Deadlock Mediation Sample Clauses
The Deadlock Mediation clause establishes a process for resolving situations where decision-makers within a company or joint venture are unable to reach an agreement on key issues. Typically, this clause outlines steps such as escalating the dispute to higher management, involving a neutral third-party mediator, or setting specific timeframes for resolution. Its core function is to prevent operational paralysis by providing a structured method to break deadlocks, ensuring that business activities can continue smoothly even when disagreements arise.
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Deadlock Mediation. If by the end of the Negotiation Period the Members have been unable to reach a mutually satisfactory resolution of the Applicable Deadlock Issue, then the Members shall appoint an impartial Third Party (“Mediator”), for a period of thirty (30) days (the “Deadlock Mediation Period”), to assist the Members to reach a mutually satisfactory resolution of the Applicable Deadlock Issue. The Mediator shall be chosen upon mutual consent of the Members among trusted individuals and with no relations whatsoever to the Members or any of their Affiliates, and the costs and expenses for hiring such Mediator shall be shared equally by the Members.