Dispute Resolution Following Objection Clause Samples

The "Dispute Resolution Following Objection" clause establishes the process to be followed when one party raises an objection to an action, decision, or interpretation under the agreement. Typically, this clause outlines steps such as written notice of the objection, a period for negotiation or discussion between the parties, and, if unresolved, escalation to mediation, arbitration, or court proceedings. Its core function is to provide a structured and predictable method for resolving disagreements, thereby minimizing disruption and ensuring that disputes are handled efficiently and fairly.
Dispute Resolution Following Objection. If Seller delivers a Balance Sheet Objection to Buyer within the required thirty (30)-day period pursuant to Section 2.6(d), then Buyer and Seller shall promptly meet (in person, by telephone or otherwise) and attempt in good faith to resolve the dispute(s) forming the basis of the Balance Sheet Objection. If Buyer and Seller are unable to resolve such dispute(s) within forty five (45) days following the delivery of the Balance Sheet Objection to Buyer, then, at any time thereafter, Buyer or Seller shall engage T▇▇▇ ▇▇▇▇▇▇▇▇ at KPMG LLP or, if T▇▇▇ ▇▇▇▇▇▇▇▇ is not willing or able to be so engaged, such other Person at KPMG LLP as to which Buyer and Seller mutually agree (the “Independent Accountant”), which Independent Accountant shall, acting as an expert and not as an arbitrator, determine on the basis of the standards set forth in Sections 2.6(a) and 2.6(c) and the principles used in the preparation of the Estimated Closing Balance Sheet, and only with respect to the remaining dispute(s) so submitted to the Independent Accountant, whether and to what extent, if any, the items and amounts thereof on the Preliminary Closing Balance Sheet require adjustment. In connection with the engagement of the Independent Accountant, each of Seller and Buyer shall execute reasonable engagement letters and supply such other documents and information as the Independent Accountant may reasonably require or as either such Party deems reasonably appropriate. The Independent Accountant shall be instructed to use every reasonable effort to perform his services within fifteen (15) Business Days after submission of the dispute(s) to him and, in any case, as soon as practicable after such submission. In resolving such dispute(s), the Independent Accountant (i) shall utilize the criteria set forth in Sections 2.6(a) and the principles used in the preparation of the Estimated Closing Balance Sheet, and (ii) shall not assign a value to any item greater than the greatest value for such item claimed by any Party, or less than the smallest value for such item claimed by any Party, as set forth in the Preliminary Closing Balance Sheet and the Balance Sheet Objection. All fees and expenses of the Independent Accountant in connection with the services provided pursuant to this Section 2.6(e) shall be paid one-half by Buyer and one-half by Seller.
View Source
Dispute Resolution Following Objection. If Buyer timely delivers the Objection Response, then Buyer and Seller shall promptly meet and attempt in good faith to resolve the dispute relating to the Buyer’s Post-Closing Reconciliation (the “Reconciliation Dispute”). If Buyer and Seller are unable to resolve the Reconciliation Dispute within thirty (30) calendar days following Buyer’s delivery of the Objection Response, then within fifteen (15) calendar days Seller may elect to have the Reconciliation Dispute resolved by a nationally recognized firm of independent public accountants as to which Buyer and Seller mutually agree (the “Accounting Firm”), who shall, acting as expert and not as arbitrator determine whether and to what extent, if any, the Buyer’s Post-Closing Reconciliation requires adjustment. If Seller fails to have the Reconciliation Dispute resolved by an Accounting Firm within the required time period, the Reconciliation Dispute shall be deemed resolved in favor of Buyer. Buyer and Seller shall supply such documents and information as the Accounting Firm reasonably requires to perform its services. The Accounting Firm shall be instructed to use every reasonable effort to perform its services within thirty (30) calendar days after submission of the Reconciliation Dispute to it and, in any case, as soon as practicable after such submission. The Accounting Firm’s fees shall be borne by the Buyer if the Accounting Firm determines that Buyer’s Post-Closing Reconciliation requires adjustment of greater than five percent (5%), and shall be borne by the Seller if the adjustment is equal to or less than five percent (5%).
View Source
Dispute Resolution Following Objection 
View SourceView Similar (10)

Related to Dispute Resolution Following Objection

  • Dispute Resolution Procedure Any disputes regarding this clause or any matter relating to the use of an electronic access control system shall be dealt with under clause 11 - Disputes Resolution Procedure.

  • Initial Dispute Resolution If a dispute arises out of or relates to this Contract or its breach, the parties shall endeavor to settle the dispute first through direct discussions between the parties’ representatives who have the authority to settle the dispute. If the parties’ representatives are not able to promptly settle the dispute, they shall refer the dispute to the senior administrators of the parties who have the authority to settle the dispute, who shall meet within fourteen days thereafter. If the dispute is not settled by the senior administrators, the parties may submit the dispute to mediation in accordance with Paragraph 5.2.3.2.

  • Dispute Resolution Process Any claim, dispute or other matter in question not resolved by the process identified in Paragraph

  • I2 Dispute Resolution The Parties shall attempt in good faith to negotiate a settlement to any dispute between them arising out of or in connection with the Contract within twenty (20) Working Days of either Party notifying the other of the dispute and such efforts shall involve the escalation of the dispute to the finance director of the Contractor and the commercial director of the Authority.

  • Informal Dispute Resolution Process 1. In the event there is a dispute under this Centralized Contract, the Contractor, OGS and Authorized User agree to exercise their best efforts to resolve the dispute as soon as possible. The Contractor, OGS and Authorized User shall, without delay, continue to perform their respective obligations under this Centralized Contract which are not affected by the dispute. Primary responsibility for resolving any dispute arising under this Centralized Contract shall rest with the Authorized User’s Contractor Coordinators and the Contractor’s Account Executive and the State & Local Government Regional General Manager. 2. In the event the Authorized User is dissatisfied with the Contractor’s Products provided under this Centralized Contract, the Authorized User shall notify the Contractor in writing pursuant to the terms of the Contract. In the event the Contractor has any disputes with the Authorized User, the Contractor shall so notify the Authorized User in writing. If either party notifies the other of such dispute, the other party shall then make good faith efforts to solve the problem or settle the dispute amicably, including meeting with the party’s representatives to attempt diligently to reach a satisfactory result through negotiation. 3. If negotiation between the Contractor and Authorized User fails to resolve any such dispute to the satisfaction of the parties within fourteen (14) business days or as otherwise agreed to by the Contractor and Authorized User, of such notice, then the matter shall be submitted to the State's Contract Administrator and the Contractor’s senior executive officer representative. Such representatives shall meet in person and shall attempt in good faith to resolve the dispute within the next fourteen (14) business days or as otherwise agreed to by the parties. This meeting must be held before either party may seek any other method of dispute resolution, including judicial or governmental resolutions. Notwithstanding the foregoing, this section shall not be construed to prevent either party from seeking and obtaining temporary equitable remedies, including injunctive relief. 4. The Contractor shall extend the informal dispute resolution period for so long as the Authorized User continues to make reasonable efforts to cure the breach, except with respect to disputes about the breach of payment of fees or infringement of its or its licensors’ intellectual property rights.