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 Mortgage Lender and/or Mezzanine A Lender, such consent or approval shall not be binding or controlling on Lender, Borrower hereby acknowledges and agrees that (i) risks of Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (ii) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, Mezzanine A Lender and Lender may reasonably reach different conclusions, and (iv) 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/or the Mezzanine A Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial. Nothing contained herein in this Section 9.9 shall be deemed to modify any provision of the Loan Documents that requires Lender to act reasonably or to another specific standard.

Independent Approval Rights. If So long as the Mortgage Loan is outstanding, if any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or Mezzanine A Lender, except as otherwise expressly set forth herein such consent or approval shall not be binding or controlling on Lender, Lender unless Mortgage Lender and Lender are the same Person or Affiliates. 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) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, Mezzanine A Lender and Lender (at such time as they are not the same Person or Affiliates) may reasonably reach different conclusions, and (iviii) except as otherwise expressly set forth herein, 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/or the Mezzanine A Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial. Nothing contained herein in this Section 9.9 shall be deemed to modify any provision of the Loan Documents that requires Lender to act reasonably or to another specific standard.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or Mezzanine A Senior Lender, such consent or approval shall not be binding or controlling on Lender, . Borrower hereby acknowledges and agrees that (ia) the risks of Mortgage Senior Lender in making the Mortgage Senior Loan are different from the risks of Lender in making the Loan, (ii) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iiib) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lenderapproval, Mezzanine A Senior Lender and Lender may reasonably reach different conclusions, and (ivc) 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. FurtherFurthermore, 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 Senior Loan and/or the Mezzanine A LoanDefault, and Borrower hereby waives any claim of liability against Lender arising from any such denialdenial unless Lender has not complied with any applicable standard for consent. Nothing contained herein in this Section 9.9 shall The rights described above may be deemed to modify exercised by any provision entity which owns and controls, directly or indirectly, substantially all of the Loan Documents that requires Lender to act reasonably or to another specific standardinterests in Lender.

Independent Approval Rights. If Unless expressly set forth in this Agreement, if any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or Mezzanine A Lender, such consent or approval shall not be binding or controlling on Lender, Administrative Agent. 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) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) in determining whether to grant, deny, withhold or condition any requested consent or approval approval, Mortgage Lender, Mezzanine A Lender and Lender Administrative Agent (for the benefit of Lender) may reasonably reach different conclusions, and (iviii) Lender 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. FurtherFurthermore, the denial by Lender Administrative Agent of a requested consent or approval shall not create any liability or other obligation of Administrative Agent or Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan and/or the Mezzanine A LoanDocuments, and Borrower hereby waives any claim of liability against Administrative Agent and Lender arising from any such denialdenial unless Borrower has any rights or remedies available to such denial failing to be in accordance with the terms of this Agreement or any other Loan Document. Nothing contained herein in this Section 9.9 shall The rights described above may be deemed to modify exercised by any provision entity which owns and controls, directly or indirectly, substantially all of the Loan Documents that requires Lender to act reasonably interests in Administrative Agent or to another specific standardLender.

Independent Approval Rights. If Unless expressly set forth in this Agreement, if any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or Mezzanine A Lender, such consent or approval shall not be binding or controlling on Lender, Administrative Agent. 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) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) in determining whether to grant, deny, withhold or condition any requested consent or approval approval, Mortgage Lender, Mezzanine A Lender and Lender Administrative Agent (for the benefit of Lender) may reasonably reach different conclusions, and (iviii) Lender 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. FurtherFurthermore, the denial by Lender Administrative Agent of a requested consent or approval shall not create any liability or other obligation of Administrative Agent or Lender if the denial of such consent or approval results directly or indirectly in a default under the Mortgage Loan and/or the Mezzanine A LoanDocuments, and Borrower hereby waives any claim of liability against Administrative Agent and Lender arising from any such denialdenial unless Borrower has any rights or remedies available to such denial failing to be in accordance with the terms of this Agreement or any other Loan Document. Nothing contained herein in this Section 9.9 shall The rights described above may be deemed to modify exercised by any provision entity which owns and controls, directly or indirectly, substantially all of the Loan Documents that requires Lender to act reasonably interests in Administrative Agent or to another specific standardLender.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or or the Other Mezzanine A Lender, such consent or approval shall not 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) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, the Other Mezzanine A Lender and Lender may reasonably reach different conclusions, and (iviii) 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/or the Mezzanine A Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial. Nothing contained herein in this Section 9.9 shall be deemed to modify any provision of the Loan Documents that requires Lender to act reasonably or to another specific standard.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or Mezzanine A or Senior Mezz Lender, such consent or approval shall not be binding or controlling on Lender, . Borrower hereby acknowledges and agrees that (ia) the risks of Mortgage Lender in making the Mortgage Loan and the risks of Senior Mezz Lender in making the Senior Mezz Loan are different from the risks of Lender in making the Loan, (ii) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iiib) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender, Mezzanine A Senior Mezz Lender and Lender may reasonably reach different conclusions, and (ivc) Lender has an absolute independent right to grant, deny, withhold or condition any requested consent or approval based on its own point of viewview 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/or the Mezzanine A Senior Mezz Loan, and Borrower hereby waives any claim of liability against Lender arising from any such denial. Nothing contained herein in this Section 9.9 shall be deemed to modify any provision of the Loan Documents that requires Lender to act reasonably or to another specific standard.

Independent Approval Rights. If any action, proposed action or other decision is consented to or approved by Mortgage Lender and/or 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 Mortgage Lender in making the Mortgage Loan are different from the risks of Lender in making the Loan, (ii) risks of Mezzanine A Lender in making the Mezzanine A Loan are different from the risks of Lender in making the Loan, (iii) in determining whether to grant, deny, withhold or condition any requested consent or approval approval, Mortgage Lender, Mezzanine A Lender and Lender may reasonably reach different conclusions, and (iviii) 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. FurtherFurthermore, 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/or the Mezzanine A LoanEvent of Default, and Borrower hereby waives any claim of liability against Lender arising from any such denial. Nothing contained herein in this Section 9.9 shall be deemed to modify denial unless Lender has not complied with any provision of the Loan Documents that requires Lender to act reasonably or to another specific standard.applicable standard for consent