Common use of Supplemental Plan Clause in Contracts

Supplemental Plan. If, after a Special Meeting, the Notifying Party continues to believe that the Receiving Party is not meeting its diligence obligations pursuant to this Article 6 or if the Notifying Party wishes to formalize the Receiving Party’s commitment to take such additional actions (if any) discussed in the Special Meeting, then the Notifying Party may so notify the Receiving Party in writing. Within thirty (30) days after the date of any such notice, the Receiving Party will indicate in writing to the Notifying Party whether it agrees with the concerns of the Notifying Party. If the Parties disagree, then each Party may invoke the dispute resolution mechanism described in Article 13. If the Receiving Party agrees that additional actions need to be taken, the Receiving Party will provide the Notifying Party with a plan describing the actions that the Receiving Party proposes to take to meet such obligation. If the Notifying Party then notifies the Receiving Party in writing that the Notifying Party agrees that such plan describes actions sufficient to meet such obligation, then such plan will be a “Supplemental Plan” and the Receiving Party will carry out the actions described in such plan. Each Supplemental Plan will include a specific timeline for the Receiving Party to take the steps described in such Plan. If the Notifying Party disagrees with the Receiving Party as to the sufficiency of the actions described in such plan to meet such obligation, and the Parties are unable to resolve such disagreement within thirty (30) additional days, either Party may invoke the dispute resolution mechanisms described in Article 13. No Supplemental Plan will be deemed to constitute an amendment to this Agreement.