Common use of Demand for Arbitration Clause in Contracts

Demand for Arbitration. In the event that the Employee or the Company initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee or the Company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 5 contracts

Samples: Employment Agreement (Southside Bancshares Inc), Employment Agreement (Southside Bancshares Inc), Change in Control Agreement (Franklin Financial Network Inc.)

AutoNDA by SimpleDocs

Demand for Arbitration. In the event that the Employee or the Company initially elects to file suit in any court, the other party will have 60 sixty (60) days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee or the Company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve (12) months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 4 contracts

Samples: Employment Agreement (Pab Bankshares Inc), Employment Agreement (Pab Bankshares Inc), Employment Agreement (Pab Bankshares Inc)

Demand for Arbitration. In the event that the Employee or the Company Bank initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee or the Company Bank may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 4 contracts

Samples: Employment Agreement (Southside Bancshares Inc), Employment Agreement (Southside Bancshares Inc), Employment Agreement (Southside Bancshares Inc)

Demand for Arbitration. In the event that the Employee Executive or the Company initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee Executive or the Company company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 2 contracts

Samples: Change in Control Agreement (Franklin Financial Network Inc.), Change in Control and Restrictive Covenant Agreement (Franklin Financial Network Inc.)

Demand for Arbitration. In the event that the Employee or the Company initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s 's demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee or the Company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (West Bancorporation Inc)

Demand for Arbitration. In the event that the Employee or the Company Bank initially elects to file suit in any court, the other party will have 60 sixty (60) days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee or the Company Bank may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve (12) months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (Pab Bankshares Inc)

Demand for Arbitration. In the event that the Employee or the Company initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s 's demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee or the Company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (Greene County Bancshares Inc)

AutoNDA by SimpleDocs

Demand for Arbitration. In the event that the Employee Officer or the Company Gxxxxxx initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitratorsarbitrator. In situations where suit has not been filed, either the Employee Officer or the Company Gxxxxxx may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (Gabriel Technologies Corp)

Demand for Arbitration. In the event that the Employee Vxxxxx or the Company initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee Vxxxxx or the Company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (Green Bankshares, Inc.)

Demand for Arbitration. In the event even that the Employee Executive or the Company Companies initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee Executive or the Company Companies may initiate arbitration by serving a written demand for arbitration upon the other partyparty and the arbitrators. Such a demand must be served within twelve six months of the events giving rise to the dispute, unless a statute provides for a longer period for filing an initial claim under the statute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (Harbor Bankshares Corp)

Demand for Arbitration. In the event that the Employee Pxxxxxx or the Company initially elects to file suit in any court, the other party will have 60 days from the date that it is formally served with a summons and a copy of the suit to notify the party filing the suit of the non-filing party’s demand for arbitration. In that case, the suit must be dismissed by consent of the parties or by the court on motion, and arbitration commenced with the arbitrators. In situations where suit has not been filed, either the Employee Pxxxxxx or the Company may initiate arbitration by serving a written demand for arbitration upon the other party. Such a demand must be served within twelve months of the events giving rise to the dispute. Any claim that is not timely made will be deemed waived.

Appears in 1 contract

Samples: Employment Agreement (Green Bankshares, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!