Feasibility Condition Clause Samples

A Feasibility Condition clause establishes that a contract or specific obligations within it are contingent upon the successful completion of a feasibility study or assessment. In practice, this means that parties are not required to proceed with the project or investment unless the feasibility study confirms that the project is viable, whether in terms of technical, financial, or regulatory criteria. This clause serves to protect parties from committing resources to projects that may ultimately prove impractical or unprofitable, thereby allocating risk and ensuring that only viable projects move forward.
POPULAR SAMPLE Copied 1 times
Feasibility Condition. 3.2.1 Buyer shall have until 5:00 p.m. on the last day of the Due Diligence Period to confirm in Buyer's sole discretion, at Buyer's sole expense, whether Buyer may feasibly acquire and use the Property for Buyer's intended purpose. During the Due Diligence Period, Buyer shall, in addition to all other matters regarding the Property, have reviewed (or shall have assumed the risk of not reviewing) all of the following: (a) the physical condition of the Property; (b) title to Property; (c) the availability of all necessary utilities and gravity sewers and storm drains for the Property; (d) rental agreements, leases, service contracts, tax bills and other written agreements or notices which affect the Property to the extent furnished to Buyer; (e) building inspection reports and engineering reports to the extent furnished to Buyer; (f) the environmental condition of the Land and the Building, including the existence of toxic waste and hazardous substances; and (g) the economic feasibility of Buyer's intended use of the Property. 3.2.2 By the end of the Due Diligence Period, Buyer shall provide written notice to Seller and Escrow Holder as to whether Buyer approves the feasibility of acquiring the Property (either "Feasibility Notice" or "Non-Feasibility Notice"). If Seller and Escrow Holder receive a Feasibility Notice from Buyer by the end of the Due Diligence Period, or do not receive either form of written notice, this feasibility condition shall be conclusively deemed satisfied in all respects including Buyer's approval of each of the items set out in Paragraph 3. 2.1. If Seller and Escrow Holder receive the Non-Feasibility Notice by the end of the Due Diligence Period, Escrow and this Agreement shall terminate, and the Deposit shall be returned to Buyer, as provided in Paragraph 6.3. 3.2.3 Within three (3) business days following the Effective Date, Seller shall make available for Buyer's review, in the offices of Seller's property manager or at the Building, originals or true copies of the following documents to the extent that such documents exist and are within the possession or control of Seller or any of its agents: all Leases, Contracts, Licenses and Permits, current tax and utility bills, surveys, plans and specifications, current operating and expense reports, environmental assessment reports, engineering reports, notices from governmental agencies, repair records and inspection and maintenance reports. Seller may, at its option and expense, prov...
View SourceView Similar (5)
Feasibility Condition. (a) During the period up to the Due Diligence Date, each of Smart and SmartStop may perform (subject to compliance with other relevant provisions of this Agreement) due diligence and investigations in connection with feasibility of the Project (the “Feasibility Due Diligence”) based on the following information: (i) such financial analysis of the Project as deemed necessary or desirable by either Smart or SmartStop; and (ii) a feasibility study in respect of the Project completed by an Independent Third Party jointly retained by Smart and SmartStop. (b) Each of Smart and SmartStop shall be entitled, on or before the Due Diligence Date, to determine in its Sole Discretion whether or not it is satisfied with its Feasibility Due Diligence. (c) Smart shall be deemed not to be satisfied with the results of its Feasibility Due Diligence unless it delivers to SmartStop on or before the Due Diligence Date a written notice in the form attached hereto (with the relevant details inserted therein) as Schedule H (“Smart’s Feasibility Notice”) stating that it is satisfied in its Sole Discretion with the results of its Feasibility Due Diligence. If Smart fails to give SmartStop Smart’s Feasibility Notice by such time, then this Agreement shall terminate automatically at such time and, upon such termination, SmartStop and Smart shall be released from all obligations under this Agreement (except for those obligations which are expressly stated to survive the termination of this Agreement) and the Deposit then being held and all interest accrued thereon shall be dealt with in accordance with Section 5.2. (d) SmartStop shall be deemed not to be satisfied with the results of its Feasibility Due Diligence unless it delivers to Smart on or before the Due Diligence Date a written notice in the form attached hereto (with the relevant details inserted therein) as Schedule I (“SmartStop’s Feasibility Notice”) stating that it is satisfied in its Sole Discretion with the results of its Feasibility Due Diligence. If SmartStop fails to give Smart SmartStop’s Feasibility Notice by such time, then this Agreement shall terminate automatically at such time and, upon such termination, SmartStop and Smart shall be released from all obligations under this Agreement (except for those obligations which are expressly stated to survive the termination of this Agreement) and the Deposit then being held and all interest accrued thereon shall be dealt with in accordance with Section 5.2. (e) Each of...
View Source
Feasibility Condition 
View SourceView Similar (12)
Feasibility Condition 
View SourceView Similar (12)

Related to Feasibility Condition

  • ELIGIBILITY CONDITIONS The eligibility conditions specified in Adoption Agreement Section 2.01 are effective for Plan Years beginning after _______________________.

