Common use of Construction Consultant Clause in Contracts

Construction Consultant. (a) Borrower acknowledges that (i) the Construction Consultant has been retained by Agent to act as a consultant and only as a consultant to Agent in connection with the construction of the Project and has no duty to any Borrower Entity, (ii) the Construction Consultant shall in no event have any power or authority to give any approval or consent or to do any other act or thing which is binding upon Agent and/or Lenders, (iii) Agent reserves the right to make any and all decisions required to be made by Agent under the Building Loan Documents and to give or refrain from giving any and all consents or approvals required to be given by Agent under the Building Loan Documents and to accept or not accept any matter or thing required to be accepted by Agent under the Building Loan Documents, and without being bound or limited in any manner or under any circumstance whatsoever by any opinion expressed or not expressed, or advice given or not given, or information, certificate or report provided or not provided, by the Construction Consultant with respect thereto, and (iv) Agent reserves the right in its sole and absolute discretion to disregard or disagree, in whole or in part, with any opinion expressed, advice given or information, certificate or report furnished or provided by the Construction Consultant to Agent or any other Person.

Appears in 1 contract

Samples: Building Loan Agreement (New York Times Co)

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Construction Consultant. (a) Borrower acknowledges that (i) the Construction Consultant has been retained by Agent Lender to act as a consultant and only as a consultant to Agent Lender in connection with the construction of the Project Improvements and has no duty to any Borrower EntityBorrower, (ii) the Construction Consultant shall in no event have any power or authority to give any approval or consent or to do any other act or thing which is binding upon Agent and/or LendersLender, (iii) Agent Lender reserves the right to make any and all decisions required to be made by Agent Lender under the Building Loan Documents this Agreement and to give or refrain from giving any and all consents or approvals required to be given by Agent Lender under the Building Loan Documents this Agreement and to accept or not accept any matter or thing required to be accepted by Agent Lender under the Building Loan Documentsthis Agreement, and without being bound or limited in any manner or under any circumstance whatsoever by any opinion expressed or not expressed, or advice given or not given, or information, certificate or report provided or not provided, by the 87 Construction Consultant with respect thereto, and (iv) Agent Lender reserves the right in its sole and absolute discretion to disregard or disagree, in whole or in part, with any opinion expressed, advice given or information, certificate or report furnished or provided by the Construction Consultant to Agent Lender or any other Personperson or party, and (v) Lender reserves the right to replace the Construction Consultant with another construction consultant at any time and without prior notice to or approval by Borrower.

Appears in 1 contract

Samples: Building Loan Agreement (Acadia Realty Trust)

Construction Consultant. (a) Borrower acknowledges that (i) the Construction Consultant has been retained by Agent to act as a consultant and only as a consultant to Agent in connection with the construction of the Project and has no duty to any Borrower Entity, (ii) the Construction Consultant shall in no event have any power or authority to give any approval or consent or to do any other act or thing which is binding upon Agent and/or Lenders, (iii) Agent reserves the right to make any and all decisions required to be made by Agent under the Building Project Loan Documents and to give or refrain from giving any and all consents or approvals required to be given by Agent under the Building Project Loan Documents and to accept or not accept any matter or thing required to be accepted by Agent under the Building Project Loan Documents, and without being bound or limited in any manner or under any circumstance whatsoever by any opinion expressed or not expressed, or advice given or not given, or information, certificate or report provided or not provided, by the Construction Consultant with respect thereto, and (iv) Agent reserves the right in its sole and absolute discretion to disregard or disagree, in whole or in part, with any opinion expressed, advice given or information, certificate or report furnished or provided by the Construction Consultant to Agent or any other Person.

Appears in 1 contract

Samples: Project Loan Agreement (New York Times Co)

Construction Consultant. (a) Borrower acknowledges that (i) the Construction Consultant has been retained by Agent Lender to act as a consultant to review Plans and Specifications, Construction Contracts and Draw Requests, perform inspections and other services as determined by Lender but only as a consultant to Agent Lender in connection with the construction of the Project and Construction Consultant has no duty to any Borrower Entity, or Mortgage Borrower; (ii) the Construction Consultant shall in no event or under any circumstance have any power or authority to make any decision or to give any approval or consent or to do any other act or thing which is binding upon Agent and/or LendersLender and any such purported decision, approval, consent, act or thing by Construction Consultant on behalf of Lender shall be void and of no force or effect; (iii) Agent Lender reserves the right to make any and all decisions required to be made by Agent Lender under the Building Loan Documents this Agreement and to give or refrain from giving any and all consents or approvals required to be given by Agent under the Building Loan Documents Lender, and to accept or not accept any matter or thing required to be accepted by Agent Lender, under and in accordance with the Building Loan Documentsterms of this Agreement, and without being bound or limited in any manner or under any circumstance circumstances whatsoever by any opinion expressed or not expressed, or advice given or not given, or information, certificate or report provided or not provided, by the Construction Consultant with respect thereto, and (iv) Agent reserves the right in its sole and absolute discretion to disregard or disagree, in whole or in part, with any opinion expressed, advice given or information, certificate or report furnished or provided by the Construction Consultant to Agent or any other Person.

Appears in 1 contract

Samples: V4 Mezzanine Loan Agreement (Instil Bio, Inc.)

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Construction Consultant. (a) Borrower acknowledges that (ia) the Construction Consultant has been retained by Agent Lxxxxx to act as a consultant and only as a consultant to Agent Lender in connection with the construction of the Project Improvements and has no duty to any Borrower EntityBorrower, (iib) the Construction Consultant shall in no event have any power or authority to give any approval or consent or to do any other act or thing which is binding upon Agent and/or LendersLender, (iiic) Agent Lender reserves the right to make any and all decisions required to be made by Agent Lender under the Building Loan Documents this Agreement and to give or refrain from giving any and all consents or approvals required to be given by Agent Lender under the Building Loan Documents this Agreement and to accept or not accept any matter or thing required to be accepted by Agent Lender under the Building Loan Documentsthis Agreement, and without being bound or limited in any manner or under any circumstance whatsoever by any opinion expressed or not expressed, or advice given or not given, or information, certificate or report provided or not provided, by the Construction Consultant with respect thereto, and (ivd) Agent Lender reserves the right in its sole and absolute discretion to disregard or disagree, in whole or in part, with any opinion expressed, advice given or information, certificate or report furnished or provided by the Construction Consultant to Agent Lender or any other Personperson or 100- party, and (e) Lxxxxx reserves the right to replace the Construction Consultant with another construction consultant at any time and without prior notice to or approval by Borrower.

Appears in 1 contract

Samples: Building Loan Agreement (ACRES Commercial Realty Corp.)

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