Common use of External Communication Clause in Contracts

External Communication. Neither party shall release any communication to the general public (including any press release or other publication) without the consent of the other party (such consent not to be unreasonably withheld) where it would be reasonably apparent to a third party recipient of such communication that the communication makes reference to such other party, whether by name or otherwise, or to any material term of this Agreement. The party reviewing the communication shall have ten (10) days from the receipt of the proposed communication to review and approve such communication; if the reviewing party does not notify the other party within such ten (10) day period of its disapproval of the communication, in whole or in part, the communication shall be deemed approved in its entirety. Notwithstanding the foregoing, where time is of the essence and it would not be practical or advisable to take the time to attempt to obtain the consent of the other party, a party making such communication shall not be required to obtain the consent of such other party where outside legal counsel to the party making such communication reasonably believes and has so advised such party that such communication is necessary in the carrying out of its disclosure obligations under applicable law or the listing standards of any stock exchange or listing service on which the communicating party’s securities are quoted. The final version of the communication as well as the confirmation of such outside legal advice will be promptly provided to the other party for information.