Common use of Approval of Loans and Loan Documents Clause in Contracts

Approval of Loans and Loan Documents. Junior Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves of, all of the terms and provisions of the Senior Loan Documents, (ii) the performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Loan Documents, and (iii) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Loan Documents, (ii) the execution, delivery and performance of the Junior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Lender is under no obligation or duty to, nor has Junior Lender represented that it will, see to the application of the proceeds of the Junior Loan by Borrower or any other Person to whom Junior Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Loan for purposes other than those provided in the Junior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Loan Documents. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s consent to supplemental financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Loan Documents or the making of the Junior Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. Junior (a) Subordinate Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves ofof the making of the Senior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Subordinate Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by Borrower or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Subordinate Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Subordinate Loan Documents, (ii) the execution, delivery and performance of the Junior Subordinate Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Subordinate Lender is under no obligation or duty to, nor has Junior Subordinate Lender represented that it will, see to the application of the proceeds of the Junior Subordinate Loan by Borrower or any other Person to whom Junior Subordinate Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Subordinate Loan for purposes other than those provided in the Junior Subordinate Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Subordinate Loan Documents. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s consent to supplemental second mortgage financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Subordinate Loan Documents or the making of the Junior Subordinate Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. Junior (a) Mezzanine Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves ofof the making of the Senior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by Borrower or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Mezzanine Lender is under no obligation or duty to, nor has Junior Mezzanine Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Mezzanine Borrower or any other Person to whom Junior Mezzanine Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s consent to supplemental mezzanine financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Mezzanine Loan Documents or the making of the Junior Mezzanine Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. Junior (a) Mezzanine Lender hereby acknowledges that (i) it has received and reviewed reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of, of the making of the Senior Loan and all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by any Senior Debtor or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Mezzanine Lender is under no obligation or duty to, nor has Junior Mezzanine Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Mezzanine Borrower or any other Person to whom Junior Mezzanine Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s consent to supplemental financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Loan Documents or the making of the Junior Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. Junior (a) Mezzanine Lender hereby acknowledges that (i) it has received and reviewed reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of, of the making of the Senior Loan and all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by any Senior Debtor or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Mezzanine Lender is under no obligation or duty to, nor has Junior Mezzanine Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Xxxxxxxxx Borrower or any other Person to whom Junior Mezzanine Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s consent to supplemental financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Loan Documents or the making of the Junior Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. (a) Junior Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves of, all of the terms and provisions of the Senior Loan Documents, (ii) the performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Loan Documents, and (iii) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Loan Documents, (ii) the execution, delivery and performance of the Junior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Lender is under no obligation or duty to, nor has Junior Lender represented that it will, see to the application of the proceeds of the Junior Loan by Borrower or any other Person to whom Junior Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Loan for purposes other than those provided in the Junior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Loan Documents. Senior Lender Xxxxxx hereby acknowledges and agrees that any conditions precedent to Senior LenderXxxxxx’s consent to supplemental financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Loan Documents or the making of the Junior Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. Junior Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves of, all of the terms and provisions of the Senior Loan Documents, (ii) the performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Loan Documents, and (iii) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Loan Documents, (ii) the execution, delivery and performance of the Junior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Lender is under no obligation or duty to, nor has Junior Lender represented that it will, see to the application of the proceeds of the Junior Loan by Borrower or any other Person to whom Junior Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Loan for purposes other than those provided in the Junior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Loan Documents. Senior Lender Xxxxxx hereby acknowledges and agrees that any conditions precedent to Senior LenderXxxxxx’s consent to supplemental financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Loan Documents or the making of the Junior Loan, have been either satisfied or waived.

Approval of Loans and Loan Documents. Junior (a) Subordinate Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves ofof the making of the Senior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that Senior Lender will, see to the application of the proceeds of the Senior Loan by Borrower or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. The foregoing consent and acknowledgement by Subordinate Lender is not intended and shall not be construed to (i) impose any duty or obligation on Subordinate Lender with respect to Senior Lender or with respect to the Senior Loan Documents other than as expressly set forth in this Agreement (and no such duty or obligation shall be implied), or (ii) amend or modify the respective obligations of the parties to the Mezzanine Loan Documents other than as expressly set forth herein. (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all the terms of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, execution and delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Subordinate Lender is under no obligation or duty to, nor has Junior Subordinate Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Mezzanine Borrower or any other Person to whom Junior Subordinate Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. The foregoing consent and acknowledgement by Senior Lender hereby acknowledges is not intended and agrees that shall not be construed to (i) impose any conditions precedent duty or obligation on Senior Lender with respect to Senior Lender’s consent Subordinate Lender or with respect to supplemental financing the Mezzanine Loan Documents other than as expressly set forth in this Agreement (and no such duty or obligation shall be implied), or (ii) amend or modify the respective obligations of the parties to the Senior Loan Documents or any other agreements with the Borrower, than as they apply to the Junior Loan Documents or the making of the Junior Loan, have been either satisfied or waivedexpressly set forth herein.

