Russian roulette provisions—joint venture shareholders’ agreement
Russian roulette provisions—joint venture shareholders’ agreement

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Russian roulette provisions—joint venture shareholders’ agreement

  1. 1

    For the purposes of this clause, a Deadlock shall be deemed to have occurred if:

    1. 1.1

      a matter relating to or affecting the Company has been raised at and/or considered by a meeting of the Board or a general meeting and:

      1. 1.1.1

        no resolution has been passed by such meeting [by reason of an equality of votes for and against any resolution proposed relating to such matter OR because one of the Shareholders has withheld its consent to a matter requiring its consent pursuant to clause [insert reference to relevant clause in agreement]]; and

      2. 1.1.2

        either Shareholder has subsequently notified the other Shareholder [within [20] Business Days after such Board meeting or general meeting] that the matter has not been resolved to its satisfaction; or

    2. 1.2