Physical Risk Report definition
Physical Risk Report means a report by a physical risk consultant which includes information (i) regarding any environmental sampling results, (ii) from environmental data base searches, (iii) regarding Hazardous Materials evidenced by a physical inspection, and (iv) on any recognized environmental conditions noted on the Physical Risk Report – Form 1104 or similar form of report used in connection with the origination of the Loan, if available for the Property.
Physical Risk Report means, collectively, any Physical Risk Report(s) (Form 1104) (i) prepared by the physical risk consultant engaged by ▇▇▇▇▇▇ in conjunction with the underwriting of this Loan that ▇▇▇▇▇▇ provided to Borrower prior to or in connection with the issuance of the Commitment Letter and, if applicable (ii) prepared by the physical risk consultant engaged by the Lender in conjunction with the underwriting of any proposed Transfer that ▇▇▇▇▇▇ provided to Borrower prior to or in connection with the issuance of an approval letter for such Transfer. The Physical Risk Report identifies, among other items, necessary repairs at the Mortgaged Property such as Priority Repairs (including PR-90 Repairs) and Operational Repairs.
Physical Risk Report means a report by a physical risk consultant which includes the following information:
Examples of Physical Risk Report in a sentence
Borrower will commence all Priority Repairs (including PR-90 Repairs) identified in the Physical Risk Report as soon as practicable after the Effective Date and will diligently proceed with and complete such Priority Repairs.
Borrower has reviewed: (a) the Physical Risk Report, (b) the Commitment Letter (c) the Note, (d) this Loan Agreement, (e) the Security Instrument, and (f) all other Loan Documents.
More Definitions of Physical Risk Report
Physical Risk Report means the, collectively, any Physical Risk Report(s) (Form 1104) or a Property Condition Report (Form 1105) (i) prepared by the physical risk consultant engaged by Lender in conjunction with the underwriting of this Loan that Lender provided to Borrower prior to or in connection with the issuance of the Commitment Letter and, if applicable (ii) prepared by the physical risk consultant engaged by the Lender in conjunction with the underwriting of any proposed Transfer that Lender provided to Borrower prior to or in connection with the issuance of an approval letter for such Transfer. The Physical Risk Report identifies, among other items, necessary repairs at the Mortgaged Property such as Priority Repairs (including PR-90 Repairs) and Operational Repairs.