Requests for Approval. If the Agent requests in writing the consent or approval of a Lender, unless otherwise provided herein or in any other Loan Document, such Lender shall respond and either approve or disapprove definitively in writing to the Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period, but in no event less than five (5) Business Days for responses based on the Agent's good faith determination that circumstances exist warranting its request for an earlier response) after such written request from the Agent, and within fifteen (15) Business Days of the written request from the Agent and the receipt of all documents and information required by Sections 5.3 and 5.4, as applicable, when considering new Hotel Properties for inclusion in the Collateral Pool. If the Lender does not so respond, that Lender shall be deemed to have approved the request. Upon request, the Agent shall notify the Lenders which Lenders, if any, failed to respond to a request for approval.
Appears in 4 contracts
Samples: Revolving Credit Agreement (RFS Hotel Investors Inc), Revolving Credit Agreement (RFS Hotel Investors Inc), Revolving Credit and Term Loan Agreement (RFS Hotel Investors Inc)
