Default and Dispute Resolution Clause Samples

Default and Dispute Resolution. This Contract will be construed under Florida law. This Paragraph will survive 274 closing or termination of this Contract.

Default and Dispute Resolution. In the event of any default in performance of any obligations hereunder, within 15 days of any default, the non-defaulting party shall give the other written notice of the default. After delivery of notice, the defaulting party shall then have fifteen days in which to cure the default. If the default is not cured within such period, then the non-defaulting party may terminate this agreement after such period. The Parties agree to use reasonable best efforts to informally discuss and attempt to resolve any apparent event of default prior to delivery of notice thereof.

Default and Dispute Resolution a. The Parties will attempt to resolve any dispute arising under this Agreement through consultation and negotiation in good faith. If those attempts fail, the applicable Parties will then attempt to resolve that dispute through mediation, with costs of mediation being shared equally by those Parties. However, any Party to that dispute may terminate the mediation at any time upon reasonable notice to the other Parties. If a dispute arises under a provision of this Agreement that makes specific reference to this Clause, a Party must refer that dispute to arbitration for resolution pursuant to the provisions of the Arbitration Act of the Province of Alberta, as amended, after the terminated mediation. Otherwise, a Party may, if it so chooses, resort to judicial proceedings to resolve the dispute after the terminated mediation. b. Notwithstanding the provisions of Article 14, Clause (a ) hereof, if Grantor fails at any time and from time to time to account to Royalty Owner for the Overriding Royalty, Royalty Owner may, thirty (30) days following receipt or deemed receipt by Grantor of notice from Royalty Owner specifying such default, and without limiting Royalty Owner’s other rights at law or in equity: c. treat the default as an immediate and automatic assignment to Royalty Owner of the proceeds of the sale of Grantor’s share of Petroleum Substances produced from, deemed to be produced from or allocated to the Lands and require the purchaser of Grantor’s share of Petroleum Substances to make payment therefor to Royalty Owner while the default continues; and d. take possession of all or any part of the interest of Grantor in the Lands or in all or any part of the production of Petroleum Substances produced from, deemed to be produced from or allocated to the Lands or the equipment thereon; and Royalty Owner may sell and dispose of any such interest, production or equipment of which it has so taken possession either in whole or in part, in separate parcels at public auction or by private tender, at such times and on whatever terms it shall arrange, having first given notice to Grantor of the time and place of the sale. The proceeds of the sale shall be first applied by Royalty Owner in payment of the Overriding Royalty which is owing to Royalty Owner, and any balance remaining shall be paid to Grantor after deducting reasonable costs of the sale including, without limitation, losses incurred in making the Petroleum Substances marketable and any transportation...

Default and Dispute Resolution. 1 EVENTS OF DEFAULT......

Default and Dispute Resolution. Should either party fail to perform an obligation under this Agreement, it shall be deemed a default of this Agreement. Either Party shall have reasonable time, but in no instance more than thirty (30) days, to cure any non-monetary default upon notice of the default from the other Party. Monetary default, meaning the failure to timely pay any amount due the other Party under this Agreement, shall incur a ten percent (10%) per annum penalty, to be paid to the non-defaulting Party. The Parties agree that it is mutually beneficial to mediate disputes prior to resorting to litigation. In the event of a dispute between the Parties as to any provision of this Agreement, the Parties shall endeavor to mediate the dispute within sixty (60) days or as soon as practical upon a Party providing notice of the dispute to the other. Mediation shall occur in Calaveras County, California, or as close to the Property as possible, with a mutually-agreed-upon mediator.

