Common use of Negotiation to Resolve Disputes Clause in Contracts

Negotiation to Resolve Disputes. If a Dispute arises, the Disputing Parties shall attempt to resolve such Dispute through the following procedure, unless otherwise mutually agreed by the Disputing Parties: (a) first, an executive officer of each of the Disputing Parties shall promptly meet (whether by phone or in person) in a good faith attempt to resolve the Dispute; (b) second, if the Dispute is still unresolved after 20 Days following the commencement by any Disputing Party of the negotiations described in Section 7.02(a), then the chief executive officer (or his designee) of the immediate parent company of each Disputing Party shall meet (whether by phone or in person) in a good faith attempt to resolve the Dispute; and (c) third, if the Dispute is still unresolved after 5 Days following the commencement by any Disputing Party of the negotiations described in Section 7.02(b), then any Disputing Party may submit such Dispute to binding arbitration under this Article 7 by notifying the other Disputing Parties (an "ARBITRATION NOTICE").

Negotiation to Resolve Disputes. If a Dispute arises, the Disputing Parties Members shall attempt to resolve such Dispute through the following procedure, unless otherwise mutually agreed by the Disputing PartiesMembers: (a) first, an executive officer of each of the Disputing Parties Members shall promptly meet (whether by phone or in person) in a good faith attempt to resolve the Dispute; (b) second, if the Dispute is still unresolved after 20 Days following the commencement by any Disputing Party Member of the negotiations described in Section 7.02(a10.02(a), then the chief executive officer (or his designee) of the immediate parent company of each Disputing Party Member shall meet (whether by phone or in person) in a good faith attempt to resolve the Dispute; and (c) third, if the Dispute is still unresolved after 5 10 Days following the commencement by any Disputing Party Member of the negotiations described in Section 7.02(b10.02(b), then any Disputing Party may submit such Dispute to binding arbitration under this Article 7 10 by notifying the other Disputing Parties Members (an "ARBITRATION NOTICE").