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GLOSSARY

Gin and tonic clause definition

What does Gin and tonic clause mean?

Where a deadlock situation arises which cannot be resolved between the board (or, where the joint venture parties are part of a corporate group, the shareholders) of the joint venture company, such clause provides that the chair or chief executive officers of each joint venture party meet and attempt to resolve the deadlock in a face-to-face discussion. See also Escalation.

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