Common use of Negative Consent Clause in Contracts

Negative Consent. The Subscriber hereby agrees that if the Subscriber is asked to consent to any proposed amendment of the offering terms in the Memorandum and written notice of such proposed amendment is given to the Subscriber in accordance with the notice provisions of the Articles of Association, the Subscriber shall be deemed to have consented to the proposed amendment if the Subscriber does not affirmatively object in writing to such proposed amendment within twenty (20) days (or such shorter time as may be determined by the Directors in their discretion) after such notice is received or deemed to have been received in accordance with the notice provisions of the Articles of Association.