AFE Response Time Sample Clauses
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AFE Response Time. The Parties shall have fifteen (15) days from receipt of an AFE within which to approve or disapprove the amount and expenditures within the AFE. If the AFE relates to a matter previously approved, the Parties shall not have the authority to disapprove the project covered by the AFE but may suggest modification in its scope. The Parties failure to approve an AFE, which was not previously approved, shall be deemed the disapproval of such AFE.
AFE Response Time. The Board of Managers shall have fifteen (15) ------------------ days from receipt of an AFE covering a Major Decision in an approved Annual Budget within which to approve or disapprove the amount of the AFE and fifteen (15) days from receipt of an AFE related to a Major Decision not in an approved Annual Budget within which to approve or disapprove or such lesser time as may be required under the circumstances. The Board of Managers' failure to approve an AFE shall be deemed the disapproval of such AFE.