p.m. local Atlanta, Georgia time on the forty-fifth (45th) calendar day after the Effective Date of this Agreement (the “Study Period”) within which to conduct and complete, at the Purchaser’s sole expense, all inspections, investigations, examinations of title, surveys, testing and undertakings with respect to the Property that the Purchaser desires in the sole discretion of the Purchaser. During the Study Period, the Purchaser shall have the Study Period right to physically inspect enter upon the Property, review at the economic dataPurchaser’s sole risk and in compliance with all applicable laws, underwrite for the Tenants purpose of performing the foregoing inspections and review investigations. Notwithstanding the Leasesforegoing, conduct appraisalsno invasive inspections, perform examinations testing or investigations (e.g., Phase II Environmental Site Assessment or geotechnical soil borings) shall be conducted without the Seller’s prior written approval. All inspections and investigations shall be performed at reasonable times and the Purchaser shall be accompanied by a representative of the physical Seller if the Seller so desires. The Seller shall not be obligated to correct, remedy or cure any condition of the Improvements, examine the Real Property for the presence of Hazardous Materials, and to otherwise conduct such due diligence review or characteristic of the Property and all records and other materials related thereto as revealed by such inspections or investigations, including but not limited to any environmental contamination. If the results of any such inspection or investigation are deemed unsatisfactory in the Purchaser, in its absolute discretion, deems appropriate. If, between the date of this Agreement and the end of the Study Period, Purchaser shall, for any reason in Purchaser's ’s sole discretion, determine that it does not wish to purchase then the Property, Purchaser shall be entitled to may terminate this Agreement by giving providing written notice thereof to the Seller prior to the expiration of the Study Period, and thereupon (i) the Nonrefundable Portion of the Deposit shall be paid to Seller, (ii) the balance of in which event the Deposit shall be returned to the Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), and (iii) except for Purchaser's Surviving Obligations, Seller and Purchaser neither party shall have no any further rights or obligations or liabilities to each other hereunder, except as expressly provided herein. If the Purchaser fails to give such notice so terminate this Agreement prior to the expiration of the Study Period, it the Purchaser shall conclusively be deemed to have elected to waive its waived such right to terminate this Agreement under this SECTION 5.2 and shall be obligated proceed to purchase the Property Closing in accordance with the terms hereofof this Agreement.

Study Period. Purchaser shall have until November 29, 2023 (the “Study Period Period”) to physically inspect conduct such investigations of the Property, review the economic dataincluding but not limited to, underwrite the Tenants and review the Leases, conduct appraisals, perform examinations of the physical and environmental conditions thereof, as Purchaser deems necessary or desirable to satisfy itself as to the condition of the Improvements, examine the Real Property for the presence of Hazardous Materials, and to otherwise conduct such due diligence review of the Property and all records and other materials related thereto as the existence or nonexistence or curative action to be taken with respect to any structural or hazardous or toxic substances on or discharged from the Property. If Purchaser fails to notify Seller in writing by 5:00 p.m. of the last day of the Study Period of Purchaser’s termination of this Agreement, then Purchaser shall be deemed to have waived its termination right under the next sentence. If Purchaser, in its absolute discretion, deems appropriate. If, between the date of this Agreement and the end of the Study Period, Purchaser shall, for any reason in Purchaser's sole discretion, determine determines that it does not wish desire to purchase acquire the Property, Purchaser shall be entitled Property and notifies Seller in writing by 5:00 p.m. on the last day of the Study Period of Purchaser’s election to terminate this Agreement, this Agreement by giving written notice thereof to Seller prior to the expiration of the Study Periodthereupon shall become void, and thereupon (i) the Nonrefundable Portion of the Deposit shall be paid to Seller, (ii) the balance of the Deposit shall be returned to the Purchaser promptly following Purchaser's compliance with its obligations under SECTION 5.3(C), and (iii) there shall be no further obligation or liability on either of the parties hereto except for Purchaser's Surviving Obligations, Seller and Purchaser shall have no further obligations or liabilities provisions stated to each other hereundersurvive termination hereof. If Purchaser fails to give such notice prior to the expiration of During the Study Period, it Seller shall conclusively permit Purchaser and/or its contractors access to the Property, and so much of Lot 5 as may be deemed required to have elected complete the studies described above, for such purposes during the Study Period. Should Seller require Purchaser to waive its enter into a right to terminate this Agreement under this SECTION 5.2 of entry agreement for such access, Seller shall promptly prepare same on reasonable terms and shall be obligated provide same to purchase the Property in accordance with the terms hereofPurchaser for review and execution.