Approval of Loans and Loan Documents. Junior (a) Mezzanine Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves ofof the making of the Senior Loan and, all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by Borrowers or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Mezzanine Lender is under no obligation or duty to, nor has Junior Mezzanine Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Borrower Mezzanine Borrowers or any other Person to whom Junior Mezzanine Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s 's consent to supplemental mezzanine financing as set forth in the Senior Loan Documents or any other agreements with the BorrowerBorrowers, as they apply to the Junior Mezzanine Loan Documents or the making of the Junior Mezzanine Loan, have been either satisfied or waived. (c) Notwithstanding any provisions herein to the contrary, Senior Lender agrees that no default or Event of Default under the Mezzanine Loan Documents shall, in and of itself, constitute or give rise to a default or Event of Default under the Senior Loan Documents, entitle Senior Lender to accelerate payments under the Senior Loan Documents or entitle Senior Lender to modify any provisions of the Senior Loan Documents; provided, however, the circumstances giving rise to a default or Event of Default under the Mezzanine Documents may give rise to a default or Event of Default under the Senior Loan Documents.

Approval of Loans and Loan Documents. Junior (a) Mezzanine Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves ofof the making of the Senior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by Borrower or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Mezzanine Lender is under no obligation or duty to, nor has Junior Mezzanine Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Mezzanine Borrower or any other Person to whom Junior Mezzanine Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. Senior Lender hereby consents to Mezzanine Lender obtaining title to the Separate Collateral pledged to Mezzanine Lender subject to, with respect to the portion of the Separate Collateral constituting Equity Collateral, the provisions of Section 5 hereof. Senior Lender hereby acknowledges and agrees that any conditions precedent to Senior Lender’s consent to supplemental mezzanine financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Mezzanine Loan Documents or the making of the Junior Mezzanine Loan, have been either satisfied or waived. (c) Notwithstanding any provisions herein to the contrary, Senior Lender agrees that no default or Event of Default under the Mezzanine Loan Documents shall, in and of itself, constitute or give rise to a default or Event of Default under the Senior Loan Documents, entitle Senior Lender to accelerate payments under the Senior Loan Documents or entitle Senior Lender to modify any provisions of the Senior Loan Documents; provided, however, the circumstances giving rise to a default or Event of Default under the Mezzanine Loan Documents may give rise to a default or Event of Default under the Senior Loan Documents.

Approval of Loans and Loan Documents. Junior (a) Mezzanine Lender hereby acknowledges that (i) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves ofof the making of the Senior Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Senior Loan Documents, (ii) the execution, delivery and performance of the Senior Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Junior Mezzanine Loan Documents, (iii) Senior Lender is under no obligation or duty to, nor has Senior Lender represented that it will, see to the application of the proceeds of the Senior Loan by Borrower or any other Person to whom Senior Lender disburses such proceeds, and (iiiiv) any application or use of the proceeds of the Senior Loan for purposes other than those provided in the Senior Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Senior Loan Documents. . (b) Senior Lender hereby acknowledges that (i) it has received and reviewed, and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the making of the Junior Mezzanine Loan and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Junior Mezzanine Loan Documents, (ii) the execution, delivery and performance of the Junior Mezzanine Loan Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Loan Documents, (iii) Junior Mezzanine Lender is under no obligation or duty to, nor has Junior Mezzanine Lender represented that it will, see to the application of the proceeds of the Junior Mezzanine Loan by Mezzanine Borrower or any other Person to whom Junior Mezzanine Lender disburses such proceeds and (iv) any application or use of the proceeds of the Junior Mezzanine Loan for purposes other than those provided in the Junior Mezzanine Loan Documents shall not affect, impair or defeat the terms and provisions of this Agreement or the Junior Mezzanine Loan Documents. Senior Lender Xxxxxx hereby acknowledges and agrees that any conditions precedent to Senior LenderXxxxxx’s consent to supplemental mezzanine financing as set forth in the Senior Loan Documents or any other agreements with the Borrower, as they apply to the Junior Mezzanine Loan Documents or the making of the Junior Mezzanine Loan, have been either satisfied or waived.