Meaning of Deadlock. For the purposes of this clause 13 there shall be a Deadlock if: 13.1.1 a matter constituting a Reserved Matter has been considered by the Members; and 13.1.2 no resolution has been carried by the Members in relation to the matter because of a failure of any Member to consent to such resolution; and 13.1.3 the matter is not resolved within ten (10) Business Days from the date of the relevant general meeting or the end of the period for approval of a written resolution circulated to the Members for consent (as appropriate).
Appears in 4 contracts
Samples: Members’ Agreement, Members’ Agreement, Members’ Agreement
Meaning of Deadlock. For the purposes of this clause 13 there shall be a Deadlock if:
13.1.1 a matter constituting a Reserved Matter has been considered by the Members; and
13.1.2 no resolution has been carried by the Members in relation to the matter because of a failure of any Member the requisite number of Members to consent to such resolution; and
13.1.3 the matter is not resolved within ten (10) Business Days from the date of the relevant general meeting or the end of the period for approval of a written resolution circulated to the Members for consent (as appropriate).
Appears in 2 contracts
Samples: Members’ Agreement, Members’ Agreement
Meaning of Deadlock. For the purposes of this clause 13 12 there shall be a Deadlock if:
13.1.1 a matter constituting a Reserved Matter has been considered by the Members; and
13.1.2 no resolution has been carried by the Members in relation to the matter because of a failure of any Member to consent to such resolution; and
13.1.3 the matter is not resolved within ten (10) Business Days from the date of the relevant general meeting or the end of the period for approval of a written resolution circulated to the Members for consent (as appropriate).
Appears in 1 contract
Samples: Members’ Agreement
