Stalemate definition

Stalemate means any situation in which one or more proposals have been submitted to the Partners relating to action reasonably considered by the proponent to be required to be taken by the Partnership, or the Project Leader on behalf of the Partnership, in order to avoid or substantially mitigate (i) a cessation of, or material disruption or impediment in, the conduct of its ongoing operations and affairs to any material extent, or (ii) potential material harm or damage to the Partnership, its business, operations, affairs, properties or other assets, but which proposal or proposals are not able to be implemented because there has not been an approval thereof by a SuperMajority in Interest of the Partners as required by Section 3.5. In this regard, the failure to approve a Budget by the end of the first quarter of a fiscal year to which it relates and which has been presented to the Partners in material compliance with Section 3.6(g) hereof shall be considered to be a Stalemate and approval of the Budget, or specific items thereof which are then in dispute, as then proposed may be presented for dispute resolution pursuant to this Article XIII.

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Stalemate has the meaning given such term in Section 5.3.

Stalemate has the meaning provided in Section 5.2.

Examples of Stalemate in a sentence

The Board and the arbitrator shall meet as soon as practicable after the appointment of the arbitrator, and shall agree on the parameters of the proceeding to decide the Stalemate, with emphasis on a determination being made in as expeditious and cost-effective a manner as possible.
The Board shall immediately contact the AAA and open a proceeding to appoint a single arbitrator to decide the Stalemate.
If the Managers are unable to resolve the Stalemate after reasonable attempts have been made, which shall be no more than thirty (30) days after the date of the Stalemate Determination (unless a longer or shorter time is agreed upon by unanimous consent of the Board), the Board shall utilize the services of the American Arbitration Association (“AAA”), in Denver, Colorado, to appoint an arbitrator to resolve the Stalemate.
The meeting to do so shall be held promptly, but in no event later than ten (10) business days after the determination that a Stalemate on an issue has occurred (a “Stalemate Determination”).
In the event of a Stalemate, the provisions of Section 5.3 shall apply to resolve the Stalemate.
If after all reasonable good-faith attempts to resolve the dispute have been made, it appears to the mediator that the parties are at a stalemate with no significant likelihood of reaching resolution, the mediator shall so inform the parties and shall issue a written Notice of Stalemate, which shall conclude the dispute resolution process, unless the parties agree otherwise.
If the Stalemate Date has occurred on or after the two (2) year anniversary of the Effective Date, and the Members are not able to negotiate a purchase and sale arrangement within thirty (30) days after the Stalemate Date, either Member may, for a period of ninety (90) days thereafter, subject to the provisions of Section 10.2, seek to obtain a bona fide third party purchaser for its Membership Interest and consummate a sale.
In the event the Management Committee is unable to get a quorum for a meeting or is deadlocked on any issue, a member may request that the Stalemate or impasse be resolved by appeal to the principal executive officers of the members who shall then attempt to resolve the Stalemate or impasse.
In the event of a dispute between the Partners arising out of or related to this Agreement or related to the business or affairs of the Partnership, or in the event a SuperMajority in Interest of the Partners do not agree on a matter requiring such approval under Section 3.5 of this Agreement and such lack of approval results in a Stalemate (as hereinafter defined in Section 13.2), either Partner may invoke the procedures specified in this Article by giving written notice to the other Partners.
Stalemate or deadlock in collective bargaining between management and labor representatives; a point at which either or both parties to negotiations determine that no further progress toward settlement can be made through direct negotiation.

More Definitions of Stalemate

Stalemate means that a matter has been submitted to the Members or the Management Committee for approval and the Members or the Management Committee, respectively, have been unable to obtain the unanimous vote or Consent of the Members or the Management Committee, respectively, required for such matter, or any other matter with respect to which a Member may declare that a Stalemate exists pursuant to the terms hereof.

Stalemate has the meaning set forth in Section 5.1(d)

Stalemate means that a matter described in Sections 5.4(a)(i) through (xii) has been (i) submitted to the Management Committee for its authorization and it has been unable to obtain the affirmative vote of a majority of its members, and (ii) submitted to the Chief Executive Officer of the Members to resolve the stalemate of the Management Committee, but they have been unable to agree within ten (10) days of submission of the matter to them.