Common use of Approval/Disapproval Clause in Contracts

Approval/Disapproval. Upon receipt of the notice described in Section 2.18(A)(i) by the Funding Agents, each Funding Agent shall, no later than five (5) Business Days after receipt thereof, obtain the written approval or disapproval of each Non-Conduit Lender in the related Lender Group regarding the requested Advances, which approval shall be granted or not granted in the sole discretion of the Non-Conduit Lenders. If the making of the requested Advances is approved by each of the Non-Conduit Lenders so requested, the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing. Any approved Advances to be made by the Lenders in the related Lender Group shall be funded within such Lender Group pursuant to any allocation as agreed to by all of the members of such Lender Group. If the making of the requested Advances is not approved by any Non-Conduit Lender so requested, then the Borrower shall, prior to sending its Notice of Borrowing, modify the same in a manner sufficient to ensure that the requested borrowing does not cause the Aggregate Outstanding Advances to exceed the Aggregate Commitment then in effect, as applicable. If the making of the requested Advances is approved by one or more Non-Conduit Lenders so requested and not approved by one or more Non-Conduit Lender so requested, the approving Non-Conduit Lenders shall have the right, but not the obligation, to make all or a portion of the Advance requested of the non-approving Non-Conduit Lenders, and the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing.

Approval/Disapproval. Upon receipt of the notice described in Section 2.18(A)(i2.18(A) by the Funding Agents, each Funding Agent shall, no later than five (5) Business Days after receipt thereof, obtain the written approval or disapproval of each Non-Conduit Lender in the related Lender Group regarding the requested Advances, which approval shall be granted or not granted in the sole discretion of the Non-Conduit Lenders. If the making of the requested Advances is approved by each of the Non-Conduit Lenders so requested, the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing. Any approved Advances to be made by the Lenders in the related Lender Group shall be funded within such Lender Group pursuant to any allocation as agreed to by all of the members of such Lender Group. If the making of the requested Advances is not approved by any Non-Conduit Lender so requested, then the Borrower shall, prior to sending its Notice of Borrowing, modify the same in a manner sufficient to ensure that the requested borrowing does not cause the Aggregate Outstanding Advances to exceed the Aggregate Commitment then in effect, as applicable. If the making of the requested Advances is approved by one or more Non-Conduit Lenders so requested and not approved by one or more Non-Conduit Lender so requested, the approving Non-Conduit Lenders shall have the right, but not the obligation, to make all or a portion of the Advance requested of the non-approving Non-Conduit Lenders, and the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.

Approval/Disapproval. Upon receipt If, prior to the Contingency Date, Buyer determines that it is dissatisfied, in Buyer’s sole and absolute discretion, with any aspects of the Property and/or its condition or suitability for Buyer’s intended use, or with any of the Materials, then Buyer may terminate this Agreement and the Escrow created pursuant hereto by delivering written notice described to Seller and Escrow Holder on or before the Contingency Date of Buyer’s election to terminate (the “Disapproval Notice”), in Section 2.18(A)(iwhich event (i) this Agreement and the Escrow created pursuant hereto shall terminate and be of no further force or effect (except for those obligations which expressly survive any such termination), and (ii) Escrow Holder shall return to Buyer the Deposit and all interest accrued thereon (less Buyer’s share of escrow cancellation charges). Seller acknowledges that if Buyer terminates this Agreement for any reason prior to the Contingency Date, Escrow Holder shall be authorized and is hereby directed to return the Deposit to Buyer without any further consent or approval from Seller. If Buyer fails to deliver the Disapproval Notice to Seller and Escrow Holder on or before the Contingency Date, such failure shall constitute Buyer’s election to proceed with the transaction contemplated by this Agreement. Except as provided in Paragraph 7.1 with respect to certain Title Matters and Monetary Liens, and except as may be otherwise agreed by the Funding Agentsparties in writing, each Funding Agent shallSeller shall have no right or obligation to cure any matter disapproved by Buyer. The conditions set forth in this Paragraph 7 are solely for the benefit of Buyer and may be waived only by Buyer. Buyer shall at all times have the right to waive any condition. Except as expressly provided otherwise in this Agreement, no later than five (5) Business Days after receipt thereofnothing contained in this Agreement shall require Seller to bring any suit or other proceeding or to pay any substantial sum, obtain the written approval or disapproval to satisfy any of each Non-Conduit Lender in the related Lender Group regarding the requested Advances, which approval shall be granted or not granted in the sole discretion such conditions. If any of the Non-Conduit Lendersconditions in this Paragraph 7 is not timely satisfied or waived by Buyer, Buyer shall deliver written notice to Escrow Holder and Seller on or before the applicable date relating to such condition and describing the condition that has not been satisfied or waived, and unless such failure is due to a material default by Seller in which case the provisions of Paragraph 15 of this Agreement shall apply, Buyer shall have the right by such notice to terminate this Agreement and the Escrow. If the making of the requested Advances is approved by each of the Non-Conduit Lenders so requested, the Borrower shall, Buyer timely terminates this Agreement in accordance with procedures set forth in Section 2.4the foregoing, send the related Notice Deposit, or such portion thereof that has theretofore been deposited by Buyer with Escrow Holder (less one-half of Borrowing. Any approved Advances to be made by the Lenders in the related Lender Group any escrow and title cancellation fees and costs) shall be funded within refunded to Buyer, all documents deposited into Escrow shall be returned to the party depositing such Lender Group pursuant to documents, and neither party shall have any allocation as agreed to by all further rights or obligations under this Agreement, except for those rights or obligations which expressly survive the termination of the members this Agreement. If Buyer does not timely deliver written notice of such Lender Group. If failed conditions, Buyer shall be deemed to have waived the making of the requested Advances is not approved by any Non-Conduit Lender so requested, then the Borrower shall, prior to sending its Notice of Borrowing, modify the same in a manner sufficient to ensure that the requested borrowing does not cause the Aggregate Outstanding Advances to exceed the Aggregate Commitment then in effect, as applicable. If the making of the requested Advances is approved by one or more Non-Conduit Lenders so requested and not approved by one or more Non-Conduit Lender so requested, the approving Non-Conduit Lenders shall have the right, but not the obligation, to make all or a portion of the Advance requested of the non-approving Non-Conduit Lenders, and the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowingsame.

