Common use of Sole Discretion of Beneficiary Clause in Contracts

Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust (A) Beneficiary exercises any right to approve or disapprove or to give or withhold its consent, (B) any arrangement or term is to be satisfactory to Beneficiary, or (C) any other decision or determination is to be made by Beneficiary, Beneficiary may give or withhold such approval or consent, determine whether or not such arrangement or term is satisfactory, and make all other decisions or determinations, in Beneficiary's sole and absolute discretion, and Beneficiary's decision shall be final and conclusive except where this Deed of Trust expressly provides to the contrary. If Trustor shall seek the consent or approval of Beneficiary pursuant to this Deed of Trust and Beneficiary shall fail or refuse to give such consent or approval, Trustor shall not be entitled to any damages for any withholding of such approval or consent by Beneficiary, except, in instances where Beneficiary has expressly agreed not to unreasonably withhold such approval or consent, to the extent that any withholding of such approval or consent by Beneficiary constitutes willful and malicious misconduct. Trustor's sole remedy shall be an action for injunctive or declaratory relief, which remedy shall be available only in those cases where Beneficiary has expressly agreed not to unreasonably withhold its consent or approval.

Appears in 1 contract

Samples: Security Agreement (Maguire Properties Inc)

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Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust or in any other Loan Instrument (A) Beneficiary exercises any right to approve or disapprove or to give or withhold its consent, (B) any arrangement or term is to be satisfactory to Beneficiary, or (C) any other decision or determination is to be made by Beneficiary, Beneficiary may give or withhold such approval or consent, determine whether or not such arrangement or term is satisfactory, and make all other decisions or determinations, in Beneficiary's ’s sole and absolute discretion, and Beneficiary's decision shall be final and conclusive except where this Deed of Trust or such other Loan Instrument expressly provides to the contrary. If Trustor Grantor shall seek the consent or approval of Beneficiary pursuant to this Deed of Trust and Beneficiary shall fail or refuse to give such consent or approval, Trustor Grantor shall not be entitled to any damages for any withholding of such approval or consent by Beneficiary, except, in instances where Beneficiary has expressly agreed not to unreasonably withhold such approval or consent, to the extent that any withholding of such approval or consent by Beneficiary constitutes willful and malicious misconduct. TrustorGrantor's sole remedy shall be an action for injunctive or declaratory relief, which remedy shall be available only in those cases where Beneficiary has expressly agreed not to unreasonably withhold its consent or approval.

Appears in 1 contract

Samples: And Security Agreement (Trade Street Residential, Inc.)

Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust or in any other Loan Instrument (A) Beneficiary exercises any right to approve or disapprove or to give or withhold its consent, (B) any arrangement or term is to be satisfactory to Beneficiary, or (C) any other decision or determination is to be made by Beneficiary, Beneficiary may give or withhold such approval or consent, determine whether or not such arrangement or term is satisfactory, and make all other decisions or determinations, in Beneficiary's ’s sole and absolute discretion, and Beneficiary's decision shall be final and conclusive except where this Deed of Trust or such other Loan Instrument expressly provides to the contrary. If Trustor Grantor shall seek the consent or approval of Beneficiary pursuant to this Deed of Trust and Beneficiary shall fail or refuse to give such consent or approval, Trustor Grantor shall not be entitled to any damages for any withholding of such approval or consent by Beneficiary, except, in instances where Beneficiary has expressly agreed not to unreasonably withhold such approval or consent, to the extent that any withholding of such approval or consent by Beneficiary constitutes willful and malicious misconduct. TrustorGxxxxxx's sole remedy shall be an action for injunctive or declaratory relief, which remedy shall be available only in those cases where Beneficiary has expressly agreed not to unreasonably withhold its consent or approval.

Appears in 1 contract

Samples: And Security Agreement (Trade Street Residential, Inc.)

Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust Security Instrument or in any other Loan Instrument (A) Beneficiary exercises any right to approve or disapprove or to give or withhold its consent, (B) any arrangement or term is to be satisfactory to Beneficiary, or (C) any other decision or determination is to be made by Beneficiary, Beneficiary may give or withhold such approval or consent, determine whether or not such arrangement or term is satisfactory, and make all other decisions or determinations, in Beneficiary's sole and absolute discretion, and Beneficiary's decision shall be final and conclusive except where this Deed of Trust Security Instrument expressly provides to the contrary. If Trustor Grantor shall seek the consent or approval of Beneficiary pursuant to this Deed of Trust Security Instrument and Beneficiary shall fail or refuse to give such consent or approval, Trustor Grantor shall not be entitled to any damages for any withholding of such approval or consent by Beneficiary, except, in instances where Beneficiary has expressly agreed not to unreasonably withhold such approval or consent, to the extent that any withholding of such approval or consent by Beneficiary constitutes willful and malicious misconduct. TrustorXxxxxxx's sole remedy shall be an action for injunctive or declaratory relief, which remedy shall be available only in those cases where Beneficiary has expressly agreed not to unreasonably withhold its consent or approval.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Kilroy Realty, L.P.)

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Sole Discretion of Beneficiary. Whenever pursuant to this Deed of Trust or in any other Loan Instrument (A) Beneficiary exercises any right to approve or disapprove or to give or withhold its consent, (B) any arrangement or term is to be satisfactory to Beneficiary, or (C) any other decision or determination is to be made by Beneficiary, Beneficiary may give or withhold such approval or consent, determine whether or not such arrangement or term is satisfactory, and make all other decisions or determinations, in Beneficiary's ’s sole and absolute discretion, and Beneficiary's ’s decision shall be final and conclusive except where this Deed of Trust or such other Loan Instrument expressly provides to the contrary. If Trustor Grantor shall seek the consent or approval of Beneficiary pursuant to this Deed of Trust and Beneficiary shall fail or refuse to give such consent or approval, Trustor Grantor shall not be entitled to any damages for any withholding of such approval or consent by Beneficiary, except, in instances where Beneficiary has expressly agreed not to unreasonably withhold such approval or consent, to the extent that any withholding of such approval or consent by Beneficiary constitutes willful and malicious misconduct. Trustor's Grantor’s sole remedy shall be an action for injunctive or declaratory relief, which remedy shall be available only in those cases where Beneficiary has expressly agreed not to unreasonably withhold its consent or approval.

Appears in 1 contract

Samples: And Security Agreement and Fixture Filing (Trade Street Residential, Inc.)

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