Applicable Response Period definition

Applicable Response Period means the shorter of (a) 30 days after the receipt of notice from an Indemnitee in accordance with Section 3.7(a) or Section 3.8(a), as applicable, or (b) the greater of (i) 5 Business Days prior to any deadline that the Indemnitee must comply with to meet the Indemnitee’s own contractual obligations or to exercise the Indemnitee’s contractual rights against a Third Party (provided that the Indemnitee has set forth such deadline in its notice given in accordance with Section 3.7(a) or Section 3.8(a), as applicable) and (ii) 5 Business Days following the receipt of the notice from an Indemnitee in accordance with Section 3.7(a) or Section 3.8(a), as applicable.

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Applicable Response Period has the meaning specified in Section 2.22(a).

Applicable Response Period means the shorter of (a) 30 days after the receipt of notice from an Indemnitee in accordance with Section 3.7 (a) or Section 3.8(a), as applicable, or (b) the greater of (i) 5 Business Days prior to any deadline that the Indemnitee must comply with to meet the Indemnitee’s own contractual obligations or to exercise the Indemnitee’s contractual rights against a Third Party (provided that the Indemnitee has set forth such deadline in its notice given in accordance with Section 3.7(a) or Section 3.8(a), as applicable) and (ii) 5 Business Days following the receipt of the notice from an Indemnitee in accordance with Section 3.7(a) or Section 3.8(a), as applicable.

Examples of Applicable Response Period in a sentence

Within the Applicable Response Period, the Indemnifying Party shall notify the Indemnitee as to whether the Indemnifying Party will defend such Third Party Claim.
The failure to give such notice of election within the Applicable Response Period shall be deemed a determination not to defend such Third Party Claim.
Any such notice shall describe the claim in reasonable detail and set forth the Applicable Response Period.
If such Indemnifying Party does not respond within the Applicable Response Period or rejects such claim in whole or in part, such Indemnitee shall be free to pursue such remedies as may be available to such Party as contemplated by this Agreement and the Ancillary Agreements.
Such Indemnifying Party shall respond to such notice within the Applicable Response Period.
Any such notice shall describe the Third Party Claim in reasonable detail and set forth the Applicable Response Period.
If such Indemnifying Party does not respond within the Applicable Response Period, such Indemnifying Party shall be deemed to have refused to accept responsibility to make payment.
Notwithstanding anything contained herein to the contrary, no request shall be “deemed approved” unless the request for consent specifies in all capital letters as follows: “CONSENT TO THE MATTERS SET FORTH HEREIN SHALL BE DEEMED GIVEN IF NO RESPONSE IS PROVIDED WITHIN [____ DAYS; specify relevant number of days (which shall be no less than the Applicable Response Period)] OF THE DATE HEREOF”.
Each Lender shall notify the Administrative Agent within the Applicable Response Period whether or not it agrees to the applicable Floor Plan Increase and, if so, the amount that it is willing to commit to the requested increase.
Any Lender not responding within the Applicable Response Period shall be deemed to have declined to provide such Floor Plan Increase.

More Definitions of Applicable Response Period

Applicable Response Period means the applicable number of days for a party to respond to a submission or a request for an approval as provided in this Work Letter, or, if no such period is set forth in this Work Letter, five (5) business days after receipt of the submission or request for approval. Portions of this Exhibit, indicated by the ▇▇▇▇ “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.