Purchaser’s Inspection of Property Clause Samples

The Purchaser’s Inspection of Property clause grants the buyer the right to examine the property before finalizing the purchase. Typically, this allows the purchaser to conduct inspections for structural integrity, pest infestations, or compliance with local codes, often within a specified timeframe and sometimes with the option to bring in professional inspectors. This clause ensures that the buyer is fully informed about the property's condition, helping to prevent disputes and unexpected costs after the sale is completed.
Purchaser’s Inspection of Property. (a) Seller acknowledges and agrees that, prior to Closing, Purchaser may conduct further inspections, testing, investigation and surveying in the Building, subject to and in accordance with the further provisions of this Agreement. If Purchaser shall hereafter inspect, test, investigate or survey any of the Twentieth Floor Unit, the Limited Common Elements appurtenant thereto or the General Common Elements, Purchaser shall restore such portion of the Property to its condition existing immediately prior to Purchaser’s inspection, testing, investigation or survey thereof. Purchaser shall be liable for all damage or injury to any person or property (including other portions of the Property) resulting from, relating to or arising out of any such inspection, testing, investigation or survey, whether occasioned by the acts of Purchaser or any of its employees, agents, shareholders, directors, partners, members, consultants, engineers, inspectors, representatives or contractors (collectively “Purchaser’s Representatives”), and Purchaser shall promptly satisfy any lien that may arise or be filed against Seller or the Property in connection with any such inspection, testing, investigation or survey. Purchaser shall indemnify, defend and hold harmless Seller and its agents, employees, officers, directors, affiliates, advisors and asset managers from any liability resulting from any such inspection, testing, investigation or survey and any lien filed against Seller or the Property in connection therewith. This indemnification by Purchaser shall survive the Closing or the termination of this Agreement.
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Purchaser’s Inspection of Property. A. Access to the Property. Commencing on the Effective Date and continuing through Closing (the “Access Period”), Purchaser, its representatives, agents and contractors shall, at all reasonable times, have the privilege of going upon the Property, as needed, to inspect, examine and test the Property and the Assets, including, but not limited to conducting investigations of the physical status of the Property and the engineering of the Property. This privilege shall also include, but not be limited to, the right to obtain any relevant information necessary to determine subsurface and topographic environmental conditions (including Phase I and Phase II testing if necessary), soil tests, asbestos analysis and mold sampling, all of which tests, studies and reviews shall be performed at Purchaser’s sole cost and expense. Any damage to the Property resulting from Purchaser’s inspections or testing of the Property, including disturbance of the surface or subsurface soils of the land, shall be restored, at Purchaser’s sole cost and expense, to substantially the condition existing as of the Effective Date.
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Purchaser’s Inspection of Property. Section 9.04. If prior to the Closing Purchaser shall hereafter inspect, test, investigate or survey the Unit, Purchaser shall restore such portion of the Property to its condition existing immediately prior to Purchaser's inspection, testing, investigation and survey thereof. Purchaser shall be liable for all damage or injury to any person or property (including other portions of the Property) resulting from or arising out of any such inspection, testing, investigation or survey, whether occasioned by the acts of Purchaser or any of its employees, agents, shareholders, directors, partners, members, consultants, engineers, inspectors, representatives or contractors (collectively, "Purchaser's Representatives"), and Purchaser shall promptly satisfy any lien that may arise or be filed against Seller or the Property in connection with any such inspection, testing, investigation or survey. Purchaser shall indemnify, defend and hold harmless Seller and its agents, employees, officers, directors, affiliates, advisors and asset managers from any liability resulting from any such inspection, testing, investigation or survey and any lien filed against Seller or the Property as a result thereof. This indemnification by Purchaser shall survive the Closing or the termination of this Agreement. (a) In conducting any inspection, testing, investigation or surveying of the Unit prior to the Closing, neither Purchaser nor any of Purchaser's Representatives shall (i) contact or have any discussions with any of Seller's employees, agents or representatives, or with any tenants at, or contractors providing services to, the Property, unless in each case Purchaser obtains the prior consent of Seller, it being agreed that all such contacts or discussions shall, pending any such approval, be directed to ▇▇▇▇ ▇▇▇▇▇, (ii) unreasonably interfere with the business of Seller or (iii) damage the Property or any portion thereof. In conducting any inspection, testing, investigation or surveying prior to the Closing, Purchaser and Purchaser's Representatives shall at all times comply with, and shall be subject to, all other terms, covenants and conditions of this Agreement. Purchaser shall schedule and coordinate all such inspections, testing, investigation, or surveying, including, without limitation, any environmental test, with Seller and shall give Seller at least two (2) Business Days prior notice thereof. Seller shall be entitled to have a representative present at all times during ...
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Purchaser’s Inspection of Property 
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Related to Purchaser’s Inspection of Property

