Inspecting Person definition

Inspecting Person. A Person designated by Lender from time to time who may inspect the Improvements from time to time for the benefit of Lender.

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Inspecting Person means a representative of CD Construction Consulting or another inspecting architect engaged by Lender who will, from time to time, inspect the Improvements for the benefit of Lender. Interest Reserve shall mean an initial amount of the Loan of up to $952,614.47 from which Borrower may request Advances to pay interest on the Loan which shall accrue pursuant to the terms of this Agreement.

Inspecting Person. A representative of AECC will from time to time inspect the Phase I Improvements and the development of Phase II Improvements for the benefit of Lender.

Examples of Inspecting Person in a sentence

• Borrower will permit Lender, the Inspecting Person and their representative to enter the Mortgaged Property for the purposes of inspecting same.

• The purposes for which Loan proceeds are allocated and the respective amounts of such Allocations are set forth in the Budget, which Advances shall be limited to the value of the work in place as determined by the Inspecting Person.

• Borrower acknowledges that the duties of the Inspecting Person run solely to Lender and that the Inspecting Person shall have no obligations or responsibilities whatsoever to Borrower, Contractor, the Design Professional, or to any of Borrower’s or Contractor’s agents, employees, contractors or subcontractors.

• Borrower will pay the fees and expenses of, and cooperate, with the Inspecting Person and will cause the Design Professional, the Contractor, each contractor and subcontractor and the employees of each of them to cooperate with the Inspecting Person and, upon request, will furnish the Inspecting Person whatever the Inspecting Person may consider necessary or useful in connection with the performance of the Inspecting Person’s duties.

• Borrower acknowledges that the duties of the Inspecting Person run solely to Lender and that the Inspecting Person shall have no obligations or responsibilities whatsoever to Borrower, Contractor, the Design Professional, or to any of Borrower's or Contractor's agents, employees, contractors or subcontractors.

• Borrower will pay the fees and expenses of, and cooperate, with the Inspecting Person and will cause the Design Professional, the Contractor, each contractor and subcontractor and the employees of each of them to cooperate with the Inspecting Person and, upon request, will furnish the Inspecting Person whatever the Inspecting Person may consider necessary or useful in connection with the performance of the Inspecting Person's duties.

• Borrower will pay the reasonable fees and expenses and cooperate with the Inspecting Person and will cause Borrower's employees, agents and subcontractors to cooperate with the Inspecting Person; provided, however, Borrower shall be required to reimburse Lender for the cost of no more than one inspection a month.

• The purposes for which Phase II Loan proceeds are allocated and the respective amounts of such Allocations are set forth in the Budget, which Advances shall be limited to the value of the work in place as determined by the Inspecting Person.

• Borrower will pay the reasonable fees and expenses of, and cooperate with, the Inspecting Person and will cause the Design Professional, the Contractor, each contractor and subcontractor and the employees of each of them to cooperate with the Inspecting Person and, upon request, will furnish the Inspecting Person whatever the Inspecting Person may reasonably consider necessary or useful in connection with the performance of the Inspecting Person’s duties.

• Borrower will permit Lender, the Inspecting Person and their representative to enter the Mortgaged Property for the purposes of inspecting same and Borrower specifically agrees that the Inspecting Person's inspection rights shall cover both the Phase I and Phase II Improvements.

More Definitions of Inspecting Person

Inspecting Person. A representative of CD Construction Consulting or another inspecting architect engaged by Lender who will, from time to time, inspect the Improvements for the benefit of Lender.

Inspecting Person. Either the “Construction Consultant” as defined in the Underlying Loan Agreement or, upon the occurrence and during the continuance of an Event of Default, a Person designated by Lender from time to time who may inspect the Land and the Improvements from time to time for the benefit of Lender.

Inspecting Person means a third party designated by Agent from time to time who may inspect the Improvements from time to time for the benefit of Agent and Lenders.

Inspecting Person means a Person designated by PE Member from time to time who may inspect, at the cost of the Common Member, the Improvements from time to time for the benefit of PE Member, in either case, provided, however, any Inspecting Person shall be a professional with substantial experience in construction projects similar in nature to the Improvements who shall not be an Affiliate of PE Member.

Inspecting Person means a person designated by Bank from time to time who may inspect the Calera Court Houses from time to time for the sole benefit of Bank.