Co-operation on a Default Event Clause Samples

Co-operation on a Default Event. 24.4.1 Each Shareholder undertakes to the other that, where it has breached any obligation on its part that is specifically set out in this Agreement and: (a) JVCo and/or the other Shareholders (as the case may be) has informed it in writing of the relevant breach and the Shareholder in breach has agreed to enter into discussions regarding a resolution of that breach and/or an out of court settlement in relation to it, the Shareholder in breach hereby agrees to co-operate and act in good faith with the other Parties in relation to such discussions and not to unreasonably prolong such discussions; and/or (b) JVCo and/or the other Shareholders (as the case may be) has brought a claim against it in respect of such breach, the Shareholder in breach hereby agrees to co-operate and act in good faith in relation to the conduct of such claim (or defence of it) and not to unreasonably prolong the litigation process.