  • SAFETY CONDITIONS 8.1 The District shall make every effort to provide a place of employment which is safe. A unit member shall not be required to perform duties under conditions which endanger his/her health or safety. 8.2 The District shall make a good faith effort to reduce or alleviate those conditions which cause stress. The reduction of threats or intimidation by students or other members of the public shall be a continuous effort of both the District and unit members working together. 8.3 Unit members who feel they are being required to work under unsafe or unsanitary conditions, or to perform tasks that endanger their health or safety, shall submit written recommendations for changes to the principal or site administrator. The principal or site administrator shall respond and take corrective action as needed. 8.4 The District shall ensure that each unit member has access to a lockable desk, cupboard or other lockable space. 8.5 Unit members other than the school nurse, shall not be required to provide specialized physical health care. 8.6 Unit members are authorized to administer discipline to students in accordance with the Education Code and the rules and regulations of the District. A written description of the rights and duties of unit members with respect to student discipline shall be provided to unit members at the beginning of each school year. In addition, said written descriptions shall be available at each school site. The District shall not take action against a unit member who uses reasonable and lawful force in the performance of his/her duties. Unit members shall report any physical assault against the unit member to the principal or site administrator, who shall report the incident to the appropriate law enforcement agency. 8.7 During conditions of excessive heat, the Superintendent or designee, whenever appropriate, will reduce the school day for students in schools with non-operable air conditioning, to the State required minimum day. Unit members may be directed to proceed to a district air conditioned location for the remainder of the service day. The Superintendent or designee shall have the discretion to reduce the school day to the State required minimum day whenever other weather conditions pose a danger to students and unit members. Unit members may be directed to proceed to another District location for the remainder of the service day. 8.8 For protection of unit members whose normal duties may require transportation of students in unit member's vehicles, the District shall provide secondary insurance against personal liability for damages for death, injury to a person, or damage or loss of property caused by the negligent act or omission of the unit member when acting within the scope of his/her employment. Additionally, the District will provide this same coverage to unit members who are required to travel from site-to- site or make home visitations in order to perform assigned duties. When a loss occurs, the unit member's primary insurance deductible will be reimbursed up to a maximum of $500.00. If administrator approval is unobtainable, the teacher's best judgment for the protection of student safety shall be included in the above. 8.9 Restrooms shall be available to unit members whenever they are required to render service. 8.10 Adequate lounge facilities shall be provided for unit members' use. Additionally, the District shall provide, when fiscally possible, at least one piece of furniture per site where a staff member may recline. The site safety committee shall determine the placement of these facilities and furniture. 8.11 Unit members shall have the right to refer to the office, a student who exhibits symptoms of illness which endanger the health of other students or the unit member. The student shall not return to the classroom until it is determined by the principal/site administrator that his/her health is not a clear and present danger to those with whom he/she shares space. The student shall be given a pass to return to class signed by the principal/site administrator confirming the decision. 8.12 The District shall reimburse or repair articles of clothing, glasses and hearing aids damaged while the unit member is acting in the proper discharge of disciplinary/ supervisorial duties. In addition, all other accessories damaged under the conditions listed above shall be reimbursed up to a maximum of $200.00.

  • Property Condition Seller agrees to maintain the Property in its current condition, subject to ordinary wear and tear, from the time this Agreement comes into effect until the Closing. Buyer recognizes that the Seller, along with any licensed real estate agent(s) involved in this transaction, make no claims as to the validity of any property disclosure information. Buyer is required to perform their own inspections, tests, and investigations to verify any information provided by the Seller. Afterward, the Buyer shall submit copies of all tests and reports to the Seller at no cost.

  • Delivery Conditions Each delivery of the Goods shall be accompanied with a delivery note, which shall be confirmed by both Parties upon handover and takeover of the Goods, and shall be used as the Goods handover protocol. The delivery note shall contain: identification data of the Seller and the Buyer, the number and date of issue of the Delivery Note, position/serial number according to the Contract; contract number; Material code according to IS in STC format; the number of the supplied units without defects with a divided according to individual types, the number of delivered pieces of defective Prelaminates according to paragraph 5 of this article, the total number of Prelaminates delivered, place and date of handover and acceptance (hereinafter the "delivery note") The Seller shall notify the Buyer to the e-mail address: ▇▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇ the expected date and time when the Goods will be delivered to the Buyer's address, at least 2 working days before the day of dispatch from the Seller's plant. In the event that the Seller uses a carrier that allows you to monitor the status of the delivery, the Seller will also send the Buyer the number of the bill of lading. The Seller shall immediately inform the Buyer about expected failure to arrive on time in order to solve this situation. The Seller shall deliver the Goods on business days and during the Buyer's regular working hours, i.e. between 6:00 a.m. and 2:00 p.m., unless stipulated otherwise by the Buyer. Outside these hours, it is only possible to receive Goods following a previous agreement made over the phone between the Seller and the Buyer's representative stated in this Contract. Within a single delivery must not content: a) the number of defective Prelaminates higher than 2% of the total number of Prelaminates delivered, b) no sheet in the format of 3x7 positions, on which the number of defective Prelaminates will be greater than 2, Within one partial delivery, the tolerance of the number of delivered Prelaminates is +/- 3% of the ordered number of Prelaminates. The Seller undertakes to provide the subject of performance for transport and subsequent storage in a manner that is usual for this type of subject of performance in business relations so as to ensure the preservation, protection and quality of the subject of performance. Each delivered consignment will be properly marked with the indication of the subject of performance, the manufacturer and information about its weight. The performance of the Seller is considered fulfilled if it is delivered on time and properly, i.e. free of any defects in quantity in accordance with the agreement of the Parties under paragraph 6 of this article, quality or legal defects, including accompanying written documents. The ownership title to the Goods supplied on the basis of this Contract shall pass on the Buyer at the moment of takeover of the Goods, i.e. at the moment the handover protocol for the Goods (delivery note) is signed by the Buyer. The risk of damage to the Goods shall pass to the Buyer at the same moment.

  • Termination Conditions This Agreement terminates upon the earlier of any of the following events: a.