Common use of Deadlock Notice Clause in Contracts

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 a Deadlock Event occurs and cannot be resolved by the Security Holders Shareholders within twenty (20) 20 Business Days after the date on which a Deadlock Event occurs, either Founding any Shareholder may give written notice to the other Founding Shareholder Shareholders 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) 10 Business Days after the end of the twenty (20) 20 Business Days Day period referred to above. If, If on the expiry of the ten (10) 10 Business Days Day period referred to above, no Founding neither Shareholder has given a Deadlock Notice in relation to a Deadlock Event, that Deadlock Event will be deemed to have lapsed.‌lapsed. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Joint Venture and Shareholders Agreement 44