Deadlock Event. 14.1.1 There is a deadlock if a resolution is proposed to the General Meeting, but such resolution is not adopted within two (2) sequential General Meetings, to be held within 3 (three) months from the moment such matter was first discussed in the General Meeting, as a result of (i) insufficient affirmative votes by the Shareholders, or (ii) the relevant quorum for a General Meeting not being present, resulting in a material adverse effect on the interest of the Group and its business, (a "Deadlock Event"). In the event that the Shareholders do not reach agreement on whether an event qualifies as a Deadlock Event, the Management Board shall determine whether a Deadlock Event has occurred. The provisions of Clauses 14.2 (Deadlock Notice) and 14.3 (Cooling down procedure) shall apply if a Deadlock Event is deemed to have occurred.
Deadlock Event. A "Deadlock Event" shall be deemed to have occurred if (i) after failing to approve a Proposed Budget or Proposed Business Plan for one Fiscal Year, the Partnership Board has failed to approve a Proposed Budget or Proposed Business Plan for the next succeeding Fiscal Year prior to the commencement of such succeeding Fiscal Year, or (ii) the position of Chief Executive Officer is vacant for a period of more than sixty (60) days after at least two Partners with an aggregate of at least thirty-three percent (33%) of the Voting Percentage Interests have proposed a candidate to fill such vacancy.
Deadlock Event. 19.6.1 If a Deadlock Matter relating to the Delivery Vehicle has been referred to mediation pursuant to Clause 19.5 and the Deadlock Matter has not been resolved within the relevant time period specified in Clause 19.5, then the Deadlock Matter shall crystallise into a “Deadlock Event” in relation to the Delivery Vehicle and the provisions of Clause 20 shall apply.
Deadlock Event. For the purposes of this clause 15, a Deadlock Event occurs if:
Deadlock Event. 14.1.1 There is a deadlock if a resolution is proposed to the General Meeting, but such resolution is not adopted within two (2) sequential General Meetings, to be held within 3 (three) months from the moment such matter was first discussed in the General Meeting, as a result of (i) insufficient affirmative votes by the Shareholders, or (ii) the relevant quorum for a General Meeting not being present, resulting in a material adverse effect on the interest of the Group and its business, (a "Deadlock Event"). In the event that the Shareholders do not reach agreement on whether an event qualifies as a Deadlock Event, the Management Board shall determine whether a Deadlock Event has occurred. The provisions of Clauses 14.2 (Deadlock Notice) and 14.3 (Cooling down procedure) shall apply if a Deadlock Event is deemed to have occurred.
14.1.2 Each of the Parties shall use their reasonably best efforts and act in good faith to prevent a Deadlock Event.
Deadlock Event. 13.2.1 For the purpose of this Clause 13 (Deadlock), a “Deadlock Event” (or “Deadlock”) shall be deemed to occur if a Shareholder gives notice to the other Shareholder that, by reason of a fundamental difference of view pertaining to the strategy for the Group or other circumstances seriously affecting the relationship of the Shareholders as shareholders in the Company (such to be determined in the sole discretion of the Shareholder giving such notice), it is the wish of that Shareholder to terminate the joint venture relationship as set out in this Agreement.
Deadlock Event. If a Deadlock Matter relating to the LLP has been referred to mediation pursuant to clause 6.5 and the Deadlock Matter has not been resolved within the relevant time period specified in clause 6.5, then the Deadlock Matter shall crystallise into a “Deadlock Event” in relation to the LLP and the provisions of clause 19 shall apply.
Deadlock Event. If any disagreement between the Parties results in the inability of the Board to approve any action due to a tie vote between the Sanuwave Directors, on the one hand, and the JohnFK Directors, on the other hand, then a deadlock event (a “Deadlock Event”) shall be deemed to have occurred.
Deadlock Event. In the case of a deadlock event, the parties agree to the following procedure: SAEI shall have 15 days after notice of the Deadlock Event to name a price for the business. TVE may purchase or sell based upon the named price. The price shall be amortized over 36 months with interest at 15%. TVE shall have 15 days to determine if it will buy or sell the business.
Deadlock Event. In the event that a proposal on a Reserved Matter is put forward for approval to the Shareholders or the Terminals Management Board or VTTI Supervisory Board and such proposal is not passed or no quorum is met on the second meeting convened to deliberate on the same Reserved Matter, an event of deadlock (“Deadlock Event”) is then deemed to have occurred and the provisions of clauses 9.2 through 9.4 apply.
