Common use of Approval of Lenders Clause in Contracts

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 2 contracts

Samples: Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/)

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Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) after receipt of the request therefore therefor by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 2 contracts

Samples: Credit Agreement (Standard Pacific Corp /De/), Credit Agreement (Standard Pacific Corp /De/)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders any Lender requesting Lenders’ such Lender's determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore therefor by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 2 contracts

Samples: Credit Agreement (Prologis Trust), Credit Agreement (Prologis Trust)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (A) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (B) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by Requisite Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”"LENDER REPLY PERIOD").

Appears in 2 contracts

Samples: Credit Agreement (Trammell Crow Co), Credit Agreement (Trammell Crow Co)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Majority Lenders or all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 2 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (a) All communications from the Administrative Agent to Lenders any Lender requesting Lenders’ such Lender’s determination, consent, approval, approval or disapproval (ia) shall be given in the form of a written notice to each such Lender, (iib) shall be accompanied by a description of the matter or thing issue as to which such determination, approval, consent, consent or disapproval is requested, or shall advise each such Lender where information, if any, regarding such matter or thing issue may be inspected, or shall otherwise describe the matter or issue to be resolved, (iiic) shall include, if reasonably requested by a such Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to the Administrative Agent by the Borrower in respect of the matter or issue to be resolved, and (ivd) shall include the Administrative Agent’s recommended course of action or determination in respect thereof. Each Unless a Lender shall reply promptly, but in any event give written notice to Administrative Agent that it specifically objects to the recommendation or determination of Administrative Agent (together with a reasonable written explanation of the reasons behind such objection) within fifteen ten (1510) Business Days (or such lesser or greater period as may be specifically required under the express terms of the Loan Documents for Administrative Agent to respondDocuments) after of receipt of such communication, such Lender shall be deemed to have conclusively approved of or consented to such recommendation or determination; provided, however, that such deemed consent shall not apply to the request therefore by Administrative Agent (matters set forth in either event, the “Lender Reply Period”Section 18.18(b).

Appears in 1 contract

Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders any Lender requesting Lenders’ such Lender’s determination, consent, approval, or disapproval shall; (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower Borrowers in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters (other than the approval of the admission of a Property into the Borrowing Base) requiring the consent by the Required Lenders, and (z) within ten (10) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for the approval of the admission of a Property into the Borrowing Base, in each instance, after receipt of the request therefore therefor by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 1 contract

Samples: Credit Agreement (CNL Hotels & Resorts, Inc.)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (A) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (B) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by Requisite Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 1 contract

Samples: Credit Agreement (Trammell Crow Co)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Majority Lenders or all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (a) 8.12.1. All communications ("Communication") from Administrative the Agent to the Lenders requesting the Lenders' determination, consent, approval, approval or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, consent or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative the Agent by the Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative the Agent’s 's recommended course of action or determination in respect thereofthereof and the date by which the Lender shall respond. Each Lender shall reply promptly, but in any event (x) if this Agreement or any other Loan Document sets forth a period within fifteen which the Lenders are to reply to the Communication, each Lender shall reply to the Communication within such period, or (15y) if no such period is set forth, within ten (10) Business Days (or such lesser period as may be required under the Loan Documents for Administrative the Agent to respond) for those matters requiring the consent by all Lenders, Majority Lenders or less than Majority Lenders, in each instance, after receipt of the request therefore by Administrative the Agent (in either any event, the "Lender Reply Period").

Appears in 1 contract

Samples: Revolving Credit Agreement (Ps Business Parks Inc/Ca)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders any Lender requesting Lenders’ such Lender's determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower Borrowers in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore therefor by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (A) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (B) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by Requisite Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 1 contract

Samples: Credit Agreement (Trammell Crow Co)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) after receipt of the request therefore by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 1 contract

Samples: Revolving Credit Agreement (Standard Pacific Corp /De/)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a CREDIT AGREEMENT summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Majority Lenders or the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”"LENDER REPLY PERIOD").

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (a) 1. All communications from Administrative Agent to the Lenders requesting the Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”"LENDER REPLY PERIOD").

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (aA) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower Borrowers in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Majority Lenders or the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”"LENDER REPLY PERIOD").

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

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Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (a) All communications (“Communication”) from Administrative the Agent to the Lenders requesting the Lenders’ determination, consent, approval, approval or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, consent or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative the Agent by the Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative the Agent’s recommended course of action or determination in respect thereofthereof and the date by which the Lender shall respond. Each Lender shall reply promptly, but in any event (x) if this Agreement or any other Loan Document sets forth a period within fifteen which the Lenders are to reply to the Communication, each Lender shall reply to the Communication within such period, or (15y) if no such period is set forth, within ten (10) Business Days (or such lesser period as may be required under the Loan Documents for Administrative the Agent to respond) for those matters requiring the consent by all Lenders, Majority Lenders or less than Majority Lenders, in each instance, after receipt of the request therefore by Administrative the Agent (in either any event, the “Lender Reply Period”).

