Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (ii) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender and Lender may reasonably reach different conclusions, and (iii) Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view. Further, the denial by Lender of a requested consent or approval shall not create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Lender, such consent or approval shall not be binding or controlling on Lender. Borrower acknowledges and agrees that (i) the risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (ii) in determining whether to grant, deny, withhold or condition any requested consent or approval, Mezzanine A Lender and Lender may reasonably reach different conclusions, and (iii) Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view, but subject to the standards of consent set forth herein. Furthermore, the denial by Lender of a requested consent or approval shall not create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mezzanine A Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial unless Lender has not complied with any applicable standard for consent. The rights described above may be exercised by any entity which owns and controls, directly or indirectly, substantially all of the interests in Lender.
Independent Approval Rights. (a) If any action, proposed action or other decision is consented to or approved by Mortgage Lender or First Mezzanine Lender, such consent or approval shall not be binding or controlling on Lender; provided, however, that, notwithstanding anything to the contrary which may be contained in this Agreement, and as between Lender and Borrowers only, Lender shall be deemed to have approved or waived any document delivered or action taken, or required to be delivered or taken, by Mortgage Borrowers to Mortgage Lender under the Mortgage Loan Agreement related to the construction of the Project which is approved or waived in writing by Mortgage Lender under the Mortgage Loan Documents.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender or the Other Mezzanine Lender, such consent or approval shall not, except as and to the extent herein provided otherwise, be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender and the Other Mezzanine Lender in making the Mortgage Loan and the Other Mezzanine Loan are different from the risks of Lender in making the Loan, (ii) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, the Other Mezzanine Lender and Lender may reasonably reach different conclusions, and (iii) except as and to the extent herein provided otherwise, Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view. Further, the denial by Lender of a requested consent or approval shall not create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender, Mezzanine A Lender, Mezzanine B Lender or Mezzanine C Lender, such consent or approval shall not be binding or controlling on Lender. Pledgor hereby acknowledges and agrees that (i) the risks of Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (ii) the risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) the risks of Mezzanine B Lender in making the Mezzanine B Loan are different from the risks of Lender in making the Loan, (iv) the risks of Mezzanine C Lender in making the Mezzanine C Loan are different from the risks of Lender in making the Loan, (v) the risks of Mezzanine E Lender in making the Mezzanine E Loan are different from the risks of Lender in making the Loan, (vi) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, Mezzanine A Lender, Mezzanine B Lender, Mezzanine C Lender, Mezzanine E Lender and Lender may reasonably reach different conclusions, and (vii) Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view. Further, the denial by Lender of a requested consent or approval shall not create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan, the Mezzanine A Loan, the Mezzanine B Loan, the Mezzanine C Loan or the Mezzanine E Loan, and Pledgor hereby waives any claim of liability against Lender arising from any such denial.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender, such consent or approval shall not be binding or controlling on Lender if Lender has such consent and/or approval rights under this Agreement. Borrower hereby acknowledges and agrees that (a) the risks of Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (b) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender and Lender may reasonably reach different conclusions, and (c) Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view in accordance with the terms hereof. Further, the denial by Lender of a requested consent or approval in accordance with the Loan Documents shall not create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender or Mezzanine A Lender, such consent or approval shall not, except as otherwise expressly provided in this Agreement or the other Loan Documents, be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (ii) the risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) [intentionally omitted], (iv) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, Mezzanine A Lender and Lender may reasonably reach 164 different conclusions, and (v) Lender has an independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view, subject, however, to any requirements of reasonableness or good faith expressly set forth in this Agreement or the other Loan Documents. Further, the denial by Lender of a requested consent or approval shall not, provided such denial shall not constitute a default by Lender under this Agreement, create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan or the Mezzanine A Loan and Borrower hereby waives any claim of liability against Lender arising from any such denial, provided such denial shall not constitute a default by Lender under this Agreement. Notwithstanding anything to the contrary contained in this Section 9.16, to the extent that Mortgage Lender requires Mortgage Borrower to perform, or refrain from performing, any action pursuant to the terms of the Mortgage Loan Documents, Lender shall not withhold its consent to the performance or, or the refraining from performing, such action only if such failure to act or refrain from acting by Mortgage Borrower (after the expiration of any applicable notice and cure periods) would be a Mortgage Loan Event of Default.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender, such consent or approval shall not be binding or controlling on Administrative Agent except to the extent otherwise expressly stated herein. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (ii) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender and Administrative Agent may reasonably reach different conclusions, and (iii) subject to the express terms of this Agreement, Administrative Agent has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view. Further, the denial by Administrative Agent of a requested consent or approval shall not create any liability or other obligation of Administrative Agent if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan, and Borrower hereby waives, to the extent permitted by applicable law, any claim of liability against Administrative Agent arising from any such denial.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender, First Mez Lender, Second Mez Lender or Third Mez Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (a) the risks of Mortgage Lender in making the Mortgage Loan, the risks of First Mez Lender in making the First Mez Loan, the risks of Second Mez Lender in making the Second Mez Loan and the risks of Third Mez Lender in making the Third Mez Loan are different from the risks of Lender in making the Loan, (b) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, First Mez Lender, Second Mez Lender, Third Mez Lender and Lender may reasonably reach different conclusions, and (c) Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view in accordance with the terms hereof. Further, the denial by Lender of a requested consent or approval in accordance with the Loan Documents shall not create any liability or other obligation of Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan, the First Mez Loan, the Second Mez Loan and/or the Third Mez Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial.
Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Senior Administrative Agent and/or Senior Lender, such consent or approval shall not be binding or controlling on Administrative Agent or Lenders. Borrower hereby acknowledges and agrees that (i) the risks of Senior Lender in making the Senior Loan are different from the risks of Lender in making the Loan, (ii) in determining whether to grant, deny, withhold or condition any requested consent or approval, Senior Administrative Agent, Senior Lender and Administrative Agent may reasonably reach different conclusions, and (iii) Administrative Agent has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view, but subject to the standards of consent set forth herein. Furthermore, the denial by Administrative Agent of a requested consent or approval shall not create any liability or other obligation of Administrative Agent if the denial of such consent or approval results directly or indirectly in a Senior Loan Event of Default, and Borrower hereby waives any claim of liability against Administrative Agent arising from any such denial unless Administrative Agent has not complied with any applicable standard for consent.
