Deadlock Notice Clause Examples
A Deadlock Notice clause establishes a formal process for notifying parties when a decision-making impasse, or deadlock, occurs within a joint venture, partnership, or similar collaborative arrangement. Typically, this clause requires one party to provide written notice to the other(s) when the parties are unable to resolve a significant disagreement after a specified period or number of attempts. By clearly defining how and when a deadlock must be communicated, the clause ensures that all parties are aware of unresolved issues and can initiate agreed-upon procedures for resolution, such as escalation to senior management or mediation, thereby preventing prolonged stalemates and facilitating continued cooperation.
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Deadlock Notice. Upon occurrence of a Deadlock Event, each Shareholder is entitled to deliver a deadlock notice to the other Shareholder (the "Deadlock Notice") by sending a notice to that effect within ten (10) Business Days of the date on which the last General Meeting regarding the Deadlock Event called to deliberate thereon was held.
Deadlock Notice. If at the next meeting of the Board, no resolution is carried in relation to the matter by reason of an equality of votes for and against any proposal for dealing with it, a lack of consent under Clause 7.1 or for any other reason, then Exmar or TGP (as applicable) may give notice in writing (a “Deadlock Notice”) to the other referring to the matter in dispute and specifying that the provisions of Clause 11.3 shall apply.
Deadlock Notice. See Section 8.5.
Deadlock Notice. Either Party may, on or before the 10th Business Day after a Deadlock Event, give notice in writing (a “Deadlock Notice”) to the other Party. If no Deadlock Notice is served by either Party within the 10-Business-Day time period, then the Parties will be deemed to have waived their respective rights to serve a Deadlock Notice in respect of the specific Deadlock Event and that Deadlock Event will remain unapproved.
Deadlock Notice. If any Deadlock arises, either Member shall be entitled to provide the other Member with written notice of the Deadlock, including sufficient details with respect to the nature of the Deadlock and remedies being sought (the “Deadlock Notice”). The Members agree to attempt in good faith to resolve any Deadlock through consultation and negotiation between executives who have authority to settle controversies and who are at a higher level of authority than the persons with direct responsibility for administration of this Agreement. All negotiations pursuant to this Section 13.1 shall be confidential and shall be treated as compromise and settlement negotiations for purposes of applicable rules of evidence. Execution Copy Northern Pass LLC Operating Agreement
Deadlock Notice. See Section 8.5. --------------- -----------
Deadlock Notice. As defined in Section 9.7.1.
Deadlock Notice. If a Deadlock Event occurs and cannot be resolved by the Shareholders within 20 Business Days after the date on which a Deadlock Event occurs, any Shareholder may give written notice to the other Shareholders stating that the remaining provisions of this clause will apply in relation to that Deadlock Event (a Deadlock Notice). To be valid, a Deadlock Notice must be given within 10 Business Days after the end of the 20 Business Day period referred to above. If on the expiry of the 10 Business Day period referred to above, neither Shareholder has given a Deadlock Notice in relation to a Deadlock Event, that Deadlock Event will be deemed to have lapsed. Xxxxxxxx Xxxxx Joint Venture and Shareholders Agreement 44
Deadlock Notice. If at any time after December 31, 1996, the shareholders or Board of Directors of any of the Primex Group Companies become (or remain) deadlocked over or, because of a lack of a quorum or a required majority, are unable to act or agree upon any matter including any inability to agree on additional capital requirements or the provisions of guaranties for such company (a "Deadlock"), any party may give a notice of deadlock to the other parties ("Deadlock Notice").
Deadlock Notice. See Section 8.5. HOU03:1138115.4 A-6 Default. See Section 11.1.