Common use of RESULT OF INACTION Clause in Contracts

RESULT OF INACTION. If DECLARANT fails either to approve or disapprove such plans and specifications within thirty (30) days after the same have been submitted to it, it shall be conclusively presumed that DECLARANT has approved said plans and specifications; provided, however, that if within said thirty (30) day period, DECLARANT gives written notice of the fact that a reasonable additional period is required for the approval of such plans and specifications, there shall be no presumption that the same are approved until the expiration of the extended period set forth in said notice.