Board Deadlock definition

Board Deadlock has the meaning set forth in Section 5.09(a).

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Board Deadlock is defined in Section 12.1(a).

Board Deadlock has the meaning assigned in Section 8.2(q)(i).

Examples of Board Deadlock in a sentence

If such Persons fail to resolve the Board Deadlock within 21 days following the date that the Board fails to consent to or reject the matter subject to the Board Deadlock (the “Deadlock Resolution Period”), the Board Deadlock will be referred to a non-binding mediation process.
If, at two (2) consecutive duly called meetings of the Board at which a particular matter is scheduled (in advance) to be voted upon, a quorum shall not be present as a result of the same Member or Members’ appointed Director’s or Directors’ failure to attend, then either the GE Directors or the ▇▇▇▇▇▇▇▇ Directors may declare a Board Deadlock with respect to such matter and such Board Deadlock shall be subject to the provisions of Section 8.01.
Any Board Deadlock shall be subject to the provisions of Section 8.01.
If the deadlock is not so broken by that date, either Member may declare that a Board Deadlock exists, and exercise the rights provided in Section 12.1, at any time during the next ninety (90) days.
Each Electing Member will ensure that appropriately senior representatives with the authority to settle the Board Deadlock participate in the mediation process and that the relevant senior representatives will, in good faith, seek to resolve the Board Deadlock.
If the Board Deadlock Committee does not resolve the Board Deadlock within fifteen (15) days of delivery of the Board Deadlock Notice, the status quo shall prevail.
The decision of the arbitrator shall be binding and the arbitrator shall only have the power to determine whether the Board shall consent to or reject the matter subject to the Board Deadlock (but, for the avoidance of doubt, the arbitrator’s decision shall not relate to any term or condition relating to such Board Deadlock unless expressly presented to such arbitrator for its determination).
Within fifteen (15) days of delivery of the Board Deadlock Notice, senior officers of IE Parent and Ma’aden (the “Board Deadlock Committee”) shall negotiate and endeavour to resolve in good faith the Board Deadlock.
Any Dispute or Board Deadlock regarding a Capital Contribution under this Section 6.1 will be resolved in accordance with Article 12.
Where a Board Deadlock occurs, a Director seeking action may serve notice (a “Board Deadlock Notice”) on the other Directors stating that in his or her opinion a Board Deadlock has occurred and identifying the matter over which the Board is deadlocked.

More Definitions of Board Deadlock

Board Deadlock means, with respect to any matter brought before the Board for a vote, a situation pursuant to which a quorum of the Board (as determined pursuant to Section 7.3) consists of two (2) WHP Holders and two (2) Express Holders, and the WHP Holders and the Express Holders fail to approve such matter pursuant to the second sentence of Section 7.3(b).

Board Deadlock has the meaning set forth in Section 7.13.

Board Deadlock means the Board is unable, after commercially reasonable efforts in good faith and at least two (2) duly held meetings of the Board, to approve or disapprove any proposed action requiring approval of the Board under this Agreement that, as a result of the deadlock with respect to such proposed action, has had or could reasonably be expected to have a material and adverse effect on the (i) the achievement of the purposes of the Company, (ii) financial performance of the Company, (iii) operations of the Company, or (iv) quality of services rendered by the Company.

Board Deadlock has the meaning given to it in paragraph 4 of Schedule 4; “Board Deadlock Committee” has the meaning given to it in paragraph 6 of Schedule 4; “Board Deadlock Notice” has the meaning given to it in paragraph 5 of Schedule 4; “Budget” means a description in reasonable detail of operations to be conducted and objectives to be accomplished by the Company for a given period together with a detailed estimate of all sales revenues and other income to be received by, and all operating and capital costs to be incurred by, the Company, together with a funding plan (if relevant) including any proposed Additional Funding required by the Company with respect to such operations and shall include each Designated Project Budget and each Exploration Budget; “Business” means the Company’s business of undertaking exploration for prospective mineral deposits and the operation, management and development of mines and the production of minerals including the operation of the Company in accordance with the applicable Mining Licenses and all other matters reasonably incidental thereto; “Business Days” means a day (other than Friday, Saturday and Sunday) on which banks are open for normal business in Riyadh; “Capital Contributions” means contributions to the share capital of the Company occurring by way of Cash Contributions or the conversion of outstanding amounts under the Shareholder Loans, including, for the avoidance of doubt the IE’s Contribution and the Ma’aden’s Contribution; “Cash Contributions” has the meaning given to it in Clause 12.3 (Further Funding);

Board Deadlock has the meaning given to it in paragraph 4 of Schedule 4;