Define: Deemed Approval

How is Deemed Approval defined in a legal contract?

• Deemed Approval means the assumption that approval has been given by the relevant authority once a specific time period has passed without the rejection of the application due to lack of valid reason for not clearing the application within the time limit.
  Seen in 3 SEC filings
• Deemed Approval means a request that is treated as approved regardlesss of all rules under an agreement due to the expiration of any applicable review and approval periods.
  Seen in 2 SEC filings
• Deemed Approval means when the authority fails to respond to the second notice, the proposal is assumed to be the Approved Annual Budget; but this is under the condition that if the authority reasonably request additional information anytime after the first or second notice is given but before the time period in which the authority has to respond, the time for the response is extended either for fifteen or five business days, as applicable, following its receipt of all reasonably requested information and documentation.
  Seen in 2 SEC filings
• Deemed Approval means the assumption of approval that is given upon expiration of a period as specified.
  Seen in 2 SEC filings
• Deemed Approval means it is the Limited Partners’ responsibility to in a timely manner respond to requests by the General Partner for a vote on Partnership matters. If any Limited Partner fails to respond within thirty days to any such request for the action of the Limited Partners by the General Partner, consent or approval, as appropriate, is presumed to have been given.
  Seen in 1 SEC Filing.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for ‘Definitions of deemed approval’ yourself to verify these results. We are always keen to point people to source documents.

‍

Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

‍

Genie Definition 1

• Deemed Approval means an approval assumed to be granted when a specified authority fails to respond within a defined time period.

Relevant Contract Type

• Business Contracts
• Lease Agreements
• Vendor Contracts
• Non-Disclosure Agreements

Relevant Circumstances

• Contract negotiations where a response is required within a certain time frame
• Lease agreements requiring landlord approval for certain changes
• Vendor contracts where timely response to supply requests is vital

Relevant Sectors

• Real Estate
• Retail
• Manufacturing

‍

Genie Definition 2

• Deemed Approval means an approval that is assumed to be given upon the expiration of a specific period as defined under a [governing law].

Relevant Contract Type

• Government Contracts
• Environmental Compliance Agreements
• Licensing Agreements

Relevant Circumstances

• Contractual situations mandating government approval within a regulatory framework
• Licensing arrangements requiring approval from a licensing authority within a stated period
• Environmental compliance agreements necessitating approval from a regulatory body

Relevant Sectors

• Government Contracts
• Technology
• Environmental Services

‍