Common use of Feasibility Clause in Contracts

Feasibility. a. Buyer shall have ninety (90) days from the date of full execution of this Agreement (the “Feasibility Period”) to determine whether the Property is suitable for Buyer's intended purpose, on the conditions set forth in paragraph 10 of this Agreement. b. If Buyer, in the exercise of its sole discretion, decides that the Property is not suitable for Buyer's intended purpose for any reason or for no reason Buyer may terminate this Agreement by giving Notice to this effect to Seller at any time during the Feasibility Period but not thereafter. If such Notice is given, Buyer shall be entitled to a return of its Initial Deposit. Once the Feasibility Period expires and if Buyer has not exercised its right to terminate, Buyer's right to terminate this Agreement under the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable to Buyer, unless Buyer terminates this Agreement due to Seller’s failure to deliver title in accordance with the terms of this Agreement. Notwithstanding anything set forth herein to the contrary, at Settlement, the Deposit will be refunded to Buyer provided that the full Purchase Price is paid to Seller in accordance with Paragraph 2b of this Agreement, unless Seller has drawn on the Letter of Credit(s), in which case, the amount drawn down by Seller will be applied to the Purchase Price. c. If Buyer does not terminate this Agreement on or prior to ninety (90) days from the date hereof, as provided for in paragraph 3b of this Agreement. Buyer agrees to accept the Property on an AS IS, WHERE IS condition, with all faults. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth herein. Buyer further acknowledges that Seller has made no warranty or representation and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Property.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Tasty Baking Co), Purchase and Sale Agreement (Tasty Baking Co)

Feasibility. a. Buyer shall (a) During the fifteen (15) business day period following the latest of the dates on which Purchaser and Seller have ninety (90) days from the date of full execution of both executed this Agreement (the "Feasibility Period”) "), Purchaser, its agents, employees and contractors shall have the right to determine whether enter the Property is suitable for Buyer's intended purposethe purpose of inspecting improvements, on making surveys, updating the conditions set forth in paragraph 10 of this Agreement. b. If Buyerdue diligence materials previously delivered to Purchaser pursuant to 6(b) below, and performing other tests, studies and examinations as Purchaser, in the exercise of its sole discretion, decides that desires and to confirm the availability of financing, on terms and conditions acceptable to Purchaser. If Purchaser is not satisfied, in its sole discretion, with all aspects of the Property is not suitable for Buyer's intended purpose for any reason or for no reason Buyer may terminate this Agreement by giving Notice to this effect and the results of all tests and studies, and the availability of the specified financing, Purchaser shall have the right, upon written notice to Seller at any time during given prior to expiration of the Feasibility Period but not thereafter. If such Notice is givenPeriod, Buyer shall be entitled to a return of its Initial Deposit. Once the Feasibility Period expires and if Buyer has not exercised its right to terminate, Buyer's right to terminate this Agreement under Agreement, in which event the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable returned to BuyerPurchaser. (b) Purchaser acknowledges that Seller has delivered to Purchaser the materials listed on Exhibit B, unless Buyer terminates this Agreement and that all matters disclosed by such deliveries are acceptable to Purchaser and shall not be the basis for any objection hereunder. The matters of title and survey reflected in the materials already delivered to Purchaser are "Permitted Exceptions" deemed acceptable to Purchaser. Seller shall promptly deliver to Purchaser such other due to diligence materials in Seller’s failure to deliver title 's possession as Purchaser may specifically identify in accordance with the terms writing, excluding any materials of this Agreement. Notwithstanding anything set forth herein a proprietary nature, not relating to the contrary, condition or performance of the Property or the Tenant. All due diligence updates shall be at Settlement, the Deposit will be refunded to Buyer provided that the full Purchase Price is paid to Seller in accordance with Paragraph 2b of this Agreement, unless Seller has drawn on the Letter of Credit(s), in which case, the amount drawn down by Seller will be applied to the Purchase PricePurchaser's sole expense. c. (c) If Buyer does notice of termination is not terminate this Agreement on or given prior to ninety expiration of the Feasibility Period, all such matters shall be deemed acceptable and all such conditions satisfied and/or waived. (90d) days from the date hereof, as provided for in paragraph 3b of this Agreement. Buyer Purchaser agrees to accept repair any damage caused directly by exercise of the Property on an AS ISright of access granted to Purchaser in this paragraph, WHERE IS conditionand to indemnify and hold the Seller harmless from any and all losses actually incurred as a direct result of the exercise of such right of access, with all faults. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property other than as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth hereinnegligence or willful misconduct. Buyer further acknowledges that Seller has made no warranty or representation will cooperate and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and assist Purchaser's access to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Propertybuildings.

