Common use of The Study Period Clause in Contracts

The Study Period. Buyer, in Buyer's sole and absolute discretion, shall have approved the condition of the Property. Buyer shall have until 5:00 p.m. Arizona time on the 30th day after the Opening of Escrow (the "Study Period"), at Buyer's sole cost, within which to conduct and/or approve any investigations, studies or tests deemed necessary by Buyer, in Buyer's sole discretion, to determine the feasibility of acquiring and developing the Property, including, but not limited to, environmental, soil and engineering studies and the investigation of zoning, title, land, water management, wetlands, construction and permit and access issues (the "Studies"). Seller hereby grants to Buyer and Buyer's agents, employees or contractors the right to enter upon the Property at any time or times during the Study Period to conduct the Studies. In consideration of Seller granting Buyer the right of entry to the Property, Buyer shall and does hereby agree to indemnify and hold Seller harmless from any and all liabilities, claims, losses or damages, including, but not limited to, court costs and attorneys' fees, which may be incurred by Seller because of the Studies or any activities by Buyer or its consultants related to the Studies, and to restore the Property to the condition existing immediately prior to any such Study, if any. Buyer's obligations as provided in the preceding sentence shall survive the cancellation of this Agreement. If, for any reason whatsoever, in Buyer's sole discretion the results of any of the Studies are not acceptable to Buyer and Buyer so notifies Seller and Escrow Agent in writing on or before the end of the Study Period (the "Cancellation Notice"), this Agreement shall be canceled. Buyer's failure, for any reason, to give the Cancellation Notice before the expiration of the Study Period automatically shall be deemed to be Buyer's election to close the Escrow.

The Study Period. Buyer, in Buyer's sole and absolute discretion, shall have approved the condition of the Property. Buyer shall have until 5:00 11:59 p.m. Arizona time MST on the 30th later of (i) the thirtieth (30th) day after Buyer receives written notice from Seller that the Opening Improvements at the Property are substantially complete (including, without limitation, the completion of Escrow any paving improvements and striping); or (ii) March 1, 2012 (the "“Study Period"”), at Buyer's ’s sole cost, within which to conduct and/or and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer's ’s sole discretion, to determine the feasibility of acquiring and developing the Property, including, but not limited without limitation, Buyer’s right to: (i) review and approve the Survey, environmentalthe Lease, soil and engineering studies and the investigation of zoning, title, land, water management, wetlands, construction and permit and access issues (the "Studies"). Seller hereby grants to Buyer and Buyer's agents, employees or contractors the right to enter upon the Property at any time or times during the Study Period to conduct the Studies. In consideration of Seller granting Buyer the right of entry Seller’s operating statements with respect to the Property, and the Contracts; (ii) meet and confer with Tenant; and, (iii) obtain, review and approve an environmental study of the Real Property and Building (collectively, “Buyer’s Diligence”). Buyer agrees that Buyer shall and does hereby agree to indemnify and hold Seller harmless from any and all liabilities, claims, losses or damages, includingnot contact Tenant directly, but shall coordinate all desired discussions with Tenant through Seller, Seller agreeing to use diligent good faith efforts to arrange any such discussions. Buyer shall not limited to, court costs and attorneys' feesperform any borings or other invasive tests upon the Property without the prior consent of Seller, which may shall not be incurred unreasonably withheld, conditioned or delayed. In addition to the cancellation provisions of Section 7(c) below, Buyer shall have the right to terminate this Agreement in the event Seller has not provided written notice to Buyer that the Improvements are substantially complete prior to April 15, 2012, whereupon the Xxxxxxx Money Deposit shall be paid immediately by Seller because Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Studies Parties shall have any further liability or any activities by Buyer or its consultants related to the Studies, and to restore the Property to the condition existing immediately prior to any such Study, if any. Buyer's obligations as provided in the preceding sentence shall survive the cancellation of obligation under this Agreement. If, for any reason whatsoever, in Buyer's sole discretion the results of any of the Studies are not acceptable to Buyer and Buyer so notifies Seller and Escrow Agent in writing on or before the end of the Study Period (the "Cancellation Notice"), this Agreement shall be canceled. Buyer's failure, for any reason, to give the Cancellation Notice before the expiration of the Study Period automatically shall be deemed to be Buyer's election to close the Escrow.

