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, Mezzanine A Lender, Mezzanine B Lender, Mezzanine C Lender or Mezzanine D 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 D Lender in making the Mezzanine D 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 D 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 D 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, Mezzanine A Lender, Mezzanine B Lender, Mezzanine C Lender or Mezzanine D A 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, (viv) the risks of Mezzanine D Lender in making the Mezzanine D 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 D 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 C Loan, the Mezzanine C D Loan or the Mezzanine D 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, Mezzanine A Lender, Mezzanine B Lender, Mezzanine C Lender or Mezzanine D 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 D E Lender in making the Mezzanine D 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 D 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 D 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, Mezzanine A Lender, Mezzanine B Lender, Mezzanine C Lender or Mezzanine D 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. Pledgor 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) and 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) and 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 D Lender in making the Mezzanine D Loan are different from the risks of Lender in making the Loan, (viii) 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 D Lender and Lender may reasonably reach different conclusions, and (viiiii) 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 D Loan, and Pledgor hereby waives any claim of liability against Lender arising from any such denial.consent

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, Mezzanine C Lender or Mezzanine D B 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 D Lender in making the Mezzanine C D Loan are different from the risks of Lender in making the Loan, (v) the risks of Mezzanine D E Lender in making the Mezzanine D 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 D Lender, Mezzanine D 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 D Loan or the Mezzanine D 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, Mezzanine A Lender, Mezzanine B Lender, Mezzanine C Lender or Mezzanine D 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, (iviii) the risks of Mezzanine C Lender in making the Mezzanine C Loan are different from the risks of Lender in making the Loan, (viv) the risks of Mezzanine D Lender in making the Mezzanine D 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 D 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, the Mezzanine D Loan or the Mezzanine D E Loan, and Pledgor hereby waives any claim of liability against Lender arising from any such denial.