Conditions of Property Sample Clauses
The "Conditions of Property" clause defines the required state or quality of a property at a specific point in a transaction, such as at the time of sale or lease. It typically outlines standards for cleanliness, repair, and the functioning of systems or appliances, and may specify which party is responsible for addressing any deficiencies. This clause ensures that both parties have a clear understanding of the property's expected condition, thereby reducing disputes and facilitating a smoother transfer or occupancy process.
Conditions of Property a. The property is believed and shall be taken to be correctly described and is sold subject to all express and implied conditions, restrictions in interest, easements, common rights, leases, tenancies, occupiers, encroachment, trespass, nuisance, charges, liens, caveats, covenants, liabilities, encumbrances, all public and private rights of way, support, drainage, light and all other rights or other incidents (if any) subsisting thereon without any obligation arising for the Assignee/Bank to define the same respectively and any error, mis- statement, omission or mis-description discovered in the contract shall not annul the sale nor shall any compensation be allowed by or to either party in respect thereof. The Purchaser shall be deemed to have full knowledge of the state and condition of the property.
b. The Purchaser shall be deemed to have inspected and investigated the conditions of the property as is where is and shall raise no requisition or objection thereon or thereto. No representation warranty or undertaking whatsoever is made or should be implied as to whether or not the property complies with any relevant building by-laws or legislation. The Purchaser shall take the property as is where is and shall not require the connection of water, electricity or other utilities thereto nor removal of any rubbish thereat. The fact (if such be the case) that the property or renovations thereat may contravene building by-laws or legislation shall not annul the sale or entitle the Purchaser to rescind the sale or claim damages or diminution in price.
c. The Assignee/Bank makes no representation as to the ownership of furniture fittings and fixtures situated at the property which items may be on hire purchase, lease or deferred sale from third parties. In such cases the Assignee/Bank accepts no liability for any payments which may be outstanding in respect thereof and the property is sold subject thereto.
Conditions of Property. Following completion of Purchaser’s inspection during the Due Diligence Period, Purchaser acknowledges and represents that Purchaser will be fully aware of the physical condition and state of repair of the Premises and of all other property included in this sale, based on Purchaser’s own inspection and investigation thereof, and that Purchaser is entering into this Contract based solely upon such inspection and investigations and not upon any information, data, statements or representations, written or oral, as to the physical condition, state of repair, use, cost of operation or any other matter related to the Premises or the other property included in the sale, given or made by Sellers or its representatives, and shall accept the same “as is” in their present condition and state of repair, subject to reasonable use, wear, tear and natural deterioration between the date hereof and the date of Closing (except as otherwise set forth in Paragraph 14(d) and Paragraph 8 of Purchaser’s Rider), without any reduction in the purchase price, except as otherwise specifically provided in this Contract, or claim of any kind for any change in such condition by reason thereof subsequent to the date of this Contract. Purchasers and their authorized representatives shall have the right, at reasonable times and upon reasonable notice (by telephone or otherwise) to Sellers, to inspect the Premises before Closing.
Conditions of Property. Borrower represents and warrants that Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in any or all of the Property which could (1) adversely affect the insurability of any or all of the Property, (2) cause the imposition of increased premiums or charges or (3) cause the termination of any insurance policy or bond.
Conditions of Property. Each building, fixture, machine and piece of equipment (having a net book value of Five Thousand Dollars ($5,000.00) or more), owned or used by Meritus or any of its Subsidiaries is listed in SECTION 5.1(x) of the Company Disclosure Letter and is in good operating condition and repair (ordinary wear and tear excepted), and is in good compliance with all zoning, building and fire codes, except for such instances of noncompliance that would not have or be reasonably likely to have a Material Adverse Effect. Meritus or its Subsidiaries owns and has good and legal title to, or leases under leases which are valid and under which Meritus or its Subsidiaries are not currently in default, all buildings, machinery, equipment and other tangible assets used in the conduct of Meritus's or such Subsidiary's business as presently conducted, reflected in the most recent Company Reports, and, except as set forth in SECTION 5.1(x) of the Company Disclosure Letter, are free and clear of all liens, claims and encumbrances;
Conditions of Property. Kite ▇▇▇▇▇▇ has personally inspected the Property and
Conditions of Property. Until possession of the property is delivered to Buyer, Seller shall maintain the same so that upon delivery of possession the property shall be in the same condition as it was on the date this Contract was signed by Buyer, ordinary wear and tear excepted, with all appliances and equipment to be delivered to Buyer in proper operating condition. Seller shall leave the premises in broom-clean condition. All refuse and personal property not to be conveyed to Buyer shall be removed from the Premises at Seller’s expense by the possession date. Buyer shall have the right to inspect the Premises 14 days prior to closing and again on the day of closing or day prior to closing..
Conditions of Property. CEPI hereby acknowledges and accepts that on ---------------------- the Closing date the equipment to be sold and transferred by PGP to CEPI will be sold in its then "as is, where is" condition without any warranties, written or verbal, expressed or implied, as to the condition of such equipment sold. CEPI has been given free and unencumbered access to the Antelope Creek Field and has inspected the equipment prior to Closing. PGP makes no warranty as to the condition, safety, or operating condition of the equipment sold to CEPI which will survive the date of Closing.
Conditions of Property. If upon the final survey of the Property the extent of the Property is found to be greater than the extent depicted on the General Plan, the Purchaser shall not be liable for any excess. Conversely, if the extent thereof is found to be less than the extent depicted on the General Plan, the Seller shall not be liable for any shortfall. The provisions of this clause are subject thereto that if the final, surveyed extent of the Property is less than 90% (ninety percent) of the provisional extent depicted on the General Plan, the Purchaser, entirely within his election and within 7 (seven) days of being notified thereof, shall be entitled to resile from this agreement by giving written notice to such effect to the Seller. Should the Purchaser exercise this right to resile, this agreement will be cancelled and the Parties shall be restored as near as may be possible to the position each would have been in if this agreement had not been entered into at all.
Conditions of Property. Owner warrants and assumes the responsibility that all structural components of the premises are in good repair, and are in conformity with Washington State Laws and local regulations. Owner acknowledges that Agent has made no representation regarding conditions of property unless specifically set forth herein.
Conditions of Property. PGP hereby acknowledges and accepts that on ---------------------- the Closing date the equipment to be sold and transferred by Inland to PGP will be sold in its then "as is, where is" condition without any warranties, written or verbal, expressed or implied, as to the condition of such equipment sold. Inland makes no warranty as to the condition, safety, or operating condition of the equipment sold to PGP which will survive the date of Closing.