Common use of Deadlock Resolution Clause in Contracts

Deadlock Resolution. If a decision in respect of a matter referred to in Section 4.3 hereof, is not approved pursuant to Section 4,3, then: (a) the Shareholders shall consult with each other in good faith during a period of fifteen (15) Business Days to determine whether they can resolve the matter; (b) if such consultation fails to resolve the deadlock then, within a further period of fifteen (15) Business Days, the Managing Director of JV Partner and the President of Global Green, as Global Green' designated representative, shall discuss possible resolutions; (c) if such process of consultation results in a mutual decision that the relevant decision should be approved (whether in the original or a modified form), the Shareholders shall cause such decision to be approved; (d) if such process of consultation fails to resolve fails to resolve the matter, Global Green shall be entitled to exercise its rights under Section 7.1(b) hereof.