Common use of Co-operation on a Default Event Clause in Contracts

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.

Co-operation on a Default Event. 24.4.1 25.4.1 Each Shareholder Member 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 JV LLP and/or the other Shareholders Members (as the case may be) has informed it in writing of the relevant breach and the Shareholder Member 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 Member 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 JV LLP and/or the other Shareholders Members (as the case may be) has brought a claim against it in respect of such breach, the Shareholder Member 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.