Common use of Request for Authority Clause in Contracts

Request for Authority. (a) Subject to Section 7.03(b), if the Servicer wishes to take or approve any action which it is not expressly authorized under this Agreement to take or approve, it shall request authority from AerCo to take or approve the action. The Servicer's request for authority shall be in writing, and shall include a reasonably detailed explanation of the reason for the request. If on or prior to the earlier of (i) the last day for a response by AerCo as specified by the Servicer in its request (being not less than 5 Business Days after the request) or (ii) the day following the next meeting of the Directors following the request, AerCo does not expressly refuse such request and no Referral Notice has issued in respect of it, the Servicer shall be deemed to be authorized in writing to take or to approve such action on behalf of AerCo Group following notification in writing to AerCo of the Servicer's intention to proceed in accordance with its request. For the avoidance of doubt, this Section 7.03 does not permit the Servicer to take or approve any action which it is expressly required not to take or approve under this Agreement.

Request for Authority. (a) Subject to Section 7.03(b), if the Servicer wishes to take or approve any action which it is not expressly authorized under this Agreement to take or approve, it shall request authority from AerCo to take or approve the action. The Servicer's request for authority shall be in writing, and shall include a reasonably detailed explanation of the reason for the request. If on or prior to the earlier of (i) the last day for a response by AerCo as specified by the Servicer in its request (being not less than 5 Business Days after the request) or (ii) the day following the next meeting of the Directors following the request, AerCo does not expressly refuse such request and no Referral Notice has issued in respect of itrequest, the Servicer shall may be deemed to be authorized in writing to take or to approve such action on behalf of AerCo Group following notification in writing to AerCo of the Servicer's intention to proceed in accordance with its request. For the avoidance of doubt, this Section 7.03 does not permit the Servicer to take or approve any action which it is expressly required not to take or approve under this Agreement.