Physical Condition Report definition

Physical Condition Report means, with respect to each Collateral Pool Property, a structural engineering report prepared by a company satisfactory to the Administrative Agent regarding the physical condition of such Collateral Pool Property, satisfactory in form and substance to the Administrative Agent in its reasonable discretion, which report shall, among other things, (a) confirm that such Collateral Pool Property and its use complies, in all material respects, with all applicable law (including, without limitation, zoning, subdivision and building laws) and (b) include a copy of a final certificate of occupancy with respect to all improvements on such Collateral Pool Property.

Physical Condition Report means the report(s) regarding the physical inspection of the Land and Improvements listed on Schedule 1.1(B).

Physical Condition Report means a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion, which report shall, among other things, (i) confirm that the Property and its use comply, in all material respects, with all applicable Legal Requirements (including zoning, subdivision and building laws), and (ii) include a copy of a final certificate of occupancy with respect to all Improvements.

Examples of Physical Condition Report in a sentence

• To Borrower’s knowledge, except as otherwise disclosed in the applicable Physical Condition Report which has been delivered to Lender prior to the date hereof, there exists no structural or other material defects or damages in the CIGNA Mortgage Loan Property, as a result of a Casualty or otherwise, and whether latent or otherwise.

• Except as disclosed in any Environmental Report, Physical Condition Report or Survey, Borrowers and the Collateral Properties and the ownership, operation and use thereof comply in all material respects with all applicable Legal Requirements, including, without limitation, all Environmental Laws, building and zoning ordinances and codes.

• Except as may otherwise be disclosed in the Physical Condition Report, all approvals, licenses and permits required from Governmental Authorities under applicable Legal Requirements in connection with the current phase of construction of the Improvements have been obtained and Borrower has no actual knowledge of any information suggesting that approvals, licenses and permits for future phases of construction will not be received in a timely manner.

• Except as may otherwise be disclosed in the Physical Condition Report, all streets, easements, utilities and related services necessary for the operation of the Improvements for their intended purpose are available to the Property.

• To Borrower’s knowledge, except as disclosed in the Physical Condition Report, there are no latent or patent structural or other significant defects or deficiencies in the Improvements or Equipment, Fixtures and Personalty.

More Definitions of Physical Condition Report

Physical Condition Report means the report(s) regarding the physical inspection of the Land and Improvements listed on Schedule 1.1(C).

Physical Condition Report means, with respect to each Individual Property, a structural engineering report prepared and delivered in connection with the Loan regarding the physical condition of such Individual Property.

Physical Condition Report means the report prepared by the Developer after the expiration or earlier termination of the Lease used by AFRH to determine whether Xxxxxx has fulfilled its obligations to maintain and restore the Leased Premises under this Lease.

Physical Condition Report means that certain physical condition report set forth on Schedule VII hereto.

Physical Condition Report means that certain property condition report prepared by CBRE, Inc. – Assessment and Consulting Services and dated March 2, 2017 in favor of Lender in connection with the closing of the Loan.

Physical Condition Report means those certain property condition reports prepared by Envirobusiness Inc. in favor of Lender in connection with the closing of the Loan.

Physical Condition Report means, with respect to each Collateral Property, a structural engineering report prepared by a company satisfactory to Administrative Agent regarding the physical condition of such Collateral Property, satisfactory in form and substance to Administrative Agent in its sole discretion, which report shall, among other things, (a) confirm that such Collateral Property and its use complies, in all material respects, with all applicable Legal Requirements (including, without limitation, zoning, subdivision and building laws) and (b) include a copy of a final certificate of occupancy with respect to all Improvements on such Collateral Property.