Common use of Cooling down procedure Clause in Contracts

Cooling down procedure. 14.3.1 In the event that a Deadlock Notice has been delivered, the chief executive officer of FMO and [the Director of Financing (Directeur Financieringen)] of the State shall meet within ten (10) Business Days of the delivery date of the Deadlock Notice, whereby: (a) FMO shall procure the presence of the chief executive officer of FMO; and (b) the State shall procure the presence of [the Director of Financing (Directeur Financieringen)], at the date of this Agreement [▇▇ ▇▇▇▇▇▇▇], of the State. 14.3.2 At such meeting and for twenty (20) Business Days thereafter (the " Cooling Down Term"), the persons referred to in Clause 14.3.1 shall negotiate in good faith with a view to resolving their differences regarding the Deadlock Event. 14.3.3 If within the Cooling Down Term the persons referred to in Clause 14.3.1 have not procured: (a) withdrawal of the relevant proposal in writing; or (b) that the General Meeting has, as the case may be, validly adopted the relevant proposal,

Appears in 4 contracts

Sources: Joint Venture Agreement, Joint Venture Agreement, Joint Venture Agreement