Appears in 1 contract

Samples: Revolving Credit Agreement (Ps Business Parks Inc/Ca)

Approval of Lenders. (a) All communications from Administrative Agent to the Lenders requesting the Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower Borrowers in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”"LENDER REPLY PERIOD").

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Approval of Lenders. (a) All communications from the Administrative Agent to Lenders any Lender requesting Lenders’ such Lender’s determination, consent, approval, approval or disapproval (ia) shall be given in the form of a written notice to each such Lender, (iib) shall be accompanied by a description of the matter or thing issue as to which such determination, approval, consent, consent or disapproval is requested, or shall advise each such Lender where information, if any, regarding such matter or thing issue may be inspected, or shall otherwise describe the matter or issue to be resolved, (iiic) shall include, if reasonably requested by a such Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to the Administrative Agent by the Borrower in respect of the matter or issue to be resolved, and (ivd) shall include the Administrative Agent’s recommended course of action or determination in respect thereof. Each Unless a Lender shall reply promptly, but in any event give written notice to Administrative Agent that it specifically objects to the recommendation or determination of Administrative Agent (together with a reasonable written explanation of the reasons behind such objection) within fifteen twelve (1512) Business Days (or such lesser or greater period as may be specifically required under the express terms of the Loan Documents for Administrative Agent to respondDocuments) after of receipt of such communication, such Lender shall be deemed to have conclusively approved of or consented to such recommendation or determination; provided, however, that such deemed consent shall not apply to the request therefore by Administrative Agent (matters set forth in either event, the “Section 18.18(b) except if such Lender Reply Period”)is a Defaulting Pfandbrief Lender.

Appears in 1 contract

Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders’ determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower Borrowers in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the “Lender Reply Period”).

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders any Lender requesting Lenders’ such Lender’s determination, consent, approval, approval or disapproval (ia) shall be given in the form of a written notice to each such Lender, (iib) shall be accompanied by a description of the matter or thing issue as to which such determination, approval, consent, consent or disapproval is requested, or shall advise each such Lender where information, if any, regarding such matter or thing issue may be inspected, or shall otherwise describe the matter or issue to be resolved, (iiic) shall include, if reasonably requested by a such Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower Borrowers in respect of the matter or issue to be resolved, and (ivd) shall include Administrative Agent’s recommended course of action or determination in respect thereof. Each Unless a Lender shall reply promptly, but in any event give written notice to Administrative Agent that it specifically objects to the recommendation or determination of Administrative Agent (together with a reasonable written explanation of the reasons behind such objection) within fifteen ten (1510) Business Days (or such lesser or greater period as may be specifically required under the express terms of the Loan Documents for Administrative Agent to respondDocuments) after of receipt of the request therefore by Administrative Agent (in either eventsuch communication, the “such Lender Reply Period”).shall be deemed to have conclusively approved of or consented to such recommendation or determination. Credit Agreement 67

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Approval of Lenders. (a) All communications from the Administrative Agent to the Lenders requesting the Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to the Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include the Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for the Administrative Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for the Administrative Agent to respond) for those matters requiring the consent by the Required Lenders, in each instance, after receipt of the request therefore by the Administrative Agent (in either event, the “Lender Reply Period”"LENDER REPLY PERIOD").

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Approval of Lenders. (a) All communications from Administrative Agent to Lenders requesting Lenders' determination, consent, approval, or disapproval (i) shall be given in the form of a written notice to each Lender, (ii) shall be accompanied by a description of the matter or thing as to which such determination, approval, consent, or disapproval is requested, or shall advise each Lender where such matter or thing may be inspected, or shall otherwise describe the matter or issue to be resolved, (iii) shall include, if reasonably requested by a Lender and to the extent not previously provided to such Lender, written materials and a summary of all oral information provided to Administrative Agent by Borrower in respect of the matter or issue to be resolved, and (iv) shall include Administrative Agent’s 's recommended course of action or determination in respect thereof. Each Lender shall reply promptly, but in any event (x) within thirty (30) days (or such lesser period as may be required under the Loan Documents for Agent to respond) for those matters requiring the consent by all Lenders, and (y) within fifteen (15) Business Days (or such lesser period as may be required under the Loan Documents for Administrative Agent to respond) for those matters requiring the consent by Required Lenders, in each instance, after receipt of the request therefore by Administrative Agent (in either event, the "Lender Reply Period").

Appears in 1 contract

Samples: Credit Agreement (American Industrial Properties Reit Inc)

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