Common use of Procedure for Approval Clause in Contracts

Procedure for Approval. Lender may, in its sole and absolute discretion, from time to time, consent to an event that would otherwise constitute an Event of Default under Sections 5.01 and 5.02, including, without limitation, a Transfer of a Controlling Interest in any Borrower, which would otherwise permit Lender to accelerate the indebtedness secured hereby or to exercise its remedies permitted under the Loan Documents including Section 43 of the