Common use of DEFERRAL OF DETERMINATION OF ADVERSE EFFECT Clause in Contracts

DEFERRAL OF DETERMINATION OF ADVERSE EFFECT. If any party considers that it is unable to assess the consequence of any Relevant Invalidity in the light of facts subsisting at the time, that party may defer commencement of an arbitration in respect of the provision or provisions affected by such Relevant Invalidity until such time as it considers on reasonable grounds that its commercial interests with regard to this Agreement and/or any of the Ancillary Documents are materially and adversely affected in the light of events occurring subsequent to communication of the finding of invalidity to the parties. Notwithstanding the foregoing, a party must commence arbitration pursuant to SECTION 8.3 within 60 days of receipt of the Negotiation Notice.

DEFERRAL OF DETERMINATION OF ADVERSE EFFECT. If any party considers that it is unable to assess the consequence of any Relevant Invalidity in the light of facts subsisting at the time, that party may 12 defer commencement of an arbitration in respect of the provision or provisions affected by such Relevant Invalidity until such time as it considers on reasonable grounds that its commercial interests with regard to this Agreement and/or any of the Ancillary Documents are materially and adversely affected in the light of events occurring subsequent to communication of the finding of invalidity to the parties. Notwithstanding the foregoing, a party must commence arbitration pursuant to SECTION 8.3 within 60 days of receipt of the Negotiation Notice.

DEFERRAL OF DETERMINATION OF ADVERSE EFFECT. If any party Party considers that it is unable to assess the consequence of any Relevant Invalidity in the light of facts subsisting existing at the time, that party Party may defer commencement of an arbitration in respect of the provision or provisions affected by such Relevant Invalidity until such time as it considers on reasonable grounds that its commercial interests with regard to this Agreement and/or any of the Ancillary Documents are materially and adversely affected in the light of events occurring subsequent to communication of the finding of invalidity to the partiesParties. Notwithstanding the foregoing, a party Party must commence arbitration pursuant to SECTION 8.3 Section 7.3 within 60 days of receipt of the Negotiation Notice.

DEFERRAL OF DETERMINATION OF ADVERSE EFFECT. If any party Party considers that it is unable to assess the consequence of any Relevant Invalidity in the light of facts subsisting at the time, that party Party may defer commencement of an arbitration in respect of the provision or provisions affected by such Relevant Invalidity until such time as it considers on reasonable grounds that its commercial interests with regard to this Agreement and/or any of the Ancillary Documents are materially and adversely affected in the light of events occurring subsequent to communication of the finding of invalidity to the partiesParties. Notwithstanding the foregoing, a party Party must commence arbitration pursuant to SECTION 8.3 within 60 days of receipt of the Negotiation Notice.