Common use of Due Diligence Deadline Clause in Contracts

Due Diligence Deadline. For the period from the Effective Date through the expiration of the Site Inspection Period, as the same may be extended pursuant to this Agreement (the "Due Diligence Deadline"), Developer and employees, agents and contractors, shall have the right to inspect, test, study and investigate (which includes the Site Inspections) the Property and review the Property Documents in a manner Developer deems necessary to determine whether the Property is suitable for Developer in Developer's sole and absolute discretion. Developer's due diligence shall include the right to examine the feasibility of the Project and determine if financing and all governmental permits or approvals are available upon reasonable terms to develop and construct the Project. Developer shall be solely responsible for any and all costs associated with its Project due diligence or Site Inspections of the Property, unless this Agreement specifically allocates such responsibility to the Commission. Until the Due Diligence Deadline, Developer shall have the right to terminate this Agreement for any reason whatsoever, or no reason, in its sole and absolute discretion, upon written notice to the Commission, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). If Developer fails to give the Commission such written notice of termination on or before the Due Diligence Deadline, then Developer shall be deemed to have waived any right to terminate this Agreement pursuant to this Section 1.3 (but not as to any Developer Closing Conditions or any other express termination right provided herein).

Due Diligence Deadline. For the period from the Effective Date through the expiration of the Site Inspection Period, as the same may be extended pursuant to this Agreement (the "Due Diligence Deadline"), Developer and employees, agents and contractors, shall have the right to inspect, test, study and investigate (which includes the Site Inspections) the Property and review the Property Documents in a manner Developer deems necessary to determine whether the Property is suitable for Developer in Developer's sole and absolute discretion. Developer's due diligence shall include the right to examine the feasibility of the Project and determine if financing and all governmental permits or approvals are available upon reasonable terms to develop and construct the Project. Developer shall be solely responsible for any and all costs associated with its Project due diligence or Site Inspections of the Property, unless this Agreement specifically allocates such responsibility to the Commission. Until the Due Diligence Deadline, Developer shall have the right to terminate this Agreement for any reason whatsoever, or no reason, in its sole and absolute discretion, upon written notice to the Commission, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). If Developer fails to give the Commission such written notice of termination on or before the Due Diligence Deadline, then Developer shall be deemed to have accepted the Property and shall have waived any right to terminate this Agreement pursuant to this Section 1.3 (but not as to any Developer Closing Conditions or any other express termination right provided hereinConditions)(as defined in Section 6.3 below).