Time and Procedure for Approval Sample Clauses

Time and Procedure for Approval. Unless provision is made for a specific time period, each response to a request for an approval or consent shall be given by the person to whom directed within ten (10) days of receipt. Each disapproval shall be in writing and the reasons shall be clearly stated. If a response is not given within the required time period, the requested party shall be deemed to have given its approval, provided the request for approval clearly states that failure to respond within such time will constitute approval. If any approval or consent is given due to the failure to respond within the ten (10) day period provided herein, and provided the request for approval clearly stated that failure to respond would constitute approval, a party whose approval is so given shall confirm such approval in writing within fifteen (15) days after written request by any party.