Appears in 2 contracts

Sources: Assignment of Agreement of Purchase and Sale (Aei Income & Growth Fund 25 LLC), Assignment of Agreement of Purchase and Sale (Aei Income & Growth Fund Xxi LTD Partnership)

Feasibility. a. Buyer shall (a) During the fifteen (15) business day period following the latest of the dates on which Purchaser and Seller have ninety (90) days from the date of full execution of both executed this Agreement (the "Feasibility Period”) "), Purchaser, its agents, employees and contractors shall have the right to determine whether enter the Property is suitable for Buyer's intended purposethe purpose of inspecting improvements, on making surveys, updating the conditions set forth due diligence materials previously delivered to Purchaser pursuant to Section 6(b) below and performing other tests studies and examinations as Purchaser in paragraph 10 of this Agreement. b. its sole discretion desires.. If BuyerPurchaser, in the exercise of its sole discretion, decides that the Property is not suitable for Buyer's intended purpose for satisfied with the results of any reason updated tests including any materially adverse facts or for no reason Buyer conditions not shown in the Due Diligence Materials (defined below) which may terminate this Agreement be revealed by giving Notice to this effect an updated Phase I Environmental report, survey or title examination, Purchaser shall have the right, upon written notice to Seller at any time during given prior to expiration of the Feasibility Period but not thereafter. If such Notice is givenPeriod, Buyer shall be entitled to a return of its Initial Deposit. Once the Feasibility Period expires and if Buyer has not exercised its right to terminate, Buyer's right to terminate this Agreement under Agreement, in which event the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable returned to BuyerPurchaser. (b) Purchaser acknowledges that Seller has delivered to Purchaser the materials listed on Exhibit B (the "Due Diligence Materials"), unless Buyer terminates this Agreement and that all matters disclosed by such deliveries are acceptable to Purchaser and shall not be the basis for any objection hereunder. The matters of title and survey reflected in the materials already delivered to Purchaser are "Permitted Exceptions" deemed acceptable to Purchaser. Seller shall promptly deliver to Purchaser such other due to diligence materials in Seller’s failure to deliver title 's possession as Purchaser may specifically identify in accordance with the terms writing, excluding any materials of this Agreement. Notwithstanding anything set forth herein a proprietary nature, not relating to the contrary, condition or performance of the Property or the tenant. All due diligence updates shall be at Settlement, the Deposit will be refunded to Buyer provided that the full Purchase Price is paid to Seller in accordance with Paragraph 2b of this Agreement, unless Seller has drawn on the Letter of Credit(s), in which case, the amount drawn down by Seller will be applied to the Purchase PricePurchaser's sole expense. c. (c) If Buyer does notice of termination is not terminate this Agreement on or given prior to ninety expiration of the Feasibility Period, all such matters shall be deemed acceptable and all such conditions satisfied and/or waived and the termination right under Section 6(a) shall be extinguished. (90d) days from the date hereof, as provided for in paragraph 3b of this Agreement. Buyer Purchaser agrees to accept repair any damage caused directly by exercise of the Property on an AS ISright of access granted to Purchaser in this paragraph, WHERE IS conditionand to indemnify and hold the Seller harmless from any and all losses actually incurred as a direct result of the exercise of such right of access, with all faults. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property other than as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth hereinnegligence or willful misconduct. Buyer further acknowledges that Seller has made no warranty or representation will cooperate and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and assist Purchaser's access to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Propertybuildings.

Appears in 1 contract

Sources: Assignment of Agreement of Purchase and Sale (Aei Income & Growth Fund 25 LLC)

