Common use of Requests for Approval Clause in Contracts

Requests for Approval. If Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response) after such written request from Administrative Agent, then Administrative Agent will send a second request to such Lender. In the event any Lender fails to reply to such second request for approval from Administrative Agent within five (5) days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response), which second request shall state in bold lettering: “LENDER’S RESPONSE IS REQUIRED WITHIN THREE (3) DAYS AFTER RECEIPT OF THIS NOTICE IN ACCORDANCE WITH THE TERMS OF THE LOAN AGREEMENT. FAILURE TO RESPOND WITHIN SUCH TIME PERIOD SHALL BE DEEMED APPROVAL BY LENDER OF THE MATTERS SET FORTH HEREIN” with the appropriate number of days inserted by Administrative Agent, then such Lender shall be deemed to have approved (and voted in favor of) Administrative Agent’s recommendation with respect to any matters set forth in the request.

Requests for Approval. If the Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to the Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response) after such written request from the Administrative Agent. In the event that any recommendation is not approved by the requisite number of Lenders and a subsequent approval on the same subject matter is requested by Administrative Agent, then Administrative Agent will send for the purposes of this paragraph each Lender shall be required to respond to a second request to such Lender. In the event any Lender fails to reply to such second request for approval from Administrative Agent within five (5) days (Business Days of receipt of such request. Administrative Agent and each Lender shall be entitled to assume that any officer of the other Lenders delivering any notice, consent, certificate or sooner if other writing is authorized to give such notice specifies a shorter period for responses based on notice, consent, certificate or other writing unless Administrative Agent’s good faith determination Agent and such other Lenders have otherwise been notified in writing. If the Lender does not so respond, that circumstances exist warranting its request for an earlier response), which second request shall state in bold lettering: “LENDER’S RESPONSE IS REQUIRED WITHIN THREE (3) DAYS AFTER RECEIPT OF THIS NOTICE IN ACCORDANCE WITH THE TERMS OF THE LOAN AGREEMENT. FAILURE TO RESPOND WITHIN SUCH TIME PERIOD SHALL BE DEEMED APPROVAL BY LENDER OF THE MATTERS SET FORTH HEREIN” with the appropriate number of days inserted by Administrative Agent, then such Lender shall be deemed to have approved (and voted in favor of) Administrative Agent’s recommendation with respect to any matters set forth in the request, unless the consent or approval of affected Lenders or such Lender is required for the requested action as provided under any of clauses (i) through (xiv) of Section 8.2(b), in which event failure to so respond shall not be deemed to be an approval of such request.

Requests for Approval. If Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response) after such written request from Administrative Agent, then Administrative Agent will send a second request to such Lender. In the event any Lender fails to reply to such second request for approval from Administrative Agent within five (5) days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response), which second request shall state in bold lettering: “LENDERXXXXXX’S RESPONSE IS REQUIRED WITHIN THREE (3) DAYS AFTER RECEIPT OF THIS NOTICE IN ACCORDANCE WITH THE TERMS OF THE LOAN AGREEMENT. FAILURE TO RESPOND WITHIN SUCH TIME PERIOD SHALL BE DEEMED APPROVAL BY LENDER OF THE MATTERS SET FORTH HEREIN” with the appropriate number of days inserted by Administrative Agent, then such Lender shall be deemed to have approved (and voted in favor of) Administrative Agent’s recommendation with respect to any matters set forth in the request.