Approval Standard definition
Examples of Approval Standard in a sentence
Seller may cancel any Operating Agreement, Occupancy Agreement or Leased Property Agreement at any time prior to the Closing with the prior written consent of Purchaser, which consent shall be subject to the Approval Standard; provided, however, if Seller elects to cancel any such agreement, Seller shall pay any termination fee associated with such termination, and shall give Purchaser notice of such termination.
Each request by Borrower for approval and consent by Lender pursuant to this Section 5.25 shall be in writing and be subject to the Deemed Approval Standard.
Each request by Borrower for approval and consent by Lender pursuant to this Section 5.38 shall be in writing and be subject to the Deemed Approval Standard.
Seller and Operating Lessee shall not before or after Closing release or modify any Warranties and Guaranties, if any, except with the prior written consent of Purchaser, which consent shall be subject to the Approval Standard.
Any Major Leases executed after the date hereof shall be subject to the prior written approval of Lender, which approval shall be subject to the Deemed Approval Standard.
Accordingly, during the term of this Agreement, each Partner (including any of its affiliates) shall neither engage nor knowingly cause a third party to engage (other than through the Company) in the sale or distribution of any products in Japan that contain Kinetin, Trichloroacetic Acid (TCA), Hydroquinone, Retin-A, and/or Phytic Acid (if contained over the range specified in Japanese Cosmetic Approval Standard) as an ingredient (the "Competing Products").
The Operating Member agrees that if the Operating Member REIT Board determines that the Investor Member’s proposed financing terms meet the Affiliate Loan Approval Standard, it will not seek outside funding sources for the Default Amount.
In the event Lender fails to grant or withhold its approval and consent to the matter that is the subject of a Borrower request within the time periods specified in the Deemed Approval Standard, then, so long as no Event of Default is continuing, Lender’s approval and consent shall be deemed to have been granted.
In addition, if at any time fewer than two members of the board of directors of AAC are Unaffiliated Qualified Directors, those actions specified in this Agreement as requiring the approval of the Unaffiliated Qualified Directors may be taken (i) upon the approval of the remaining Unaffiliated Qualified Director (if any) and (ii) if they satisfy the OCI Approval Standard.
So long as Landlord’s objections fall within Landlord’s discretion pursuant to the Approval Standard, Tenant will cause a revised Space Plan to be delivered to Landlord and it will be treated as though it was the first proposed Space Plan prepared pursuant to this paragraph.