Common use of Certificates of Approval Clause in Contracts

Certificates of Approval. With respect to any Deemed Approval Matter, such matter shall be deemed approved by Lender if Borrower delivers to Lender, with Borrower's next request for a disbursement pursuant to Article III, below, a properly completed and factually accurate Certificate of Approval, and Lender does not dispute such Certificate of Approval by written notice to Borrower delivered within five (5) Business Days following Lender's receipt thereof. Such Lender approval shall be effective as of the date such approval was required, unless Lender timely delivers such written notice disputing such Certificate of Approval.

Certificates of Approval. With respect to any Deemed Approval Matter, such matter shall be deemed approved by Lender if Borrower delivers to Lender, with Borrower's ’s next request for a disbursement pursuant to Article III, below, a properly completed and factually accurate Certificate of Approval, and Lender does not dispute such Certificate of Approval by written notice to Borrower delivered within five (5) Business Days following Lender's ’s receipt thereof. Such Lender approval shall be effective as of the date such approval was required, unless Lender timely delivers such written notice disputing such Certificate of Approval.