Default and Dispute Resolution. A. In the event any party bound or affected by this Development Agreement initiates or defends any legal action or proceeding in any way connected with this Development Agreement, the prevailing party in any such action or proceeding, including any appeal, (in addition to any other relief which may be granted, whether legal or equitable), shall be entitled to recover from the losing party in any such action its reasonable costs and attorneys’ fees (including, without limitation, its reasonable costs and attorneys’ fees on any appeal). All such costs and attorneys’ fees shall be deemed to have accrued on commencement of any legal action or proceeding and shall be enforceable whether or not such legal action or proceeding is prosecuted to judgment. B. Prior to the commencement of any legal action, the dissatisfied party shall first seek to resolve the dispute by negotiation. If negotiation is unsuccessful, the parties shall seek to mediate the dispute by using the services of a professional mediator with subject matter expertise and mutually acceptable to the parties. Costs of mediation shall be shared equally by the parties unless otherwise determined during the mediation. To the extent mediation is unsuccessful in resolving the dispute, at the request of either party, any unresolved issues may be submitted to arbitration using a single arbitrator with subject matter expertise and mutually acceptable to the parties. The parties shall not unreasonably delay or refuse to approve ay mediator or arbitrator. The cost of the arbitration may be awarded by the arbitrator. The decision of the arbitrator may be appealed to a court with subject matter jurisdiction.

Default and Dispute Resolution. If either Party fails to comply with any material term hereof, the non-breaching Party shall not be entitled to terminate this Agreement or discontinue performance of its own obligations hereunder until final resolution of such dispute by agreement of the Parties or final court order, and then only in accordance with such agreement or order. If a dispute arises under this Agreement (a “Dispute”), either Party may invoke the following dispute resolution procedure by delivering written notice thereof (“Dispute Notice”) to the other Party: (a) The Parties shall first attempt in good faith to promptly resolve such Dispute by negotiation between officers who have authority to settle the Dispute. The officers shall be at a higher level of management in their respective organizations than the persons with direct responsibility for the administration of this Agreement. (b) If such negotiations do not resolve the Dispute, or if either Party fails to participate in such negotiations, within fifteen (15) days of a Party’s Dispute Notice, then either Party may demand that the Dispute be finally resolved by arbitration in accordance with the International Institute for Conflict Prevention & Resolution Global Rules for Accelerated Commercial Arbitration (“CPR Rules”), by providing the other Party with written notice of such demand (“Arbitration Notice”). The arbitration shall be conducted by a single arbitrator having no less than ten (10) years of upstream Gas production experience and agreed to by both Parties within fifteen (15) days of the Arbitration Notice. If the Parties cannot agree on a single arbitrator within such 15-day period, an arbitrator meeting the qualifications set forth above shall be selected by the International Institute for Conflict Prevention and Resolution. Any arbitration shall occur at a mutually agreeable location within the state of Texas. The Party invoking arbitration shall serve its Statement of Claim (as defined in the CPR Rules) within ten (10) days of the final appointment of the arbitrator. The arbitrator’s decision shall be due no later than ninety (90) days from the date the arbitrator is selected. In all other respects, the arbitration shall proceed in accordance with the CPR Rules.

Default and Dispute Resolution. In the event of a default on any term of this Agreement, the non-defaulting party shall provide written notice to the defaulting party and such notice shall identify the Paragraph of this Agreement believed to be in default and the conduct which is deemed to constitute the default. The defaulting party shall have fourteen (14) calendar days in which to (i) fully cure the default; (ii) respond in writing insofar as why the defaulting party believes no default has occurred; or (iii) provide a reasonable timetable in which to cure the default if the default cannot be reasonably cured within the aforesaid fourteen-day period. In the event of a dispute which arises in connection with performance of or interpretation of any term contained in this Agreement, the parties shall confer face-to-face in an effort to resolve their dispute. If the parties are unable to resolve their dispute, either party may initiate and maintain an action in the Circuit Court for the Sixth Judicial Circuit, Champaign County, Illinois. The laws of the State of Illinois shall govern any and all actions alleging breach of this Agreement or which seek to interpret any term contained herein.

Default and Dispute Resolution. 11.1 If either K’ómoks First Nation or the Regional District (the “Claiming Party”) considers that the other party (the “Defaulting Party”) is in breach of or has failed to perform any of the material covenants or obligations under this Wastewater Transmision and Treatment Agreement, the Claiming Party may deliver written notice of that breach or non-performance to the Defaulting Party. 11.2 Upon receipt of a notice under section 11.1, the Defaulting Party must cure the breach or non-performance within sixty (60) days, or such other reasonable time as the parties agree to. If the Defaulting Party disputes that a breach or non- performance has occurred, the matter will be resolved under the dispute resolution provisions of Section 12.0 of the Community Benefit Agreement.