Feasibility. a. Buyer (a) Purchaser shall have ninety (90) a period of up to *** days from after the effective date of full execution this Contract to inspect the Property and perform all necessary due diligence deemed necessary by Purchaser regarding the Property and its purchase of this Agreement the Property (the “"Feasibility Period”) to determine whether "). Within the Feasibility Period, if Purchaser in its sole judgment and discretion determines that the Property is suitable for Buyerto Purchaser, Purchaser shall notify Seller in writing of Purchaser's intended purpose, on intention to close the conditions set forth in paragraph 10 purchase of this Agreement. b. If Buyer, in the exercise of its sole discretion, decides that the Property is not suitable for Buyer's intended purpose for any reason or for no reason Buyer may terminate this Agreement by giving Notice to this effect to Seller at any time during the Feasibility Period but not thereafter. If such Notice is given, Buyer shall be entitled to a return of its Initial Deposit. Once the Feasibility Period expires and if Buyer has not exercised its right to terminate, Buyer's right to terminate this Agreement under the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable to Buyer, unless Buyer terminates this Agreement due to Seller’s failure to deliver title in accordance with the terms of this AgreementLots. Notwithstanding anything set forth contained herein to the contrary, at Settlementthe written notice of Purchaser's intent to purchase the Lots ("Notice of Suitability"), and any Supplemental Notice of Suitability as described in Section 2.03 below, shall not be effective unless signed by one of the Deposit officers of Purchaser named in Article XX (p) herein. If Purchaser fails to send Seller a Notice of Suitability on or before the last day of said *** period or, if applicable, a Supplemental Notice of Suitability as described in Section 2.03, and such failure continues for a period of ten (10) days after written notice from Seller, this Contract shall automatically terminate and the Earnest Money will be refunded returned to Buyer Purchaser. (b) Seller r▇▇▇▇▇▇▇ts that it is in possession of the Property and can and will provide Purchaser and its consultants reasonable access to the Property during the Feasibility Period to conduct such tests and studies as Purchaser deems appropriate, provided that in no event (i) shall such tests or studies disrupt or disturb the full Purchase Price is paid to Seller in accordance with Paragraph 2b ongoing operation of this Agreement, unless Seller has drawn on the Letter Seller's overall development of Credit(s), in which case, the amount drawn down by Seller will be applied Spanish Trails adjacent to the Purchase Price. c. If Buyer does not terminate this Agreement Property, or (ii) shall Purchaser or its agents or representatives drill or bore on or through the surface of the Property without Seller's prior written consent, which consent shall not be unreasonably withheld. After making such tests and studies, Purchaser agrees promptly to restore the Property to its condition prior to ninety (90) days such tests and studies. Purchaser agrees to indemnify and hold harmless the Seller from and against any mechanics or other liens or claims that may be filed or asserted against the date hereofProperty or Seller by anyone performing any such work on Purchaser's behalf. Seller shall not be liable nor responsible for personal injury or property damage caused or occasioned by such tests and studies, as provided for in paragraph 3b and Purchaser shall indemnify and save Seller harmless from any loss, damage or claim resulting therefrom, irrespective of the termination of this Agreement. Buyer agrees _______________ ***Denotes omission of information pursuant to accept a request for confidential treatment. An copy of this agreement which includes the Property on an AS IS, WHERE IS condition, omitted information has been filed separately with all faultsthe Securities and Exchange Commission. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth herein. Buyer further acknowledges that Seller has made no warranty or representation and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Property._______________ 3

Appears in 1 contract

Sources: Purchase Agreement (Falcon Ridge Development Inc.)