Approval/Disapproval. Upon receipt of the notice described in Section 2.18(A)(i2.18(A) by the Funding Agents, each Funding Agent shall, no later than five (5) Business Days after receipt thereof, obtain the written approval or disapproval of each Non-Conduit Lender in the related Lender Group regarding the requested Advances, which approval shall be granted or not granted in the sole discretion of the Non-Conduit Lenders. If the making of the requested Advances is approved by each of the Non-Conduit Lenders so requested, the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing. Any approved Advances to be made by the Lenders in the related Lender Group shall be funded within such Lender Group pursuant to any allocation as agreed to by all of the members of such Lender Group. If the making of the requested Advances is not approved by any Non-Conduit Lender so requested, then the Borrower shall, prior to sending its Notice of Borrowing, modify the same in a manner sufficient to ensure that the requested borrowing does not cause the Aggregate Outstanding Advances to exceed the Aggregate Commitment then in effect, as applicable. If the making of the requested Advances is approved by one or more Non-Conduit Lenders so requested and not approved by one or more Non-Conduit Lender so requested, the approving Non-Conduit Lenders shall have the right, but not the obligation, to make all or a portion of the Advance requested of the non-approving Non-Conduit Lenders, and the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing.

Approval/Disapproval. Upon receipt of the notice described in Section 2.18(A)(i) by the Funding Agents, each Funding Agent shall, no later than five (5) Business Days after receipt thereof, obtain the written approval or disapproval of each Non-Conduit Lender in the related Lender Group regarding the requested Advances, which approval shall be granted or not granted in the sole discretion of the Non-Conduit Lenders. If the making of the requested Advances is approved by each of the Non-Conduit Lenders so requested, the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing. Any approved Advances to be made by the Lenders in the related Lender Group shall be funded within such Lender Group pursuant to any allocation as agreed to by all of the members of such Lender Group. If the making of the requested Advances is not approved by any Non-Conduit Lender so requested, then the Borrower shall, prior to sending its Notice of Borrowing, modify the same in a manner sufficient to ensure that the requested borrowing does not cause the Aggregate Outstanding Advances to exceed the Aggregate Commitment then in effect, as applicable. If the making of the requested Advances is approved by one or more Non-Conduit Lenders so requested and not approved by one or more Non-Conduit Lender so requested, the approving Non-Conduit Lenders shall have the right, but not the obligation, to make all or a portion of the Advance requested of the non-approving Non-Conduit Lenders, and the Borrower shall, in accordance with procedures set forth in Section 2.4, send the related Notice of Borrowing. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.