Common use of Mezzanine Lender Attorney in Fact Clause in Contracts

Mezzanine Lender Attorney in Fact. In the event of any arbitration under or pursuant to any Operating Agreement in which Mezzanine Lender elects to participate, Mezzanine Borrower (acting on behalf of Mortgage Borrower) hereby irrevocably appoints Mezzanine Lender as its true and lawful attorney-in-fact (which appointment shall be deemed coupled with an interest) to exercise, during the continuance of an Event of Default, all right, title and interest of Mezzanine Borrower in connection with such arbitration, including, without limitation, the right to appoint arbitrators and to conduct arbitration proceedings on behalf of Mezzanine Borrower and Mezzanine Lender. All reasonable out-of-pocket costs and expenses incurred by Mezzanine Lender in connection with such arbitration and the settlement thereof shall be borne solely by Mezzanine Borrower, including, without limitation, reasonable attorneys’ fees and disbursements. Nothing contained in this Section shall obligate Mezzanine Lender to participate in any such arbitration.