Common use of Approval Standard Clause in Contracts

Approval Standard. All approvals by Buyer under this Section 9.3 shall not be unreasonably withheld, conditioned or delayed. Without limitation on the foregoing, if Seller delivers a written request to Buyer for Buyer’s approval of any matter for which Buyer’s approval is required under this Section 9.3 (an “Approval Request”), and Buyer fails to deliver to Seller its written disapproval of such Approval Request within five (5) business days after its receipt of such Approval Request, then Buyer shall be deemed to have approved the matter that is the subject of such Approval Request.

Appears in 3 contracts

Samples: Sale and Purchase Agreement (Lodging Fund REIT III, Inc.), Assignment and Assumption Agreement (Ashford Hospitality Prime, Inc.), Sale and Purchase Agreement (Chesapeake Lodging Trust)

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Approval Standard. All approvals by Buyer under this Section 9.3 Paragraph 8F shall not be unreasonably withheld, conditioned or delayed. Without limitation on the foregoing, if Seller delivers a written request to Buyer for Buyer’s 's approval of any matter for which Buyer’s 's approval is required under this Section 9.3 Paragraph 8F (an "Approval Request"), and Buyer fails to deliver to Seller its written disapproval of such Approval Request within five (5) business days after its receipt of such Approval Request, then Buyer shall be deemed to have approved the matter that is the subject of such Approval Request.

Appears in 1 contract

Samples: Purchase Agreement (Maxus Realty Trust Inc)

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