Due Diligence Inspections definition
Examples of Due Diligence Inspections in a sentence
Purchaser will pay all costs and fees of (i) Purchaser’s Due Diligence Inspections and Reviews, (ii) all costs of obtaining Purchaser’s Required Consents, (iii) any Person that is entitled to a brokerage commission, finder’s fee or other like payment by reason of Purchaser’s or Purchaser’s Parent’s actions, (iv) document recordation in connection with the Closing, and (v) Purchaser and Purchaser’s Parent to negotiate and execute this Agreement and the Related Agreements.
Upon completion of the Due Diligence Inspections, Purchaser, shall restore the Property to the condition in which it existed prior to the Due Diligence Inspections.
Buyer and its agents and consultants shall be permitted reasonable access to the Property to perform the Due Diligence Inspections and shall hold Seller harmless from any physical condition of the Property and from any claim, loss or liability caused by Buyer or such agent or consultant to the extent arising from said inspections; provided, such indemnification shall not include any pre-existing condition of the Property except to the extent exacerbated by such entry.
Buyer shall be allowed twenty (20) days from the date of this Contract (the “Due Diligence Period”) to review the Property Information, review Seller’s title to the Property as provided in Article IV, perform the Due Diligence Inspections and satisfy its due diligence concerns.
Buyer shall promptly repair any damage caused to the Property by Buyer’s Due Diligence Inspections.
Purchaser shall give Seller at least 48 hours prior written notice of its desire to enter upon the Property and shall coordinate such entry and Due Diligence Inspections with Seller so that the entry is at a mutually convenient time.
Buyer’s Due Diligence Inspections may include non-invasive land surveys and environmental inspections and tests for the presence of hazardous materials (but Buyer will obtain Seller’s approval, which approval shall not be unreasonably withheld, if the inspection or test could interfere with operation of the Property or involve any boring or physical damage thereto) reasonably required by Buyer in connection with Buyer’s due diligence (the “Due Diligence Inspections”).
All Due Diligence Inspections of the Properties shall be scheduled at times mutually convenient to Seller and Purchaser upon not less than three (3) prior business days' notice to Seller, which notice shall identify the nature of the investigation to be performed at each Property, when Purchaser desires the investigations to occur and the person or entity engaged by Purchaser to perform the investigation.
Prior to Purchaser's start of the Due Diligence Inspections, Purchaser shall provide certificates of insurance to Seller evidencing liability insurance in the minimum amount of $2,000,000.00 combined per occurrence limit carried by Purchaser and/or Purchaser's agents in order to insure any loss arising out of or in connection with entry upon the Property.
Purchaser shall conduct the Due Diligence Inspections in a manner which shall not interfere with Seller's business operations on the Property and notwithstanding anything to the contrary contained in this Agreement, Purchaser shall not be permitted entry into any vaults, safes, or other areas of the Buildings containing confidential or secure property of Seller.