Common use of Grounds for Refusing Approval Clause in Contracts

Grounds for Refusing Approval. The Department will only be entitled to withhold its approval to any proposed Substitute that is the subject of a Substitution Notice if: (a) in the Department’s reasonable opinion, the proposed Substitute is not a Qualified Substitute Developer; or (b) subject to Section 6.04, there are outstanding breaches of the Comprehensive Agreement that have been previously notified by the Department to the Collateral Agent and have not, to the reasonable satisfaction of the Department, been remedied or waived prior to the date of the Substitution Notice; unless the Department has approved (such approval not to be unreasonably withheld, conditioned or delayed) a plan specifying (i) the remedial action that the Substitute will be required to take after the Substitution Effective Date in order to remedy each such breach and (ii) with respect to any such breaches that by their nature are incapable of being cured, the action that the Substitute will be required to take after the Substitution Effective Date in order to prevent such breach from occurring in the future.

Grounds for Refusing Approval. The Department will only be entitled to withhold its approval to any proposed Substitute that is the subject of a Substitution Notice if: (a) in In the Department’s reasonable opinion, the proposed Substitute is not a Qualified Substitute DeveloperConcessionaire; or (b) subject to Section 6.04, there are outstanding breaches of the Comprehensive Agreement that have been previously notified by the Department to the Collateral Agent and have not, to the reasonable satisfaction of the Department, been remedied or waived prior to the date of the Substitution Notice; unless the Department has approved (such approval not to be unreasonably withheld, conditioned withheld or delayed) a plan specifying (i) the remedial action that the Substitute will be required to take after the Substitution Effective Date in order to remedy each such breach and (ii) with respect to any such breaches that by their nature are incapable of being cured, the action that the Substitute will be required to take after the Substitution Effective Date in order to prevent such breach from occurring in the futurebreach.