Common use of Sole Discretion of Beneficiary Clause in Contracts

Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust or the other Loan Documents, Beneficiary exercises any right given to it to consent, approve or disapprove, or any arrangement or term is to be satisfactory to Beneficiary, the decision of Beneficiary to consent, approve or disapprove, or to decide that arrangements or terms are satisfactory or not satisfactory shall be in the sole discretion of Beneficiary and shall be final and conclusive, except as may be otherwise expressly and specifically provided herein. Notwithstanding anything to the contrary contained herein, it shall be understood and agreed that any such consent, approval, or disapproval may be conditioned, among other things, upon Beneficiary obtaining confirmation by the Rating Agencies that the action or other matter subject to Beneficiary's consent, approval, or disapproval shall not adversely affect the rating of any securities issued or to be issued in connection with any Secondary Market Transaction, notwithstanding that such condition may not be expressly set forth in the provision or provisions of the Loan Documents which require that Beneficiary's consent be obtained.

Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust ------------------------------ or the other Loan Documents, Beneficiary exercises any right given to it to consent, approve or disapprove, or any arrangement or term is to be satisfactory to Beneficiary, the decision of Beneficiary to consent, approve or disapprove, or to decide that arrangements or terms are satisfactory or not satisfactory shall be in the sole discretion of Beneficiary and shall be final and conclusive, except in the case of all the foregoing provisions, as may be otherwise expressly and specifically provided herein. Notwithstanding anything to the contrary contained herein, it shall be understood and agreed that any such consent, approval, or disapproval may be conditioned, among other things, upon Beneficiary obtaining confirmation by the Rating Agencies that the action or other matter subject to Beneficiary's consent, approval, or disapproval shall not adversely affect the rating of any securities issued or to be issued in connection with any Secondary Market Transaction, notwithstanding that such condition may not be expressly set forth in the provision or provisions of the Loan Documents which require that Beneficiary's consent be obtained.