Common use of Present Condition Clause in Contracts

Present Condition. Subject to Section 2.5(i) and Section 3.2(c) and except as specifically set forth in Section 9.1, the Lessee understands, agrees and acknowledges that the Lessee (i) by the execution of this Agreement, agrees to accept the LMM Airport Facility “AS IS” at the Time of Closing (subject to the “Excluded Liabilities” and subject to the Authority’s obligation for Restoration under Section 2.5(i)) and (ii) has inspected the LMM Airport Facility and is aware of its condition and acknowledges that the Authority neither has made nor is making any representation or warranty, express or implied, regarding the condition of the LMM Airport Facility (or any part thereof) or its suitability for the Lessee’s proposed use.

Appears in 3 contracts

Sources: Lease Agreement (Southeast Airport Group), Lease Agreement, Lease Agreement