Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE DEEMED APPROVAL OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation (together with a written explanation of the reasons behind such objection) prior to the expiration of the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 4 contracts
Samples: Loan and Security Agreement (Varian Medical Systems Inc), Loan and Security Agreement (Varian Medical Systems Inc), Loan and Security Agreement (Varian Medical Systems Inc)
Lender Reply Period. All communications from the Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action. Nothing in this Section 9.10 shall restrict the Administrative Agent from requesting a reply to a request for an approval in less than ten Business Days but the deemed approval provided in this Section 9.10 shall not apply until the expiration of a ten Business Day period.
Appears in 3 contracts
Samples: Credit and Term Loan Agreement (Black Creek Diversified Property Fund Inc.), Credit and Term Loan Agreement (Dividend Capital Diversified Property Fund Inc.), Credit Agreement (Dividend Capital Diversified Property Fund Inc.)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within ten (10 Business Days business days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 3 contracts
Samples: Borrowing Base Revolving Line of Credit Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.), Borrowing Base Revolving Line of Credit Agreement (Cole Credit Property Trust Iv, Inc.), Borrowing Base Revolving Line of Credit Agreement (Cole Credit Property Trust III, Inc.)
Lender Reply Period. All communications from the Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action. Nothing in this Section 9.10 shall restrict the Administrative Agent from requesting a reply to a request for an approval in less than ten Business Days but the deemed approval provided in this Section 9.6 shall not apply until the expiration of a ten Business Day period.
Appears in 2 contracts
Samples: Term Loan Agreement (Industrial Income Trust Inc.), Term Loan Agreement (Industrial Income Trust Inc.)
Lender Reply Period. All communications from Administrative Agent to the Lenders requesting the Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN FIFTEEN (1015) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 fifteen (15) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 2 contracts
Samples: Credit and Term Loan Agreement (DCT Industrial Trust Inc.), Credit and Term Loan Agreement (DCT Industrial Trust Inc.)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action. Notwithstanding the foregoing, the provision contained herein for deemed approval shall not apply to a request for approval of any of the matters listed in Section 10.01(a)-(f).
Appears in 2 contracts
Samples: Credit Agreement (Potlatchdeltic Corp), Credit Agreement (Potlatch Corp)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN FIFTEEN (1015) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 fifteen (15) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Lender Reply Period. All communications from Administrative Agent to Lenders Xxxxxxx requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action. Notwithstanding the foregoing, the provision contained herein for deemed approval shall not apply to a request for approval of any of the matters listed in Section 10.01(a)-(f).
Appears in 1 contract
Lender Reply Period. All communications from Administrative Agent to Lenders Xxxxxxx requesting Lenders’ determination, consent or approval approval, in each case to the extent required under the terms of this Agreement, (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN FIVE (105) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 Business Days five (5) days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.127
Appears in 1 contract
Samples: Loan Agreement (Alexanders Inc)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN FIVE (105) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 Business Days five (5) days (or such longer period if specifically provided herein) after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Samples: Borrowing Base Revolving Line of Credit Agreement (Industrial Income Trust Inc.)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Samples: Credit Agreement (Dividend Capital Total Realty Trust Inc.)
Lender Reply Period. All Except as otherwise provided in this Agreement, all communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Samples: Revolving Loan and Security Agreement (Cottonwood Communities, Inc.)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ ' determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “"THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” " and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “"Lender Reply Period”"). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be and each non-responding Lender shall be deemed to have concurred with such recommended course of action.Agent
Appears in 1 contract
Samples: Term Loan and Security Agreement (KBS Growth & Income REIT, Inc.)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent - 121 - or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action. Notwithstanding the foregoing, the provision contained herein for deemed approval shall not apply to a request for approval of any of the matters listed in Section 10.01(a)-(f).
Appears in 1 contract
Samples: Credit Agreement (Potlatch Corp)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval approval, in each case to the extent required under the terms of this Agreement, (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN FIVE (105) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 Business Days five (5) days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Samples: Loan Agreement (Alexanders Inc)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ ' determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “"THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” " and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within ten (10 Business Days business days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “"Lender Reply Period”"). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Samples: Borrowing Base Revolving Line of Credit Agreement (Cole Credit Property Trust Iv, Inc.)
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN FIVE (105) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 Business Days five (5) days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action.
Appears in 1 contract
Lender Reply Period. All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent or approval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter as to which such determination, consent or approval is requested, (iii) shall include a legend substantially as follows, printed in capital letters or boldface type: “THIS COMMUNICATION REQUIRES IMMEDIATE RESPONSE. ADD TO SECOND NOTICE: FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS AFTER THE DELIVERY OF THIS COMMUNICATION SHALL BE CONSTITUTE A DEEMED APPROVAL BY THE ADDRESSEE OF THE MATTER DESCRIBED ABOVE BY THE ADDRESSEEABOVE.” and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof, each Lender shall (each, an “Administrative Agent Consent Request Notice”). If a Lender shall fail to timely respond in writing to Administrative Agent, Administrative Agent shall send a second Administrative Agent Consent Request Notice to Lender. Each Lender shall endeavor to reply promptly to any such request, but in any event within 10 ten (10) Business Days after the delivery of such request by the second Administrative Agent Consent Request Notice (the “Lender Reply Period”). Unless a Lender shall give written notice to Administrative Agent that it objects to the recommendation or determination of Administrative Agent (together with a written explanation of the reasons behind such objection) prior to the expiration of within the Lender Reply Period, such Lender shall be deemed to have approved of or consented to such recommendation or determination. With respect to decisions requiring the approval of the Required Lenders or all Lenders, Administrative Agent shall timely submit any required written notices to all Lenders and upon receiving the required approval or consent shall follow the course of action or determination recommended by Administrative Agent or such other course of action recommended by the Required Lenders or all of the Lenders, as the case may be be, and each non-responding Lender shall be deemed to have concurred with such recommended course of action. Nothing in this Section 9.10 shall restrict the Administrative Agent from requesting a reply to a request for an approval in less than ten Business Days but the deemed approval provided in this Section 9.6 shall not apply until the expiration of a ten Business Day period.
Appears in 1 contract