Common use of Present Condition Clause in Contracts

Present Condition. Subject to Section 2.5(i) and except as specifically set forth herein, the Concessionaire understands, agrees and acknowledges that the Concessionaire (i) by the execution of this Agreement, agrees to accept the System “AS IS” at the Time of Closing and (ii) has inspected the System and is aware of its condition and acknowledges that the City has not made and is not making any representation or warranty, express or implied, regarding the condition of the System (or any part thereof) or its suitability for the Concessionaire’s proposed use.

Present Condition. Subject to Section Sections 2.5(i) and 3.2(c)(ii) and except as specifically set forth herein, the Concessionaire understands, agrees and acknowledges that the Concessionaire (i) by the execution of this Agreement, agrees to accept the System “AS IS” at the Time of Closing and (ii) has inspected the System and is aware of its condition and acknowledges that neither the City Authority nor the Borough has not made made, and neither is not making making, any representation or warranty, express or implied, regarding the condition of the System (or any part thereof) or its suitability for the Concessionaire’s proposed use.