Common use of Inspections in General Clause in Contracts

Inspections in General. During the Due Diligence Period, Purchaser, its agents, and employees shall have the right to enter upon the Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Before any such entry, Purchaser shall provide Seller with a certificate of commercial general liability insurance naming Seller as an additional insured and with an insurer rated by A.M Best’s Rating of no less than A- VII and insurance limits of $2 million per occurrence and in the aggregate. All of such entries upon the Property shall be at reasonable times during normal business hours and after at least 24 hours prior written or oral notice to Seller or Seller’s agent, and Seller or Seller’s agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Property. Within 5 days after Seller’s request, Purchaser shall provide Seller with a copy of the results of any tests and inspections made by or for Purchaser, excluding only market and economic feasibility studies (the “Purchaser’s Reports”). If any inspection or test disturbs the Property, Purchaser will restore the Property to the same condition as existed before the inspection or test. Purchaser shall indemnify, defend and hold harmless Seller and Seller’s shareholders, directors, officers, agents, contractors and employees and the Property from and against any and all losses, costs, damages, claims, or liabilities arising out of or in connection with any entry or inspections performed by Purchaser, its agents or representatives. This indemnity shall survive the closing and any termination of this Agreement.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Rae Systems Inc)

Inspections in General. During the Due Diligence Period, Purchaser, its agents, and employees shall have the right to enter upon the Property for the purpose of making non-invasive inspections at Purchaser’s 's sole risk, cost and expense. Before any such entry, Purchaser shall provide Seller with a certificate of commercial general liability insurance naming Seller as an additional insured and with an insurer rated by A.M Best’s Rating of no less than A- VII and insurance limits of $2 million per occurrence and in the aggregatereasonably satisfactory to Seller. All of such entries upon the Property shall be at reasonable times during normal business hours and after at least 24 hours prior written or oral notice to Seller or Seller’s 's agent, and Seller or Seller’s 's agent shall have the right to accompany Purchaser during any activities performed by Purchaser on the Property. Within 5 days after Purchaser shall not disturb the tenants on the Property, and Purchaser's inspection shall be subject to the rights of tenants under their Lease. At Seller’s 's request, Purchaser shall provide Seller with a copy of the results of any tests and inspections made by or for Purchaser, excluding only market and economic feasibility studies (the “Purchaser’s Reports”)studies. If any inspection or test disturbs the Property, Purchaser will restore the Property to the same condition as existed before the inspection or test. Purchaser shall indemnifydefend, defend indemnify Seller and hold harmless Seller and Seller’s shareholders, directorsSeller's trustees, officers, tenants, agents, contractors and employees and the Property harmless from and against any and all losses, costs, damages, claims, or liabilities liabilities, including but not limited to, mechanic's and materialmen's liens and Seller's attorneys' fees, arising out of or in connection with any entry or inspections performed by Purchaser, its agents or representatives. This indemnity shall survive 's inspection of the closing and any termination of this AgreementProperty as allowed herein.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)