Common use of Resolution by Parties Clause in Contracts

Resolution by Parties. 15.1.1 If a Dispute arises, the Parties shall first attempt in good faith to settle such Dispute by mutual discussions in accordance with the provisions of Clause 15.1.2. 15.1.2 The Party alleging the existence of a Dispute shall give to the other Party notice setting out the material particulars of the Dispute. Representatives from each of the Parties shall meet in Ulaanbaatar, Mongolia and attempt in good faith to resolve the Dispute within fifteen (15) Days after the date of receipt of such notice by the relevant Party. 15.1.3 If the Dispute is not resolved within thirty (30) Days after the date of receipt of notice referred to in Clause 15.1.2 by the relevant Party (or within such longer period of time as the Parties may agree), then the provisions of Clause 15.2 and Clause 15.3 shall apply, as appropriate. 15.1.4 During the period within which the Parties' representatives are meeting in good faith to resolve the Dispute, the Parties shall faithfully continue to perform their respective obligations under this Agreement that are not in Dispute.