Deemed Approval. If the Department has failed to respond to the Collateral Agent within 60 days of the date on which the Department has confirmed it has received the information specified in Section 5.03 in respect of any proposed Substitute, the approval of the Department will be deemed to have been given.
Appears in 5 contracts
Sources: Direct Agreement, Direct Agreement, Direct Agreement
Deemed Approval. If the Department has failed to respond to the Collateral Agent within 60 days of the date on which the Department has confirmed it has received the information specified in Section 5.03 in respect of any proposed Substitute, the approval of the Department will shall be deemed to have been given.
Appears in 1 contract
Sources: Direct Agreement