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, 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) [intentionally omitted], (iii) [intentionally omitted], (iv) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender and Lender may reasonably reach 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 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 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) [intentionally omitted]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 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, 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) [intentionally omitted], (iii) [intentionally omitted], (iv) in determining whether to grant, deny, withhold or condition any requested consent or approval Mortgage Lender and Lender may reasonably reach different conclusions, and (v) Lender has an 157 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 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 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) [intentionally omitted]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.