Examples of Deadlock Resolution Notice in a sentence
If the parties are unable to resolve a deadlock within [14] days from the date the deadlock matter is referred to the chairmen under 1012.3, then either party may, within 28 days of the expiry of the [14] day period, serve a Deadlock Resolution Notice on the other.
If no counter-notice is served within the period of [28] days available, the recipient of the Deadlock Resolution Notice is deemed to have accepted the offer in the Deadlock Resolution Notice at the expiry of that period.
If both parties serve a Deadlock Resolution Notice under 1113.1, only the first Deadlock Resolution Notice to be served shall be effective.
If at the end of the [28] day period specified in 1113.1 neither party has served a Deadlock Resolution Notice, either party may elect by written notice served on the other party for the JVC to be wound up in accordance with 1517..
A Deadlock Resolution Notice is a notice served by one party on the other in which the server offers, at the price for each share specified in the notice (in cash and not on deferred terms), either to sell all its shares in the JVC to the recipient of the notice or to buy all the recipient's shares in the JVC (but not both).
The service of a counter-notice, or deemed acceptance of the Deadlock Resolution Notice, shall bind the parties to buy and sell the shares (as the case may be) on the terms set out in 1518..
The recipient of a Deadlock Resolution Notice may choose to do either of the following, at the price for each share specified in the Deadlock Resolution Notice, by serving a counter-notice within [28] days of receiving the Deadlock Resolution Notice buy all the shares in the JVC of the server of the Deadlock Resolution Notice or sell all its shares in the JVC to the server of the Deadlock Resolution Notice.