Effect of Deadlock Sample Clauses

Effect of Deadlock. (a) If, thirty (30) days after the receipt of all submissions made in accordance with Section 10.1 (Deadlock), the chief executive officers of each Parent Company, or their respective designees, are unable to reach an agreement on the matters which are the subject of the submissions, then a Founding Shareholder shall have the right to submit the unresolved matters to a committee designated for the purpose of considering, advising upon, and making recommendations in relation to the unresolved matters (the “Deadlock Committee”). The Deadlock Committee shall consist of three (3) members: one (1) designated representative appointed by each Founding Shareholder and an Expert appointed in accordance with the Dispute Resolution Procedures.
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Effect of Deadlock. (a) If a Deadlock Event occurs and is not resolved by the Shareholders despite best efforts to reach agreement within ninety (90) days after the date on which the Deadlock Event occurs, then each Shareholder or the Board of Managers may request by notice to the other Shareholder or Shareholders (as the case may be) and the Company (a Deadlock Notice) that such matter be immediately submitted to the chief executive officers or equivalent senior officers of the Ultimate Holding Company of each Shareholder or the Shareholders' representatives (including any representatives from their respective Affiliates) specifically designated for the purpose of resolving the Deadlock Event (the Deadlock Committee).
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Related to Effect of Deadlock

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