| English term or phrase: joint due diligence | Despite extensive and lengthy efforts, the parties did not succeed in agreeing on proper instructions for AAA and an effective way forward on the agreed joint due diligence. A very substantial delay was caused by efforts to reach such agreement, yet unfortunately to no avail. The main disagreements were the refusal of BBB to sign an indemnity letter in favour of AAA (which is a standard market practice) and the treatment of uncollectible and artificially created receivables owned to CCCC by the entities under the control of BBB.
Since the joint due diligence failed and it was not possible to make joint calculations, CCC conducted its own due diligence, involving AAA as agreed, and the parties made a calculation of the Overall Business Value separately.
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