Feasibility Study Period definition
Examples of Feasibility Study Period in a sentence
Seller makes no warranties whatsoever, including marketability of title, and in the event Buyer fails to provide written notification of its election to terminate this Agreement before the end of the Feasibility Study Period, Buyer accepts the Property “As-Is”.
During the Feasibility Study Period, Buyer may conduct a property inspection, title examination, environmental audit(s), surveys, review of zoning, land use and legal proceedings and any other tests, analyses, and investigations to determine the Property’s suitability to Buyer’s needs.
During the Feasibility Study Period, Buyer may, at its sole expense, examine the title to the Property and obtain a commitment for title insurance (the "Title Commitment") covering the Property issued by Old Republic Title Insurance Company or other title company (the "Title Company"), which Title Commitment shall agree to issue to Buyer and/or ▇▇▇▇▇’s lender, upon the Closing of this transaction, an ALTA owner's and lender’s title insurance policy in the full amount of the Purchase Price.
During the Feasibility Study Period, Buyer may, at its sole expense, obtain a current survey (the "Survey") of the Property prepared by a surveyor acceptable to Buyer and ▇▇▇▇▇’s lender, without in any way affecting the “As Is” provision of this Agreement.
If the Property is unacceptable to Buyer and written notice of this fact is timely delivered to Seller, this Agreement will be deemed terminated as of the day after the Feasibility Study Period ends and ▇▇▇▇▇’s Deposit(s) will be returned after ▇▇▇▇▇▇ Agent receives proper authorization from all interested parties.
Buyer is advised that changes in government regulations and levels of service which affect Buyer's intended use of the Property will not be grounds for canceling this Contract if the Feasibility Study Period has expired or if Buyer has checked choice (c)(2) below.
Buyer shall be allowed until the expiration of the "Inspection and Feasibility Study Period" for examination and the making of any objections to the survey and to any exception contained in the Title Commitment, said objections to be made in writing or deemed waived.
Buyer has until the end of the Inspection and Feasibility Study Period to complete such physical inspections.
If Buyer terminates this Agreement prior to the expiration of the Inspection and Feasibility Study Period, Buyer will provide Seller with copies of all reports and test results Buyer had performed on the Property.
Seller gives Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Feasibility Study Period for the purpose of conducting inspections; provided, however, that Buyer, its agents, contractors and assigns enter the Property and conduct inspections at their own risk.