Common use of Consultation Period Clause in Contracts

Consultation Period. If the alleged breach is not cured to Alleging Party’s reasonable satisfaction within the Cure Period, or if such breach is not susceptible of cure, then a ninety (90) day executive consultation period (“Consultation Period”) shall begin. During such period, a senior officer (which shall be, as applicable, the chief executive officer or another senior officer of Licensee and the Chair of the Licensor) of each of the Alleging Party and the Breaching Party shall meet in person at a mutually agreed location, at least once, and by other telephone or electronic means as required, to use their best efforts in good faith to find a mutually-acceptable means for addressing the alleged breach. The CCG Representatives for the Relevant Community are entitled to participate in such consultations. Each Party shall bear its own expenses in connection with such consultations. If requested by a Party, a third-party mediator may be utilized in order to facilitate discussion and settlement of the dispute, the expenses of which shall be shared equally by the Parties. If a mediator has been utilized, the Consultation Period may be extended by an additional thirty (30) days.