Physical Inspection Report definition

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Physical Inspection Report means a report prepared by a qualified independent third party engineer, architect or other real estate inspector selected by the General Partner concerning the physical condition of any Proposed Qualified Asset.

Physical Inspection Report means a report prepared by a qualified independent third party engineer, architect or other real estate inspector selected by the Managing General Partner and reasonably acceptable to the Other General Partner concerning the physical condition of any Proposed Qualified Property.

Examples of Physical Inspection Report in a sentence

The Physical Inspection Reports shall be delivered by Purchaser to Seller solely as an accommodation to Seller and with no assurances by Purchaser with respect thereto; and Seller agrees that Seller shall not have any right to rely on the Physical Inspection Reports or any right to bring any action or to make any claim against the preparer of any Physical Inspection Report.
Receipt of the complete Funding Package for each such Railcar, including a ▇▇▇▇ of Sale and a Physical Inspection Report (if and to the extent required by Section 6.10), based upon a physical inspection of a representative sampling of such Railcars conducted not earlier than 90 days before the proposed Funding Date.
Upon request by any member of the Executive Committee, LMLP GP or Asset Manager will provide to the Executive Committee copies of the Environmental Assessment, the Physical Inspection Report and the survey after completion thereof.
Upon request, the Manager or Asset Manager will provide to LXP, the Fund or the Advisor copies of the Environmental Assessment, the Physical Inspection Report and the survey after completion thereof.
Upon request, the Managing General Partner will provide to the Other General Partner copies of the Environmental Assessment, the Physical Inspection Report and the title report, underlying title documents and survey for the Approved Qualified Property.
Notwithstanding such deliveries, the Managing General Partner shall remain solely responsible for conducting such due diligence, and neither the Other General Partner nor the Advisor (if the Other General Partner is Fund GP or an Affiliate of the Fund) shall be obligated to read or review such memorandum, Environmental Assessment, Physical Inspection Report, survey, or other Final Proposal Materials.
Notwithstanding such deliveries, the Manager and Asset Manager shall remain solely responsible for such due diligence, and neither the Fund nor the Advisor shall be obligated to read or review such memorandum, Environmental Assessment, Physical Inspection Report or Survey.
Each Physical Inspection Report, if any, shall be acceptable to the Majority Lenders each of whom is deemed to have accepted the Physical Inspection Report unless the Majority Lenders advise the Administrative Agent and (through the Administrative Agent) the Borrower on or prior to the Advance Date that such Physical Inspection Report is not acceptable and specify the reasons therefor.
Without limitation of the foregoing, subsequent Independent Appraisals of such Aircraft shall be adjusted for the current physical condition of the Aircraft based on the most recent Physical Inspection Report of such Aircraft and/or other relevant maintenance records to the extent applicable and available, and adjusted for any change to underlying “Extended Desktop Base Value” (as defined by ISTAT) of the Aircraft.
Receipt of the complete Funding Package for each such Railcar, including a B▇▇▇ of Sale and a Physical Inspection Report (if and to the extent required by Section 6.10), based upon a physical inspection of a representative sampling of such Railcars conducted not earlier than 90 days before the proposed Funding Date.

More Definitions of Physical Inspection Report

Physical Inspection Report among the existing definitions set forth in such Section in alphabetical order to read as follows:

Physical Inspection Report means, with respect to any Aircraft, a physical inspection report (which includes a summary of the overall condition of such Aircraft and a specifications report) completed either (x) no earlier than three (3) months prior to the Advance Date for such Aircraft or (y) no earlier than 18 months prior to the Advance Date for such Aircraft (or the date of the most recent heavy maintenance event for such Aircraft) and accompanied by a certification reasonably satisfactory to the Administrative Agent as to the absence of any material adverse change to the condition of such Aircraft since the date of such report.”

Physical Inspection Report means, for any Aircraft, a physical inspection report from an independent and reputable physical inspector of such Aircraft, which report shall set forth, among other things, the total number of hours and cycles with respect to the related Airframe and each related Engine, in form and level of detail consistent with industry standards and reasonably satisfactory to the Administrative Agent.

Physical Inspection Report means with respect to each Railcar, a physical inspection report of an independent inspector mutually acceptable to the Borrower and the Agent, which report shall set forth, among other things, any material unrepaired damage or maintenance deficiencies and the total number of hours and miles with respect to such Railcar. “Portfolio” means, collectively, all of the Portfolio Railcars and the Portfolio Leases. “Portfolio Lease” means a Lease with respect to a Portfolio Railcar. “Portfolio Railcar” means a Railcar which is owned by the Borrower and which has been funded in whole or in part by a Loan hereunder or included as a Replacement Railcar or otherwise added to the Portfolio in accordance with Sections 2.02(a) and (b) and not released from the Lien of the Security Agreement pursuant to Section 8.12 of the Security Agreement or otherwise. “Prohibited Nations Acts” means the Trading with the Enemy Act, 50 U.S.C. app. §§ 1-44 (2006), the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701- 1707 (2006), the USA Patriot Act, the Cuban Liberty and Democratic Solidarity Act (▇▇▇▇▇-▇▇▇▇▇▇ Act), Pub. L. No. 104-114, 110 Stat. 785 (1996), related regulations issued by OFAC or the U.S. Department of State, including the Cuban Assets Control Regulations in each case as may be amended or updated from time to time, and any similar acts or governmental actions of the United States to the extent applicable (including but not limited to economic or financial sanctions, sectoral sanctions, trade embargoes and anti-terrorism laws). “Protected Party” means, without duplication, the Agent, the Collateral Agent, the Depository, each Creditor, each Support Party and any participant, successor or permitted assign of any thereof. “Purchase Price” means, with respect to any Railcar, the aggregate purchase price payable by the Borrower under the applicable Sale Agreement for such Railcar, as such purchase price is certified in the applicable Request. “Railcar” means a covered ▇▇▇▇▇▇ car, tank car, boxcar, flat car or other railcar or unit of railroad rolling stock (other than a locomotive), including (i) any and all Parts relating thereto and (ii) any Replacement Railcars and any and all Parts relating thereto, together with any and all accessions, additions, improvements and replacements from time to time incorporated or installed in any item thereof and together with all options, warranties, service contracts, program services, test rights, maintenance rights, suppor...