Alternate Process Sample Clauses
The Alternate Process clause establishes an alternative method or procedure to be followed in place of the standard process outlined in an agreement. This clause typically specifies the circumstances under which the alternate process may be invoked, such as when the primary process is unavailable, impractical, or has failed to achieve its intended result. For example, it might allow parties to use mediation instead of arbitration, or to follow a different approval workflow if the usual approver is unavailable. The core function of this clause is to provide flexibility and ensure continuity by offering a backup procedure, thereby minimizing disruptions and resolving potential bottlenecks in the contractual process.
Alternate Process. If both parties are Portfolio Data Receiving Entities, the parties will agree a process for reconciling Portfolio Data in order to meet the requirements of the Portfolio Reconciliation Risk Mitigation Techniques.
Alternate Process. The parties, hereby, agree to negotiate a memorandum of agreement or letter of understanding to deal with alternate dispute resolution processes and expedited arbitration/mediation processes which shall have as their main objective that grievances which are referred to arbitration under this article will be resolved within a maximum of one year from the date of that referral.