The Study Period. BuyerAs to any particular Property, in Buyer's sole and absolute discretion, shall have approved the condition of the Property. Buyer shall have until 5:00 p.m. Arizona time MST on the 30th thirtieth (30th) day after the Opening of Escrow Effective Date (the "“Study Period"”), at Buyer's ’s sole cost, within which to conduct and/or and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer's ’s sole discretion, to determine the feasibility of acquiring and developing the each Property, including, but not limited without limitation, Buyer’s right to: (i) review and approve each Survey, environmentaleach Lease, soil Seller’s operating statements with respect to each Property; and engineering studies (ii) obtain, review and the investigation approve an environmental study of zoningeach Property (collectively, title, land, water management, wetlands, construction and permit and access issues (the "Studies"“Buyer’s Diligence”). Seller hereby grants In the event that the results of the inspections, investigations, reviews and feasibility studies to which reference is made in Paragraphs 6, 7, 8 and 9 hereof, in Buyer’s sole opinion and within Buyer’s sole discretion, unacceptable to Buyer and Buyer's agents, employees or contractors the right to enter upon the Property at any time or times during the Study Period to conduct the Studies. In consideration of Seller granting Buyer the right of entry to the Property, Buyer shall and does hereby agree to indemnify and hold Seller harmless from any and all liabilities, claims, losses or damages, including, but not limited to, court costs and attorneys' fees, which may be incurred by Seller because of the Studies or any activities by Buyer or its consultants related to the Studies, and to restore the Property to the condition existing immediately prior to any such Study, if any. Buyer's obligations as provided in the preceding sentence shall survive the cancellation of this Agreement. If, for any reason whatsoever, in Buyer's sole discretion the results of any of the Studies are not acceptable to Buyer and Buyer so notifies Seller and Escrow Agent in writing of the fact on or before the end of the Study Period (the "Cancellation Notice"), this Agreement shall be canceled. Buyer's failure, for any reason, to give the Cancellation Notice before the expiration of the Study Period automatically provided in this Paragraph, then, at Buyer’s option and upon Buyer’s request, the Xxxxxxx Money deposited by Buyer with Escrow Agent hereunder, together with all interest earned thereon, shall be deemed returned to Buyer and, this Agreement shall thereupon be Buyer's election terminated, null and void, and be of no further force and effect and all parties hereto shall thereupon be relieved and absolved of any further liabilities or obligations whatsoever to close each other hereunder, except with respect to those liabilities or obligations hereunder which are expressly stated to survive the Escrowtermination of this Agreement. If Buyer fails to notify Seller in writing on or prior to expiration of the Study Period that each Property is suitable to Buyer and that the contingencies set forth in this Section 7 have been waived, then this Agreement shall automatically terminate and be rendered of no further force or effect, the Xxxxxxx Money Deposit and all interest earned thereon shall be returned to Buyer and the parties hereto shall have no further obligations to one another except under the indemnities which expressly survive XXX or the earlier termination of this Agreement.

The Study Period. Buyer, in Buyer's sole and absolute discretion, Buyer shall have approved the condition of the Property. Buyer shall have until 5:00 p.m. Arizona time on the 30th day after the Opening of Escrow (the "Study Period"), at Buyer's sole cost, within which to review the Property Documents (as defined below) and to conduct and/or approve any investigations, studies or tests deemed necessary by Buyer, in Buyer's sole discretion, Buyer to determine the feasibility of acquiring and developing the Property, including, but not limited to, environmentalenvironmental studies (collectively, soil and engineering studies and the investigation of zoning, title, land, water management, wetlands, construction and permit and access issues (the "Studies"; each a "Study"). Buyer agrees to immediately provide a copy of each Study to Seller, including, but not limited to, a copy of any environmental assessment report of the Property. Seller hereby grants to Buyer and Buyer's agents, employees or contractors the right to enter upon the Property at any time or times during the Study Period to conduct the StudiesStudies during normal business hours, after reasonable notice. In consideration of Seller granting Buyer the right of entry to the Property, Buyer shall and does hereby agree to indemnify hold harmless Seller and hold Seller harmless Seller's agents, employees and partners and such partners' respective partners, trustees, beneficiaries, employees and agents (collectively, the "Indemnified Parties"; each an "Indemnified Party") for, from and against any and all liabilities, claims, losses or damages, including, but not limited to, court costs and attorneys' fees, which may be incurred by Seller an Indemnified Party because of the Studies or any activities by Buyer or its consultants related to the Studies, and to restore the Property to the condition existing immediately prior to any such Study, if any. Buyer's obligations as provided in the preceding sentence shall survive the cancellation of this AgreementAgreement and the Close of Escrow, as applicable. If, for any reason whatsoever, in Buyer's sole discretion If the results of any of the Studies are not acceptable to Buyer and Buyer so notifies Seller and Escrow Agent in writing on or before the end of the Study Period (the "Cancellation Notice"), this Agreement shall be canceled. Buyer's failure, for any reason, to give the Cancellation Notice before the expiration of the Study Period automatically shall be deemed to be Buyer's election to close the Escrow.