Feasibility. a. Buyer (a) Through 5:00 p.m. Central time, on January 29, 2008 (the "Feasibility Period," Purchaser, its agents, employees and contractors shall have ninety (90) days from the date of full execution of this Agreement (the “Feasibility Period”) right to determine whether enter the Property is suitable for Buyer's intended purposethe purpose of inspecting improvements, on evaluating the conditions set forth Lease and the Declaration, making surveys, updating the due diligence materials delivered to Purchaser pursuant to Section 6(b) below and performing other tests studies and examinations as Purchaser in paragraph 10 of this Agreement. b. its sole discretion desires. If BuyerPurchaser, in the exercise of its sole discretion, decides that the Property is not suitable for Buyer's intended purpose for satisfied with the Property, the "Due Diligence Materials" or the results of any reason tests, including any materially adverse facts or for no reason Buyer conditions which may terminate this Agreement be revealed by giving Notice to this effect a Phase I Environmental report, survey or title examination, Purchaser shall have the right, upon written notice to Seller at any time during given prior to expiration of the Feasibility Period but not thereafter. If such Notice is givenPeriod, Buyer shall be entitled to a return of its Initial Deposit. Once the Feasibility Period expires and if Buyer has not exercised its right to terminate, Buyer's right to terminate this Agreement under Agreement, in which event the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable returned to BuyerPurchaser. (b) Seller has delivered, unless Buyer terminates this Agreement or will promptly deliver, to Purchaser the materials listed on Exhibit B (the "Due Diligence Materials"). Seller shall promptly deliver to Purchaser such other due to diligence materials in Seller’s failure to deliver title 's possession as Purchaser may specifically identify in accordance with the terms writing, excluding any materials of this Agreement. Notwithstanding anything set forth herein a proprietary nature, not relating to the contrarycondition or performance of the Property or the tenant. All due diligence updates shall be at Purchaser's sole expense. (c) If notice of termination is not given prior to 5:00 p.m. Central time on the last day of the Feasibility Period, at SettlementPurchaser shall be deemed to have waived the termination right under Section 6(a) above. (d) Purchaser agrees to repair any damage caused directly by any negligence or other wrongful act or omission by Purchaser, its agents, employees or contractors (collectively, the Deposit will be refunded to Buyer provided that the full Purchase Price is paid to Seller in accordance with Paragraph 2b of this Agreement, unless Seller has drawn on the Letter of Credit(s"Purchaser Parties"), in which case, the amount drawn down by Seller will be applied to the Purchase Price. c. If Buyer does not terminate this Agreement on connection with or prior to ninety (90) days from the date hereof, as provided for in paragraph 3b of this Agreement. Buyer agrees to accept the Property on an AS IS, WHERE IS condition, with all faults. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth herein. Buyer further acknowledges that Seller has made no warranty or representation and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Propertyexercise of the right of access granted to Purchaser in this paragraph, and to indemnify and hold the Seller harmless from any and all losses actually incurred as a direct result of any such negligence or wrongful act of any of the Purchaser Parties in connection with or relating to the exercise of such right of access. Seller will cooperate and assist Purchaser's access to the buildings.

Appears in 1 contract

Sources: Purchase Agreement (Aei Income & Growth Fund Xxi LTD Partnership)

Feasibility. a. Buyer completion of a feasibility study satisfactory to the Buyer that it is feasible for Buyer to own and operate the Property and improvements to be constructed thereon by Buyer in a manner and upon terms and conditions satisfactory to Buyer. The feasibility study may include, but shall not be limited to, (i) Buyer's satisfaction that all permits, building permits, approvals and licenses, shoreline permits and any other governmental approvals or permits, including zoning, are available with conditions acceptable to Buyer and all appeal periods for such matters have expired; (ii) Buyer is satisfied that there are no Hazardous Materials (as defined in Section 7.4(b)) on the Property; and (iii) Buyer is in receipt of all plans, specifications, permits, soil studies, environmental audits, and any other related information, including the Development Documents, if any, which are available to Seller. Buyer shall have ninety one hundred eighty (90180) days from after the date recordation of full the execution of this the Agreement (the "Feasibility Period") to determine whether give Seller written notice that this condition is satisfied. (a) Buyer agrees that it shall be solely responsible for the nature, scope and extent of its investigations of the Property, and no statements made or information provided by Seller shall be construed or relied upon as advice or recommendation as to the kind or extent of any studies, tests or evaluations which should be obtained by Buyer or will be adequate for Buyer’s purposes. No physical intrusions of the Property is suitable for shall occur without the Seller’s prior written consent, which shall not be unreasonably withheld or delayed. Buyer agrees to indemnify, defend and hold Seller harmless from and against any and all liens, claims, loss or liability arising out of Buyer's intended purpose, on the conditions set forth in paragraph 10 of this Agreement. b. If or Buyer, in the exercise of its sole discretion, decides that 's Agents' entry onto the Property is not suitable for Buyer's intended purpose for any reason or for no reason Buyer may terminate this Agreement by giving Notice prior to this effect to Seller at any time during the Feasibility Period but not thereafterClosing. If such Notice is given, Buyer shall be entitled return the Property to a return its pre-existing condition immediately upon completion of its Initial Depositany invasive inspection. Once This indemnification and defense obligation shall survive the Feasibility Period expires and if Buyer has not exercised its right to terminatefeasibility period, Buyer's right to terminate this Agreement under the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable to Buyer, unless Buyer terminates this Agreement due to Seller’s failure to deliver title in accordance with the terms of this Agreement. Notwithstanding anything set forth herein to the contrary, at Settlement, the Deposit will be refunded to Buyer provided that the full Purchase Price is paid to Seller in accordance with Paragraph 2b termination of this Agreement, unless Seller has drawn on the Letter of Credit(s), in which case, the amount drawn down by Seller will be applied to the Purchase Priceand Closing. c. If Buyer does not terminate this Agreement on or prior to ninety (90) days from the date hereof, as provided for in paragraph 3b of this Agreement. Buyer agrees to accept the Property on an AS IS, WHERE IS condition, with all faults. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth herein. Buyer further acknowledges that Seller has made no warranty or representation and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Property.

