Deadlock Notice Sample Clauses
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.
POPULAR SAMPLE Copied 12 times
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. 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. 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. 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 Security Holders within twenty (20) Business Days after the date on which a Deadlock Event occurs, either Founding Shareholder may give written notice to the other Founding Shareholder stating that the remaining provisions of this clause 23 will apply in relation to that Deadlock Event (a Deadlock Notice). To be valid, a Deadlock Notice must be given within ten (10) Business Days after the end of the twenty (20) Business Days period referred to above. If, on the expiry of the ten (10) Business Days period referred to above, no Founding Shareholder has given a Deadlock Notice in relation to a Deadlock Event, that Deadlock Event will be deemed to have lapsed.
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.
Deadlock Notice. If at any time prior to the second anniversary of the Effective Date the Executive Committee is unable to reach unanimous agreement as to a Major Decision, and such impasse is not thereafter resolved by unanimous vote of the Members, acting individually, and not through the Executive Committee, within 30-days from the date of the impasse (the “Final Date”), Inland shall have an option to be exercised in its sole discretion no later than 30 days following the Final Date (the “Deadlock Option”), to purchase from the Company, or its Subsidiaries, all of the Property or Properties which are affected by the failure of the Members to agree upon the Major Decision (the “Purchased Properties”) by giving notice to SAU (the “Deadlock Notice”) of its exercise of the Deadlock Option, and describing in detail the Purchased Properties and the purchase price to be paid by Inland therefore, which shall not more than the aggregate of (i) the total Unreturned Capital contributed by Inland and SAU to the Company with respect to the acquisition of the Purchased Properties, plus (ii) any Company Loans owed to the Members with respect to the Purchased Properties, plus any accrued interest