Amicable Resolution by Senior Executives Clause Samples

Amicable Resolution by Senior Executives. If a Dispute is not resolved by the Party Representatives within 10 Business Days after receipt by a Party of the applicable Dispute Notice, then either Party Representative may, by written notice to the other, refer the Dispute to a senior executive who: (a) is in a position of authority above that of the City Representative or the Project Co Representative, as applicable; and (b) subject only to approval of the board of directors or similar governing body of the Party, has full authority to resolve and settle the Dispute, (each, a “Senior Executive” and, collectively, the “Senior Executives”). Once a Dispute is referred to them, the Senior Executives shall promptly and diligently make all reasonable bona fide efforts to resolve the Dispute. Each Senior Executive shall provide to the other, on a without prejudice basis, ▇▇▇▇▇, candid and timely disclosure of relevant facts, information and documents (except such documentation that is subject to legal privilege) as may be required or reasonably requested by the other Senior Executive to facilitate the resolution of the Dispute. All discussions and negotiations held pursuant to this Section 2.3 are to be held on a without prejudice basis and will not be used by either Party as evidence at any other proceeding. All information exchanged in connection with any discussions and negotiations held pursuant to this Section 2.3 shall be deemed Confidential Information.