Common use of Requests for Approval Clause in Contracts

Requests for Approval. If the Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to the Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response) after such written request from the Administrative Agent. Notwithstanding anything to the contrary contained herein, the failure of a Lender to respond with such a written approval or disapproval within such time period shall not result in such Lender becoming a Defaulting Lender.

Appears in 16 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Senior Revolving Credit Agreement (Terreno Realty Corp), Credit Agreement (Inland Real Estate Corp)

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Requests for Approval. If Unless a specific time period for approval is set forth elsewhere in this Agreement, if the Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to the Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period period, but in no event less than five Business Days for responses based on Administrative Agent’s 's good faith determination that circumstances exist warranting its request for an earlier response) after such written request from the Administrative Agent. Notwithstanding anything If the Lender does not so respond, that Lender shall be deemed to have approved the contrary contained hereinrequest. Upon request, the failure of a Lender Administrative Agent shall notify the Lenders which Lenders, if any, failed to respond with such to a written approval or disapproval within such time period shall not result in such Lender becoming a Defaulting Lenderrequest for approval.

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (Equity Inns Inc), Secured Revolving Credit Agreement (Equity Inns Inc), Credit Agreement (Equity Inns Inc)

Requests for Approval. If the Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to the Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response) after such written request from the Administrative Agent. Any failure by a Lender to so approve or disapprove in writing within such period shall be deemed to be an approval by such Lender. Notwithstanding anything to the contrary contained herein, the failure of a Lender to respond with such a written approval or disapproval within such time period shall not result in such Lender becoming a Defaulting Lender.

Appears in 2 contracts

Samples: Credit Agreement (Inland Diversified Real Estate Trust, Inc.), Credit Agreement (Inland Diversified Real Estate Trust, Inc.)

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Requests for Approval. If Unless a specific time period for approval is set forth elsewhere in this Agreement, if the Administrative Agent requests in writing the consent or approval of a Lender, such Lender shall respond and either approve or disapprove definitively in writing to the Administrative Agent within ten (10) Business Days (or sooner if such notice specifies a shorter period period, but in no event less than five Business Days for responses based on Administrative Agent’s good faith determination that circumstances exist warranting its request for an earlier response) after such written request from the Administrative Agent. Notwithstanding anything If the Lender does not so respond, that Lender shall be deemed to have approved the contrary contained hereinrequest. Upon request, the failure of a Lender Administrative Agent shall notify the Lenders which Lenders, if any, failed to respond with such to a written approval or disapproval within such time period shall not result in such Lender becoming a Defaulting Lenderrequest for approval.

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Equity Inns Inc)

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