Appears in 1 contract

Sources: Purchase and Sale Agreement

Feasibility. a. Buyer shall (a) During the fifteen (15) business day period following the latest of the dates on which Purchaser and Seller have ninety (90) days from the date of full execution of both executed this Agreement (the "Feasibility Period”) "), Purchaser, its agents, employees and contractors shall have the right to determine whether enter the Property is suitable for Buyer's intended purposethe purpose of inspecting improvements, on making surveys, updating the conditions set forth in paragraph 10 of this Agreement. b. If Buyerdue diligence materials previously delivered to Purchaser pursuant to 6(b) below, and performing other tests, studies and examinations as Purchaser, in the exercise of its sole discretion, decides that desires and to confirm the Property availability of financing, on terms and conditions acceptable to Purchaser. If Purchaser is not suitable for Buyer's intended purpose for satisfied, in its sole discretion, with the results of all updated tests including any reason materially adverse facts or for no reason Buyer conditions not shown in the Due Diligence Materials (defined below) which may terminate this Agreement be revealed by giving Notice to this effect an updated Phase I Environmental report, survey or title examination, Purchaser shall have the right, upon written notice to Seller at any time during given prior to expiration of the Feasibility Period but not thereafter. If such Notice is givenPeriod, Buyer shall be entitled to a return of its Initial Deposit. Once the Feasibility Period expires and if Buyer has not exercised its right to terminate, Buyer's right to terminate this Agreement under Agreement, in which event the terms of this paragraph 3 shall expire absolutely, and the Initial Deposit and Additional Deposit shall be non-refundable returned to BuyerPurchaser. (b) Purchaser acknowledges that Seller has delivered to Purchaser the materials listed on Exhibit B (the "Due Diligence Materials"), unless Buyer terminates this Agreement and that all matters disclosed by such deliveries are acceptable to Purchaser and shall not be the basis for any objection hereunder. The matters of title and survey reflected in the materials already delivered to Purchaser are "Permitted Exceptions" deemed acceptable to Purchaser. Seller shall promptly deliver to Purchaser such other due to diligence materials in Seller’s failure to deliver title 's possession as Purchaser may specifically identify in accordance with the terms writing, excluding any materials of this Agreement. Notwithstanding anything set forth herein a proprietary nature, not relating to the contrary, condition or performance of the Property or the tenant. All due diligence updates shall be at Settlement, the Deposit will be refunded to Buyer provided that the full Purchase Price is paid to Seller in accordance with Paragraph 2b of this Agreement, unless Seller has drawn on the Letter of Credit(s), in which case, the amount drawn down by Seller will be applied to the Purchase PricePurchaser's sole expense. c. (c) If Buyer does notice of termination is not terminate this Agreement on or given prior to ninety expiration of the Feasibility Period, all such matters shall be deemed acceptable and all such conditions satisfied and/or waived and the termination right under 6(a) shall be extinguished. (90d) days from the date hereof, as provided for in paragraph 3b of this Agreement. Buyer Purchaser agrees to accept repair any damage caused directly by exercise of the Property on an AS ISright of access granted to Purchaser in this paragraph, WHERE IS conditionand to indemnify and hold the Seller harmless from any and all losses actually incurred as a direct result of the exercise of such right of access, with all faults. Buyer specifically acknowledges that if Settlement occurs, it has agreed to purchase the Property other than as a result of its inspection and studies and not due to any warranties, representations or covenants expressed or implied regarding the condition of the Property made by Seller or by anyone acting or purporting to act on Seller's behalf except as specifically set forth hereinnegligence or willful misconduct. Buyer further acknowledges that Seller has made no warranty or representation will cooperate and is making no warranty or representation regarding the environmental condition of the Property. Effective at Settlement and assist Purchaser's access to the fullest extent permitted by law, Buyer hereby releases, discharges and forever acquits Seller and all of Seller’s officers, directors, shareholders, employees, agents and independent contractors and successors, and each and every one of them, from all demands, claims, liabilities, obligations, costs and expenses, which Buyer may suffer or incur relating to the Propertybuildings.

Appears in 1 contract

Sources: Purchase Agreement (Aei Income & Growth Fund 25 LLC)