Deemed Approval. An application is deemed approved if CMS fails to act on the application within 90 days after one of the following dates:
Deemed Approval. If the Department has failed to respond to the Collateral Agent within 60 days of the date on which the Department has confirmed it has received the information specified in Section 5.03 in respect of any proposed Substitute, the approval of the Department will be deemed to have been given.
Deemed Approval. In the event that (a) any Borrower delivers to Administrative Agent a written request pursuant to Section 11.1 for Administrative Agent’s approval of (i) a Lease or other leasing matter requiring Administrative Agent consent under this Article 4 with respect to a matter, amendment or new Lease with comparable or superior economic terms and conditions from the immediately preceding provision or Lease in the reasonable judgment of the Borrowers’ Agent or (ii) the termination of a Lease pursuant to the terms of such Lease due to the Tenant’s default thereunder provided such termination is in the best interest of the applicable Borrower in the reasonable business judgment of the Borrowers’ Agent, (b) Administrative Agent has failed to respond to such request within ten (10) Business Days after Administrative Agent’s receipt of such request, and (c) Borrowers have delivered to Administrative Agent by such method a second copy of such request with such supporting documents and information required above, then, if Administrative Agent has failed to respond to such second written request pursuant to Section 11.1 within five (5) Business Days after Administrative Agent’s receipt of such second written request and such supporting documents and information, such request shall be deemed approved; provided that each such request included a legend prominently displayed at the top of the first page thereof in solid capital letters in bold face type of a font size not less than fourteen (14) as follows: “WARNING: IF YOU FAIL TO RESPOND TO OR EXPRESSLY DENY THIS REQUEST FOR APPROVAL IN WRITING WITHIN TEN (10)/FIVE (5) BUSINESS DAYS AFTER YOUR RECEIPT, YOU WILL BE DEEMED TO HAVE APPROVED THIS REQUEST.” For the avoidance of doubt, if Administrative Agent responds to any such request with a request for further information or documentation, the initial ten (10) Business Day period or subsequent five (5) Business Day period, as the case may be, shall not commence until all such requested information and/or documentation has been received by Administrative Agent.
Deemed Approval. Whenever a Majority Vote is required in this Agreement, the Company shall provide the Members with notice of such required vote, and the Members shall have 15 days after the date such notice is sent by the Company to approve or disapprove of the matter. If a Member does not disapprove of such matter within the 15-day specified response period described above, the Member shall be deemed to have voted in accordance with the vote recommended by the Manager.
Deemed Approval. Provided that the Owner has first complied with the requirements of section 6.1 to the satisfaction of the Trust, any approval required to be obtained from the Trust under this Agreement shall be deemed to have been given upon the failure of the Trust to respond in writing to a written request for it within sixty (60) days of receiving such request and all of the Information requested by the Trust at its address as set out in section 11.1 of this Agreement.
Deemed Approval. Where applicable, all coding and/or approval to be provided by the Company Representative must be received within 14 days of Tervita’s request for such coding and/or approval. On the 15th day following Tervita’s request, the coding and/or approval shall be deemed to have been received and Tervita shall invoice Company in accordance with the Agreement.
Deemed Approval. NYSCRF shall be deemed to have approved and the General Partner shall not have any liability or responsibility under either Section 6.12 or Section 6.13, to the extent that the action which caused the Company or NYSCRF to incur UBTI or which constituted a prohibited transaction (a) received the approval of NYSCRF where such approval is required under this Agreement, or (b) resulted from the Company’s failure to take any action proposed by the General Partner and submitted to NYSCRF, if such failure was because such proposed action did not receive the approval of NYSCRF.
Deemed Approval. If no resolution to approve the proportional takeover bid has been voted on in accordance with this clause as at the end of the day before the approving resolution deadline, a resolution to approve the bid is taken, for the purposes of this clause, to have been passed in accordance with this clause.
Deemed Approval. Whenever, by the terms of this Lease, consent or approval of either Landlord or Tenant is required, and such party is deemed to have consented to any requested action or condition unless such party shall have responded within the period specified in the appropriate Section of this Lease, no such consent or approval shall be deemed to have been given unless the notice requesting such approval shall have set forth, in a manner reasonably evident to the recipient, that failure to respond within the specified period of time would constitute approval of the requested action or condition.
Deemed Approval. RIDA will not enter into an agreement for the management of all or a substantial portion of the Facility unless such management agreement (a) is a Hotel Management Agreement that includes the management of the Resort Hotel and (b) is approved by the Port pursuant to and in accordance with the Ground Lease, except the Hotel Management Agreement that is in effect as of the Commencement Date, which the Port reviewed and consented to prior to the Commencement Date. Notwithstanding anything to the contrary herein or in any Contemporaneous Agreement, Hotel Operator shall have the right to subcontract any of its responsibilities to be performed by it under any Hotel Management Agreement to any third party without the prior consent of the City; provided that Hotel Operator shall not be relieved of its obligations pursuant to such Hotel Management Agreement as a result of such subcontracting. If the Port approves a Hotel Management Agreement pursuant to and in accordance with the Ground Lease, then the terms and conditions of this Sublease shall in no way be deemed to have been waived or modified.
