Common use of Rights of BNPPLC Generally Clause in Contracts

Rights of BNPPLC Generally. Subject to the limitations set forth in subparagraph 6(A): (1) BNPPLC will have the exclusive right to take any action and to exercise any available powers, rights and remedies to enforce the obligations of LRC under the Operative Documents or to refrain from taking any such action or exercising any such power, right or remedy. (2) BNPPLC may (i) give any consent, waiver or approval requested by LRC with respect to any approval contemplated in the Lease or other Operative Documents or (ii) waive or consent to any adverse title claims affecting the Property, subject the condition that, in either case, BNPPLC believes in good faith that such action will not have a material adverse effect upon the obligations or ability of LRC to make the payments required under the Operative Documents or upon the rights and remedies, taken as whole, of BNPPLC under the Operative Documents or upon the Participants hereunder.

Rights of BNPPLC Generally. Subject to the limitations set forth in subparagraph 6(A): (1) BNPPLC will have the exclusive right to take any action and to exercise any available powers, rights and remedies to enforce the obligations of LRC under the Operative Documents or to refrain from taking any such action or exercising any such power, right or remedy. (2) BNPPLC may (i) give any consent, waiver or approval requested by LRC with respect to any construction or other approval contemplated in the Construction Agreement, Lease or other Operative Documents or (ii) waive or consent to any adverse title claims affecting the Property, subject the condition that, in either case, BNPPLC believes in good faith that such action will not have a material adverse effect upon the obligations or ability of LRC to make the payments required under the Operative Documents or upon the rights and remedies, taken as whole, of BNPPLC under the Operative Documents or upon the Participants hereunder.

Rights of BNPPLC Generally. Subject to the limitations set forth in subparagraph 6(A): (1i) BNPPLC will have the exclusive right to take any action and to exercise any available powers, rights and remedies to enforce the obligations of LRC NAI under the Operative Documents or to refrain from taking any such action or exercising any such power, right or remedy. (2ii) BNPPLC may (i) give any consent, waiver or approval requested by LRC NAI with respect to any construction or other approval contemplated in the Construction Management Agreement, Lease or other Operative Documents or (ii) waive or consent to any adverse title claims affecting the Property, subject the condition that, in either case, BNPPLC believes in good faith that such action will not have a material adverse effect upon the obligations or ability of LRC NAI to make the payments required under the Operative Documents or upon the rights and remedies, taken as whole, of BNPPLC under the Operative Documents or upon the Participants Participants’ hereunder.

Rights of BNPPLC Generally. Subject to the limitations set forth in subparagraph 6(A): (1) BNPPLC will have the exclusive right to take any action and to exercise any available powers, rights and remedies to enforce the obligations of LRC NAI under the Operative Documents or to refrain from taking any such action or exercising any such power, right or remedy. (2) BNPPLC may (i) give any consent, waiver or approval requested by LRC NAI with respect to any construction or other approval contemplated in the Construction Agreement, Lease or other Operative Documents or (ii) waive or consent to any adverse title claims affecting the Property, subject the condition that, in either case, BNPPLC believes in good faith that such action will not have a material adverse effect upon the obligations or ability of LRC NAI to make the payments required under the Operative Documents or upon the rights and remedies, taken as whole, of BNPPLC under the Operative Documents or upon the Participants hereunder.