Deemed Approval definition

Deemed Approval. In connection with Lender’s approval of the Annual Budget pursuant to this Section 5.1.11(d), Borrower shall provide to Lender, along with the proposed budget, all required information and documentation relating thereto as reasonably required by Lender for approval, together with a notice that is marked in bold lettering with the following language: “LENDER’S RESPONSE IS REQUIRED WITHIN FIFTEEN (15) BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF THE LOAN AGREEMENT BETWEEN THE UNDERSIGNED AND THE LENDER” and the envelope containing the request must be marked “PRIORITY”. If Lender does not approve or reject the proposed budget within fifteen (15) Business Days of its receipt of the budget and additional information and documentation, Borrower shall send a second notice to Lender that is marked in bold lettering with the following language: “LENDER’S RESPONSE IS REQUIRED WITHIN FIVE (5) BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF THE LOAN AGREEMENT BETWEEN THE UNDERSIGNED AND THE LENDER” and the envelope containing the request must be marked “PRIORITY”. In the event Lender fails to respond to the second notice, the proposed budget shall be deemed the Approved Annual Budget; provided, however, if Lender reasonably requests additional information at any time after the first or second notice is given but prior to the time period in which Lender has to respond, the time for Lender’s response shall be extended for either fifteen (15) or five (5) Business Days, as applicable, following its receipt of all reasonably requested information and documentation. The budgets submitted by Borrower for 2016 are hereby approved.
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Deemed Approval means a clearance deemed to have given by the competent authority on the expiry of time limit for providing such clearance in the absence of sufficient and reasonable cause for not clearing the application within the time limit;
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Deemed Approval means a Supplement or Payment Request that will be treated as Approved in the form submitted for all purposes under this Agreement due to the expiration of any applicable review and approval periods provided in this Agreement.
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Examples of Deemed Approval in a sentence

  • Deemed Approval of a Supplement or Payment Request will not constitute a waiver of the right of the Agency or the Director of Public Works, as applicable, to obtain information and documents that would have been required for a proposed Supplement or Payment Request to be complete.

  • The provisions of Section 2.9 will apply to such Approval and Deemed Approval process; provided, however, that the standard for Approval of such geotechnical reports will be whether (a) such report demonstrates material compliance with the geotechnical scope requirements of Exhibit L, and (b) whether the estimated incremental cost of construction of such foundation due to the geotechnical conditions at such turbine location exceeds the Baseline Turbine Foundation Amount by more than $ .

  • The Members (other than the Managing Member) shall approve or disapprove the income tax returns within thirty (30) days after delivery thereof (and a failure to respond within such time shall be subject to a Deemed Approval Notice).

  • Any changes to the Conceptual Site Plan that constitute a Material Design Change are subject to City’s prior review and approval in its proprietary capacity under this Agreement, which shall be rendered in accordance with the Deemed Approval Process and this Article 5.

  • Following TAC approval of the Master Development Plan and plat, if required by Broward County, and prior to applying for any building permits for the construction of the Public Facilities of the Project, Developer shall obtain City’s written approval (or by the Deemed Approval Process) pursuant to the procedures set forth in this Section.

  • Landlord shall approve or request modifications to the Mitigation Plan in Landlord’s reasonable discretion, provided that (x) any requested modifications shall be customary and consistent with comparable construction projects, and (y) Landlord’s approval shall be subject to the Deemed Approval Process.

  • Except as otherwise expressly provided herein, a Member shall be deemed to have approved a matter set forth in a Major Decision Notice if more than five (5) Business Days elapse following such Member’s receipt of a Deemed Approval Notice; provided, however, no Deemed Approval Notice shall be delivered prior to the expiration of at least twenty-five (25) days following delivery of a Major Decision Notice.


More Definitions of Deemed Approval

Deemed Approval is defined in Section 2.9.2.
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Deemed Approval means an approval deemed to have been given on the expiry of a period specified under section 10(2) of the Act;
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Deemed Approval. The Limited Partners shall have an affirmative duty to timely respond to requests by the General Partner for a vote on Partner- ship matters. If any Limited Partner fails to respond within thirty (30) days to any such request for action of the Limited Partners by the General Partner, consent or approval, as appropriate, shall be deemed.
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Deemed Approval means approval contemplated in section 30(3)(b) of the Public Service Act, 1994;
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Deemed Approval means an approval deemed to have been given on the expiry of a period specified under sub-section (3) of section 10 of this Act;
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Related to Deemed Approval

  • Required Approval has the meaning specified in Section 2.2(b).

  • Approved/Approval means the approval in writing.

  • Required Approvals shall have the meaning ascribed to such term in Section 3.1(e).

  • IRB approval means the determination of the IRB that the research has been reviewed and may be conducted at an institution within the constraints set forth by the IRB and by other institutional and federal requirements.

  • Special Approval means approval by a majority of the members of the Conflicts Committee.

