Independent Inspecting Architect definition

Independent Inspecting Architect. The architect, engineer, agent, consultant or other inspector selected and retained by Administrative Agent, at Borrower’s expense, to inspect the work on behalf of the Administrative Agent and the Lenders.

Independent Inspecting Architect means any architect, engineer, agent, consultant or other inspector selected and retained by Administrative Agent, at Borrower’s expense, to inspect the construction of the Improvements or any other construction work at any of the Property and Improvements on behalf of the Administrative Agent and the Lenders.

Independent Inspecting Architect. – means the architect, engineer, agent, consultant or other inspector selected and retained by Administrative Agent from time to time, at Borrower’s expense, to inspect the Expansion, if applicable, on behalf of Administrative Agent and Lenders.

Examples of Independent Inspecting Architect in a sentence

• Any such inspection or review of the Improvements by Administrative Agent or Independent Inspecting Architect is solely to determine whether Borrower is properly discharging its obligations under the Loan Documents and may not be relied upon by Borrower or by any third party as a representation or warranty of compliance with this Agreement or any other agreement.

• Neither Administrative Agent, Independent Inspecting Architect nor any Lender owe a duty of care to Borrower or any third party to protect against, or to inform Borrower or any third party of, any negligent, faulty, inadequate or defective design or construction of the Improvements as determined by Administrative Agent, the Independent Inspecting Architect or any Lender.

• Administrative Agent and the Independent Inspecting Architect shall have the right to enter upon the portion of the Property where Expansion is being constructed at all reasonable times upon reasonable prior notice to inspect the Expansion and the construction work to verify information disclosed or required pursuant to this Agreement.

• Neither Administrative Agent, Independent Inspecting Architect nor any Lender owe a duty of care to Borrower, Operating Lessee or any third party to protect against, or to inform Borrower, Operating Lessee or any third party of, any negligent, faulty, inadequate or defective design or construction of the Expansion as determined by Administrative Agent, the Independent Inspecting Architect or any Lender.

• Any such inspection or review of the Expansion by Administrative Agent or Independent Inspecting Architect is solely to determine whether Borrower and Operating Lessee are properly discharging their respective obligations under the Loan Documents and may not be relied upon by Borrower, Operating Lessee or by any third party as a representation or warranty of compliance with this Agreement or any other agreement.

• Neither Administrative Agent, Independent Inspecting Architect nor any Lender owe a duty of care to Borrower or any third party to protect against, or to inform Borrower or any third party of, any negligent, faulty, inadequate or defective design or construction of the Additional Improvements as determined by Administrative Agent, the Independent Inspecting Architect or any Lender.

• Any such inspection or review of the Additional Improvements by Administrative Agent or Independent Inspecting Architect is solely to determine whether Borrower is properly discharging its obligations under the Loan Documents and may not be relied upon by Borrower or by any third party as a representation or warranty of compliance with this Agreement or any other agreement.

• Administrative Agent shall have the right to engage an Independent Inspecting Architect in connection with the construction of any Additional Improvements, and Administrative Agent and the Independent Inspecting Architect shall have the right to enter upon the Property at all reasonable times at Borrower’s cost and expense to inspect the Property and the construction work to verify information disclosed or required pursuant to this Agreement.

• Lender and the Independent Inspecting Architect owe no duty of care to Borrower or any third person to protect against, or inform Borrower or any third person of the existence of, negligent, faulty, inadequate or defective design or construction of the Improvements.

• Borrower recognizes and agrees that Administrative Agent or Lenders may, at their option, require inspection of the Property by an independent supervising architect and/or cost engineering specialist and/or Independent Inspecting Architect: (i) prior to each Advance; (ii) upon Completion of the Additional Improvements; and (iii) in any event, at least semi-annually.

More Definitions of Independent Inspecting Architect

Independent Inspecting Architect means an architectural or engineering firm of the Agent's choice, to be engaged by the Agent at the Borrower's expense to perform various services on behalf of the Lenders and the Agent with respect to a Construction Property, including, without limitation: examination of the applicable Plans and changes thereto, the Cost Breakdown, change orders, and Disbursement Requests; periodic inspections on behalf of the Agent and the Lenders; and advising and rendering periodic reports to the Agent concerning the same; and approving requests for Construction Advances.

Independent Inspecting Architect means, with respect to any Borrowing Base Development Property, the Person selected and retained by Agent, at Borrower's expense, to review construction of and inspect the Improvements on behalf of the Lenders.