Inspection Period means the period beginning on the Effective Date and expiring at 5:00 p.m. eastern time on the forty-fifth day after the Effective Date.
Title Review Period shall have the meaning set forth in Section 4.3.
Home inspection means the on-site, physical review of the home of an applicant to assure the applicant and the home meets all health and safety requirements within these rules.
Due Diligence Examination shall have the meaning set forth in Section 3.2.
Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.
Survey means a survey of the Property prepared by a surveyor licensed in the State and satisfactory to Lender and the company or companies issuing the Title Insurance Policy, and containing a certification of such surveyor satisfactory to Lender.
Home inspection report means a written report that is
Study Period means the period commencing at 9:00 a.m. on the date hereof, and continuing through 5:00 p.m. on the Closing Date.
Initial inspection means the first on-site inspection of facilities to verify declarations submitted pursuant to Articles III, IV, V and VI and this Annex.
Review Period has the meaning set forth in Section 2.04(c)(i).
Surveys has the meaning set forth in Section 4(o) above.
Final Inspection means the process and procedure described in UGC Section 12.1.
Phase I means the first part of the tuition incentive assistance program defined as the academic period of 80 semester or 120 term credits, or less, leading to an associate degree or certificate.
Inspection Fee means a fee payable to Lender or Loan Servicer for performing any inspection required by this Agreement in an amount not to exceed $500.00 per inspection.
Phase II means the second part of the tuition incentive assistance program which provides assistance in the third and fourth year of 4-year degree programs.
Due Diligence Period has the meaning set forth in Section 4.1(a).
Phase I Environmental Report means a report by an Independent Person who regularly conducts environmental site assessments in accordance with then current standards imposed by institutional commercial mortgage lenders and who has a reasonable amount of experience conducting such assessments.
Initial Audit is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books, with results satisfactory to Bank in its sole and absolute discretion.
Examination Period as defined in Section 4.01.
Survey Area means the area of land or waters the subject of a Survey, or proposed to be the subject of a Survey.
Phase I assessment as described in, and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any successor provisions covering the same subject matter in the case of a Specially Serviced Mortgage Loan as to which the related Mortgaged Property is multifamily property or (ii) the American Society for Testing and Materials in the case of Specially Serviced Mortgage Loan as to which the related Mortgaged Property is not multifamily property.
Existing Survey means the existing ALTA survey of the Property.
Phase I Environmental Assessment A “Phase I assessment” as described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.
Project Completion Date means the date on which the Completion Certificate is issued;
Certificate of inspection means an unsworn statement,
Title Report has the meaning set forth in Section 5.4(b).