Requests for Approval by Owner Clause Samples

Requests for Approval by Owner. Owner shall act promptly with respect to any written request by Proinvest for approval (which approval shall be effective only if given in writing, provided however, that if the approval requested by Proinvest in its written request is not approved or disapproved by Owner in writing within ten (10) days after Owner’s receipt of such request, the request shall be deemed approved) of any action proposed to be taken by Proinvest or any amendment to the Owner’s Budget, any Asset Budget, or the Owner’s Business Plan proposed by Proinvest. Proinvest’s requests for approval or consent by Owner under this Agreement shall in no event be unreasonably withheld, delayed, conditioned, or denied. A request by Owner for additional information or a modification shall be deemed disapproval until 10 days after the modification is made or additional information is provided.