Common use of Independent Approval Rights Clause in Contracts

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. If any action, proposed action or other decision is consented to or approved by Mortgage Lender or Senior Mezzanine A Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mezzanine A Mortgage Lender in making the Mortgage Loan and the risks of the Senior Mezzanine A Lender in making the Senior 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 approvalapproval Mortgage Lender, Senior 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. FurthermoreFurther, 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 or the Senior 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A 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, Mezzanine A 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, 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 Mortgage 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. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (ia) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A Mortgage Loan are different from the risks of Lender in making the Loan, (iib) in determining whether to grant, deny, withhold or condition any requested consent or approval, Mezzanine A Mortgage Lender and Lender may reasonably reach different conclusions, and (iiic) 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 LoanMortgage Loan Default, 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. If any action, proposed action or other decision is consented to or approved by Mortgage Lender or Mezzanine A LenderAdministrative Agent, such consent or approval shall not be binding or controlling on LenderAdministrative Agent except to the extent otherwise expressly stated herein. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender and Mezzanine A Lender in making the Mortgage Loan and Mezzanine A Loan Loan, respectively, 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 approvalapproval Mortgage Lender, Mezzanine A Lender Administrative Agent and Lender Administrative Agent may reasonably reach different conclusions, and (iii) Lender 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, but subject to the standards of consent set forth herein. FurthermoreFurther, the denial by Lender Administrative Agent of a requested consent or approval shall not create any liability or other obligation of Lender Administrative Agent if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan or Mezzanine A Loan, and Borrower hereby waives waives, to the extent permitted by applicable law, any claim of liability against Lender Administrative Agent 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender or Senior Mez Lender, such consent or approval shall not be binding or controlling on LenderLender if Lender has such consent and/or approval rights under this Agreement. Borrower hereby acknowledges and agrees that (ia) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A Mortgage Loan and the risks of Senior Mez Lender in making the Senior Mez Loan are different from the risks of Lender in making the Loan, (iib) in determining whether to grant, deny, withhold or condition any requested consent or approvalapproval Mortgage Lender, Mezzanine A Senior Mez Lender and Lender may reasonably reach different conclusions, and (iiic) 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 view in accordance with the standards of consent set forth hereinterms hereof. FurthermoreFurther, 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 Mezzanine A Mortgage Loan and/or the Senior Mez 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender, Intermediate Mez Lender or Senior Mez Lender, such consent or approval shall not be binding or controlling on LenderLender if Lender has such consent and/or approval rights under this Agreement. Borrower hereby acknowledges and agrees that (ia) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A Mortgage Loan, the risks of Intermediate Mez Lender in making the Intermediate Mez Loan and the risks of Senior Mez Lender in making the Senior Mez Loan are different from the risks of Lender in making the Loan, (iib) in determining whether to grant, deny, withhold or condition any requested consent or approvalapproval Mortgage Lender, Mezzanine A Intermediate Mez Lender, Senior Mez Lender and Lender may reasonably reach different conclusions, and (iiic) 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 view in accordance with the standards of consent set forth hereinterms hereof. FurthermoreFurther, 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 Mezzanine A Mortgage Loan, Intermediate Mez Loan and/or the Senior Mez 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A 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, Mezzanine A 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, 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 LoanMortgage Loan Default, 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. If any action, proposed action or other decision is consented to or approved by Mezzanine A B Lender, such consent or approval shall not be binding or controlling on Lender. Borrower acknowledges and agrees that (i) the risks of Mezzanine A B Lender in making the Mezzanine A B 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 B 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 B 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. If any action, proposed action or other decision is consented to or approved by Mortgage Lender or Senior Mezzanine A Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mezzanine A Mortgage Lender in making the Mortgage Loan and the risks of the Senior Mezzanine A Lender in making the Senior Mezzanine Loan are different from the risks of Lender in making the Loan, (ii) in determining 133 whether to grant, deny, withhold or condition any requested consent or approvalapproval Mortgage Lender, Senior 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. FurthermoreFurther, 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 or the Senior 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender or First Mez Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (ia) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A Mortgage Loan and the risks of First Mez Lender in making the First Mez Loan are different from the risks of Lender in making the Loan, (iib) in determining whether to grant, deny, withhold or condition any requested consent or approvalapproval Mortgage Lender, Mezzanine A First Mez Lender and Lender may reasonably reach different conclusions, and (iiic) 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 view in accordance with the standards of consent set forth hereinterms hereof. FurthermoreFurther, 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 Mezzanine A Mortgage Loan and/or the First Mez 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender, Mezzanine B Lender or Mezzanine A Lender, as applicable, such consent or approval shall not be binding or controlling on LenderLender to the extent Lender has a consent or approval right under the Loan Documents. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender in making the Mortgage Loan and the risks of Mezzanine A Lender in making the Mezzanine A Loan and the risks of Mezzanine B Lender in making the Mezzanine B 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 approvalapproval Mortgage Lender, Mezzanine A Lender, Mezzanine B 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. FurthermoreFurther, 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 B Loan or 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Senior Lender, such consent or approval shall not be binding or controlling on Mezzanine Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mezzanine A Lender Senior Lenders in making the Mezzanine A Loan Senior Loans are different from the risks of Mezzanine Lender in making the Loan, (ii) in determining whether to grant, deny, withhold or condition any requested consent or approval, Mezzanine A approval any Senior Lender and Mezzanine Lender may reasonably reach different conclusions, and (iii) Mezzanine Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of view, view (but subject to the standards of consent duty to act reasonably and in good faith, as may be expressly set forth hereinin this Agreement). FurthermoreFurther, the denial by Mezzanine Lender of a requested consent or approval shall not create any liability or other obligation of Mezzanine Lender if the denial of such consent or approval results directly or indirectly in a default under the Mezzanine A any Senior Loan, and Borrower hereby waives any claim of liability against Mezzanine 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 Lenderdenial.

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 hereby acknowledges and agrees that (ia) the risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iib) in determining whether to grant, deny, withhold or condition any requested consent or approval, approval Mezzanine A Lender and Lender may reasonably reach different conclusions, and (iiic) 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. FurthermoreFurther, 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 Lenderdenial.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mezzanine A Mortgage Lender, such consent or approval shall not be binding or controlling on Lender. Borrower hereby acknowledges and agrees that (i) the risks of Mezzanine A Mortgage Lender in making the Mezzanine A 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, Mezzanine A 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, 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 LoanMortgage Loan Documents, 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.. (c)

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender or Mezzanine A Lender, as applicable, such consent or approval shall not be binding or controlling on LenderLender to the extent Lender has a consent or approval right under the Loan Documents. Borrower hereby acknowledges and agrees that (i) the risks of Mortgage Lender in making the Mortgage Loan and 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 approvalapproval Mortgage Lender, 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. FurthermoreFurther, 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 or 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 Lenderdenial.

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 hereby 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 LoanLoan Documents, 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.. (c)