Default Procedures. If a party believes a default has occurred, it may notify the other party in writing of such alleged default, specifying its nature. The parties shall meet within thirty (30) days to attempt to agree in whether there is such a default and, if so, on an appropriate remedy. If the parties are unable to agree, the complaining party may, within sixty (60) days after giving notice of such default, begin arbitration proceedings as provided for in this Exploration Agreement.
Appears in 2 contracts
Sources: Exploration and Option to Lease Agreement (Westmoreland Coal Co), Exploration and Option to Lease Agreement (Westmoreland Coal Co)