Common use of Failure to Consent Clause in Contracts

Failure to Consent. If the Borrower shall seek the approval by or consent of the Agent or the Lenders hereunder or under the Global Note, or any of the other Loan Documents and the Agent or the Lenders shall fail or refuse to give such consent or approval, the Borrower shall not be entitled to any damages for any withholding or delay of such approval or consent by the Agent or the Lenders, it being intended that the Borrower's sole remedy shall be to bring an action for an injunction or specific performance which remedy for injunction or specific performance shall be available only in those cases where the Agent has expressly agreed hereunder or under the Global Note or under any of the other Loan Documents not to unreasonably withhold or delay its consent or approval.

Appears in 1 contract

Sources: Loan Agreement (Ocwen Asset Investment Corp)

Failure to Consent. If the Borrower shall seek the approval by or consent of the Agent or the Lenders hereunder or under the Global Note, or any of the other Loan Documents and the Agent or the Lenders shall fail or refuse to give such consent or approval, the Borrower shall not be entitled to any damages for any withholding or delay of such approval or consent by the Agent or the Lenders, it being intended that the Borrower's sole remedy shall be to bring an action for an injunction or specific performance which remedy for injunction or specific performance shall be available only in those cases where the Agent has expressly agreed hereunder or under the Global Note or under any of the other Loan Documents not to unreasonably withhold or delay its consent or approval.

Appears in 1 contract

Sources: Loan Agreement (Ocwen Asset Investment Corp)