Dead-Lock Sample Clauses

A Dead-Lock clause defines the procedures to follow when parties involved in a contract reach an impasse and cannot resolve a dispute or make a required decision, typically within a joint venture or partnership. This clause often outlines steps such as escalating the issue to higher management, engaging in mediation, or even triggering a buy-out or dissolution of the business relationship if the deadlock persists. Its core practical function is to provide a clear, pre-agreed mechanism for breaking stalemates, thereby preventing prolonged disputes from paralyzing the business or partnership.
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Dead-Lock. In the event of a dead lock in any matter requiring consent or approval of a Super-Majority in Interest of the Members or Management Committee which remains unresolved for more than 60 days, then the matter shall be referred to the chief executive officers of ▇▇▇ and ▇▇▇▇▇▇ International Limited for resolution.
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Dead-Lock. If decisions mentioned in Clause 6.11.1 cannot be reached on account of a Veto by SIFY’s Directors then such matters shall be referred to the Managing Director of the Company and a director of MAN, who is not a Director on the Board of Directors of the Company and the CEO of SIFY. If a solution is still not found within a period of 60 days on such matters then such matters will be referred to arbitration.
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Dead-Lock. In case of a deadlock in the decision making at the Board, the matters shall be placed before the Shareholders.
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