Designation of the PRODIGY Processes Sample Clauses

Designation of the PRODIGY Processes. During the term of this Agreement, PRODIGY will notify FDRI, in writing, of its intent to designate a particular process as a PRODIGY Process. FDRI shall be given thirty (30) days following receipt of such notification to contest the proposed designation and to explain why FDRI believes that the process in question does not constitute a PRODIGY Process. If FDRI does not respond within the required time period, then FDRI shall be deemed to have agreed that the process is a PRODIGY Process and the process shall be so identified. If FDRI timely responds to PRODIGY's notice, then the designated representatives of PRODIGY and FDRI shall negotiate in good faith to resolve the issue as soon as practicable. If the parties are unable to reconcile their differences within fifteen (15) days following FDRI's timely response to PRODIGY, then the matter shall be escalated to the respective functional vice presidents of the parties. If these individuals are unable to agree on the characterization of the process at issue within ten (10) days after the matter has been escalated to them, then the matter will be settled by binding arbitration conducted before a single arbitrator at a time and place mutually agreed to by the parties. Such arbitrator shall be a person who is knowledgeable in the field of computer software Contract #3284 development and intellectual property rights, and acceptable to both parties. The decision of such arbitrator shall be binding upon the parties. Each party will bear its own costs and expenses, including fees and expenses of counsel, if any, associated with the arbitration.
Sample 1
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