  • CPUC Approval means a final and non-appealable order of the CPUC, without conditions or modifications unacceptable to the Parties, or either of them, which contains the following terms:

  • HSR Approval means expiration of all applicable waiting periods under the HSR Act (including any voluntary agreed extensions) or earlier termination thereof.

  • Approval or Approved means approval in writing including subsequent written confirmation of previous verbal approval.

  • Required Shareholder Approval has the meaning in Section 2.20.

  • Requisite Shareholder Approval shall have the meaning set forth in Section 4.3(a).

  • Conditional approval means a time-limited status that results when an approved nursing education program has failed to maintain requirements as set forth in this chapter.

  • MAA Approval means approval by the EMEA of a marketing authorization application (“MAA”) filed with the EMEA for the applicable Licensed Product under the centralized European procedure. If the centralized EMEA filing procedure is not used, MAA Approval shall be achieved upon the first Approval for the applicable Licensed Product in any two of the following countries: France, Germany, Italy, Spain or the United Kingdom.

  • Required Consent has the meaning set forth in Section 4.4.

  • Disinterested Shareholder Approval means approval by a majority of the votes cast by all the Company’s shareholders at a duly constituted shareholders’ meeting, excluding votes attached to Common Shares beneficially owned by Insiders who are Service Providers or their Associates;

  • CFIUS Approval means that any of the following shall have occurred: (a) the review period under the DPA commencing on the date that a CFIUS Notice is accepted by CFIUS shall have expired and Xxx, on the one hand, and Polaris, on the other hand, shall have received written notice from CFIUS to the effect that such review has been concluded and that either the Contemplated Transactions do not constitute a “covered transaction” under the DPA or there are no unresolved national security concerns, and all action under the DPA is concluded with respect to the Contemplated Transactions, (b) an investigation under the DPA shall have been commenced after such review period and CFIUS shall have determined to conclude all action under the DPA without sending a report to the President of the United States, and Xxx, on the one hand, and Polaris, on the other hand, shall have received written notice from CFIUS that either the Contemplated Transactions do not constitute a “covered transaction” under the DPA or there are no unresolved national security concerns, and all action under the DPA is concluded with respect to the Contemplated Transactions, or (c) CFIUS shall have sent a report to the President of the United States requesting the President’s decision and either (i) the President shall have announced a decision not to take any action to suspend or prohibit the Contemplated Transactions or, (ii) the period under the DPA during which the President may announce his decision to take action to suspend, prohibit or place any limitations on the Contemplated Transactions shall have expired without any such action being threatened, announced or taken.

  • FCC Approval means the FCC’s grant of the FCC Applications; provided that the possibility that an appeal, request for stay, or petition for rehearing or review by a court or administrative agency may be filed with respect to such grant, or that the FCC may reconsider or review such grant on its own authority, shall not prevent such grant from constituting FCC Approval for purposes of the Plan.

  • Governmental Approval is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.

  • Initial approval means authorization to admit students and enter into contractual agreements for clinical facilities. It is granted only after an application has been submitted, reviewed and a survey visit made by the Board. No students shall be admitted to the program until the institution has received written notification that initial approval has been granted. Failure to comply will delay initial approval.

  • Final Approval means the Court’s order granting final approval of the Settlement.

  • Parent Shareholder Approval means the approval of the Parent Share Issuance by the affirmative vote of a majority of the Parent Common Shares entitled to vote thereon and present in person or represented by proxy at the Parent Shareholder Meeting in accordance with applicable securities Laws, the rules and regulations of the NYSE and the TSX, as applicable, the ABCA and the Organizational Documents of Parent.

  • Works Approval means this Works Approval numbered W5894/2015/1 and issued under the Act; and

  • Shareholder Approval Date means the date on which this Plan is approved shareholders of the Company eligible to vote in the election of directors, by a vote sufficient to meet the requirements of Code Sections 162(m) (if applicable) and 422, Rule 16b-3 under the Exchange Act (if applicable), applicable requirements under the rules of any stock exchange or automated quotation system on which the Shares may be listed on quoted, and other laws, regulations and obligations of the Company applicable to the Plan.

  • Shareholder Approval means such approval as may be required by the applicable rules and regulations of the Nasdaq Stock Market (or any successor entity) from the shareholders of the Company with respect to the transactions contemplated by the Transaction Documents, including the issuance of all of the Shares and Warrant Shares in excess of 19.99% of the issued and outstanding Common Stock on the Closing Date.

  • Company Shareholder Approval has the meaning set forth in Section 4.03(d).

  • Approval Notice means, with respect to any Eligible Loan Asset, the written notice, in substantially the form attached hereto as Exhibit A, evidencing the approval by the Agent, in its sole discretion, of the conveyance of such Eligible Loan Asset by the Transferor to the Equityholder pursuant to the terms of the First Tier Purchase and Sale Agreement and by the Equityholder to the Borrower pursuant to the terms of the Second Tier Purchase and Sale Agreement and the Assignments by which the Transferor effects such conveyance.

  • Stockholder Approval has the meaning set forth in Section 4.5.