Negotiation of Disputes and Disagreements. In the event of any dispute or disagreement arising out of this Agreement, which the Parties have been unable to settle or agree upon, either party may provide written notice to the other of its intent to invoke the procedures set forth below. Company shall nominate two non-attorney senior executives of its management and the ▇▇▇▇▇ & ▇▇▇▇▇ shall nominate two non-attorney representatives to meet at a mutually agreed time and place not later than sixty (60) days after the notice of dispute or disagreement has been given to attempt to resolve such dispute or disagreement. Should a resolution of such dispute or disagreement not be obtained within fifteen (15) days after the meeting of senior executives and representatives for such purpose, either party may commence litigation in a court of competent jurisdiction. In the event of any litigation arising out of or relating to this Agreement, the prevailing party shall be entitled to recover its litigation costs, expenses (including, but not limited to, expert fees) and attorneys’ fees. If each party prevails on some issues, the Court shall award attorneys’ fees on a pro rata basis.
Appears in 2 contracts
Sources: Water Line Crossing Agreement, Water Line Crossing Agreement