Common use of Syndication of the Loan Clause in Contracts

Syndication of the Loan. Lender shall have the absolute and unconditional right at any time after the date of this Agreement and at any time during the term of the Loan without requiring any consent or approval from Borrower or any Guarantor or indemnitor or any other person, party or entity associated with or connected with the Loan or the collateral therefor (i) to sell and assign the Loan in whole or in part, or (ii) to place one or more participation interests therein in one or more separate transactions, or (iii) to effect a syndication or securitization of the Loan or of any interest therein in one or more transactions and in a single asset securitization or a pooled loan securitization, in each case to or with such persons, parties, entities or investors (including, without limitation, domestic or foreign banks, insurance companies, pension funds, trusts, other institutional lenders or investors, natural persons, grantor trusts, owner trusts, special purpose corporations, REMICs, FASITS, real estate investment trusts or other similar or comparable investment vehicles) and on such terms and conditions as Lender shall deem to be appropriate in the exercise of its sole and absolute discretion. (The transaction referred to in clauses (i), (ii) and (iii) shall hereinafter be referred to collectively as "SECONDARY MARKET TRANSACTIONS" and the transactions referred to in clause (iii) shall hereinafter be referred to as a "SECURITIZATION." Any certificate, notes or other securities issued in connection with a Securitization are hereinafter referred to as "SECURITIES"). In connection with any such Secondary Market Transaction, Lender shall have the absolute and unconditional right without obtaining the prior approval of Borrower, any Guarantor or indemnitor or any other person, party or entity associated or connected with the Loan or the collateral therefor to disclose, deliver and to share, on a confidential basis, with any prospective purchaser of the Loan or of any participation or other interest therein (including any such interest to be acquired in connection with a syndication or securitization of the Loan) such information (financial or otherwise), documents and instruments pertaining to the Loan, the Properties, Borrower or any Guarantor or indemnitor or any other person, party or entity associated or connected with the Loan or the collateral therefor as Lender shall deem to be appropriate in the exercise of its sole and absolute discretion. Except as provided otherwise in SECTION 12.1.1 or as may otherwise be agreed upon by the Borrower in writing, Borrower shall not be responsible for the payment of any costs and expenses in connection with any Secondary Market Transaction.

Syndication of the Loan. Lender shall have the absolute and unconditional right at any time after the date of this Agreement and at any time during the term of the Loan without requiring any consent or approval from Borrower or any Guarantor or indemnitor or any other person, party or entity associated with or connected with the Loan or the collateral therefor (i) to sell and assign the Loan in whole or in part, or (ii) to place one or more participation interests therein in one or more separate transactions, or (iii) to effect a syndication or securitization of the Loan or of any interest therein in one or more transactions and in a single asset securitization or a pooled loan securitization, in each case to or with such persons, parties, entities or investors (including, without limitation, domestic or foreign banks, insurance companies, pension funds, trusts, other institutional lenders or investors, natural persons, grantor trusts, owner trusts, special purpose corporations, REMICs, FASITS, real estate investment trusts or other similar or comparable investment vehicles) and on such terms and conditions as Lender shall deem to be appropriate in the exercise of its sole and absolute discretion. (The transaction referred to in clauses (i), (ii) and (iii) shall hereinafter be referred to collectively as "SECONDARY MARKET TRANSACTIONS" and the transactions referred to in clause (iii) shall hereinafter be referred to as a "SECURITIZATION." Any certificate, notes or other securities issued in connection with a Securitization are hereinafter referred to as "SECURITIESSecurities"). In connection with any such Secondary Market Transaction, Lender shall have the absolute and unconditional right without obtaining the prior approval of Borrower, any Guarantor or indemnitor or any other person, party or entity associated or connected with the Loan or the collateral therefor to disclose, deliver and to share, on a confidential basis, with any prospective purchaser of the Loan or of any participation or other interest therein (including any such interest to be acquired in connection with a syndication or securitization of the Loan) such information (financial or otherwise), documents and instruments pertaining to the Loan, the Properties, Borrower or any Guarantor or indemnitor or any other person, party or entity associated or connected with the Loan or the collateral therefor as Lender shall deem to be appropriate in the exercise of its sole and absolute discretion. Except as provided otherwise in SECTION 12.1.1 or as may otherwise be agreed upon by the Borrower in writing, Borrower shall not be responsible for the payment of any costs and expenses in connection with any Secondary Market Transaction.