Common use of Approval or Denial Clause in Contracts

Approval or Denial. If a loan guarantee is approved by DOT OSDBU, a Guarantee Agreement, form DOT F 2314–1, will be issued to the Participating Lender. If a loan guar- xxxxx is declined by the Participating Lender, the Participating Lender is re- sponsible for communicating the rea- sons for the decline to the applicant. The Participating Lender must notify the applicant, in writing, of the rea- sons for the decline; and a copy of this notification must be sent to DOT OSDBU. If a loan guarantee is declined by the DOT OSDBU, DOT OSDBU will be responsible for communicating the reasons for the decline to the appli- cant. The form is available at http:// xxx.xxxxx.xxx.xxx/xxxxxxxxx/xxxx/ LoanlGuaranteelDOTlFl2314-1.pdf.

Approval or Denial. If a loan guarantee is approved by DOT OSDBU, a Guarantee Agreement, form DOT F 2314–1, will be issued to the Participating Lender. If a loan guar- xxxxx is declined by the Participating Lender, the Participating Lender is re- sponsible for communicating the rea- sons for the decline to the applicant. The Participating Lender must notify the applicant, in writing, of the rea- sons for the decline; and a copy of this notification must be sent to DOT OSDBU. If a loan guarantee is declined by the DOT OSDBU, DOT OSDBU will be responsible for communicating the reasons for the decline to the appli- cant. The form is available at http:// xxx.xxxxx.xxx.xxx/xxxxxxxxx/xxxx/ .xxxxx.xxx.xxx/xxxxxxxxx/xxxx/ LoanlGuaranteelDOTlFl2314-1.pdf.