Example Definitions of "Acquiesces"
Acquiesces. Means, with respect to any Person and any act or omission that may give rise to Guaranty Losses, and such Person having received (separately, simultaneously and with particularity) written notice from the Person causing such action to be taken or omitted and specifically describing such act or omission, such Person responding with a written statement within five (5) Business Days of its receipt of such notice affirmatively stating that such Person does not object to such noticed acts or... omissions (it being specifically acknowledged and agreed, however, that if such Person does not so respond within such five (5) Business Day period, then such Person shall be deemed to have not Acquiesced). For example, if (x) any TriBridge Party desires to take or omit an action which if taken or omitted may give rise to Guaranty Losses, (y) such TriBridge Party gives simultaneous and specific written notices to the Bluerock Guarantor of such TriBridge Party's intent with regard to such action, and (z) the Bluerock Guarantor fails to respond within five (5) Business Days, then the Bluerock Guarantor shall be deemed to have not Acquiesced to such action. View More
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