Common use of Negative Consent Clause in Contracts

Negative Consent. For purposes of any consent sought by the General Partner pursuant to any provision of this Agreement requiring the vote or consent of the Partners (whether in respect of an amendment, waiver or otherwise), the General Partner may require a response within a specified time (which shall not be less than 10 Business Days) from a Partner and the failure of such Partner to respond within such specified time shall constitute consent of such Partner to the proposed amendment, waiver or other action, except as otherwise prohibited by law.

Negative Consent. For purposes of any consent sought by the General Partner pursuant to any provision of this Agreement requiring the vote or consent of the Partners (whether in respect of an amendment, waiver or otherwise), the General Partner may require a response within a specified time (which shall not be less than 10 Business Days) from a Partner and the failure of such Partner to respond within such specified time shall constitute consent of such Partner to the proposed amendment, waiver or other action, except as otherwise prohibited by law.law.‌