Principles of International Commercial Contracts, 1994 - UNIDROIT
Chapter 6 - Performance
Section 1 - Performance in General
Article 6.1.16 - Permission Neither Granted Nor Refused
(1) If, notwithstanding the fact that the party responsible has taken all measures required, permission is neither granted nor refused within an agreed period or, where no period has been agreed, within a reasonable time from the conclusion of the contract, either party is entitled to terminate the contract.
(2) Where the permission affects some terms only, paragraph (1) does not apply if, having regard to the circumstances, it is reasonable to uphold the remaining contract even if the permission is refused.