  • Inspection of Property The Borrower and each of its Subsidiaries will keep proper books and records in accordance with GAAP and will permit reasonable examinations of its books and records and reasonable inspections of its property (subject to reasonable procedures relating to safety and security), accompanied by personnel of the Borrower, by the Administrative Agent and any Lender and/or their respective accountants or other professional advisers; provided that such examinations and inspections (a) will occur not more frequently than once in any calendar year, with reasonable efforts to make combined visits (unless a Default or an Event of Default has occurred and is continuing in which case such examinations may occur as frequently as reasonably determined by the Administrative Agent or any Lender, with no obligation to combine visits), (b) will be at the sole expense of the Administrative Agent and/or requesting Lender, as the case may be (unless a Default or an Event of Default has occurred and is continuing in which case such examinations will be at the expense of the Borrower), (c) will be undertaken at reasonable times following the provision of written notice in advance to the Borrower, and (d) will not unduly interfere with the operations or management of the Borrower’s business. Notwithstanding anything set forth herein to the contrary, under no circumstances shall the Borrower or any Subsidiary be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter (i) that constitutes non−financial trade secrets or non-financial confidential proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective Affiliates, representatives, contractors, accountants or other professionals) is prohibited by any Governmental Rule or binding confidentiality agreement with a Person that is not an Affiliate of the Borrower and that was not entered into in contemplation of this Agreement, (iii) that is subject to attorney−client or similar privilege or constitutes attorney work product, or (iv) in the case of any discussions with accountants, only if the Borrower has been given the opportunity to participate in the discussions.

  • Property Inspections The Servicer shall conduct property inspections in accordance with the milestones of the repair and rehabilitation plan for such Mortgaged Property and prepare Property Inspection Reports on any Mortgaged Property involving property damage over $15,000. The Servicer shall furnish a copy of the repair and rehabilitation plan for such Mortgaged Property to the Master Servicer upon request.

  • Records; Inspection Artiva shall, and shall cause its Affiliates and Sublicensees to, keep complete, true and accurate books of account and records for the purpose of determining the payments to be made under this Agreement. Such books and records shall be kept for [***] years following the end of the calendar year to which they pertain. Such records shall be open for inspection during such period by independent accountants, solely for the purpose of verifying payment statements hereunder for a period covering not more than [***] months prior to the date of request; provided that no period shall be subject to inspection under this section more than once and inspections with respect to payments on a Product under this Agreement shall be done concurrently with respect to payments on the same Product under the Option Agreement to avoid duplication. Such inspections shall be made no more than once each calendar year, on reasonable notice during normal business hours. The independent accountants will execute a reasonable written confidentiality agreement with Artiva and will disclose to GCLC only such information as is reasonably necessary to provide GCLC with information regarding any actual or potential discrepancies between amounts reported and actually paid and amounts payable under this Agreement. The auditor will send a copy of the report to Artiva at the same time it is sent to GCLC. The report sent to both Parties will include the methodology and calculations used to determine the results. Any unpaid amounts that are discovered shall be paid promptly by Artiva. Inspections conducted under this Section 3.5 shall be at the expense of GCLC, unless the inspection discloses an underpayment by Artiva of [***] or more of the amount due for any period covered by the inspection, whereupon all costs relating to the inspection for such period shall be paid promptly by Artiva. If the inspection discloses an overpayment by Artiva, then Artiva will deduct the amount of such overpayment from amounts otherwise owed to GCLC under this Agreement, unless no further payments are due hereunder, in which case the amount of such overpayment shall be refunded by GCLC to Artiva.

  • Property Inspection The Servicer is required to inspect each Delinquent Mortgaged Property at such time and in such manner as is in accordance with Prudent Servicing Practices. The Servicer must prepare a Property Inspection Report following each inspection. All Property Inspection Reports must be retained by the Servicer and copies thereof must be forwarded to the Master Servicer promptly upon request. All expenses related to the foregoing shall be recoverable by the Servicer from the Principal or from Liquidation Proceeds, Insurance Proceeds, payments on the related Mortgage Loan or any other source relating to the related Mortgage Loan or the related Mortgaged Property. The foregoing shall not preclude the Servicer from recovering such expenses from the Borrower to the extent permitted by applicable law and the related Mortgage Loan Documents.

  • Condition of Property Seller or the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within six months of origination of the Mortgage Loan and within twelve months of the Cut-off Date. An engineering report or property condition assessment was prepared in connection with the origination of each Mortgage Loan no more than twelve months prior to the Cut-off Date. To Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination of comparable mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of any material damage (other than (i) deferred maintenance for which escrows were established at origination and (ii) any damage fully covered by insurance) that would affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan.