Common use of Denied Disbursements Clause in Contracts

Denied Disbursements. (a) LLANY agrees to notify Seller if it proposes to deny any disbursement request. Such notice shall be made promptly, but in any event, at such time as to permit Seller to object to such denial and to allow such disbursement to be made in a timely manner. The notice required under this Section 3.05 will contain the basis for LLANY's decision to deny such disbursement request and the date that such disbursement would be required to be made. LLANY may not deny a disbursement request if Seller reasonably objects to such denial in writing within 10 Business Days of Seller's receipt of the notice required under this Section 3.05 (or within such shorter period as may be required to permit the relevant disbursement to be made within the time period required by any applicable law or regulation). In the event that LLANY notifies Seller of a proposed denial on the Business Day that the disbursement would be required to be made and Seller objects to such proposed denial, then the disbursement shall be made as soon as practicable thereafter, and Seller acknowledges that such disbursement may be made later than the date otherwise required by this Agreement.

Denied Disbursements. (a) LLANY Purchaser agrees to promptly notify Seller if it proposes to deny any disbursement request. Such notice shall be made promptly, but in any event, at such time as to permit Seller to object to such denial and to allow such disbursement to be made in a timely manner. The notice required under this Section 3.05 will contain the basis for LLANYPurchaser's decision to deny such disbursement request and the date that such disbursement would be required to be made. LLANY Purchaser may not deny a disbursement request if Seller reasonably objects to such denial in writing within 10 Business Days of Seller's receipt of the notice required under this Section 3.05 (or within such shorter period as may be required to permit the relevant disbursement to be made within the time period required by any applicable law or regulation). In the event that LLANY Purchaser notifies Seller of a proposed denial on the Business Day that the disbursement would be required to be made and Seller objects to such proposed denial, then the disbursement shall be made as soon as practicable thereafter, and Seller acknowledges that such disbursement may be made later than the date otherwise required by this Agreement.

Denied Disbursements. (a) LLANY Purchaser agrees to promptly notify Seller if it proposes to deny any disbursement request. Such notice shall be made promptly, but in any event, at such time as to permit Seller to object to such denial and to allow such disbursement to be made in a timely manner. The notice required under this Section 3.05 will contain the basis for LLANYPurchaser's decision to deny such disbursement request and the date that such disbursement would be required to be maderequest. LLANY Purchaser may not deny a disbursement request if Seller reasonably objects to such denial in writing within 10 Business Days of Seller's receipt of the notice required under this Section 3.05 (or within such shorter period as may be required to permit the relevant disbursement to be made within the time period required by any applicable law or regulation). In the event that LLANY Purchaser notifies Seller of a proposed denial on the Business Day that the disbursement would be required to be made and Seller objects to such proposed denial, then the disbursement shall be made as soon as practicable thereafter, and Seller acknowledges that such disbursement may be made later than the date otherwise required by this Agreement.

Denied Disbursements. (a) LLANY Purchaser agrees to promptly notify Seller CLIC if it proposes to deny any disbursement request. Such notice shall be made promptly, but in any event, at such time as to permit Seller to object to such denial and to allow such disbursement to be made in a timely manner. The notice required under this Section 3.05 will contain the basis for LLANYPurchaser's decision to deny such disbursement request and the date that such disbursement would be required to be made. LLANY Purchaser may not deny a disbursement request if Seller CLIC reasonably objects to such denial in writing within 10 Business Days of SellerCLIC's receipt of the notice required under this Section 3.05 (or within such shorter period as may be required to permit the relevant disbursement to be made within the time period required by any applicable law or regulation). In the event that LLANY Purchaser notifies Seller CLIC of a proposed denial on the Business Day that the disbursement would be required to be made and Seller CLIC objects to such proposed denial, then the disbursement shall be made as soon as practicable thereafter, and Seller CLIC acknowledges that such disbursement may be made later than the date otherwise required by this Agreement.

Denied Disbursements. (a) LLANY Purchaser agrees to -------------------- promptly notify Seller if it proposes to deny any disbursement request. Such notice shall be made promptly, but in any event, at such time as to permit Seller to object to such denial and to allow such disbursement to be made in a timely manner. The notice required under this Section 3.05 3.04 will contain the basis for LLANYPurchaser's decision to deny such disbursement request and the date that such disbursement would be required to be maderequest. LLANY Purchaser may not deny a disbursement request if Seller reasonably objects to such denial in writing within 10 Business Days of Seller's receipt of the notice required under this Section 3.05 3.04 (or within such shorter period as may be required to permit the relevant disbursement to be made within the time period required by any applicable law or regulation). In the event that LLANY Purchaser notifies Seller of a proposed denial on the Business Day that the disbursement would be required to be made and Seller objects to such proposed denial, then the disbursement shall be made as soon as practicable thereafter, and Seller acknowledges that such disbursement may be made later than the date otherwise required by this Agreement.