Common use of Acquiescence Not to Constitute Waiver of Lender’s Requirements Clause in Contracts

Acquiescence Not to Constitute Waiver of Lender’s Requirements. Each and every covenant and condition for the benefit of the Lenders contained in this Agreement may be waived by the Lenders, provided, however, that to the extent that the Lenders may have acquiesced in any noncompliance with any construction or nonconstruction conditions precedent to the Opening of the Loan or to any subsequent disbursement of Loan proceeds, such acquiescence shall not be deemed to constitute a waiver by the Lenders of such requirements with respect to any future disbursements of Loan proceeds.

Appears in 4 contracts

Samples: Secured Loan Agreement (Sentio Healthcare Properties Inc), Secured Loan Agreement (Sentio Healthcare Properties Inc), Secured Loan Agreement (CNL Healthcare Properties, Inc.)

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Acquiescence Not to Constitute Waiver of Lender’s Requirements. Each and every covenant and condition for the benefit of the Lenders contained in this Agreement may be waived by the Lenderspursuant to Section 23.2, provided, however, that to the extent that the Lenders may have acquiesced in any noncompliance with any construction or nonconstruction conditions precedent to the Opening of the Initial Restructuring Loan or to any subsequent disbursement of Facility A Loan proceeds, such acquiescence shall not be deemed to constitute a waiver by the Lenders of such requirements with respect to any future disbursements of Facility A Loan proceeds.

Appears in 1 contract

Samples: Construction Loan Agreement (Maui Land & Pineapple Co Inc)

Acquiescence Not to Constitute Waiver of Lender’s Requirements. Each and every covenant and condition for the benefit of the Lenders contained in this Agreement may be waived by the Lenders, provided, however, that to the extent that the Lenders may have acquiesced in any noncompliance with any construction or nonconstruction conditions precedent to the Opening of the Loan or to any subsequent disbursement of Loan proceedsLoan, such acquiescence shall not be deemed to constitute a waiver by the Lenders of such requirements with respect to any future disbursements of Loan proceeds.

Appears in 1 contract

Samples: Loan Agreement (Taubman Centers Inc)

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Acquiescence Not to Constitute Waiver of Lender’s Requirements. Each and every covenant and condition for the benefit of the Lenders contained in this Agreement may be waived by the LendersLenders (and as provided herein, by the Administrative Agent), provided, however, that to the extent that the Lenders a Lender may have acquiesced in any noncompliance with any construction or nonconstruction conditions precedent to the Loan Opening of the Loan or to any subsequent disbursement of Loan proceeds, such acquiescence shall not be deemed to constitute a waiver by the Lenders such Lender of such requirements with respect to any future disbursements of Loan proceedsproceeds of the Loan.

Appears in 1 contract

Samples: Construction Loan Agreement (Newmarket Corp)

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